Callisto Wealth Management Ltd
Rainford Hall
Crank Road
St Helens
WA11 7RP

Retirement Planning

Most people know they will stop working one day, but they haven’t thought about what they’ll do instead. It’s a shock to the system for many people, and their brains can start to do some weird and wonderful things.

Researchers in Massachusetts have found that two big things happen to the brain when people retire.

  1. People reorganize their entire lives.

People organize their lives around the places they spend their time, the things they do and the relationships they have. Maybe they go on to work on Monday to Friday, do the food shopping on a Thursday evening and always have the family over for a roast on Sunday.

Most of these things change when people retire. This means they need to reorganize their lives. First, they have to decide when and how to stop working. Then they need to forget about work and focus on other things. Eventually, they’ll get into a new routine.

Maybe they’ll go to a pottery class at Tuesday lunchtime, do the food shop on a Wednesday morning and meet friends for brunch on Friday. To make this reorganization a bit easier, people could gradually reduce their working hours before they stop completely. This would give them a chance to slowly reorganize how they spend their time.

  1. People Redefine who they are.

Work can be a very important part of defining a person. Because of this, they can feel like they lose their identity when they retire. If a person has been a teacher for 30 years then retires, they can’t call themselves a teacher anymore. They need to redefine who they are. To avoid feeling lost, people could make sure they have other hobbies and activities outside of work that they can keep doing when they retire. Maybe they’re part of a book club, a green-fingered gardener or a really good cook. This doesn’t have to stop just because they’ve retired.

How companies can help people get ready to retire.

Companies should help employees reorganize their lives before they retire. They could do this by letting people gradually reduce their working hours before they stop completely. Companies could also help employees define who they are before they retire. They could encourage people to spend time on things outside of work that they can keep doing after they retire.

By doing this, companies are more likely to have productive employees who have a better work-life balance. They’ll also have time to prepare and spread out work before the employee retires, which should ensure a successful retirement.

Why not pop in for a coffee and a chat about your plans and your investments. We’ll review your portfolio with you and give you a second opinion. If we think it is well-suited to your long-term goals, we’ll happily tell you so. But if we think it isn’t working as well as it should, we’ll explain why. Give us an hour and we’ll show you how to get the best out of your life and your money.

Please feel free to get in touch - or phone 01744 881 421 We would love to hear from you
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