Five Common Retirement Fears and How to Overcome Them

Are you ready for retirement but uncertain about what comes next? You’re not alone. Proactive planning can help ensure your path to a happy retirement.

A man looking fearful looks over the top of a cubicle wall in an office.
(Image credit: Getty Images)

If we’re to believe everything we see in magazine and TV ads, retirement is a time of leisurely bike rides with your spouse, lunching with friends and exploring hobbies like painting or ceramics, all done in joyful contemplation. But the realists among us might rightly have their doubts — suspecting that behind these idyllic images, there could be boredom, financial worry or even depression.

My experience with clients nearing retirement confirms such suspicions. While many are eager to leave the 9-to-5 behind, they’re uncertain about what comes next. For better or worse, work gives shape to our lives, prompting us to wake up each morning, make ourselves presentable and get along with people. It’s also a source of income and, for many, a means of accessing health insurance. Once that structure vanishes, the responsibility falls on you to re-create it for yourself.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Erin Wood, CFP®, CRPC®, FBSⓇ
Senior Vice President, Financial Planning, Carson Group

Erin Wood is the Senior Vice President of Financial Planning at Carson Group, where she develops strategies to help families achieve their financial goals. She holds Certified Financial Planner, Chartered Retirement Planning Counselor and Certified Financial Behavior Specialist designations.