This week, I’m talking about navigating life’s important transitions before and during retirement. 

Today’s important life transition is navigating the health scare. Cancer, heart attacks, diabetes, strokes, and other major health events are obviously always an issue no matter what your age, but it’s no surprise that dealing with some kind of health event becomes more common and more likely as we age. 

And many of us will deal with some kind of health scare in our 70s or you may be perfectly healthy yourself, but your spouse may have a stroke or need a new knee or experience hearing loss, or a whole laundry list of other issues. 

And since many of these issues crop up or become worse in retirement, dealing with a major health event can disrupt your plans, causing you to put travel on hold or may make it difficult to stay in your home, or cause you to struggle financially to pay medical bills. It also may require caretaking if it’s your spouse who had the health event. 

Most of my clients approaching and transitioning into retirement are acutely aware that time is running short, so I think it’s a good idea to try to front-load as much as your fun activities in your early years of retirement. I had a husband and wife as clients, who were very frugal and put off travel until retirement, but then right after they both retired, the husband was diagnosed with terminal and aggressive cancer, and they ended up not getting to do any of the things together that they planned to do. You probably know someone in a similar situation. 

Now, I’m not suggesting that you blow through your retirement nest egg on a spending binge, but within reason and within the bounds of what you can afford, it’s wise to do the important things that really matter to you sooner rather than later, because later may not ever happen at all. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

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