From Back to School Nerves to Retirement Jitters

Retirement is one of the biggest transitions in life, and like any major change, it comes with nerves, uncertainty, and questions. In this episode of The Own Your Retirement Show, hosts Josh Bretl and Mark Elliott dig into what it really takes to prepare for retirement without making the emotional missteps that can sabotage years of hard work.

Life Transitions and Retirement

Josh begins with a personal story about his twin boys entering middle school. The shift from elementary to middle school felt overwhelming for them new routines, new expectations, new responsibilities. Josh draws a parallel to retirement. For financial advisors, turning on income streams, mapping out taxes, and preparing healthcare strategies may feel normal. For retirees, the unknowns can be intimidating. Just like his kids, many retirees experience nerves before stepping into this next phase of life. The only way to ease those nerves is preparation.

Why Emotional Decisions Hurt Retirement

Markets move, headlines shout, and emotions run high. Whether it is tariffs, elections, or Federal Reserve news, uncertainty can cause knee jerk reactions. Josh points out that emotional decisions often lead to costly mistakes. He urges retirees to focus less on headlines and more on positioning their money so they can weather both the good and the bad. Markets crave certainty, and so do retirees. Having a clear plan helps you stay calm when the noise gets loud.

The Five Financial Stages of Life

Every financial journey passes through five stages, and Josh and Mark walk listeners through each one.

• Early Career: You are earning your first real paycheck. The key is to build a savings habit, set up your retirement account, and create an emergency fund before lifestyle creep takes over.
• Family Building: Homes, kids, and expenses multiply. Savings gets tougher, but sticking to financial fundamentals living within your means, protecting against emergencies, and keeping long term savings alive lays the foundation.
• Pre Retirement: Peak earning years bring opportunity but also risk. This is the now or never stage where mistakes can cost dearly. Tax strategies, healthcare planning, and shifting investments become crucial.
• Retirement: The paycheck stops but the spending continues. This stage is all about income: where it comes from, how much you can safely spend, and how to balance dreams with discipline.
• Legacy and Estate: No one enjoys planning this part, but it matters. Deciding how assets pass on ensures your money goes where you want, not just where Uncle Sam says it should.

Lessons from Experience

Josh reflects on what he would tell his 20 year old self: save earlier, build an emergency fund, and do not underestimate the impact of compounding. He emphasizes that while advisors do not always work directly with young clients, smart habits early make later stages easier.

For those entering retirement, preparation is everything. Josh shares a story about his uncle who postponed retirement after the 2008 crash only to pass away shortly after finally stepping away from work. The lesson is clear: with proper planning, retirees may discover they can retire sooner than they thought, giving them more time to enjoy life.

Protecting Against Scams

Unfortunately, retirees are prime targets for scammers. From fake Social Security calls to email hacks that mimic legitimate requests, the risks are real. Josh encourages setting up a trusted contact on financial accounts, using strong password managers, and leaning on advisors for a second opinion before sending money or sharing information. Sometimes the best financial strategy is simply avoiding preventable mistakes.

Taking Control of Retirement

Retirement is personal, and no two plans look the same. That is why Josh and the FSR Wealth Strategies team created the Own Your Retirement Planning Process. By walking through income, investments, taxes, healthcare, and legacy, retirees gain clarity and confidence to move forward.

The bottom line is that transitions are never easy whether it is a middle schooler facing a new locker or a retiree navigating the end of a paycheck. With preparation, guidance, and a plan that fits your unique life, retirement really can become the best part of your life.

📞 Ready to talk? Call (630) 478-9599 to schedule your private 15-minute call with an FSR advisor.