Experienced in transitioning into retirement and living in retirement for six years, author and blogger Fritz Gilbert shares his thoughts about how to avoid each of these traps.
The author states…
“My friends at Apex Money recently shared an article that made me think. The article was from the Harvard Business Review and highlighted 7 Hidden Traps of Retirement, which the writers discovered during interviews with “dozens of highly respected former chief executives.”
As I read the article, I realized the traps of retirement don’t apply only to folks retiring from top management positions.
These traps present a risk to all of us.”
He concludes the article with the following advice:
“The best way to avoid these traps is to begin planning for retirement as early as possible, and include the non-financial aspects in your thinking. It’s been proven that the more time you spend planning, the lower your risk of falling into one of the traps.”
Note from MLE: This planning includes and requires conversations and introspection. Take the time to have these conversations with those you trust and spend time looking inward about what is really important. Find help if needed. Spouses and partners should communicate about their expectations- these sometimes vary greatly!
Sage advice and advice that should be heeded- it comes from life experienced!
