The Two Types of People Who Fail at Retirement, Ep #99

There are two types of people that fail miserably at retirement. One person is the type that loved their job because it gave them a sense of purpose. The other type is the spender—they struggle to stick to a budget and want an extravagant retirement. What should these two people do to have a successful retirement? Learn more in this episode of the Retirement Made Easy Podcast.  <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[0:21] Check out RetirementMadeEasyPodcast.com for FREE Resources</li> <li>[4:37] A HUGE congratulations to George and Mary on their retirement!</li> <li>[6:15] Type #1: Those who struggle with a lack of purpose</li> <li>[9:36] Type #2: Those who spend more than they should</li> <li>[13:07] Your paycheck HAS to be replaced with other income</li> </ul> <h2>Type #1: Those who struggle with a lack of purpose</h2> <p>Do you get up and head to work and feel a sense of purpose every single day? Is your career meaningful? When this type of person retires and they no longer have that purpose, they don’t know what to do with their time. They might relax for about a week of retirement. Then they get <em>bored</em>. They miss their coworkers, interaction, and sense of purpose. </p> <p>How do you combat this? You can volunteer at organizations a few days a week. Or you can help babysit your grandkids. There are plenty of purposeful things you can do to fill your time that doesn’t include working full-time. But if you’re this type, <em>before</em> you retire, think about how you want to spend your time so you’re not left twiddling your thumbs. </p> <p>You can also download and fill out my “<a href= "https://retirementmadeeasypodcast.com/resources/#open-overlay" target="_blank" rel="noopener">Blueprint To a Dream Retirement</a>” to help you navigate how you’ll spend your retirement. </p> <h2>Type #2: Those who spend more than they should</h2> <p>I don’t see this often—but I see it enough. I’ve parted ways with two clients during my career because they were overspending and