It’s not about money. Here’s what they didn’t know — and what you still can.
Retirement planning isn’t just about finances. It’s not uncommon for retirees to say they wish they had known to prepare for the emotional, social, and personal transitions that come next.
I wish I had known about caring for my aging parents before it was time to do so. I should have done my homework about what I was about to experience. It would have been less stressful, and I would have felt more confident.
What is a situation or transition that you have experienced, and later you said to yourself, “I wish I had known more about this before experiencing it”?
For example:
- Beginning a new career or starting a business
- Moving from one location to another
- Getting married
- Becoming parents
- Becoming a caregiver to a loved one
- Becoming empty nesters
And the list goes on. Transitioning into retirement is no different.
What is non-financial retirement planning?
Non-financial retirement planning means preparing for the emotional, psychological, and social changes that come with leaving your career — not just the financial ones.
“I wish I had been better prepared for retirement” — that’s how 87% of respondents answered a study conducted by the Retirement Coaches Association.
They were not referring to having enough money in the bank. They were referring to the non-financial aspects of retirement. Had they been better prepared, they might have felt more confident about transitioning from their careers to retirement.
They didn’t know what they didn’t know.
The 5 most important non-financial changes in retirement.
Before retiring, it’s crucial to recognize several significant changes that will happen. Here are the five that matter most:
1. Your identity — who are you without your title?
Your position on your business card will no longer define your identity. How important is this? It carries with it your purpose. It’s your brand and how others see you. Without this title, who are you, and what is your new purpose?
2. Structure — how will you spend your time?
This is what shapes each day, from the moment you get up to when you go to bed. According to Investopedia, the average American works 1,796 hours annually. That’s a lot of time suddenly added to your daily life. How will you fill your days to feel fulfilled?
3. Feeling appreciated — what makes you feel valued?
This satisfies basic human needs for purpose and connection and, for many, means more than just a paycheck. What will you do to feel valued and appreciated.
4. Social engagement — how will you stay connected with others?
Whether it’s team members, clients, customers, or peers, staying engaged with others is a constant part of our work. After retiring, many retirees say the thing they struggle with most is missing their friends and colleagues. Studies show that to maintain our physical, emotional, and mental health, we must prioritize engagement with others. It’s a key factor for longevity. What are some different ways to do this?
5. Continued learning — remaining curious?
One way we progress in a career is by continuing to learn, develop, and remain relevant. To carry this forward after retirement, we need to remain curious and keep learning. Remaining curious fosters lifelong growth, builds resilience, and supports overall mental agility and well-being as we age. What is something you have wanted to experience or learn about?
By becoming aware of these everyday aspects of your career, which ones matter most to you? What are the ways you can replace them once your career is behind you?
As a Certified Retirement Transition Coach, these are the questions I am asked most often:
What did you do when you retired?
I read an article about retirement coaching, which piqued my curiosity. I researched it, found it very interesting, realized it was needed, became excited about it, and completed the certification process to become a coach!
What you need to know before you retire
When should I start planning for the non-financial side of retirement?
Ideally, one to three years before you retire. This gives you time to explore new interests, build social connections outside of work, and envision how you’ll spend your time.
What if I’ve already retired and feel unprepared?
It’s never too late to get ready. A certified retirement coach can always assist with this, no matter how long someone has been retired.
Is it normal to feel lost after retiring?
Absolutely. Retirement is similar to any other major life change because of the many adjustments involved. It’s a process, not a one-time event, just like moving, changing jobs, getting married, becoming parents, and more. There’s the beginning, the “messy middle,” and then the new normal. Recognizing that this is common can help you navigate it without judgment.
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