The second pillar for achieving a desired future is being committed to achieving that future. It’s an action plan, a road map.
Retirement doesn’t mean an end to purposeful living, he stressed, or to the end of dreams and goals. You might reap the harvest of your working career, but you should be thinking about the next season in life when you might have to replant and reharvest.
The final pillar is the why.
People say that in retirement they want a comfortable living, with no commuting, few demands, and the freedom to do what they want, he said. But they should also think about what the meaning of their future life will be. Why do they want to achieve these things?
This, he said, gets at the heart of the long-term plan. “The only way people make and stick with any decision is if they have an emotional attachment to it,” he said. “There has to be an emotional connection.”
Closing The Gap Between Now And Then
How do you close the gap between where you are and where you want to be? Weigel dubbed this the “transformation gap.” Without a system for taking action, he noted, you’re never going to get out of the gap and reach your goals.
It’s easy to get stuck in the “messy middle,” he said, and it’s important to realize that change takes time—especially change that has meaning and lasts.
The biggest roadblock to getting out of that rut is a mix of self-doubt and skepticism. For instance, he frequently hears clients insist they are too old to change.
Being A Coach
“This is where coaches can really help,” he said.
A good retirement coach can help with every step of the process. Coaches can clarify clients’ grand vision for the future, remove emotional barriers that are blocking their willingness to change, and fashion an action plan they will stick to.
“But retirement coaching is not a one-and-done thing,” Weigel emphasized, drawing an analogy to fitness coaches. “You don’t hire a fitness coach for one session,” he said, at least not if you want success.
Discipline And Accountability
Weigel wrapped up by saying he’s big on discipline. “The more intentional you are about things, the more you will achieve and the less time you’re going to waste,” he said, adding, “but you have to say that in a nice way to clients.”
He’s also a “huge believer in accountability,” he said, and advisors and coaches should check in with their clients regularly to make sure they’re sticking to their plan.
Retirement coaching, he concluded, “requires constant reminding that you’re working toward a goal.”