Ep 18: Are You Making These Excuses to Avoid Retiring?

The Concept:

Sometimes people say they don’t want to retire and they really mean it. But other times it’s just a defense mechanism to mask the opinion that they don’t feel like they can retire. Let’s look at the common excuses people make and explore the possible meanings behind why you don’t want to retire

Click the timestamps below to skip around to specific topics in the episode.

The Reality of the Matter:

Does the thought of retirement worry you a little bit? Are you wondering if you’re truly ready to move to the next chapter of your life?

We talk to many people that offer up excuses for why they don’t want to retire. Sometimes the excuses are valid but many times they are deflecting away from the true reason they don’t feel comfortable with the idea of retiring. On this episode of the Retirement Reality Podcast, Mike Kojonen will explore the possible meanings behind the statement, ‘I don’t want to retire.’

The goal for the show is to help you understand that you aren’t alone if you have doubts about retirement but there are steps that will allow you to gain the confidence to trust your plan. Understanding the deeper meanings and how you can overcome your concerns will allow you to excuse the excuses.

We will begin with the work crutch. Sure there are people that love their jobs and careers and have passion going into the office each day, but is that truly a reason to not retire? How many people will look back on life and celebrate all the hours they put in rather than the time they spent with family and friends? And if the fear is being bored, then there are ways to deal with that concern.

The other side of this discussion comes down to finances. Will you have the money you need to enjoy a long retirement? Have you worked with an advisor that you trust to put a complete plan in place or are you just relying on different investments to carry you through retirement?

[2:15] – We’re talking about excuses people make for not retiring.  

[2:33] – “I love my career.” What’s the deeper meaning to that statement?

[4:43] – “If I’m not working, I’m going to be bored.”  

[6:30] – “I don’t have enough money to retire.”

[8:01] – Mike shares a recent meeting he had where they discovered the client was going to run out of money.

[9:59] – The final excuse is when someone says they don’t have the confidence in their plan/portfolio.  

After we finish up the conversation on excuses, Mike takes a couple mailbag questions from listeners. The first comes in from someone a year away from retirement. What should they be focused on? The answer is one you probably wouldn’t expect. The second question comes from an anonymous listener who has nearly a dozen different accounts and wants to know how to consolidate that all down. We want to help them through that process because it’s important to have an efficient retirement portfolio.

[13:56] – Mailbag Question: I’ll be retiring in exactly one year. What’s on the list of things I need to do before I retire.

[15:32] – Mailbag Question: I’m overwhelmed by how many accounts we have accumulated through our careers. How much can we consolidate and how does that all work?

Thanks for checking out this episode of the Retirement Reality Podcast. We’ll talk to you again next week.

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