Yes, there’s really such a thing as coaches for your retirement – and there are even multiple certifications for professional coaches.  What do these retirement coaches offer?

Retirement coaches help you navigate the transition from work to retirement by addressing both practical and emotional aspects. They assist their clients in clarifying goals, finding purpose, and planning for a balanced lifestyle that includes hobbies, wellness, and social connections. Beyond the monetary aspects, they provide emotional support for adjusting to identity shifts and changes in structure, collaborating with your financial advisors to align lifestyle and financial goals.

Retirement coaches also guide decision-making, foster personal growth, and offer ongoing support to help clients adapt and thrive during this new phase of life.

In short, they help you ‘win’ at retirement.

That statement comes from Robert Laura, the founder and president of the Retirement Coaches Association (RCA), who was quoted in the AARP Magazine saying, “We help you win at retirement…and winning means effectively replacing your career identity.  Filling your time, staying relevant and connected, staying mentally and physically active and living according to your core beliefs.”

A “coach” for you might simply be a friend who’s going through the same process, or a retirement ‘mentor’ who’s a few years ahead of you on the journey.  But it also could be a certified professional who can objectively (and confidentially) assess your situation and desires and provide guidance to help you better manage the transition.

How do you find one?

You might find a coach the same way you find a financial planner or accountant; by asking questions and through referrals from friends or colleagues…or your own research.  You can also find coaches who are certified professionals though programs like the Certified Professional Retirement Coach (CPRC) or the Retirement Life Coach Certification (RLCC).

What’s the cost?

Rates vary and depend on several factors – just like your golf lessons!  Is this one-on-one coaching or would you prefer to be part of a small cohort of people where you can share questions and experiences?  Are you in a smaller midwestern city or a large metro area on one of the coasts?  What training and/or experience does your coach have?  Are you looking at hourly sessions or a flat retainer fee for a period of time?  Will the sessions be in-person or virtual? All of these variables affect the amount you should expect to pay.

Finally, if you’re wondering whether the expense is worth it, keep the following in mind: a coach can offer you objective and tailored advice based on your unique circumstances and goals. They’ve “seen it all” and can offer you a perspective that reminds you that you are not alone on this journey. They can show you some “tough love” like any coach and challenge you to be your best at this new chapter.

And you can work with them on an approach and a budget that fits your needs.

Mostly, a coach can help you from getting ‘stuck’ and not benefitting from your early retirement like you should. That alone can be worth any fees so that you minimize any regrets on your approach to retirement.