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“Retirement Is Not Vacation”

A client told me this the other day and I’ve been pondering ever since. I  think he’s right, although I suspect that many people who are considering retirement think just the opposite. That is, many pre-retirees think retirement is like endless vacation. Well, it’s not. Vacation is typically a time with no worries and little change. And when someone is on vacation, they know they will return to their home one day soon.

Retirement, on the other hand, has many worries and you sleep in your own bed every night. Retirement worries are what keep me up at night on behalf of our clients. Retired clients running out of money is my #1 worry, but so are rising medical costs, long term care issues, loss of identify, loss of social connections, and loss of mental facilities, to name a few.

So when you think about retirement, do me a favor and don’t think of it as a vacation. Think of it as the next phase of your life with challenges, joys and goals. Just like real life is now.