As we scour the web for articles about retirement and aging to spotlight here on the Blog, one fact quickly becomes clear: retirement will teach us many lessons, whether we like it or not. 

That was our reaction to this recent article from GoBankingRates.   In this article, contributing reporter Vance Cariaga introduces us to three baby boomers whose retirement plans were derailed either by illness or experience. Cariaga interviewed each as they shared retirement lessons they wish they had known years before. We share this article as food for thought. 

But the article also causes us to ask a few questions. First, none of these “derailments” should have come as a surprise, so why did they? And second, is there a way each could have prepared more carefully for the changes retirement would bring? Let’s share Cariaga’s article and see if Rajiv has some answers for us. 

Changing Course When Retirement Isn’t Working Out 

“The youngest baby boomers turn 61 years old in 2025,” Cariaga begins, “meaning they are only a year or so away from qualifying for Social Security retirement benefits. Their oldest boomer compatriots, born in 1946, are closing in on 80 years old and many of them probably left work behind years ago.”    

But, Cariaga adds, many boomers have retired, only to choose “un-retirement” when they found that retirement wasn’t working out. We reported on this phenomenon here on the Blog just a few weeks ago. 

Forced Into Early Retirement by a Medical Diagnosis 

Many boomers have chosen to retire early, but for some like TV producer and author George Jerjian, early retirement wasn’t a choice. A life-threatening medical diagnosis at age 52 forced him to the sidelines. 

According to Cariaga’s article, Jerjian told his story in a 2022 column for CNBC’s “Make It.”  He explained how he was forced into early retirement in 2007 for medical reasons. “But,” adds Cariaga, “after making a recovery, Jerjian found himself ‘bored, restless and stuck. My enthusiasm and energy diminished. My mental health suffered.’” 

At that point, Cariaga writes, Jerjian “decided to join the ranks of the unretired by going back to work.” He launched a personal coaching company geared specifically to helping retirees find fulfillment. After asking 15,000 retirees to describe their single biggest challenge in retirement, the answer became clear. 

“The biggest retirement challenge that no one talks about, in my experience, is finding purpose,” Jerjian wrote. “Sure, money is certainly a concern. ‘I have a fear of poverty and losing dignity,’ one person said. Another wrote: ‘Money goes out, nothing comes in.’ But surprisingly, financial worries weren’t among the top three in the list.” 

Beach Weekends and Unlimited Golf Left Her Unfulfilled 

The next boomer interviewed by Cariaga, Nan Ives, retired early by choice – then came to regret it. 

“A long-time employee at Fidelity Investments, [Ives] had a similar experience after taking an early retirement package at age 59 last decade,” Cariaga writes. In a 2024 Fortune interview,  she said her goals were simple: lots of travel, weekends on Cape Cod, and unlimited golf.  

“But Ives, now 65, found that retirement was not all it was cracked up to be,” says Cariaga.Her description of her life could have been written by many of her peers.  

“I could not wait to retire …. But if you retire at 60, there’s people living to their nineties. That’s a third of your life. To do what?” Ives said. “You don’t have to work, you don’t have to deal with all the things that are challenging about working, but it’s a third of your life that you don’t have a road map for.” 

Like television producer Jerjian, Ives also unretired and launched a retirement coaching organization called The Future of You.  

Make Sure Your Retirement Dreams Include “a Dose of Reality” 

Cariaga’s article in GoBankingRates ends with a retired journalist named Bob Neidt. While technically not unretired, Niedt still writes for various media outlets. We like what he had to say in one of the columns he wrote, this one in 2023 for AARP.  

“Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5,” said Neidt. “Maybe that prophecy includes regular travel, longer trips to see the grandchildren, volunteering or finally having the time to work on that screenplay that’s been in your back pocket.” 

But Neidt also includes this cautionary note. “Retirement can be any or all of those things,” he asserts, “but you’re going to have to season that stew with a heaping spoonful of reality. Other things are going to occupy your time, and your money.” 

Lessons Learned About Money – and Other Facets of Retirement 

Writing for AARP, Neidt outlined some of the lessons he wished he had learned before retiring. He shared six in all, but these three have to do specifically with financial planning. We’re including these verbatim from Cariaga’s GoBankingRates article. 

Don’t borrow from your 401(k) because “even if you can afford to both contribute and pay back the loan, you might not be able to” because some plans don’t allow you to contribute until the loan is repaid. 

Pay down credit card debt before retirement because “one thing you don’t want to carry into retirement is a lot of debt.” 

Consider a health savings account because “as we age, health care becomes increasingly important and increasingly expensive. Having a well-funded HSA can be a powerful tool.” 

We also took a peek at the other three “lessons learned” from Neidt’s article.   These are: 

*Do your homework before you decide to move (because your “dream destination” might not have all the amenities and benefits you were expecting). 

*Don’t assume everyone you care about will have time for you. (Those you love will have busy schedules even if you don’t.) 

*You might still need to work – or want to. (“Working in retirement because you want to instead of need to, I’ve found, is a great pressure valve for what could be perceived as the, well, boredom of retirement,” Neidt observed.) 

The Most Important Place to Start: A Financial Dashboard 

When we asked Rajiv to comment on this article, he quickly acknowledged that every retiree’s situation is unique. Still, he told us, there are certain planning tools everyone needs.  

“There’s no one-size-fits-all answer to planning for a secure financial future,” Rajiv Nagaich said recently. “Everybody’s situation is different. But I would start with a bigger question: do you have a financial roadmap to guide you?” Rajiv calls this roadmap a financial dashboard.  

“A financial dashboard gives you the ability to make smart decisions no matter what happens,” he continues. “That includes unexpected hiccups that are an inevitable part of retirement. You’ll face a sudden tax liability. Your spouse will fall ill. Your adult child will need your financial support. You’ll have to retire years before you had planned to. The list of speedbumps is endless.” 

With a Financial Dashboard, You Won’t Make Decisions in a Vacuum 

With a financial dashboard, however, you’ll have the tools to evaluate the impact of your situation and allocate your resources to meet the need. “The sooner you meet with a qualified planner and create a [financial] dashboard, the better-equipped you’ll be for whatever life throws your way,” Rajiv emphasizes.  

“But you need the right professional planner to help you. I urge you – give us a call and let us put you in contact with the right adviser. Then,” he adds, “you can face your financial future with true confidence and peace of mind.” 

You can deal with the inevitable twists and turns of retirement by starting at the planning level. That way you can truly face the future with a sense of security. Let us show you how.  

Rajiv Nagaich – Your Retirement Planning Coach and Guide 

The long-awaited book by Rajiv Nagaich, called Your Retirement: Dream or Disaster, has been released and is now available to the public. Retirement: Dream or Disaster joins Rajiv’s ground-breaking DVD series and workbook, Master Your Future, as a powerful planning tool in your retirement toolbox. As a friend of AgingOptions, we know you’ll want to get your copy and spread the word.  

You’ve heard Rajiv say it repeatedly: 70 percent of retirement plans will fail. If you know someone whose retirement turned into a nightmare when they were forced into a nursing home, went broke paying for care, or became a burden to their families – and you want to make sure it doesn’t happen to you – then this book is must-read. 

Through stories, examples, and personal insights, Rajiv takes us along on his journey of expanding awareness about a problem that few are willing to talk about, yet it’s one that results in millions of Americans sleepwalking their way into their worst nightmares about aging. Rajiv lays bare the shortcomings of traditional retirement planning advice, exposes the biases many professionals have about what is best for older adults, and much more. 

Rajiv then offers a solution: LifePlanning, his groundbreaking approach to retirement planning. Rajiv explains the essential planning steps and, most importantly, how to develop the framework for these elements to work in concert toward your most deeply held retirement goals.  

Your retirement can be the exciting and fulfilling life you’ve always wanted it to be. Start by reading and sharing Rajiv’s important message. And remember, Age On, everyone! 

(originally reported at https://gobankingrates.com)