Bec Wilson answers: Do I need all the answers before I start?
You don’t have to solve everything at once - just keep taking the next step. Retirement expert and best-selling author Bec Wilson recaps the six fears covered in the previous weeks and where to next.
5 mins
Over the last six weeks, we’ve talked about some of the biggest fears people have as they approach and enter retirement.
- Will I have enough?
- Will I have to keep working?
- What if I make the wrong decision?
- I’m anxious about spending my savings
- I’m worried I’ll lose myself in retirement
- I feel like everyone else has retirement sorted
They’re all different fears. But they have a common thread: uncertainty.
Retirement planning is packed with it. And when you don’t know what you need, what you can afford, what your options are, or even what you want your retirement to look like, it’s very easy for that uncertainty to turn into fear.
And fear has a nasty habit of making us freeze and do nothing.
So, if you take one thing away from this series, I hope it’s this: you don’t need to figure your retirement out in one go, and you don’t need to know all the answers before you start planning.
You just need to start. Start thinking about it, talking about it and learning about it.
If you’ve taken the steps over the last six weeks, then you’re already off to a great start.
1. You’ve defined what enough means to you
And explored the different sources of income you might be able to access when you eventually retire.
2. You’ve explored the different paths out of full-time work
You know retirement doesn't have to be a cliff. Hopefully, you’ve discovered you have more choices than you initially thought, and you’re starting to consider which path might be right for you and when.
3. You’ve broken the big retirement decisions down into smaller, more manageable steps
Some decisions need to be made early, but others really can wait until you know more about your journey.
4. You’ve started changing the way you think about spending
You’re starting to think about turning your super into an income at retirement. After years of saving, getting comfortable using that money to support you in retirement is an important shift.
5. You’ve thought beyond your finances to what your days in retirement might look like
Because retirement isn't one long bucket list holiday. In fact, there are many more ordinary Tuesdays than there are holidays, and you need people, interests and purposeful activities to fill them.
6. And finally, hopefully, you’ve stopped worrying quite so much about everyone else's retirement plans and started focusing on your own
Your job is to build the retirement that works for you, makes you smile and uses the money you’ve worked hard to save to fund it.
So, what now?......Keep going!
Have a look back over the six fears and ask yourself which one makes you feel most uncomfortable. That’s probably a helpful clue about where to put your effort next.
If it’s the money, take the time to understand your numbers. If it’s work, start exploring your options. And if you’re worried about making the wrong decisions, make sure you know which decisions really need to come next.
You don’t have to solve everything at once. Just keep taking the next step.
And remember: retirement confidence doesn't come from waking up one morning with a perfect plan. It comes from understanding your choices, making carefully considered decisions and gradually building a retirement you’re excited about.
Make it epic! And I’ll be here with you every step of the way.
Build your retirement confidence
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Important information
What you need to know
AMP Super has a paid partnership with the Epic Retirement Institute to develop and share educational content about retirement. Through this partnership, the Epic Retirement Institute and Bec Wilson provide educational insights on pre-retirement, lifestyle and retirement issues to AMP audiences.
AMP Super refers to SignatureSuper® which is issued by N. M. Superannuation Proprietary Limited ABN 31 008 428 322 AFSL 234654 (NM Super) as the trustee of the AMP Super Fund (the Fund) ABN 78 421 957 449.
® SignatureSuper is a registered trademark of AMP Limited ABN 49 079 354 519.Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant PDS and TMD from AMP at amp.com.au or by calling 131 267.
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Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd (AWM Services) ABN 15 139 353 496 AFSL 366121, which is part of the AMP group (AMP). All information on this website is subject to change without notice.
The retirement coach session is a retirement conversation and is provided by AWM Services. It is general advice conversation only. It does not consider your personal circumstances.