Top 3 (negative) Words Associated with Retirement
The TransAmerica Center for Retirement Studies conducts annual research about the topic of retirement. Interestingly, they don't just poll those nearing or at retirement age. They span across Gen Z, Millennials, Gen X, and Baby Boomers. There are many intriguing components of their research (you can peek around the whole report here).
I previously wrote about the top 3 positive words associated with retirement (read here). Today, I want to share the flipside. While the vast majority of workers cite positive word associations with retirement, there are some (43%) whom have negative associations with the big life change.
Our words are powerful. They paint pictures in our minds. They encourage, motivate, and soothe us. Or, they can deflate, discourage, and induce fear. Words set expectations internally and externally. They greatly influence our emotions and, of course, they tell our stories to those around us.
As you envision “negative” think: absence, downturn, or undesirable. The 3 top cited words certainly embody those characteristics:
Health Decline
Financial Insecurity
Boredom
What do you envision when you see these 3 words strung together?
Aging skips no one so it’s no surprise that health is top of mind. It’s interesting, though, that while one could choose to approach retirement with healthfulness - choosing to pour into their body with healthy movement and nutrients and care as they continue to age - some may simply assume that “it’s all downhill from here”.
The career to no-career transition is a fantastic time to take an honest look at what’s working for your physical wellness and what’s not.
Unsurprisingly, financial insecurity is also in the top three as there is so much unknown that comes right to the forefront for this transition.
- What will the markets do?
- What health costs will we incur?
- How long will we live?
- Will we have enough?
- What other emergencies for our kids or family might come up that we want to help with?
And on, and on…
The best time to plan and prep for this is transition is well before you get to the threshold. Work with an investor or a financial advisor that you trust. Ask lots of questions. Be clear on the numbers. For some, no number feels high “enough”. If you find yourself not being able to shake the worry of insecurity, that’s a great signal to talk to a coach or counselor about what the barriers might be. What a gift it can be to you and your loved ones to truly enjoy this life stage without that worry clouding your experiences.
The 3rd cited word, boredom, is actually the one I, as a Life Coach, hear the most about from clients. There is often a link that needs to be made from living out a purposeful career to leaning into a broader purposeful life. This takes curiosity, experimentation, and intentionality. Another stat from the study found that 9% of baby boomers do not have any retirement dreams. This is concerning!
Dreams promote vision.
Vision promotes right action.
Right action promotes confidence and peace of mind.
Confidence and peace of mind promotes healthy living.
When folks do the important personal heavy-lifting to build a bridge to a purposeful next season, then boredom doesn’t stand a chance.
Know someone who needs a little brainstorming and help with any of these 3 worries for retirement? Our group coaching Retire Wellthy is a great place to gather support from a coach and peers. Schedule a brief call to learn more here.
