Nicola Rodda’s Post

The truth is that the desire to live a life of significance never ends, even in old age, and this is how to keep your mind and body going. A successful retirement life is not without problems but, is one in which you learn to overcome them. It is important to acclimate to the many things that retirement may throw at you and to understand the role resilience plays in achieving this. Read the full article by Marius Fenwick, CFP®. #financialplanning #article #retirement #retirementjourney #planningforthefuture #lifeafterwork #community #positivepsychology

Retirement isn’t just the end of your career—it’s the beginning of a new journey. In this article, Dr. Amy D’Aprix offers insights on how life planning can help you find purpose, strengthen social ties, and navigate life’s changes with resilience. https://lnkd.in/gmkWYuJb #londonontario #ldnont #retirementplanning

89% of workers have experienced burnout in the last year. (Stop ignoring it) That stat suggests that you're one of them. 🚫 Stressed 🚫 Understaffed 🚫 Treated unfairly 🚫 Excessive workload 🚫 Lack of motivation and interest But you keep grinding it out. You keep showing up every day, hoping to get one day closer to your retirement goal. You grin and bear it, but you're miserable. You'd love to call it quits. You'd love to throw in the towel. You'd love to return to life as you knew it before. Sadly, this was my client. I could see it in his face. I could see it in his body language. I could hear it in his voice. Broken. Beat down. A shell of himself. It made me sick to my stomach. He planned to retire in 2 more years. I suggested he consider retirement now. He didn't think it was possible. ❌ Two less years of earnings ❌ Two less years of contributions. ❌ Two less years of growth on his assets ❌ These were the lies he was telling himself. You're probably doing it too. But it doesn't have to be that way. It didn't have to be that way for him. We ran the numbers. Looked at comparative scenarios. He COULD retire TODAY! Might this be the same for you? I bet these are the lies you're telling yourself. 🤥 Lie #1: Working 1 more year will secure retirement. ➡️ Yes, savings increase with time. ➡️ But is another year of work aligned with your desires and goals? ➡️ Gain confidence in your retirement planning. ➡️ Consider the real numbers. ➡️ Explore different scenarios. 🤥 Lie #2: Retirement equals loss of value and significance. ➡️ Work does provide fulfillment. ➡️ But retirement can too. ➡️ Find what you love doing. ➡️ Identify your skills. ➡️ Determine what the world needs from you. ➡️ Use your wisdom and abilities to help others. ➡️ Contribution is vital to a fulfilling retirement. 🤥 Lie #3: Retirement is boring. ➡️ Boredom creeps in when you haven't planned your retirement well. ➡️ Don't just retire from a job you dislike. ➡️ Retire to something exciting and fulfilling. ➡️ Make a smooth transition. ➡️ Explore the three Cs of retirement: ✅ contribution ✅ connection ✅ creativity. Life is short. Time is scarce. Be honest with yourself. You may be ready. More ready than you think. It starts with a plan. 👉 What are you doing to see if you're on track to your retirement goal? *** P.S. If you want to join others in retiring confidently, building a more intentional life, and making the most of your life with your money, follow me 🔔 here. *** ✍️ Care to share your thoughts? ♻️ Reshare if you enjoyed this.

Retirement, commonly depicted as a phase of endless relaxation and leisure, may present an unforeseen challenge: monotony. As individuals make the shift from the structured routine of their professional careers to the newfound freedom of retirement, many encounter difficulties in discovering a sense of purpose and satisfaction. This is why it's essential for retirees to actively seek out activities and pursuits that bring fulfillment and meaning to their retired lives. #PurposeInRetirement

Plan to retire earlier than 65, even if you "love" your job. You just never know what may happen to you over the next 10, 20 or 30 years. Traditional retirement is far away. You may think that you will enjoy your job forever. You may think that you will be able to work until 65. But... 🟡 You may get fired at 60 and not be able to find a job. 🟡 You may get health problems, preventing you from working. 🟡 You may end up disliking your career, company, team, etc. 🟡 You may get burned out. 🟡 You may lose a high-paying job and not find one with the same income. Too many variables that are out of your control. Planning to become financially independent before 65 gives you options. It gives you a level of control. I say financially independent because that's what you need to be to retire with your desired lifestyle on your own terms. Social Security will only partially cover your retirement income needs. ~30-50% of what you will need. Just putting money in the 401k to get the employer match won't be enough. Waiting till your 50s to catch up on your finances will cost you dearly (compounding interest won't have time to work for you). Many people retire a lot earlier than anticipated. Mostly for reasons outside of their control. Planning for this starts decades in advance. Be proactive. Start planning. Stay the course. Enjoy the journey. If you need help getting started or to check if you are on target to ever retire, let me know and I can assist. #knowyourkoyns

No Lifestyle Plan How will you spend the next 30 or 40 years of our life? The shift into retirement is so much more than a financial event. It changes your lifestyle and self-perception and completely alters how you will spend your time. As a retirement coach, I often hear from anxious clients who are unable to visualize the rest of their lives. Planning the rest of your life can be less daunting if you start before you retire. We cannot know what the future holds for us, but the adjustment will be less challenging if you hold the attitude that this is a time of possibilities and new beginnings.  Sometimes people talk about the emptiness and boredom that can happen if you don’t have a plan. You’re less likely to encounter problems if you’ve thought in advance about what you want it to be like. Retirement is a time to disengage from your old self and reboot, renew and create something new. Take the time to clarify your core values, discover activities that are meaningful to you, identify relationships that you want to nurture, and create a bucket list. Spend time visualizing what an ideal day, month, or year might look like. This pre-retirement work helps you deal with the emotional challenges of leaving your work identity behind.  I advise my clients to have a plan but to hold it lightly. Circumstances change as we move through life and your plan should change and evolve along with you. For example, clients who plan to travel must consider how mobility or health changes might affect their plans. You might want to consider traveling in a group, letting someone else take charge, or maybe someone else can do the driving? Good proactive planning can help reduce any potential negative effects. 

Retirement is a significant life change. It can also present some challenges and opportunities that people may not have ever experienced in their lives before. In the following article written by Teresa Ghilarducci and published in Forbes, Teresa shares a psychological model to follow to help people transition into retirement - P.R.I.M.E. P - Protect Your Time: Once retired, you need to create some boundaries and protect your time rather than being absorbed into the "they are retired and have nothing else to do" vortex. R - Routine Replacement: You lose your routine when you retire so you need to develop a new schedule that will serve you well in your retirement. I - Identity Creation Many people's identity may have tied to their careers so when they leave them, they may feel a sense of loss. This loss needs to be replaced with something else. M - Meaning Definition Everyone's life should have a sense of meaning (believe this can sometimes also be referred to as purpose) - and this need continues in retirement. E - Emotional Connection and Regulation Connecting with others and feeling like you are making a positive difference in some way can be extremely important and valuable in retirement. Just some things to consider as you prepare /design your retirement that may help make this significant life transition smooth. https://lnkd.in/egWA26Yi #babyboomers #boomers #retirement #retirementplanning #health #mentalhealth #retirementprep

Is there a Solution? I really need to get back to work. My mind has stopped going down rabbit holes and is now doing whole warrens. My latest burrow is around the idea of solutions trigged by a Ted Talk I stumbled over. The gist is we dismiss, drink, drugs or indeed religion as, not a solution to the problem/trauma we are facing. The Talk made the salient point they were indeed solutions though maybe not necessarily "perfect" ones for the individual or indeed societally acceptable. This idea of perfect/ imperfect was re triggered by a LinkedIn post today with a business articulating their solution to the ills of #retirement. To me it appears an intricate investment solution that talks about tailoring to the individual. Which put it, to me, in the less perfect solution, remembering that doesn't mean it's bad just is it the best thing for the individual? To me the solution to retirement starts 40 years before the event. Simply put if you have not much above nowt in your pot at #retirement and assuming you haven't gone down the religious route of believing in miracles you are screwed. Continuing work or an acceptance of a life below subsistence is your reality. But assume you have been sensible and saved as best as educated to. You now have choice but how do you know what the solution looks like? By mapping (envisionment) out your needs yes it's #Maslow against your longevity and overlayed by your physical and mental health over this period. Add into that mix your partner as although it's a one way ride there is room for two. None of the above yet has anything to do with investing or product for that matter. And before we even start to pull those into the mix we need to better understand our other non #pension assets that we have and what and when we need to pull the lever on them. ISAs, Equity Release or just State Benefits. How would we like to spend our amassed wealth over what is left of our lives and indeed do we leave a little £ behind? Now we are building a picture of our needs albeit framed at a single moment, so this needs to be fluid as events change on a sixpence. But we are seeing, as are they, the solution from the individuals/ household perspective not one of product or product provider. Whether this equates to a perfect solution is one to debate. But it starts where it must the individual making it as clear as possible what they want, understanding their limitations maybe due to the pot size or health and tailoring life accordingly. Now we are ready for products and investments to cover the question of longevity, cover against declining health and getting a decent return on our wealth. I suspect that we better add in a tax advisor just in case. The question is who can provide all this to deliver an optimal solution for retirement? The answer is your pension provider your provider for life. And a secondary answer for absolute clarity a default retirement option is no solution. Bises D

Is there a Solution? I really need to get back to work. My mind has stopped going down rabbit holes and is now doing whole warrens. My latest burrow is around the idea of solutions trigged by a Ted Talk I stumbled over. The gist is we dismiss, drink, drugs or indeed religion as, not a solution to the problem/trauma we are facing. The Talk made the salient point they were indeed solutions though maybe not necessarily "perfect" ones for the individual or indeed societally acceptable. This idea of perfect/ imperfect was re triggered by a LinkedIn post today with a business articulating their solution to the ills of #retirement. To me it appears an intricate investment solution that talks about tailoring to the individual. Which put it, to me, in the less perfect solution, remembering that doesn't mean it's bad just is it the best thing for the individual? To me the solution to retirement starts 40 years before the event. Simply put if you have not much above nowt in your pot at #retirement and assuming you haven't gone down the religious route of believing in miracles you are screwed. Continuing work or an acceptance of a life below subsistence is your reality. But assume you have been sensible and saved as best as educated to. You now have choice but how do you know what the solution looks like? By mapping (envisionment) out your needs yes it's #Maslow against your longevity and overlayed by your physical and mental health over this period. Add into that mix your partner as although it's a one way ride there is room for two. None of the above yet has anything to do with investing or product for that matter. And before we even start to pull those into the mix we need to better understand our other non #pension assets that we have and what and when we need to pull the lever on them. ISAs, Equity Release or just State Benefits. How would we like to spend our amassed wealth over what is left of our lives and indeed do we leave a little £ behind? Now we are building a picture of our needs albeit framed at a single moment, so this needs to be fluid as events change on a sixpence. But we are seeing, as are they, the solution from the individuals/ household perspective not one of product or product provider. Whether this equates to a perfect solution is one to debate. But it starts where it must the individual making it as clear as possible what they want, understanding their limitations maybe due to the pot size or health and tailoring life accordingly. Now we are ready for products and investments to cover the question of longevity, cover against declining health and getting a decent return on our wealth. I suspect that we better add in a tax advisor just in case. The question is who can provide all this to deliver an optimal solution for retirement? The answer is your pension provider your provider for life. And a secondary answer for absolute clarity a default retirement option is no solution. Bises D