What’s the best way to overcome the fear of uncertainty that retirement brings? It helps to know the sources of that fear. This will guide you as you fill in the blank retirement often presents.
Without sufficient planning, it’s extremely hard to have a firm grasp on where you stand in terms of finances. This leaves you susceptible to worst-case scenario thinking. You’re consumed by the thought of running out of money.
“Perhaps the biggest concern is whether you can afford that new lifestyle,” says Mark Schrader, TIAA Financial Planning Thought Leader located in Charlotte, North Carolina. “TIAA did a Financial Wellness Survey earlier this year, and we found fewer than 30% of Americans feel confident they’re on track with retirement savings to retire when they want, afford the lifestyle they want in retirement or live comfortably throughout retirement without running out of money.
“Many of us started working in our teens with babysitting or paper routes; we’ve built up a lot of momentum towards getting up and going to work,” says Warren Ward, Senior Planner at WWA Planning and Investments in Columbus, Indiana. “If asked to describe ‘who they are’ without being able to state ‘what they do,’ they are at a loss. It’s this transition from being busy all the time at something they are known to be good at to having nothing required of them that is at the heart of the anxiety.
“Some people are worried about retirement before they retire because they do not know how they will spend their retirement,” says Annette Harris, the Founder of Harris Financial Coaching in Jacksonville, Florida. “They are used to working for people requiring their expertise in their area of work. In retirement, you are in charge of your life and have to plan your days, weeks and years on your schedule and not at the beck and call of others.
Can you remember what it was like on your first day of school? Sure, you knew what it was like boarding that bus, but did you really know what was beyond the bus? Retirement can be like that.In this unexplored environment, all the usual worries take on new meaning. They can be amplified. They can be distorted. They can mutate into a wholly different animal.
“People fear retirement because of all the unknown variables,” says Stephen Dunbar, Equitable Advisor at Equitable in Atlanta.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Buyer's remorse: Democrat mother 'embarrassed' over Biden support, 'feels manipulated' by mediaDemocrat mothers who voted for Biden in 2020 explain why they are worried about the direction of the country over the president's handling of key issues
Weiterlesen »
Why It's Harmful to Only Acknowledge the Most Dire Reasons For AbortionNo one owes you their trauma to justify the need for abortion.
Weiterlesen »
Clear Creek ISD's superintendent has been called 'anti-white.' The board now considers his retirementWilliams, who began his position in the district in February 2021, was followed by accusations of “indoctrinating” students with “anti-white” sentiment from his previous job in Virginia.
Weiterlesen »
Why It’s Impossible to Rent a Car Right NowFrom Avis-Budget to Hertz, traditional rental companies are struggling to restock their fleets. Now peer-to-peer upstarts are scrambling to fill the gap.
Weiterlesen »
Why It's Worth Investing in a High Waisted Bikini for Timeless Fashion 2022 / 2023 » Fashion AllureSwimsuit shopping can be simultaneously fun and stressful. Since you’re going to be wearing your swimsuit all season, it can be important that you get a look that is just right, but this doesn’t mean you have to panic. High waisted bikinis can be one of the most popular and best-looking options for anyone to rock this summer. Here’s why you should think about trying one this year.
Weiterlesen »