Keren Smedley 17th October 2016
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So many of the people I have spoken to find themselves at 50-plus not in the financial position they had expected to be in. Many believed that, by the time they were in their 50s and certainly 60s, they would have paid for their homes and be picking up a pension based on their final salary, but are finding that things have changed.
Many women born in the early 1950s expected to retire when they were 60 and now find that they must work till they are 67, men too expected to retire at 65 and can’t anymore, and this has left them feeling angry and disappointed. These emotions will not help us grow and develop if they are allowed to fester.
As a result of divorce and maintenance payments, many people are still paying for mortgages or renting property for themselves and ex-spouses that they did not expect to be doing at this stage of their lives. Alongside this, pension funds are depleted because of the fall in the stock market while people’s welfare is very dependent on the global economy and the housing market. Little wonder so many individuals feel trapped, unable to see a way they’ll ever be able to stop working.
Others, by contrast, have no financial concerns but aren’t the slightest bit ready to give up work. Some like what they do and they want to continue the same path; others are ready for a fresh challenge and want to develop a new career or business. Retirement for them is a long way off.
Thinking about our finances is often hard as it raises so many emotions. If you’re stuck, a coach-therapist is an ideal person for you to talk to as they can explore both the practical and emotional issues with you.
If this blog has raised some issues for you, you may want to talk to one of our life coaches. Please contact us: [email protected]
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