How to Prepare for Retirement: Retirement Coach, Ann Nelson Reveals Three Questions Every Person Should Ask To Be Happy in Retirement

According to Queensland retirement coach Ann Nelson, in order to feel happy in retirement people need to understand the type of lifestyle they would like to lead in their later years first and foremost, and then plan their finances around that. www.annnelson.com.au
 
“When people are young and productively working, they tend to give retirement less thought. The majority regard it as something to deal with only later in life, but it actually requires long-term planning,” says the retirement coach. “An unplanned retirement can easily lead to feelings of loneliness, struggles with self-worth and confidence, and financial difficulties.”
 
Ann experienced her own challenges coming into retirement, when she was left a widow at age 55. She had to learn how to manage her finances, and made a lot of mistakes along the way. This motivated her to join groups for finance advice, attend meetings and listen to seminars in order to gain the knowledge and skills she needed to be prepared, secure and happy in retirement. www.annnelson.com.au
 
“When people enter retirement, there is usually a honeymoon period that lasts about 12 months,” says Ann. “But following the initial year of retirement, people soon realise that they will need to set life goals and reorganise their way of being, in order to enjoy the later years in life while still feeling a sense of purpose and direction.”
 
Ann encourages people of all ages to learn how to prepare for retirement by asking themselves these three simple questions.

1. What coping strategies are in place after the regular income stops?
   “Most people don’t know how much money is in their superannuation fund, and therefore don’t plan financially for their own lifestyle and expectations once they’ve reached retirement,” says Ann. She urges people to contribute 15 per cent to their superannuation fund if possible, instead of the industry standard of 9.5 per cent. Parents also should consider downsizing once their children have left the house.
   
2. Have life goals been set?
   “Without a purpose, we can get lost. Once you know what your purpose is, the decision making process becomes clearer. You don’t need to change the world or save the planet, you just need to enjoy the last part of your journey,” the retirement coach says.
   
3. What does the shift into retirement look like, and what steps have been taken to prepare and cope with the adjustment?
   Some people struggle more than others with the lifestyle change. Ann says: “Most people in this country find their own identity within their job and their income. So many people find it difficult to relate to retirees once they have no label and aren’t connected to their job, and retirees struggle without that identity. Jobs also give people social connections from interactions with work mates, and a purpose, even if that purpose means getting out of bed every day and driving to work. This loss of identity and feeling of isolation can often lead to depression in the elderly.”

Contact Information

Ann Nelson

Author - ’Retire Well, Retire Happy’

Ann Nelson Enterprises

(61) 417 727 804

annnelsonenterprises@aenelson.net