Louise Nayer, author of Poised for Retirement: Moving From Anxiety to Zen, kept a diary right before she officially retiring and during the first few years of retirement and she used this, along with interviews and research, to write a book to help retirees.
Nayer told Forbes in an interview that she found whether people were well prepared or ill prepared for retirement, they were all worried about money.
In hindsight, Nayer considers some financial decisions her family made and says she might have done some things differently. She muses that her children may have been just as happy without going to private schools and seems to regret taking out a home equity line. And while she knows it would not have been easy to do, told Forbes that it would have been better to have her mortgage paid off before retirement.
While Nayer is direct about the financial challenges she has because she retired before she was really financially ready, she also notes that she and her husband experienced better health once they were no longer at their previous jobs. She also says that people should think about what makes them happy and do “more emotional planning as well as financial planning.”
Overall, a better financial outlook may make it possible for you to meet your social and emotional goals for retirement and a Fee-Only financial planner can help you with retirement planning to meet those goals.
For example, Nayer would like to see friends more often but she and her husband rent out space in their home with a website that facilitates short-term rentals and this cuts in to their ability to have friends visit. Since they rely on that income, they cannot stop the rentals altogether.
Nayer recommends that people who have anxiety about retirement try relaxation techniques such as taking a deep breath and setting limits on the time you spend thinking about certain troubles. In addition to trying to alleviate anxiety, she also suggests finding ways to fill your life with positive practices like exercise, activities you like, and healthy eating.