How to Overcome Retirement Decision Overload
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
15 min
2 speakers
2 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
How is retirement actually a series of small decisions rather than one big choice?
Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement.
I'm your host, Dailene Higgins, money coach and retirement strategist, to help you gain clarity and confidence with your money by creating a spending plan that aligns with your financial goals and dreams so you can spend intentionally, save consistently, and feel at peace about your future.
Join me every week to understand your money, simplify your decisions, and take intentional steps toward the life you want.
Retirement isn't one big decision. You may be thinking retirement happens because you save enough money. But in reality, retirement is a result of hundreds of small decisions over 10 to 20 years. But this also means that one bad decision will not throw you off course either. That's why I created the Vision to Action Sprint. We're not going to try to solve retirement in five days. We're creating a vision and identifying the next steps that move you closer to retirement. So head over to elevatefinances.us backslash webinar to learn more and get registered. So the challenge for you is, isn't that you don't know that retirement is important. You know it's important. And inside, you're like, yeah, I need to do this.
But the challenge is knowing which decision matters most today. And the problem of not knowing what decision to make comes because we think we need all of the answers before we connect. We want to see that this is going to be this and this. We're almost looking for assurance. And you can't necessarily do that, although seeing a path is very helpful. And I've talked about this before, and that is what we do inside my coaching. But as you are thinking about what do I need to do You're thinking, am I saving enough? But you honestly aren't sure how much you actually need. And every financial decision to you feels like it could be the wrong one. So you hesitate. You don't take action because you don't know the quote right answer.
So you just sit in consuming mode, consume and not actually taking action. When everything feels important, nothing is going to be clear or it's going to not feel urgent either. So you may be constantly wondering if retirement is going to work out. You're almost like, I'm just going to give up or it's just going to be what it's going to be. I don't want you to do that. Other things you're doing is you may be feeling guilty whenever you spend money, because as you spend it, and when I'm talking about spend, this is going with family or going on a trip or buying something for the house. And you think, is this going to detract from retirement? You're in a space when others are talking about retirement and you immediately feel behind or you're like, yeah, they know more just with the words, the concepts that they're sharing.
And as you think back, you're like, I've tried to consistently increase my savings. I thought that would help me feel more confident, make me feel like I was on the right path. And when you look at your retirement accounts, that doesn't help either because you're like, I'm not sure what this means. P.S. They don't mean anything in that context. So all of these actions or thoughts are not creating a clear enough picture. In your mind, you're thinking, I just need to try harder. I just need to be more disciplined. That's not the answer. Honestly, what you need to help you to move forward is you need more clarity. I know, talked about it before. This is a hard space to be in. You want to do with the practical and the hard stuff, the tangible, and you're just like,
Ah, okay. So that feeling that you just need to try harder and take different actions maybe, you still feel lost or behind. It doesn't do anything to settle you. And the reason this is because you've skipped the first step. Most people ask, how much do I need to save? And the right question that you should be asking is, what kind of retirement do I want? There's an order to quote retirement planning. Retirement planning is not hard, but there is an order that is going to help you understand how to get there more easily.
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Chapters
2 chaptersSpeakers
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