![people smiling together](/apac-retail-c-assets/cache-1688103653000/images/media-bin/web/retail/apac/au/miscellaneous/retirement-hero.jpg)
Reframe Retirement
Supporting a better retirement should start with well-being
Advisers play a key role in setting clients up for their retired lives, yet there is a disconnect between how the financial industry has historically approached retirement planning and the reality of client needs and values.
Start by rethinking your approach to retirement by centering conversations around well-being, and kickstarting these conversations ahead of time to ease your client’s transition into retirement.
What are retirees telling us?
![What are retirees telling us?](/apac-retail-c-assets/cache-1692767007000/images/media-bin/web/retail/apac/au/charts/chart-v5.png)
U.S. based study conducted through a nationally representative, five-generation study.
Today’s retirees derive the greatest sense of purpose from spending time with loved ones, with 67% of retirees saying they make it a priority to stay connected with family and friends.1
Retirees also find purpose from trying new things and developing new abilities to deepen their sense of self, as well as finding ways of giving back to the community.
Being financially wealthy was last on the list. This is contrast to pre-retirees (people within 10 years of planned retirement) who draw relatively more purpose from being financially wealthy.
Build client trust with the ROI approach to retirement
Enhance your relationships with clients by renaming, optimising and igniting wellbeing in retirement. the ROI approach:
![ROI image](/apac-retail-c-assets/cache-1691563892000/images/media-bin/web/retail/apac/au/practice-management-images/roi-img.png)
Re-wirement begins with well-being
What do we mean by wellbeing? What is a model for a good life, a happy life, a flourishing life, a life above “just getting by”? Researchers have come up with a model - a researched and approachable definition of well-being. Here we will explore different characteristics of flourishing individuals and ideas to help make a ‘good life’ even better.
![revamp](/apac-retail-c-assets/cache-1688108136000/images/media-bin/web/retail/apac/au/miscellaneous/revamp.png)
Source: BlackRock, Designing4Better October 2022
Purpose and place are key to well-being and financial needs
![Purpose graph](/apac-retail-c-assets/cache-1691992425000/images/media-bin/web/retail/apac/au/practice-management-images/purpose-v5.png)
One’s purpose, or “reason for being,” evolves in response to life’s changes, creating a journey of self-discovery, rewarding moments and personal contribution. As life takes on new meaning in retirement, embracing your purpose will enhance your well-being.
Begin by defining purpose. Purpose often lies at the intersection of what one cares about, what one does well and what makes one feel valued. Build stronger relationships with your clients by asking the right questions, get your clients thinking and help them define and design their “story”.
Bring your client’s vision to life
The final step is I – ignite. This is where you work closely with your clients to prototype and test out some ideas. There is never one best answer, but you can significantly improve your client’s well-being during retirement by narrowing down the best options that emerge. Within the framework of financial health and maximising well-being, try to cover all grounds that play a part of retirement.
Better understand the unique needs and challenges faced by women
![Women](/apac-retail-c-assets/cache-1688103653000/images/media-bin/web/retail/apac/au/miscellaneous/women.jpg)