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Retirement "coaching"
Old 08-09-2014, 07:27 PM   #1
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Retirement "coaching"

sigh. I learn from the New York Times that one can spend $30K-$50K on a package of coaching to learn how to retire... glad all I did was lurk on this forum! Obviously there's some good in this -- think about your identity outside of work, find goals for what you want to do afterwards, plan, have a web of volunteer and hobby activities etc. Nothing wrong with that. And it is all good and sensible. But $50K to be coached in it in a package program? Up to $250 an hour?

I'm starting to think about a new post-retirement career....

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Old 08-09-2014, 08:55 PM   #2
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I just signed up for an "Explore Your Future" course by an organization called Crossroads, at the local mega- church. It's 3 nights in October. If it turns out to be useless , I'm out $30.

And one of these days I'm gonna attend one of those free gourmet dinners where they tell me how to achieve financial security in retirement. ;-)

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Old 08-10-2014, 05:42 AM   #3
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I'm sure the $250/hour is sensationalized and an extreme case.

But I do know a lot of people who keep w*rking (when they financially don't have to) - I think they do it because they cannot develop enough "activity and structure" to replace their work.

Never thought that a "pile of money and plenty of time" could be so problematic (serious).

The "retirement classes" I see are either financial or "basket weaving" (no offense to any basket weavers reading this).

Any good "hyperactive retiree" websites or forum boards out there ?
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Old 08-10-2014, 08:16 AM   #4
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I think this is part of the same trend as "coaches" when you lose your job. It never made sense to me because you should be extra frugal if you're without a paycheck and not financially ready to retire, but people pay large $ to get "coached" on how to handle being unemployed, how to stay motivated in the job hunt, etc.

I had a friend who was a fan of this stuff. But even when we were roommates she was big on self-help books and touchy feely "i'm ok your ok" type stuff. (I, clearly, am not. LOL)

Seems like there are books out there that could guide you through the process for a lot less money than hiring a coach.
What Color Is Your Parachute? for Retirement, Second Edition: Planning a Prosperous, Healthy, and Happy Future: John E. Nelson, Richard N. Bolles: 9781580082051: Books

How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won't Get from Your Financial Advisor: Ernie J. Zelinski: 9780969419495: Books

Those are just two that come to mind for people who are concerned about the "what will I do" aspect of retirement.
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Old 08-10-2014, 09:09 AM   #5
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Even better, how about a retirement PROXY instead of just a coach?

Your proxy could do all sorts of fun activities for you, even including travel, while you relax on the couch and enjoy your retirement years vicariously.

Might be a great option, you know? And all for just 1% of your assets (plus expenses).
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Old 08-10-2014, 09:43 AM   #6
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I sat through one of these sessions, provided for free by my alumni association. Needless to say, I was not impressed when the coach claimed they were retired when they left corporate America to support themselves by coaching.
Angels danced on the day that you were born.
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Old 08-10-2014, 01:15 PM   #7
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I guess when some people leave the corporate life, they need help to recreate the structure that their j*b gave their life. At first, I did expect to take on some significant consulting, but then got busy enough with volunteer stuff and hobbies that I never pounded the pavement enough to develop a clientele. Then I realized I didn't really want to anymore. I have plenty to do and even give myself permission to have days where not much gets done. Works for me.

"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
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