As retirement approaches, individuals often experience a mix of excitement and anxiety, while some look forward to the freedom retirement brings, others worry about financial stability and life beyond their careers.
Experts emphasize that early planning and open discussions are key to ensuring a smooth transition into this new phase of life.
In an exclusive interview with ATLFM NEWS, Dr. Lydia Aframea Dankyi, a renowned retirement expert, described retirement as more than just the end of a career noting “It’s a major life transition that requires reflection, planning, and preparation for the future.
Dr. Dankyi explained that people experience retirement differently, with some embracing the change joyfully while others struggle with uncertainty, largely depending on their level of preparedness.
She advised individuals to start discussing retirement goals early to make informed financial decisions and ensure a sustainable income, with key aspects of retirement planning, which includes creating a realistic financial strategy, addressing healthcare and long-term care needs, and maintaining a strong support system.
Dr. Gloria Owusu-Ambrose, another retirement expert, highlighted common fears associated with retirement, including financial insecurity, loss of professional identity, and potential health decline stating “Many dread retirement due to the fear of a reduced income, especially those who have held high-ranking positions.”
To counter these fears, both experts encouraged retirees to stay active and engaged suggesting that “Pursuing hobbies, volunteering, or engaging in physical activities can help maintain both mental and physical health.
Dr. Owusu-Ambrose added that starting savings and investment plans early can significantly ease the transition.
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Source: Elizabeth Adubea/ATLFMNEWS
