Archive for pre-retirement planning


Anna D. Banks, EzineArticles.com Basic Author

By Anna D. Banks, GCDF

One of the principal questions facing retirees, or people planning for their retirement, is what to do with the rest of their lives. After all, people of the retiring age are no longer as old as the previous generations. Your retirement can be a time of great purpose and of indulging passions. Life, far from being over, is venturing into a new interesting path, leading to greater meaning and productivity.

Space for a new career in your pre-retirement planning stage, enables you to decide on the great question: “what next”. A growing number of CEOs, doctors, business owners, high ranking executives and so on, are charting their “Plan B” and deciding their new careers after retirement. If you are in the early stages of pre-planning your retirement, consider a new career option. There is, of course, more than one reason for doing so. In this age of inflation, and longevity, you are definitely likely to need much more money to retire than you may initially think. Under these circumstances, leaving your own business or company can be a major decision if you have no idea of what to do next.

To keep busy, or to supplement the retirement income, most executives or professionals are willing to continue their lives of stress simply because they have no clue about what they could do instead. They feel as if there is no other choice or work option. It is very conceivable that they would need the equivalent salary, but they may not be able to come up with what else to do to earn that income. This only leads to poor decision making, misery, and wasted years. In other cases, change may be forced by lay-offs, mergers and so on.

It is a common perception that one has to continue in the chosen career path that one has pursued all along. Professionals tend to think of in terms of that single role. People often forget that almost everyone is multi-faceted, talented, and there is nothing to prevent a career change. Making the right choice for a new career can be difficult. This is all the more reason why most people should include a new career in their pre-retirement planning. Consider careers that include, or can be derived from your other interests, hobbies, or talents. Lower stress levels, part time involvement and more flexibility is eminently achievable, all you have to do is plan ahead.

If you are, and have been a fairly successful individual in your career so far, it is all the more essential to create a plan for your post retirement career. Set your goals in advance, define a career path that you want to follow, consider issues such as relocation, explore flexible work options like consulting, volunteering, or social and community work. If you feel the need, consult an expert who will be able to help you plan the move to your second career. Alternatively, you can go online to search for the right tools that will help you to discover and define your passions and interests and make a positive career change.

© Anna D. Banks, GCDF

ANNA D. BANKS, GCDF is an adjunct professor at Essex County College, career development and marketing coach, speaker, and author. Anna helps individuals design a game plan for an extraordinary career or business. Since 1996, Anna has helped hundreds of job-seekers, managers, business owners, and sales professionals achieve career success. For more information send an email to Anna@AnnaBanks.com.

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Author’s Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please post your question this site or email your questions to me at Anna@AnnaBanks.com.

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By Anna D. Banks, GCDF

Retirement is a new chapter of adulthood as it transforms a person to a time of passion and purpose. Retirement is not the end of everything. It is just the beginning of a new and relaxed life which could turn out to be interesting and more productive if you plan well. So design your next phase well to lead a meaningful second adulthood.

Many people are uncertain about their pre-retirement planning. Are you confused about the right plan or selecting a career path after retirement? You should be, and more so if you are nearing your fifties as you have plenty of years to plan ahead and this question is the one that should lead you to the right path. Some people find pre-retirement planning very tedious and boring and they feel that they would need more money than they calculate. Many executives prefer leading stressful life, as they don’t know how to start planning for their retirement. Some find themselves locked in a decent pay pack and they cannot think of anything else or any change over.

You should plan well for your retirement. Seek the help of a counselor who can create a plan for your retirement and help you set your goals or define your career path so as that you can lead a satisfying retired life. Counseling is generally based on your needs and either the counselor guides you to a specialist or provides a referral. Counselors are well versed to handle all your issues relating to relationship, financial management, life balance issues, stress and well as anxiety that accompanies when you near the retirement stage.

If you seek help from the Employee assistance program, then you will be guided by counselors who formulate step-by-step pre-retirement plans, focusing on the emotional readiness of the transitional phase towards retirement. Conselors identify the stress and anxieties associated with retirement and help you handle them by discussing the use of time and money. They also help you handle your health problems and identify community resources.

Retirement is very critical for some people and other than financial issues some also face restlessness. Experts are not satisfied with the currently available pre-retirement programs as they find them shallow. They suggest that a counselor should give a holistic approach towards understanding:

• Current financial resources and the future needs.
• Management of leisure time more meaningfully, by pursuing hobbies or
opting for some volunteer activities, or
in reflection and contemplation.
• Obtainable property, or health and safety.
• Relationships.

Research shows that pre-retirement people refuse to seek help from counselors. But slowly this trend is changing and many corporations now offer specific pre-retirement help. Counselors play an important role in providing financial information with meaningful suggestions based on a special sensitivity to the fact that anxiety about retirement is often about aging.

Counseling the elderly during the pre-retirement stage is a new and challenging field that promises a more satisfying, meaningful life for America’s older citizens. The little planning and initiative goes a long way.

© Anna D. Banks, GCDF

ANNA D. BANKS, GCDF is an adjunct professor at Essex County College, career development and marketing coach, speaker, and author. Anna helps individuals design a game plan for an extraordinary career or business. Since 1996, Anna has helped hundreds of job-seekers, managers, business owners, and sales professionals achieve career success. For more information send an email to Anna@AnnaBanks.com.
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Author’s Note:
Do you have any questions about career development or lifestyle changes for Baby Boomers, which you think others, like you, would want to know the answers? Please post a comment or email your questions to me at Anna@AnnaBanks.com.

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By Anna D. Banks, GCDG

Retirement is a subject that you cannot afford to postpone for long. It is an issue that needs to be dealt with sooner, rather than left for later. Pre-retirement planning on-line seminars can prove to be beneficial to not only those who are nearing the age of retirement, but also in the case of those who would like to start early preparations in order to secure their future. Read More→

Categories : Retirement
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by Anna D. Banks, GCDF

Just investing in a retirement plan does not guarantee that you will be financially secure at your retirement. One mistake in planning for your retirement could land a baby boomer in a heap of trouble and push your retirement back by years. To make sure that you are in the perfect position to retire when you want to, and on your own terms, diligent planning is as essential as is avoiding the most common pre-retirement planning mistakes that baby boomers make. Read More→

Categories : Retirement
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