Retirement, or what I prefer to call ReIgnitement™, requires planning. And, while many have focused attention on financial planning for retirement, few have considered the non-financial aspects of this life transition. Transitions of any type can create stress in your life, even if the change is something that you have been looking forward to. When that transition arrives, you can react to the changes that arise such as loss of identity, work relationships, or purpose. Or, by taking a planful approach, you can prepare yourself to respond effectively to the transition and ease the way.
In this third of a series of three blogs focused on retirement, I want to provide you with a simple tool to help you gauge your readiness for this transition. If you’re roughly 5 – 7 years from retirement, or know someone who is, please use this tool or share it with another to get a quick read on your readiness. If you’re already retired, you can use this tool to pinpoint those areas that might need some attention.
Click here for the Retirement Readiness Wheel. The 8 sections you’ll address include the following:
- Clarity of Identity, Purpose
- Home/Residence, Location
- Marriage/Significant Other
- Work/Business, Volunteering
- Financial Resources
- Optimism About Aging
As you review and rate each section, take a moment to determine what that section means to you. Then, to determine your readiness, circle your level of satisfaction with each of the 8 sections on a scale of 1 – 7 (1 = least satisfied, 7 = most satisfied). Go with the first response that comes to mind as you review each part of the wheel. That tends to be the one that is most indicative of the way you truly feel.
Once you’ve rated each section, draw a line connecting each of the numbers around the circle. What kind of wheel do you have? How smooth and balanced does it feel? How bumpy might a ride on that wheel be?
If you discover that one or more areas of your ReIgnitement™ could use some tweaking and you’re not sure where to begin, a coach can help. I invite you to explore my profile as well as those of my colleagues on the Retirement Coaches Association website to find a coach who is right for you. We help our clients think about and prepare for retirement like never before.
If you haven’t already downloaded the Retirement Readiness Wheel, click on the link to do so.