Be aware of the stresses that happen when you retire and when you're about to retire and learn methods to cope or prevent these possible stresses.

Main Questions Asked:

• Are you prepared for lifestyle changes after retirement?
• Do you have new challenges and opportunities to fill your time?
• Are you making decisions that could box you in?

Key Lessons Learned:

Stresses in Retirement

• Understand the lifestyle changes that come with retirement. When people retire their lifestyle slows down and they are no longer on the clock. There's no one telling you what to do. There's no office drama. You might get less stuff done in a day. Removing so many things from your life can create a vacuum, and it may be difficult to go through these changes.
• Embrace the opportunity to face new challenges. When you retire, you might take on new fitness challenges and get more involved in your grandkids life. Find challenges that keep you engaged and active. Also, create opportunities to relax.
• Keep your options open. Don't nail yourself into a certain stream of income, or something that you can't change. Sometimes people move to Florida and then want to move back home. There is no shame in changing directions.

Listener Questions

• Do I need life insurance to make sure my wife is okay after I'm gone? You can find out if you need life insurance with our retirement income plan.
• I have an old rental property that I would like to sell, but I'm worried about taxes. Should I sell it anyway? This depends on your situation and your assets and cash flow. Take into account your true cash flow after expenses and taxes. You need an analysis for this important decision.
• I consider myself a conservative investor. Should I loosen up and take more risk? I would be cautious about taking more risk at this time without a full financial plan. You need to understand your tolerance for risk and have a plan for your retirement.

Links To Resources Mentioned

Money Map Retirement Review

1-800-757-0436

Thank you for listening!