The Psychology of Retirement: 5 Facts You Need to Know

Retirement isn’t just a financial decision. The transition can come with unexpected emotional challenges that many are not prepared for. Today we’re going to dive into the psychology of retirement by outlining five key psychological shifts retirees face and discuss how to prepare for them.

Fact 1: The average person in the U.S. has been conditioned to “save” for 40+ years and has no practice in withdrawing money intentionally.
Fact 2: Retirees who pursue a purposeful activity (volunteering, caregiving, hobbies) report higher levels of life satisfaction.
Fact 3: Retirees are 40% more likely to experience clinical depression than those still working.
Fact 4: A married couple age 65-year-old today has a 50% chance of one spouse living into their 90s
Fact 5: A 2024 survey by IRAlogix found that nearly half (49%) of retirees lack a formal withdrawal strategy, opting instead to withdraw funds as needs arise.
Bonus: Over $70 trillion is projected to be passed on in inheritances by 2045. But… Only 18% of retirees say leaving a large inheritance is a top priority.

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Read the blog post: https://www.rwpaul.com/blog/the-psychology-of-retirement-why-emotional-planning-matters-just-as-much-a

0:00 – Intro
1:01 – Lack of retirement withdrawal planning
4:19 – Look at retirement in stages
6:23 – Be flexible with your activities
7:38 – Clinical depression in retirement
11:13 – The reality of longevity
13:56 – Formal planning

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