Michael Kitces’ recent column in OnWallStreet beautifully illustrates one of the fundamental principles on which Fit-To-Retire was built:
Spending behavior differs dramatically in the first, second and third decades after retirement, otherwise known at Fit-To-Retire as the Go-Go, Slo-Go and No-Go seasons.
Seems logical, right? Yet, conventional retirement planning tends to take a one-size-fits-all approach, not taking into account a client’s individual level of emotional readiness and practical preparedness for each stage of their new life.
A typical retirement newbie comes out of the gate cautiously – laying low and watching their spending until they’re convinced that all of their planning is, indeed, going to pay off. Then, the Go-Go spending may begin – a trip to Europe, a new car, a vacation home in the mountains, perhaps.
By the time that person reaches 70 or 75, life inevitably slows down, along with the spending. Slo-Go vacations are less ambitious and costly, transportation needs change, and that mountain cabin gets passed down to family members who still ski without worrying about hip fractures.
Later, in what we ambivalently call the No-Go stage, health care expenses may go up while other expenses (housing, automobile, travel) go down, triggering regrets – in some folks – about not making the most of retirement when they still could get up and go. (Don’t be like them!)
The point is, while “age-banding” patterns are predictable, every client has their own needs, desires and circumstances. Fit-To-Retire is the only retirement transition program that addresses a client’s financial life as it pertains to their self-identity, social life, health and nutrition and personal relationships…in other words, all their goals and dreams.
Your Fit-To-Retire coach will have you covered from the day you collect that final paycheck with a flexible, comprehensive plan that will guide you through all three seasons of retirement, checking all the boxes for a fulfilling, rewarding retirement.
Get started today. Take the complimentary Fit-To-Retire Readiness Assessment and find out how prepared and enthusiastic you are to enter your Go-Go season running!