Goal Setting and Action Planning for Retirement
Expert-defined terms from the Professional Certificate in Retirement Transition Coaching course at London School of Planning and Management. Free to read, free to share, paired with a globally recognised certification pathway.
Action Plan #
An outline of the steps a person intends to take to achieve their retirement goals, including specific actions, timelines, and resources needed, it is a crucial part of the retirement transition process. Related terms: Goal Setting, Retirement Transition, Transition Coaching.
Action Planning #
The process of creating an action plan, which involves identifying the steps needed to achieve a goal, and developing a schedule and resources to accomplish those steps, it is an essential skill for retirement coaches. Related terms: Goal Setting, Retirement Planning, Transition Management.
Adaptive Leadership #
A leadership approach that involves being flexible and adaptable in response to changing circumstances, it is essential for retirement transition coaching. Related terms: Leadership, Retirement Transition, Transition Coaching.
Age Discrimination #
The practice of treating individuals unfairly or differently because of their age, it is a significant challenge for older workers in the workforce. Related terms: Ageism, Retirement, Workforce.
Ageism #
A form of discrimination that involves stereotyping or prejudging individuals based on their age, it can affect older workers in the workforce. Related terms: Age Discrimination, Retirement, Workforce.
Annuity #
A financial product that provides a guaranteed income stream for a set period or for life, it is a popular retirement income option. Related terms: Retirement Income, Retirement Planning, Financial Planning.
Asset Allocation #
The process of dividing investments among different asset classes, such as stocks, bonds, and cash, to manage risk and achieve long-term goals, it is a crucial part of retirement planning. Related terms: Investment, Retirement Planning, Financial Planning.
Baby Boomer #
A person born between 1946 and 1964, this generation is retiring in large numbers and driving the need for retirement transition coaching. Related terms: Retirement, Retirement Transition, Transition Coaching.
Benefit #
A payment or other form of compensation provided to an individual, such as a pension or health insurance, it is an essential part of retirement planning. Related terms: Retirement Benefit, Pension, Health Insurance.
Bridge Job #
A temporary or part-time job that an individual takes after retiring from their primary career, it is a common transition strategy for retirees. Related terms: Retirement, Transition, Career Transition.
Career Development #
The process of improving or advancing one's career, it is an essential part of retirement transition coaching. Related terms: Career Transition, Retirement Transition, Transition Coaching.
Career Transition #
The process of changing or transitioning from one career to another, it is a significant challenge for older workers. Related terms: Career Development, Retirement Transition, Transition Management.
Certified Retirement Coach #
A professional who has been certified to provide retirement coaching services, they must have completed a training program and passed a certification exam. Related terms: Retirement Coach, Transition Coach, Certification.
Coach #
A professional who provides guidance, support, and encouragement to help individuals achieve their goals, they play a crucial role in retirement transition coaching. Related terms: Retirement Coach, Transition Coach, Coaching.
Coaching #
The process of providing guidance, support, and encouragement to help individuals achieve their goals, it is an essential part of retirement transition coaching. Related terms: Retirement Coaching, Transition Coaching, Coach.
Cognitive Ability #
The mental capacity to process information, learn, and remember, it is an essential aspect of aging and retirement. Related terms: Aging, Retirement, Cognitive Decline.
Cohort #
A group of individuals who share similar characteristics or experiences, such as birth year or retirement status, they are often used in research studies on retirement. Related terms: Retirement, Research, Demographics.
Community #
A group of people who share common interests, goals, or characteristics, it is an essential part of retirement and wellbeing. Related terms: Social Support, Retirement, Wellbeing.
Comprehensive Planning #
A holistic approach to planning that considers all aspects of an individual's life, including financial, social, and emotional, it is an essential part of retirement planning. Related terms: Retirement Planning, Financial Planning, Holistic Planning.
Continuing Care Retirement Community #
A type of retirement community that provides a range of care and support services, from independent living to skilled nursing care, it is a popular retirement option. Related terms: Retirement Community, Assisted Living, Nursing Home.
Defined Benefit Plan #
A type of pension plan that provides a guaranteed benefit amount based on an individual's salary and years of service, it is a traditional retirement benefit option. Related terms: Pension Plan, Retirement Benefit, Defined Contribution Plan.
Defined Contribution Plan #
A type of pension plan that provides a contribution amount based on an individual's salary and years of service, it is a common retirement benefit option. Related terms: Pension Plan, Retirement Benefit, Defined Benefit Plan.
Demographic #
A characteristic of a population, such as age, gender, or income level, it is an essential aspect of retirement research. Related terms: Demographics, Retirement, Research.
Disability #
A physical or mental condition that limits an individual's ability to perform daily activities, it is a significant challenge for older workers and retirees. Related terms: Disability Insurance, Retirement, Ageism.
Disability Insurance #
A type of insurance that provides income replacement or other benefits in the event of a disability, it is an essential part of retirement planning. Related terms: Insurance, Retirement Planning, Disability.
Diversity #
The presence of different groups or individuals with unique characteristics, experiences, or perspectives, it is an essential aspect of retirement coaching and transition management. Related terms: Inclusion, Retirement Coaching, Transition Management.
Early Retirement #
Retirement that occurs before the traditional retirement age, typically 65, it is a popular retirement option for some individuals. Related terms: Retirement, Retirement Age, Phased Retirement.
Elder Care #
Care or support provided to older adults, such as assistance with daily activities or health care, it is an essential part of retirement transition coaching. Related terms: Caregiving, Retirement, Aging.
Emotional Intelligence #
The ability to recognize and understand emotions in oneself and others, it is an essential aspect of retirement coaching and transition management. Related terms: Self-Awareness, Retirement Coaching, Transition Management.
Employee Assistance Program #
A program provided by an employer to support employees with personal or work-related issues, it is an essential part of retirement transition coaching. Related terms: Employee Benefits, Retirement, Work-Life Balance.
Employment #
A state of being engaged in paid work or a profession, it is an essential aspect of retirement transition coaching. Related terms: Work, Career, Retirement.
Entrepreneurship #
The process of starting or running one's own business, it is a popular retirement option for some individuals. Related terms: Small Business, Retirement, Career Transition.
Estate Planning #
The process of managing and distributing one's assets after death, it is an essential part of retirement planning. Related terms: Will, Trust, Inheritance.
Executive Coach #
A professional coach who works with executives or senior leaders to improve their performance or achieve specific goals, they play a crucial role in retirement transition coaching. Related terms: Coach, Retirement Coach, Executive Development.
Financial Literacy #
The ability to understand and manage personal finances, including budgeting, saving, and investing, it is an essential aspect of retirement planning. Related terms: Financial Planning, Retirement Planning, Money Management.
Financial Planning #
The process of creating a comprehensive plan to manage one's finances, including budgeting, saving, and investing, it is an essential part of retirement planning. Related terms: Retirement Planning, Financial Literacy, Money Management.
Flexible Work! Arrangement #
A work arrangement that allows employees to have more control over their schedule or work environment, it is a popular retirement option for some individuals. Related terms: Telecommuting, Flexible Work, Retirement.
Goal Setting #
The process of identifying and setting specific, measurable, achievable, relevant, and time-bound (SMART) goals, it is an essential part of retirement transition coaching. Related terms: Action Planning, Retirement Planning, Transition Management.
Group Coaching #
A type of coaching that involves working with a group of individuals to achieve common goals or objectives, it is an essential part of retirement transition coaching. Related terms: Coaching, Retirement Coaching, Group Facilitation.
Health Insurance #
A type of insurance that provides coverage for medical expenses, it is an essential part of retirement planning. Related terms: Insurance, Retirement Planning, Health Care.
Health Promotion #
The process of promoting healthy behaviors or lifestyles, it is an essential aspect of retirement coaching and transition management. Related terms: Wellness, Retirement Coaching, Transition Management.
Holistic Planning #
A comprehensive approach to planning that considers all aspects of an individual's life, including financial, social, and emotional, it is an essential part of retirement planning. Related terms: Comprehensive Planning, Retirement Planning, Financial Planning.
Inclusion #
The practice of creating an environment where all individuals feel valued, respected, and supported, it is an essential aspect of retirement coaching and transition management. Related terms: Diversity, Retirement Coaching, Transition Management.
Income Replacement #
A strategy for replacing income in retirement, such as through a pension or annuity, it is an essential part of retirement planning.
Individual Retirement Account #
A type of savings account that provides tax benefits for retirement savings, it is a popular retirement savings option. Related terms: Retirement Savings, Retirement Planning, Financial Planning.
Inheritance #
The transfer of assets or property from one generation to the next, it is an essential part of estate planning. Related terms: Estate Planning, Will, Trust.
Insurance #
A type of financial protection that provides coverage for specific risks or events, such as health or disability, it is an essential part of retirement planning. Related terms: Health Insurance, Disability Insurance, Retirement Planning.
Investment #
The act of putting money into a financial asset, such as stocks or bonds, with the expectation of earning a return, it is an essential part of retirement planning. Related terms: Asset Allocation, Retirement Planning, Financial Planning.
Investment Portfolio #
A collection of financial assets, such as stocks or bonds, that are managed to achieve specific investment goals, it is an essential part of retirement planning.
Leadership #
The ability to influence or guide others to achieve specific goals or objectives, it is an essential aspect of retirement coaching and transition management. Related terms: Leadership Development, Retirement Coaching, Transition Management.
Legacy #
The impact or influence that an individual leaves on others or the world, it is an essential aspect of retirement coaching and transition management. Related terms: Retirement Coaching, Transition Management, Personal Legacy.
Life Coaching #
A type of coaching that focuses on helping individuals achieve personal or professional goals, it is an essential part of retirement transition coaching. Related terms: Coaching, Retirement Coaching, Personal Development.
Life Expectancy #
The average number of years an individual is expected to live, it is an essential aspect of retirement planning and estate planning. Related terms: Retirement Planning, Estate Planning, Longevity.
Long #
Term Care: Care or support provided to individuals who need assistance with daily activities over an extended period, it is an essential part of retirement planning. Related terms: Elder Care, Retirement, Aging.
Longevity #
The length of time an individual lives, it is an essential aspect of retirement planning and estate planning. Related terms: Life Expectancy, Retirement Planning, Estate Planning.
Medicare #
A government-sponsored health insurance program for individuals 65 and older, it is an essential part of retirement planning. Related terms: Health Insurance, Retirement Planning, Social Security.
Mentor #
An experienced individual who provides guidance, support, and encouragement to help others achieve their goals, they play a crucial role in retirement transition coaching. Related terms: Coaching, Retirement Coaching, Mentorship.
Money Management #
The process of managing one's finances, including budgeting, saving, and investing, it is an essential part of retirement planning. Related terms: Financial Planning, Retirement Planning, Financial Literacy.
Motivation #
The drive or inspiration to achieve specific goals or objectives, it is an essential aspect of retirement coaching and transition management. Related terms: Goal Setting, Retirement Coaching, Transition Management.
Networking #
The process of building relationships or connections with others, it is an essential part of retirement transition coaching. Related terms: Career Development, Retirement Coaching, Professional Development.
Nursing Home #
A facility that provides 24-hour care and support to individuals who need assistance with daily activities, it is an essential part of retirement planning.
Older Worker #
An individual who is 50 or older and still engaged in the workforce, they are a significant demographic for retirement transition coaching. Related terms: Retirement, Workforce, Aging.
Pension #
A type of retirement benefit that provides a guaranteed income stream, it is a traditional retirement benefit option. Related terms: Retirement Benefit, Defined Benefit Plan, Defined Contribution Plan.
Pension Plan #
A type of retirement plan that provides a guaranteed benefit amount based on an individual's salary and years of service, it is a traditional retirement benefit option. Related terms: Retirement Plan, Defined Benefit Plan, Defined Contribution Plan.
Personal Development #
The process of improving or developing one's skills, knowledge, or abilities, it is an essential part of retirement transition coaching. Related terms: Career Development, Retirement Coaching, Self-Improvement.
Personal Legacy #
The impact or influence that an individual leaves on others or the world, it is an essential aspect of retirement coaching and transition management. Related terms: Legacy, Retirement Coaching, Transition Management.
Phased Retirement #
A gradual transition from full-time work to retirement, it is a popular retirement option for some individuals.
Portfolio #
A collection of financial assets, such as stocks or bonds, that are managed to achieve specific investment goals, it is an essential part of retirement planning.
Professional Development #
The process of improving or developing one's skills, knowledge, or abilities, it is an essential part of retirement transition coaching. Related terms: Career Development, Retirement Coaching, Personal Development.
Psychological Contract #
The unwritten expectations or agreements between an individual and their employer, it is an essential aspect of retirement transition coaching. Related terms: Employment, Retirement, Work-Life Balance.
Recruitment #
The process of attracting or hiring new employees, it is an essential part of retirement transition coaching. Related terms: Talent Management, Retirement, Workforce.
Refirement #
A process of redefining or reinventing one's purpose or passion in retirement, it is an essential part of retirement transition coaching.
Research #
The process of gathering or analyzing data to better understand a topic or issue, it is an essential part of retirement coaching and transition management. Related terms: Study, Analysis, Retirement Research.
Retiree #
An individual who has retired from their primary career or profession, they are a significant demographic for retirement transition coaching.
Retirement #
The state of being retired from one's primary career or profession, it is a significant life transition that requires coaching and support. Related terms: Transition, Career Transition, Retirement Coaching.
Retirement Age #
The age at which an individual is eligible to receive full retirement benefits, typically 65, it is an essential aspect of retirement planning. Related terms: Retirement, Retirement Benefit, Social Security.
Retirement Benefit #
A payment or other form of compensation provided to an individual in retirement, it is an essential part of retirement planning. Related terms: Pension, Retirement Planning, Financial Planning.
Retirement Community #
A residential community designed for older adults, it is a popular retirement option for some individuals. Related terms: Assisted Living, Nursing Home, Continuing Care Retirement Community.
Retirement Income #
The income or financial resources available to an individual in retirement, it is an essential part of retirement planning. Related terms: Retirement Planning, Financial Planning, Income Replacement.
Retirement Planning #
The process of creating a comprehensive plan to manage one's finances, health, and well-being in retirement, it is an essential part of retirement transition coaching. Related terms: Financial Planning, Retirement, Transition Management.
Retirement Savings #
The process of saving or investing for retirement, it is an essential part of retirement planning. Related terms: Retirement Planning, Financial Planning, Savings.
Retirement Transition #
The process of transitioning from one's primary career or profession to retirement, it is a significant life transition that requires coaching and support.
Retirement Transition Coaching #
A type of coaching that focuses on helping individuals navigate the transition to retirement, it is an essential part of retirement planning. Related terms: Coaching, Retirement Coaching, Transition Management.
Reverse Mortgage #
A type of loan that allows homeowners to borrow against the value of their home, it is a popular retirement income option.
Risk Management #
The process of identifying, assessing, and mitigating potential risks or threats, it is an essential part of retirement planning. Related terms: Financial Planning, Retirement Planning, Risk Assessment.
Self #
Awareness: The ability to recognize and understand one's own thoughts, feelings, and behaviors, it is an essential aspect of retirement coaching and transition management. Related terms: Emotional Intelligence, Retirement Coaching, Transition Management.
Self #
Employment: The state of being one's own employer or working independently, it is a popular retirement option for some individuals. Related terms: Entrepreneurship, Retirement, Career Transition.
Social Security #
A government-sponsored program that provides income replacement or other benefits to eligible individuals, it is an essential part of retirement planning. Related terms: Retirement Benefit, Retirement Planning, Financial Planning.
Sociodemographic #
A characteristic of a population, such as age, gender, or income level, it is an essential aspect of retirement research and demographics.
Succession Planning #
The process of identifying, developing, and selecting future leaders or successors, it is an essential part of retirement transition coaching. Related terms: Leadership Development, Retirement, Transition Management.
Sustainability #
The ability to maintain or support a system or process over time, it is an essential aspect of retirement planning and financial planning. Related terms: Financial Planning, Retirement Planning, Long-Term Care.
Talent Management #
The process of attracting, developing, and retaining talented employees, it is an essential part of retirement transition coaching. Related terms: Recruitment, Retirement, Workforce.
Tax Planning #
The process of managing or minimizing taxes, it is an essential part of retirement planning and financial planning. Related terms: Financial Planning, Retirement Planning, Taxation.
Telecommuting #
The practice of working from a remote location, such as home, it is a popular retirement option for some individuals. Related terms: Flexible Work, Retirement, Career Transition.
Transition #
The process of changing or moving from one state or phase to another, it is a significant aspect of retirement coaching and transition management. Related terms: Career Transition, Retirement Transition, Transition Management.
Transition Coaching #
A type of coaching that focuses on helping individuals navigate significant life transitions, it is an essential part of retirement planning.
Transition Management #
The process of planning, implementing, and evaluating a transition, it is an essential part of retirement transition coaching. Related terms: Transition, Career Transition, Retirement Transition.
Trust #
A legal arrangement that allows an individual to manage or distribute assets on behalf of another person, it is an essential part of estate planning. Related terms: Estate Planning, Will, Inheritance.
Wellbeing #
The state of being healthy, happy, or fulfilled, it is an essential aspect of retirement coaching and transition management.
Wellness #
The state of being healthy or thriving, it is an essential aspect of retirement coaching and transition management. Related terms: Wellbeing, Retirement Coaching, Transition Management.
Will #
A legal document that outlines an individual's wishes for the distribution of their assets after death, it is an essential part of estate planning. Related terms: Estate Planning, Trust, Inheritance.
Work #
Life Balance: The ability to balance or manage the demands of work and personal life, it is an essential aspect of retirement coaching and transition management. Related terms: Retirement Coaching, Transition Management, Psychological Contract.
Workforce #
The group of individuals who are employed or engaged in a particular industry or profession, it is an essential aspect of retirement transition coaching.