I read an article in the N.Y. Times, A Boot Camp to Prepare for Retirement; http://www.nytimes.com/2009/07/25/your-money/25money.html?_r=1&emc=eta1">and I was impressed by what two financial planners had developed. They created a simulation for their clients and allowed them to experience how they were feeling about a new phase of life. In many ways, I would imagine participants have a new understanding of what’s so intimidating and often depressing about the “R” word as many of my clients refer to retirement.
About 8 years ago, I was thinking along the same lines and had proposed a similar program to the local university. I was just moving to Sarasota and thought it would be a great venue for participants and a way for Sarasota to show off what a wonderful city this is for retirement by inviting pre-retirees for several weekends during the year to go through a weekend workshop.
Timing was not in my favor so the program was not accepted by the university but it’s been in the back of my mind ever since as a highly worthwhile endeavor; abbreviated versions have worked well so a longer process would be even more beneficial.
When I read about Tillotson and Kennefick, I was absolutely delighted; someone had actually developed such a program. Brava.
We don’t have many opportunities to reinvent ourselves and I have seen too many people misjudge, miscalculate and misrepresent their retirement plans. Being able to live out the “what-if’s” is a wonderful opportunity to get it right saving valuable time and resources.