Preparing for Retirement: Beyond Finances

While we tend to focus on the financial aspect of preparing for retirement, the Wall Street Journal (full article for subscribers only) talks about the emotional difficulties of shifting from career to retirement. Preparing for the psychological aspect of retirement is important – especially for those who define themselves by their jobs.

A majority workers may not give this much consideration because according to the Retirement Confidence Survey, approximately two-thirds of workers plan to continue working, at least part-time, during retirement. However only about 37% actually do. This has both a financial and psychological impact on retirees -- underscoring the need to approach preparing for retirement holistically.