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Exploring the psychology of retirement
Retirement planning is often seen as a numbers exercise, but it is just as much a psychological and social transition as it is a financial one. Beyond income and assets, clients face deeper questions about identity, security and trust in professional advice.
Our research explores the drivers and barriers that shape retirement readiness, highlighting the emotional and behavioural factors that influence how clients prepare for this stage of life. These insights help advisers better understand the mindset of clients approaching retirement and support them more effectively throughout the advice process.
While financial wealth forms the foundation, it is clients’ confidence, knowledge and trust in their advisers that determine whether they feel genuinely prepared for the future.
In this four-part video series, we reveal the key psychological elements of retirement and share practical, science‑backed strategies advisers can use to:
- Strengthen financial self‑efficacy
- Build trust and confidence
- Support effective planning and manage expectations
You can also download the full research reports for additional guidance and tools to help boost your clients’ retirement readiness.
In collaboration with Cowry Consulting – renowned global behavioural science specialists with proven track record in the finance sector – we’ve applied behavioural science, psychometric research techniques and predictive modelling, to uncover not only what clients say, but how they truly feel about whether they are financially and psychologically prepared for retirement.
To bridge the divide between theory and practice, we’ve delved into behavioural science. We have used a combination of insights, as well as conversations with practicing financial advisers, to better understand the realities of their role and the tools at their disposal. Our insight identified three key areas that outline how advisers can effectively support clients in both the financial and emotional aspects of retirement readiness.
Guiding clients through life’s pivotal moments is all part of being a trusted financial adviser and you can enrich these interactions by improving your understanding of emotions. We’ve curated a series of training videos to help you develop your emotional intelligence – a skill that can elevate the way you work with clients.