Retirement planning is all about the numbers, right? Not quite, believe it or not, the latter stages of preparing for retirement are almost entirely about “The Vision”....
Most embarking on the planning process are focused on numbers, and for good reason, achieving financial independence is what it seems to be all about. Yet, a funny thing tends to happen as retirement nears, the focus turns to what really matters; family, friends, health, and lifestyle. In the end, the numbers are simply a stepping stone to the big picture.
Retirement planning has a powerful psychological impact; I’ve seen it many times in my career. People often look at the process as though they’re doing their taxes, and suddenly the prospects of the future hit them. Ultimately, one of the primary benefits of retirement planning is the peace of mind it provides to focus on issues beyond the financials.
The transition from work to retirement is a major milestone in one’s life, and there are numerous personal challenges that many people underestimate. Adequate financial resources are not a guarantee of happiness, and retirement is just as easy to screw up as any other part of life. Truly being prepared for retirement is about much more than just the numbers.
