The traditional retirement approach of “Work hard, save as much as you can, then retire,” can be emotionally or financially jarring for today’s pre-retirees.
Practice Retirement is a new approach that allows advisors to have a more positive conversation with their clients on preparing for retirement. This approach shows how your clients can balance the benefits of working while starting their retirement lifestyles. These tools can help you have effective Practice Retirement conversations with your clients.
The Objective of Practice Retirement
With Practice Retirement, advisors can:
- Provide clients with an interesting alternative approach to the traditional advice on retirement.
- Offer clients the option of seeing their 60s as an exciting period in their lives, where they wind down their career and build up their retirement lifestyle.
- Show how this transition period gives clients time to define their ideal retirement while letting their savings grow and increase their Social Security payout.