Financial Advisor in Utah, Mark K. Lund, Presents The Effective Investor Newsletter, August 29, 2022

Avoiding Retirement Claustrophobia

Retirement is supposed to be a time of increased freedom and happiness. After all, when you no longer need a job to provide your living, you can pursue the things you never had time for before.

However, for many people, the thought of retiring brings anxiety.

A recent survey by the job site Zety found that a majority of respondents were anxious about multiple aspects of retirement:

87% feared having a lack of income
73% had fears about medical coverage
71% were worried about keeping mentally active
64% feared they couldn’t be physically active
and half were not looking forward to losing the social ties they enjoyed through work
The survey found this apprehension so prevalent that 47% of respondents said they feared retirement more than poor health. And 40% even said they feared retirement more than death.1

One of the biggest sources of fear is the unknown. And it’s entirely natural to be afraid of making a major life change when you don’t know much about what’s going to happen on the other side.

Additionally, while retirement is potentially a time of unmatched freedom, it also marks the end of a number of things people have relied on for most of their adult lives: a paycheck, health coverage provided by an employer, and socializing with people at work. To lose any of these without an adequate replacement would be difficult for anybody.

Robert Laura, an expert on wellness in retirement, says that for some people, heading into their post-career life can be as panic-inducing as having a medical procedure like an MRI.2

Laura recalls that when he first experienced this diagnostic procedure, the people at the imaging clinic gave him almost no preparation for the anxieties he might experience. They basically handed him a panic button and slid him into the tube. Laura says that there’s not much that scares him. But almost immediately he hit the panic button to get out.

“I wasn’t told to close my eyes or put something over my eyes,” he said, “and I wasn’t offered music or anything familiar to comfort the situation.”

It wasn’t enough to be told that the MRI was vital to protecting his health or that nothing in the tube could harm him. Fear often isn’t very rational.

In the same way, it’s important to acknowledge the fears you might have about retirement and address their causes. If you fear some of the things on the Zety list, then have a plan for replacing and even going beyond the things you will give up when you’re no longer working.

Your trusted advisor has guided many people through this transition and can provide you with a plan and the kind of realistic expectations that can help remove the fear.

If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.

Mark Lund
Stonecreek Wealth Advisors, Inc.
11576 S State Street, Bldg. 1002
Draper, UT 84020


This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by Efficient Advisors, LLC (“EA’) for Mark Lund, Mark is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Advisor, Financial Planner, Investment Advisor and author of The Effective Investor. Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment and retirement planning for individuals and 401k consulting for small businesses. Mark’s newsletter is called The Fiduciary Report. Cities served in Utah are: Salt Lake County, Utah County, Park City, Salt Lake City, Murray, West Jordan, Sandy, Draper, South Jordan, Provo, Orem, Lehi, Highland, Alpine, American Fork. The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.