When you plan for your retirement is a very likely that most of your thinking is focussed on your financial portfolio. How is it invested? Is there enough? And probably more questions besides.

What you may not have given much thought to is your psychological portfolio.

In her book Too Young to be Old Professor Nancy K Schlossberg recommends that in addition to securing your financial portfolio it is essential to ensure you have a psychological portfolio in place consisting of three assets, identity, relationship and purpose.

Just as with your financial portfolio these things won’t simply fall into place of their own accord, you need to do something to put them in place.

There are a couple of main points to consider for each;

Identity

How will you define yourself once you stop whatever you are doing now? What might you put on your calling card? Please don’t be tempted by putting an “ex….” Our mental wellbeing can be impacted positively by making sure to retire to something not by living on our past achievements.

The converse is true for not having a new stage planned.

Relationship

Countless studies have found that retaining good social connections is critical to our wellbeing. The people who live in The Blue Zones seem to have mastered the art of community alongside their diets and activity levels. It is no coincidence that these zones are home to some of the longest lived people on the planet, but more importantly they enjoy longer health spans.

Purpose

The Japanese concept of Ikigai can be roughly translated into English as your reason for getting up in the morning. Having a reason to get up is a key benefit to our later lives. 

Getting your psychological portfolio in order ahead of transition to retirement will have a profoundly positive impact on the quality of your life.