Convincing Your Loved One to Retire

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Guiding Your Loved One to Begin and Enjoy the Last Phase of Their Life

Convincing Your Loved One to Retire

 

For so many years, we have seen them work hard. In those years, they have been devoted to their jobs. They earned to live and worked to provide not just for themselves but also for the people they care about. Now that we are older and can take care of ourselves, it’s time for them to think of their own happiness and let them do what they want to do.

 

The problem is, how can you convince them to retire? This is a very crucial question considering you are dealing with a person who has worked all his/her life. This can be more difficult to comprehend especially at this time that President Trump’s administration has made a significant change in terms of altering the investment and security policies following the current president’s questioning the Fiduciary Rule (a rule established by previous administration to give protection to clients against bad investment advice). With President Trump’s planned abolishment of the rule, Americans are put into a situation wherein lots of things can happen that will certainly affect the way they decide to save their money for retirement.

 

Nevertheless, this will never be an issue if you know how important it is for your loved one to plan for retirement. We are all going to retire sooner or later. The later you prepare them and yourself for their retirement, the harder it is for both of you to adjust.

 

So as to smoothly guide your loved one in their transition from employment to retirement, you need to be ready to do these things.

 

Ask yourself with regards to the things that is crucial to their retirement. Do you know what to expect once they retire? Do they have enough money to provide for their needs in the next thirty years? If they don’t, then do you have the capacity to support them in their later years? Are you financially and emotionally secured to be left on your own?

 

Find out their retirement plans. Have them sit with you about it, and remember to always listen to what they are going to say. Watch out for their reactions and opinions. Observe whether they are extremely anxious about it or if they don’t care or if they lack information about retirement plans. Remember to be conscious of your action toward them. Show utmost interest, and most importantly, respect their views.

 

Find out their motivations. What drives them to work? What are the things that matter to them? Do they invest more in their retirement, or do they give more of their earnings to provide for their family? Once you know these things, make a mental note about them and see if you can work on the things that prevent them from retiring.

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Let them immerse in recreational activities. Invite them to outings during weekends, and see to it that they find enjoyment in these things. Schedule a vacation in other countries. Let them experience life out of work.

 

Plan to have a meeting with them and discuss your point. Give them enough information about the benefits of retirement. Make them fully aware of what retirement can do for them. Ensure them that they don’t have to worry about you and they should start to think of their own happiness. Say that it is not a selfish thing to do because they have already done their part and it’s a good way to do the things that they have always wanted to do. Make sure you make them feel that they still have a relevant role in your life and the lives of others. Be sincere in all your intentions.

 

Retirement is a beautiful phase in your life where you fully experience the fruit of your labor. It is all about investing more in yourself and your relationship with other people. The sooner you make your beloved realize how beautiful this gift is, the sooner they can experience huge benefits that only retirement can offer.

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Reference

Ben Protess and Julie Hirschfeld Davis. 2017. “Trump Moves to Roll Back Obama Financial Regulations” New York Times, February 3. Accessed February 22, 2017.https://www.nytimes.com/2017/02/03/your-money/estate-planning/fiduciary-rule-is-now-in-question-whats-next-for-investors.html.

 

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by Rosalie H. Contino, PhD