People don’t know what they don’t know, so sometimes they do things they believe are necessary or helpful, which can cause issues or provide no actual value. This happens all the time when it comes to retirement planning and lifestyle. People frequently prepare for it in unconventional ways, such as going through the motions of what others have said or told them to do without pausing to question or seek advice before beginning. Sadly, most of what people have been told or conditioned to believe about retirement does not help make a meaningful transition. In reality, it’s so far off that it may aggravate the situation. That’s a serious matter, as starting a multi-million dollar adventure that could last 30-40 years the wrong way can be tough to recover from. There’s a new evaluation instrument to quantify personal retirement preparation. The program is based on the notion of retirement quotient (RQ), a framework for comprehending an individual and appreciating their reality, and obtaining insights from it to better prepare them for their retirement transition. The purpose is to provide insight and context for a client’s present thoughts, feelings, and behaviors as they move into their new retirement reality while addressing potential differences. That is accomplished by asking clients a series of questions about their transition knowledge (IQ), understanding and managing new and competing thoughts and emotions about it (EQ), developing a new sense of identity, purpose, and meaning (SQ), and cultivating a resilient mindset about aging, longevity, and legacy (AQ). That’s a nice way of saying it gets people thinking and talking about elements of retirement they haven’t given much consideration to and helps them build realistic expectations and plans for retirement rather than making hazy assumptions and feeling disappointed when they don’t come to fruition. While there are scientific components to it, it is essentially about assisting individuals in avoiding frequent traps and pitfalls and avoiding wasting the first few years trying to figure it out independently. In our opinion, one of the most significant components of retirement intelligence is the realization that there is no universal or single ideal approach to retirement. In other words, we know that an introvert defines a good retirement life differently from an extrovert. Women retire differently than males, and solo-agers have different plans and ambitions than those with adult children and grandchildren. Furthermore, some people enter retirement after being divorced, widowed, or working as caretakers. As a result, it’s critical to appreciate these distinctions and recognize that any meaningful breakthrough or aha moment for clients in the non-financial planning process will not come from a series of questions or a score. Instead, it comes from talks and debates about them and how their personalities, interests, and habits will translate into retirement. I can’t emphasize the importance of dialogue and discussion enough. Since the program’s beta testing began, the questionnaire had to be printed and physically completed by circling their responses and sending them back. Every questionnaire that came back had handwritten notes regarding the answers.
Contact Information:
Email: [email protected]
Phone: 4022508277
Bio:
Carl Wyllie is an advisor focused in areas of Medicare, retirement, estate planning, and crisis planning. Carl works with individuals of all ages in planning for their retirement. He is uniquely effective in building working relationships between their families and elder care law attorneys to assist them in avoiding a healthcare crisis. Carl is particularly sensitive to helping provide the means for his clients to maintain their independence and dignity when a change in their health occurs due to the natural aging process.
