Confidence- A Key To Retiring Well


Fact Checked by

Matthew Schwartz CFP®, CRPC®


Did you know one out of three Americans feel very confident in their ability to retire, according to the survey released in 2022 by Greenwald Research (1)? This is a powerful position to be in because the level of confidence associated with our financial stability in retirement can directly impact how we embrace and engage with this new season. 


However, confidence in our finances doesn’t equate to confidence in our ability to handle the lifestyle change that comes with stepping out of a career and into the future. Another study published by psychology today concluded “that self-esteem rose steadily until retirement, or about age 60-65, then declined steadily after that” (2). 

What does this mean? Perhaps, it’s not just account balances or income streams that produce a confident retiree. 


Where does confidence come from?

Confidence shows up in different ways for us. There’s confidence in our abilities and confidence in who we are. 



Throughout our working careers, we are constantly building and growing our skill sets. Through trial and error or success and failure we improve our ability to produce or add value to the world around us. Over time, we may experience promotions or pay raises that validate the increasing abilities that we have. This sense internally, and being validated externally, gives us 

confidence that we are good at what we do.  Once we step into retirement, there are no promotions to be received or pay raises to be acquired. How do we shift our mindset to no longer fixate on career driven achievements to provide us with confidence? 


That is where the mental shift to focusing on confidence in who we are becomes critical.



Although we may no longer work for an organization where we can receive accolades, we remain the same individual who worked hard, diligently, and faithfully to receive the recognition we have in the past. The key is to remember that we are not a result of our achievements, but rather our results flow from who we are as a person, that same driven individual hasn’t left.


What now?

As we move forward into retirement, it becomes important to reframe the world around us. Where in our lives are we able to repurpose the gifts, talents and skills we’ve  developed over the years? How can we still have an impact on those around us? Where can we share our journey with others? Doing so allows us space to remember both who we are and what we have done over the years. These types of actions can reestablish the confidence we may need as we embark on this new journey. 





Have a Question?

Do you have specific questions about your next life phase? How can we help?