I have received a number of calls over the past few weeks from clients stating that they are putting in their papers to retire. After I congratulate them, I always ask, “Now what are you going to do with your time?” This is not a silly question as this life change impacts everyone in the household. Some are retiring because they need to take care of a family member. After watching my husband do that for the past three years, I know how time consuming and exhausting a job that can be. Some are retiring because there are mandatory age restrictions where they work. Many of these folks will look for part time work elsewhere as they don’t feel ready to completely leave the work force. For those who are retiring completely by choice, the story is different.
I ask my questions because when the retiree does not know how they will fill their time, things seem to fall apart. Often, the spouses are not used to spending so much time together and that may cause stress. Another byproduct of not knowing what to do is overeating and overspending, neither of which lead to any good.
Happily, most of my clients have long “honey-do” lists that they are eager to tackle, family out of town that they wish to visit, and a number of “bucket list” trips to take.
Retirement involves big decisions – not only financially but also a mentally.

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