The Psychology of People Scared to Retire

The Psychology of People Scared to Retire Work with me: https://randy-smith.showrunner.one/r/e59af4094ab6 Why are so many people scared to retire, even when the numbers say they have enough? I explore the psychology of retiring and why reaching financial independence doesn't always make someone feel financially secure enough to stop working. One major factor is loss aversion, a concept closely associated with Daniel Kahneman and behavioral economics. After spending decades accumulating wealth, switching from saving money to spending it can feel uncomfortable. A scarcity mindset can make that transition even harder, creating a disconnect between financial reality and your retirement mindset. I also look at hedonic adaptation and moving goalpost retirement—the tendency to keep increasing the amount you believe you need before finally giving yourself permission to retire. Understanding the psychology of money can help explain why another year of work or another savings milestone may not eliminate the underlying anxiety. Retirement isn't purely a financial decision. identity loss retirement and the question who am I after retirement can become surprisingly important when your career has shaped your routine, relationships, purpose, and sense of self for decades. Questions around mortality and retirement can also surface as retirement makes the passage of time feel more tangible. Drawing on ideas around the soul of wealth, I discuss why having enough money and feeling like you have enough are two different things. Overcoming retirement fear may require more than another spreadsheet. Sometimes what people are really searching for is retirement permission. Understanding retirement psychology can help you separate legitimate financial risks from emotional barriers. With insights relevant to the work of a certified financial planner and registered life planner, I explore how retirement planning can address both your money and the life you want that money to support. Whether you're researching fairway financial, wondering how much to retire, or struggling with the emotional transition from earning and saving to actually enjoying what you've built, this video offers a different way to think about retirement. #retirement #retirementplanning #howtoretire ----- I’m Randy, a CERTIFIED FINANCIAL PLANNER™ and Owner/CEO of Fairway Financial. After years in banking, financial planning, and consulting with advisors across the country, I saw too many retirees struggle with rising costs, market uncertainty, and a lack of clear direction. That’s why I choose to do what I do. Through my Pathway to Purpose™ process, I help retirees, those nearing retirement and business owners, create a plan they understand and feel confident in. So they can retire to something meaningful, not just from work. ----- Disclaimer: Fairway Financial, LLC is an SEC-registered investment adviser. Content may include topics related to retirement, tax, estate, and financial planning but should not be considered investment, tax, or legal advice. This material is for informational and educational purposes only and is not personalized advice. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult your CPA, attorney, or financial advisor before making financial decisions.