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Frightened of retiring

WHEN I talk to people managing super funds all of them point to the issue of many people being frightened of retirement and not wanting to think about it

NEST EGG: Are you prepared for your twilight years? Picture: Contributed
NEST EGG: Are you prepared for your twilight years? Picture: Contributed

WHEN I talk to people managing super funds, nearly all of them point to the issue of many people being frightened of retirement and therefore not wanting to think about it or consider any planning.

This is a strange response as most people would agree that the ostrich solution of putting its head in the sand is not a great strategy for planning the next 20 years.

People can be frightened for a wide range of reasons.

Some of the more common examples are - not enough money saved / worried about how to fill in your time / I like my job and don't want to leave / retirement is going to be boring / it's the end of my productive life.

These are all valid concerns, but doing nothing to resolve the various fears isn't going to improve things. If we don't plan for ourselves, others will probably do it for us and we mightn't like the results.

The good news is that help is available if people are prepared to take some control of their lives.

A financial advisor, either with your super fund or with an accountancy or financial planning group can generally suggest ways that you can improve your financial position prior to retirement.

For all the non- financial concerns, we have published a range of 5 books that provide good information and practical advice that can help to understand and manage issues like - Health, Relationships, Lifestyle Planning, mental attitudes, volunteering, travel, motivation and working part time.

You can find out more on our web site at mylifechange.com.au

The more information you have, the less frightening the idea of retirement becomes.

Original URL: https://www.dailytelegraph.com.au/news/nsw/coffs-harbour/opinion/frightened-of-retiring/news-story/b0b13639bf79eb594b5bd64980fd66ce