The transition into retirement is a very unique and dramatic step in life. The changes in a person’s short term and long term objectives change dramatically as do the changes in a person’s daily routines, social structure and status and within a person’s family interactions. Yet, the transition into retirement is hardly ever given the planning or thought it deserves.
Unfortunately, far too many people go into retirement with virtually no purpose, with little, if any, planning, and little understanding of what will actually happen. People are led to believe that retirement is a form of paradise that will provide full retirement for the rest of their lives.
Retirement creates a change in people’s identity and status. They are no longer the manager, or sales person, or operator, or the important person at work they once were. They lose much of their sense of worth, because they are no longer needed, because they are no longer able to participate in work achievements and team activities. They have been replaced! This can be distressing.
“Retirement Well-Being – …doing great things in the next chapter of your life”
In this presentation I discuss the shift from the old to the new retirement and the factors that have contributed to this tremendous change. Some of the other issues covered in the presentation include:
Adjusting to a new lifestyle: Work reorientation, making the most of your time, replacement of work functions, establishing new goals and routines, dealing with change and uncertainty.
Discovering new life purposes and goals you will want to include in your retirement life.
Health issues: Improving your health, exercise and nutrition.
Financial issues. The importance of financial planning.
Home and environment: Stay in the same place or explore your options. Discover the pros and cons of your current living situation.
Leisure interests: Hobbies and activities, education, travel, sports, learning, television and other entertainment, balancing solitude and shared activity.
Transition from the mindset and work habits you have into the new thought process and life routines that will lead to full retirement success.
Retirement career options: Do you want to carry on working in some capacity? Are you considering a second career? Is voluntary work appealing to you? Have you always wanted to start a business? What are your opportunities and constraints?
Family and relationship issues: Developing a clear understanding of your own retirement expectations, the expectations of significant others and how to combine the two together. Balancing your personal dreams and goals with family and societal responsibilities.
Personal issues affecting couples in retirement.
Establishing the conditions for you to enjoy a more balanced life during retirement.
This presentation is thought provoking, enlightening, and is presented with a great deal of humour. People will leave with much to contemplate. Furthermore this presentation will open up whole new aspects that previously were not even considered.
“Thank you for the huge part you have played in taking Old Mutual’s new Retirement Income product to market during our national broker business interventions.
We considered two critical elements in delivering the message: the end customers and their needs during this most important phase of their lives; and the financial advisor providing qualified and holistic financial advice to his/her customers.
I believe that as an industry we are well-equipped to consider the financial needs of customers. But advice is often given without understanding the personal side of human behavior, responses, emotions and changes that the retiree faces at the time.
Your presentation certainly equipped the financial advisor with key insights regarding the relevant, appropriate and sometimes difficult conversations to have with a customer.
Your approach, insights and presentation dealing with the three critical phases – pre-, at and post retirement – covered the most important aspect of an individual’s retirement needs. The feedback received from our guests was very positive and they enjoyed the balance between facts, psychological aspects and the reality.
Again, many thanks for sacrificing family and work time. We at Old Mutual sincerely appreciate the great partnership”
National Marketing Manager
Broker Distribution Marketing
Old Mutual Life Assurance Company (SA) Limited