What comes to your mind when you think of retirement and life away from the general routines your job entitles you to? According to HCR Wealth Advisors, most individuals associate retirement with financial planning. A significant number of individuals planning for retirement often neglect the emotional, physical, and psychological adjustments that come with retirement, which play a significant role in ensuring they lead a meaningful life outside the confines of a job.
The registered investment advisory firm believes it is time for individuals considering retirement, already retired, or in a relationship with a retiree to consider the non-financial aspects of retirement. The affected parties need to rethink and re-strategize on how to address personal adjustments associated with retirement like the loss of identity and disengagement from the habitual schedules and how to adjust to the new environment. HCR Wealth Advisors refers to this realization and adjustment as the ‘New Retirement.’
The Shift From Happiness to Stress and Depression
HCR Wealth Advisors (@HcrWealth) observe that almost every individual looks up to retirement with sheer optimism about the life of freedom and happiness lying ahead. However, the investment strategists argue that without a proper plan that addresses both the financial and non-financial aspects of this new life, this optimism can quickly turn to frustrations. Coupled with such other negative accompaniments of aging like poor health and boredom, the retirement can see the once-bubbly professional may sink into stress, depression, and even loss of self-esteem.
Learning How to Cope with Retirement
HCR Wealth Advisors wealth management experts argue that if a retiree is to hop out of this trap or avoid it all together, they first need to understand the concepts of retirement and plan on how to deal with each. They need to understand that retirement means changes in different spheres of life, loss of benefits, and connections.
According to Crunchbase, New Retirement then dictates that you start planning on how to address these issues. For instance, you need to start preparing psychologically for the habitual changes that often accompany retirement, plan on whether to solely rely on retirement benefits or turn passion or profession into an income generating service. Most importantly, make plans on how to live right by maintaining your body and mind.
About HCR Wealth Advisors
HCR Wealth Advisors is a registered investment advisory firm that specializes in offering investment and wealth management to its broad list of clienteles. Such advice not only covers the financial aspects of life but also delves into non-financial and personal management advisory.
HCR Wealth Advisors is not affiliated with this website.