In the wake of President Joe Biden's decision to retire, the question of when to hang up one's hat is being deeply discussed across the nation. Ranked as the tenth biggest stressor on the Holmes-Rahe Stress Inventory, the journey to retirement can be a psychological marathon, often requiring months or even years of preparation (Holmes-Rahe Stress Inventory, n.d.). This period of life is a frequent topic in psychotherapy sessions, as individuals grapple with the multifaceted challenges it presents.

Let’s delve into the key considerations for guiding your patients through this significant life transition.

The average retirement age in the U.S. is 62 for women and 64 for men, and financial preparedness is often the most salient factor. Social Security benefits can start at age 62, but full retirement age is 66 or 67, depending on the year of birth (Social Security Administration, n.d.). Medicare eligibility begins at age 65. The U.S. Bureau of Labor Statistics (BLS) reported that about 32 percent of people aged 65 to 74 were still in the labor force (U.S. Bureau of Labor Statistics, 2023).

Some patients are reluctant to talk to their therapists about financial matters while others are more forthcoming. There is a growing field of financial therapists specifically trained to combine elements of financial planning with therapeutic practices to address the emotional and psychological aspects of money management. Many financial therapists are certified by the Financial Therapy Association and are designated as CFT-I, certified financial therapist level 1.

As we age, we inevitably lose some mental speed and ability. Can patients still perform their work-related responsibilities successfully? Neuropsychological........

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