What are the five emotional stages of retirement?

Follow these helpful tips on the five emotional stages of retirement so you can prepare for this exciting new chapter of your life.

• Realization and Anticipation. ...
• Honeymoon Stage. ...
• Reality. ...
• Readjustments. ...
• New Chapter.

What are the five phases of retirement?

5 Common Stages of Retirement and What to Expect

• The Pre-Retirement Phase. The pre-retirement phase takes place over several years before you actually retire from your career. ...
• The Retirement Honeymoon Phase. ...
• The Disenchantment Phase. ...
• The Reorientation Phase. ...
• The Stability Phase.

What is the number one mistake retirees make?

The top ten financial mistakes most people make after retirement are:

• 1) Not Changing Lifestyle After Retirement. ...
• 2) Failing to Move to More Conservative Investments. ...
• 3) Applying for Social Security Too Early. ...
• 4) Spending Too Much Money Too Soon. ...
• 5) Failure To Be Aware Of Frauds and Scams. ...
• 6) Cashing Out Pension Too Soon.

What is the $1,000 a month rule for retirement?

The $1,000 per month rule is designed to help you estimate the amount of savings required to generate a steady monthly income during retirement. According to this rule, for every $240,000 you save, you can withdraw $1,000 per month if you stick to a 5% annual withdrawal rate.

What happens emotionally when you retire?

You may grieve the loss of your old life, feel stressed about how you're going to fill your days, or worried about the toll that being at home all day is taking on your relationship with your spouse or partner. Some new retirees even experience mental health issues such as clinical depression or anxiety.

The Five Emotional Stages of Early Retirement

What is the hardest part of retiring?

Retirees grapple with longevity, market fluctuations, inflation, taxes, and legacy desires, all affecting retirement savings adequacy. Manage retirement income with the 4% rule, variable annuities for assured income, and long-term care insurance for potential healthcare costs.

What happens to the brain when you retire?

For the millions of Americans who retire each year, stopping work might seem like a well-deserved break. But it can also precipitate big changes in brain health, including an increased risk of cognitive decline and depression. Doing something creative and novel can give you a sense of purpose and keep your brain agile.

What is a good monthly income for a retired person?

Average individual retirement income: $60,000/year or $5,000/month. Median individual retirement income: $47,000/year or $3,900/month. Average retirement income for couples: $100,000/year or $8,300/month. Average monthly Social Security benefit: $1,976/month (as of January 2025) [2]

What is the biggest retirement regret?

Retirement Regrets: Top 15 Things Retirees Wish They Had Done Differently

• Plan More Carefully for the Fun You Want to Have in Retirement. ...
• Not Saving Enough. ...
• Not Retiring Earlier. ...
• Not Planning Adequately for Healthcare. ...
• Staying Uninformed About Personal Finance. ...
• Invest Too Conservatively — or Too Aggressively.

What does Suze Orman say about retirement?

Orman recommended making the most of retirement accounts like 401(k)s and IRAs. She suggested contributing enough to get any employer match, as this is essentially free money. For those closer to retirement, taking advantage of catch-up contributions allowed for individuals over 50 can be a smart move.

What are the 3 R's of retirement?

The Three R's of Retirement: Resiliency, Resourcefulness & the Renaissance Spirit.

What not to do when you retire?

Here are 10 of the most common.

1. Not accounting for longevity. ...
2. Not planning for the possibility of early retirement. ...
3. Not considering how you'll really spend your time. ...
4. Not communicating with your spouse. ...
5. Not readjusting your social life. ...
6. Not having a housing plan. ...
7. Not strategizing for healthy aging.

What is a retirement moon?

One of the latest “moons” is a “retirementmoon” – a big trip taken shortly after retirement, to celebrate the fact that someone doesn't have to work anymore. So where should someone go after they've been liberated from the demands of vacation days, deadlines and work emails?

What are the 4 pillars of retirement?

We call them the four pillars: health, family, purpose and finances.

What are the biggest expenses in retirement?

Major Monthly Expenses in Retirement

1. Housing. Housing remains one of the largest expenses for retirees. ...
2. Healthcare. Right behind housing is healthcare, which only becomes more important as we age. ...
3. Transportation. ...
4. Food and Entertainment.

Should you pay off your mortgage before retiring?

“If your mortgage rate is around 3 percent, it might not make sense to pay it off early.” But, he adds, “if you have a newer mortgage with a rate closer to 6 or 7 percent, putting extra money toward your mortgage can be a smart move, since it's harder to find low-risk investments that pay that much.”

What are the biggest retirement mistakes?

Take a look to see if any sound familiar.

• Relocating on a whim. ...
• Falling for too-good-to-be-true offers. ...
• Planning to work indefinitely. ...
• Putting off saving for retirement. ...
• Claiming Social Security too early. ...
• Borrowing from your 401(k) ...
• Decluttering to the extreme. ...
• Putting your kids first.

How many people have $1 million in 401k?

Empower Personal DashboardTM data shows 9.1% of people fall into the category of 401(k) millionaire as of September 30, 2025, having accumulated at least $1 million in retirement savings in employer-sponsored plans and individually controlled IRA savings and investment accounts.

What are common 401k mistakes?

Saving too little in your 401(k) 3. Not knowing the difference between 401(k) account types. 4. Not rebalancing your 401(k)

What causes 70% of dementia?

Dementia is caused by many different diseases or injuries that directly and indirectly damage the brain. Alzheimer disease is the most common form and may contribute to 60–70% of cases.

What is the happiest retirement age?

According to the 2024 MassMutual Retirement Happiness Study (PDF), Americans overwhelmingly view 63 as the ideal retirement age, even though the average American actually retires at 62.

What are the three superfoods for your brain?

8 Superfoods for Brain Health

• Salmon and Other Fatty Fish. About 60% of your brain is made of fat, and omega-3 fatty acids make up part of that fat. ...
• Eggs. ...
• Blueberries. ...
• Leafy Greens and Cruciferous Vegetables. ...
• Nuts. ...
• Coffee. ...
• Dark Chocolate. ...
• Olive Oil.