As with becoming a new parent, nobody really teaches you how to retire—you are just thrown into it and learn as you go. To help new retirees just starting out, U.S. News recently listed "3 Ways to Start Your Retirement Right" (January 2015). Here are a couple:


  • Find a comfortable pace. Like a long-distance runner settling in to his optimal speed, you'll find a pace of life that's right for you. This means striking some kind of balance between relaxation and activity. If you are an early riser, you may find that mornings are great for brisk walks around the neighborhood and counter this activity with a couple of hours downtime, perhaps reading or watching television. Find a mix that suits you.
  • Take it one year at a time. Instead of planning for the next two decades, think about what you'll do over the next two years. By divvying up your time into bite-sized chunks, your future becomes a little more manageable and allows for a natural shift in interests and personal growth.


Transitioning to retirement often requires an emotional adjustment that many people find difficult. USA Today reports that as many as two-thirds of boomers struggle to adapt to retirement ("Retired Baby Boomers face emotional adjustments," February 2015).


What boomers miss most are those day-to-day social connections with coworkers: 37% of survey respondents said this was the toughest part. USA Today suggests tips for feeling confident about your transition to retirement:


  • Be in control of your retirement decision. Decide when and how you retire.
  • Prepare yourself emotionally and socially. Make sure you have something to replace the strong social networks of the workplace.


Finances aside, what do you think is the hardest part about retiring?


Plan for the possibility of incapacitation. Consider appointing someone to make legal and financial decisions for you if you should become unable to make them yourself.


Are you 10 years (or less) from retirement? What else are you doing to prepare?




The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results.