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Adjusting to Retirement: Your Mind’s Impact on Your Future

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Retirement, as it’s broadly defined, is a goal. Most people have become comfortable with the idea that they need to save and plan for their retirement. But retirement is so much more than a financial portfolio…it’s one of the biggest transitions in your life. Here are a few ways to understand and nurture your emotional portfolio as you consider retirement. 

Paul Bechly, CFA, CFP
First Vice President
Morgan Stanley Wealth Management

Making Emotional WellBeing A Priority
There are many ways that you can make emotional wellbeing a priority in retirement. Let’s talk through a few options and map out ways you can tangibly bring that to your everyday life. 

Structure your days.
Create a new routine that provides anchor points to your day.

Set small goals.
Map out the things you want to accomplish over the next 6-12 months. Set achievable goals that you’re excited about, while also stretching you outside of your comfort zone.

Own your emotions.
Find healthy coping mechanisms, and don’t forget to be patient with yourself. The key to your retirement success lies in your emotional wellbeing. So, go for a walk. Talk to your partner or a trusted friend. Seek counseling. Journal. Meditate. There are lots of ways that you can own your emotions…the key is to simply start.

Find an encore job, hobby or volunteerism opportunity.
Fun jobs, hobbies and volunteerism keep you active and engaged. They also help you use and grow skills that enhance your life, as well as the lives of people in your community.

Focus on relationships and your support network.
Your relationships and social support network are key to your emotional and physical well-being in retirement. Have courageous conversations where you share your unique interests and concerns about this new life stage. Whether it’s a spouse, friend, sibling, child or professional counselor, find someone to have these big conversations with.

Refresh your marriage goals.
Set new goals – a new vision – for your relationship in retirement. Retirement is the perfect time to talk about those dreams you’ve kept on the back burner. Sharing meaningful activities that you both enjoy reduces tension and increases your pleasure in spending time together. Think about any new activities you wish to try on your own or with others. Be sure to allow time for each partner to pursue personal interests.

Communicate these goals with your family and financial professional.
You know what they say…teamwork makes the dream work. Share your goals with the people you trust and care for. Ask them for their support as you bring these goals to life. Be sure to also sit down and share these goals with your financial professional, so that they can make sure your financial portfolio and plan help you best bring that vision to life. 

Article by Morgan Stanley and provided courtesy of Morgan Stanley Financial Advisor. 

Paul Bechly is a Financial Advisor / Family Wealth Advisor in Greenville, Delaware at Morgan Stanley Smith Barney LLC (“Morgan Stanley”). He can be reached by email at paul.bechly@morganstanley.com or by telephone at 302-573-4001. His website is https://fa.morganstanley.com/paul.bechly/

This article has been prepared for informational purposes only. The information and data in the article has been obtained from sources outside of Morgan Stanley. Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of the information or data from sources outside of Morgan Stanley. It does not provide individually tailored investment advice and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed in this article may not be appropriate for all investors. Morgan Stanley recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

The author(s) and/or publication are neither employees of nor affiliated with Morgan Stanley Smith Barney LLC (“Morgan Stanley”). By providing this third party publication, we are not implying an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Morgan Stanley of any information contained in the publication.

The opinions expressed by the authors are solely their own and do not necessarily reflect those of Morgan Stanley. Neither the information provided nor any opinion expressed constitutes a solicitation by Morgan Stanley with respect to the purchase or sale of any security, investment, strategy or product that may be mentioned.

Paul Bechly may only transact business, follow-up with individualized responses, or render personalized investment advice for compensation, in states where he is registered or excluded or exempted from registration, https://fa.morganstanley.com/paul.bechly/

©2022 Morgan Stanley Smith Barney LLC. Member SIPC. CRC 4950131 09/2022

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Paul Bechly

Paul L. Bechly, CFA®, CFP®, First Vice President Financial Advisor Family Wealth Advisor Morgan Stanley Wealth Management 4001 Kennett Pike, Two Greenville Crossing, Suite 216 | Greenville, DE 19807 Direct: +1 302-573-4001 Toll Free: +1 800-788-4090 Paul.Bechly@morganstanley.com Learn more about my specialty as a Family Wealth Advisor The highest compliment we can receive is a referral or introduction to your friends, family or business associates. NMLS #1373065

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