PREPARING FOR THE TRANSITION TO RETIREMENT (2 of 2)
01.Core Concepts
• Clients preparing for retirement will have questions about: • Financial planning and budgeting • Investments, asset allocation, and risk management • Health insurance and Medicare • Social Security • Lifestyle and personal fulfillment • Questions should go beyond “Can I afford to retire?” • Am I ready to retire? • Why am I retiring? • Why now? • Intrinsic vs extrinsic motivation to retire DISCOVERING THE CLIENT’S VISION FOR RETIREMENT • The vision guides the plan. • Motivational interviewing • Guides the client to discover their own reasons for making the transition to retirement. • Decisional balance • Helps the client assess the advantages and disadvantages of retirement • What do you love about your job that you will miss after you stop working and how will you replace that in retirement? • Downward arrow • What does this mean to you? • What makes this important to you?