Would you consult a retirement coach?

[Georgiagranny]

@NorthernLight Wait! One of the newest catch phrases is "you don't know what you don't know" but it sure sounds like you do know what you don't know!

I have a lazy brain and most of the time don't care what I don't know. Maybe that's why I keep flunking retirement.

 

[Knight]

Hello all - Thinking of changing my career to be a retirement coach as I navigate the retirement life myself. The question I have is - would you or your friends consider consulting a retirement coach? Looking to help retirees in all aspects - financial, health and life coaching. Thanks all!

What would be your target age groups ? For financial how would what you want to do differ from a financial adviser? For health how would you advise over & above what health care professionals advise?

"Groups" because different ages have different needs to be addressed. Not likely a retiree would need a coach. And if people in their mid to late 50's haven't figured it out it's not likely they would need a coach because there is a ton of info online.

 

[msincogneato]

I live hand to mouth and couldn't possibly afford one. If I could, I think I'd appreciate one who is not only knowledgeable, but who knows how to ask the right questions. Because not all advice fits every individual.

In my life I didn't know about many of the things that "everyone" knew, such as careers, childbirth, and credit. I'm sure there's lots I don't know about this time in my life too.

Honestly check out the bank (Sagewell) I posted about, above they include one without charging big fees upfront ($20 per month) or taking a percentage of all your money. If $20/ month seems tough they offer discounts you get just by using your debit card and I just found out they do cashback on gas you buy with the debit card too. My last two months my fee was either recouped or I made a little money because of those discounts (Walmart where I probably buy 80% of everything I buy, that was a big one for me).

Hope this helps NorthernLight!

 

[NorthernLight]

Thank you, @msincogneato . I'm in Canada; no Sagewell here. I'm satisfied with my bank, and I'm good at pinching pennies.

Maybe I shouldn't have mentioned not knowing about credit. That was an example from my past. Things I don't know about as a senior are a different challenge. That's why I joined this forum!

 

[Georgiagranny]

I've already retired more times than I can count so I don't need a retirement coach. I need somebody to coach me on how to stay retired

 

[JustBonee]

Retirement coach?
I retired 18 years ago, and if I'm doing it wrong on my own, then so be it. ... I'm too old to learn any new tricks

 

[Skyking]

That's what I have a wife for. She tells me how to feel, what to think, what to do and how to do it. I fear and obey. It works well.

 

[Skyking]

I live hand to mouth and couldn't possibly afford one. If I could, I think I'd appreciate one who is not only knowledgeable, but who knows how to ask the right questions. Because not all advice fits every individual.

In my life I didn't know about many of the things that "everyone" knew, such as careers, childbirth, and credit. I'm sure there's lots I don't know about this time in my life too.

I love your humility. You sound so gentle.

 

[Happy Retiree]

I would never pay for a retirement coach or any coach. But then I'm on a very low CPP and OAS along with meager savings.

 

[Capt Lightning]

Retirement coach?
I retired 18 years ago, and if I'm doing it wrong on my own, then so be it. ... I'm too old to learn any new tricks

Nonsense, you're never too old to learn something new. Trouble is, you may be too old to do it.

 

[Beezer]

Retirement Coach?

"Now you're gonna get outta bed, and do whatever the hell you want all frickin day!!!" By the way, I take Visa and cash."

 

[Llynn]

No. There is enough information easily available for self education on the subject....if you are willing to put in enough effort.

With regard to retirement coaches, an expert is any ordinary person more than 50 miles from home.

 

[Ladybj]

That's what I have a wife for. She tells me how to feel, what to think, what to do and how to do it. I fear and obey. It works well.

It works well for you but may be draining for her My hubby has that same mentality. I don't mind having his back, however it gets to be a bit much sometimes. I learned to take a step back and let him lead. Works well for me.

 

[Skyking]

It works well for you but may be draining for her My hubby has that same mentality. I don't mind having his back, however it gets to be a bit much sometimes. I learned to take a step back and let him lead. Works well for me.

So you are saying I'm draining her by doing what she says. Sheesh! Damned if I do, and damned if I dont.

 

[Judycat]

It would be better not to bother with a retirement coach because I don't take advice very well. It would take a hundred years for me to do step one.

 

[Remy]

I know this was originally an older thread. I think I could have benefited from some guidance when I was younger. It may have helped. Just common sense advice.

 

[Liberty]

Think the biggest issue with most people and retirement is funding. It can be hard for someone to struggle through this without the proper funding. Having a good "retirement financial advisor" could be a big help. We are all different and living various lifestyles. One size does not fit all nor fill all the monetary needs. Also, studies have shown spending the first 5 years of retirement determine the remainder of retirement.

Struggling through this period of our lives due to a lack of bucks would be a bummer.

 

[kaydee]

Hello all - Thinking of changing my career to be a retirement coach as I navigate the retirement life myself. The question I have is - would you or your friends consider consulting a retirement coach? Looking to help retirees in all aspects - financial, health and life coaching. Thanks all!

A lot of retirement "coaches" want to manage your money for a fee. I have trouble turning over that much power to one individual.

 

[Ladybj]

So you are saying I'm draining her by doing what she says. Sheesh! Damned if I do, and damned if I dont.

She tells you how to feel, what to do, what to think? I'm drained just by reading it Just kiddin'. If you both are fine with it, that's all that matters.

 

[Cyclist]

I am 55, Hubby is 62. We would not consult a retirement coach due to being low income at retirement.

 

[CarolfromTX]

No. No need. I have a proven track record of making good decisions.

 

[InTheWoods]

I first read the title as "retirement couch" and I'm still getting distracted by the concept.

 

[DaveA]

I first read the title as "retirement couch" and I'm still getting distracted by the concept.

I consult my "retirement couch" on a regular basis. On a daily basis at some points in time.

 

[Lexi]

I just retired end of January this year. Didn’t feel like we needed a coach as we had been preparing for a good amount of time. What I did do was go to an insurance broker for help picking medical insurance for me bc I’m too young for Medicare. It was no cost to us and I feel better than just navigating the health marketplace. Cobra from my job was just too dang expensive!

 

[davey]

if you can't coach yourself by the time you've retired and better still with a partner alongside then you've been havin too much fun all the time and not learning anything!!