Another important thing for advisors to be sensitive about are retirement labels like “couch potato” or “putz.” On the surface, they feel harmless, but imply something negative which isn’t good for someone’s self-esteem in retirement. By refocusing the label into an action or behavior (relaxing after decades of work), clients can begin to separate themselves from the label and focus on changing the behavior.
Finally, I want to emphasize the importance to tearing down the picture-perfect walls of retirement. Clients need to know that retirement isn’t this magical time where everything goes as planned or without a hitch. Making clients aware of the ways that retirement can ebb and flow better prepares them to deal with the rough or turbulent times, including times when they may feel stranded at sea.
It’s been famously said that people don’t drown by falling in the water, they drown by staying there. Financial advisors today have to be able to not only recognize when a client is struggling with their transition but also be able to throw a client a lifeline.
Robert Laura is the president of SYNERGOS Financial Group, the founder of RetirementProject.org and the creator of the Retirement Wellness Marketing Program for Advisors. He can be reached at [email protected].