Are You Emotionally Ready for Retirement? This New Tool Can Tell You, by Scott Stolz, CFP, RICP (week 42)

 

Most of my posts have dealt with how to protect yourself against the financial aspects of retirement.  But there is an emotional aspect as well.  Multiple surveys have concluded that about 30% of all retirees struggle emotionally – either because of a loss of purpose and/or fewer social connections.  And your health can impact both the financial part as well as the emotional part.  Poor health can not only be expensive, but it can keep you from doing many of the things you long planned to do.

You’ve taken the time to get a solid financial plan in place, but how do you know if you are ready emotionally?  I’m going to suggest a new tool introduced by Cam Marston, a leading expert on workplace and marketplace trends.  Cam’s PhaseTM into Retirement assessment tool was specifically designed to help you discover how ready you are in 5 key dimensions that drive how you will handle retirement emotionally.  Those 5 dimensions are Purpose, Health, Activities, Social and Everyday.  And it will take you just 15 minutes to answer the questions and get your results.

The image depicts the PHASE Into Retirement￢ﾄﾢ logo, featuring a peaceful sunset over a tranquil river, accompanied by a brief description emphasizing the importance of purpose and clarity in retirement. AI-generated content may be incorrect.

How Did I Do?

The assessment concluded that with an overall score of 29/40 I am “well-positioned for a happy and satisfying retirement.”  In my mind though, that’s just over 70%, which would be just a “C” if I were still in school, therefore I was interested to see what suggestions it gave me to lead a more fulfilling retirement.  I was not surprised to see that my greatest opportunities were in the “Everyday” and “Activities” category.  The assessment suggested I explore new interests and create new routines.  I’ve tried to stay busy and fill each day with interesting and important things to do.  But since I’m just 9 months into my retirement, I’m still trying to find my way here.  And now that the 6-month softball season has ended, I now have to find a way to fill 3 more mornings per week.  And how do I replace Whiskey Wednesday after the Wednesday game?  As many have suggested to me, retirement will continue to be a process.

How You Can Take the Assessment

When I tell people that are still working that I’m recently retired, they often tell me that they wonder when they will be ready to enter that next chapter themselves.  “How will I know I’m ready?” is the question I often get.  The assessment is a good place to start.  You can find it at the following link:

PHASE Into Retirement™ | Retire With Purpose. Thrive With Clarity.

Once you have completed, leave your thoughts in the comment section.  I’d love to hear what you think.  And I’m sure Cam would love the feedback.

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