Preparing for Retirement

Aim:	Anyone approaching retirement may be experiencing a mixture of emotions – from a positive anticipation of having more leisure time to pursue new activities, to feeling anxious about managing finances on a reduced income. Relationships with partner, family and friends will need adjustment, and the newly retired person may well feel a sense of loss when they no longer have the focus that a career had provided. The better prepared that one can be for these significant life changes, the easier the transition is and retirement becomes more enjoyable and fulfilling. Pre-retirement training with follow-on individual coaching has proved to be the most effective format in achieving this outcome.
Course Objectives:	Gain a focus on making a smooth transition from employment to retirement Plan for creating a new purpose and life goals Give consideration to financial aspects of living on a (possibly) reduced income
Course Duration	One day, with follow-on personal coaching recommended
Course Content:	Exploration of expectations/aspirations for retirement and their effect on quality of life, sense of fulfilment and happiness The benefits of being retired, and an awareness of potential pitfalls Defining a personal change of direction and creating a new focus Stock check – what are your skills, strengths and passions and how can you apply these for your own or others’ benefit? Identifying opportunities to ‘grow’ through ‘lifelong learning’ and continued personal development Making new contacts, developing new friendships – how important is this and where will you find like-minded people? Maintaining good health - nutritionally, physically and mentally Are your outgoings manageable or do they need to be reviewed? Do you want/need paid employment or does voluntary work appeal? Pension options – should you draw your company pension now or defer it and explore other options? Who is financially dependent on you now and how might this change in the future? Do you need to access the financial value of your home by either selling it and ‘downsizing’ or releasing the equity while continuing to live there? Inheritance tax planning – ensuring that your assets don’t go to HMRC Do your investments still give you a good return? Do you have a valid will (certain life changes may have invalidated it) and when was it last reviewed? Lasting Power of Attorney – what is it and when do you need it? What if you or your partner need to go into a residential care home – how will this be funded? Pulling it all together – creating a personal action plan, which will form the basis of ongoing individual coaching.

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