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Retirement is often talked about as a single state.

Instead of planning for retirement as a single state, it should be viewed as a four-phased concept. Each phase having its unique tasks and issues that require them to be managed. The four retirements enable a clear vision to plan and to anticipate what is likely to come.

The Four Retirements

Phase One:

The Honeymoon Phase

Why do so many people struggle when they enter retirement? Retirement is supposed to be fun, not challenging. The beginning of retirement can be a bit of a gray area.

Phase Two:

The Big Decision Phase

Once the honeymoon stage of early retirement is over and you have really adjusted to being fully retired, you will begin to face some big decisions. These include choosing where you will live, how you will get around, and who you will spend your time with.

Phase Three:

Navigating Longevity Phase

In this phase, you will begin to experience greater longevity risks—meaning that your health, mobility, and cognitive abilities will not be what they once were. Simply put, your needs will be greater, but your resources may be smaller.

Phase Four:

The Solo Journey

Health or physical issues can abruptly come to the forefront. But the loss of a spouse may be an even greater life event—one that may ultimately open doors to new life experiences. Many enter this phase alone, but they don’t have to be lonely.

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