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Emotional issues of retirement - What every financial advisor should know


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Many times, it's easier for Financial Advisors to focus on the nuts and bolts of getting clients ready for retirement without acknowledgment of the emotional side of this major life event. I've put together this slideshow to review just some of the psychological issues FAs should be aware of and be prepared to discuss.

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Emotional issues of retirement - What every financial advisor should know

  1. 1. Emotional Issues of Retirement What Every Financial Advisor Should Know
  2. 2. Even when they have a financial plan in place - Many clients are not prepared for the emotions that revolve around retirement.
  3. 3. What Every Financial Advisor Should Know Emotional Issues of Retirement
  4. 4. Fear of no paycheck Clients may fear that they will be unable to live on their investments only.
  5. 5. Fear of change A client might be scared of change or what the transition will hold.
  6. 6. Party left in me Many people feel the word “retirement” means the end of the road, yet they still have lots of “party” in them.
  7. 7. Fear of last day The last day of work means a final chapter and it’s a poignant time.
  8. 8. Loss of hierarchy and structure No more getting up early to work? It may not be the dream that some envision.
  9. 9. Loss of Identity If the client no longer has a career, they may question their identity relative to society.
  10. 10. Relationship Dynamics If both partners stay home full time, how will that change their relationship dynamic?
  11. 11. Fear of physical illness What if the client or their partner becomes ill? What happens to their bucket list plans then?
  12. 12. Fear of mental decline Clients may feel that not working will cause them to lose their mental faculties or bring on dementia.
  13. 13. Fear of becoming a burden If the client falls ill after retirement, they may want to avoid becoming a burden to their partners.
  14. 14. Loneliness What will happen to the social life that revolved around their work?
  15. 15. Created by Antoinette Rodriguez, MBA Sales and Marketing Consulting for Financial Advisors