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Tuesday, November 2, 2010

Retirement - Great Time or Bust?

blog posting by Richard Atkinson, Founder and President of RA Retirement Advisors

Pension plans and asset accumulation are one side of retirement. But what about a retiree's shrinking social network and the possibility of loneliness?

Do you know clients who are dreading retirement because of concern how they will keep themselves occupied or fear of the 'honey-do' list?

Research shows successful retirees plan for happiness and productivity. They evaluate what's important and construct actions to satisfy their needs and wants. By creating a vision of a realistic retirement and building an action plan to achieve it, they are proactively and energetically seeking the results they desire.

As a financial advisor, you can assist clients create a realistic vision of retirement including how to build a balanced health and leisure strategy and the importance of a positive attitude.

As a first step towards building a retirement vision, ask a client:
  1. "Who do you know who is successfully retired? What are they doing that you admire?"
  2. "Who do you know who is unsuccessful in retirement? What are they doing or not doing that is hindering their retirement?"
  3. "What do you need to plan for and do to be a successful retired person?"
Encourage your clients to create their detailed vision of retirement and then together regularly review the vision. Ask questions such as "What's working?" "What's not working as you would like?" "What do you need to do differently?"

Be open and receptive to client concerns - this increases trust and understanding within the client relationship.

The added value can be monumental and it doesn't cost anything more than time.

Richard Atkinson, Founder and President of RA Retirement Advisors, is an expert in pre-retirement planning. He is also author of the best-selling book, Don't Just Retire - Live It, Love It!

To contact Richard, call 416-282-7320 or write: 7 Blue Anchor Trail, Toronto, Ontario, Canada. /