Can visualization help with retirement planning?

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Using visualization to help you plan for retirement can seem a little ‘out there’. But there are benefits to imagining yourself in the future that you may not have expected. For starters, it can make the years to come more real. It can also encourage you to plan and save more for a better retirement.

According to Tony Clark, director of senior proposals for pensions at Saint Jacques Place, “Retirement savers should imagine themselves at an old age and imagine what it is like to be free from all the unwanted burdens of work.

“Allowing time to really feel what life might be like once you’ve reached your financial goals, especially when motivation weakens, can be an effective way to get into the financial success mindset. “

Why visualization is important when planning for retirement

For most people, planning for retirement means planning for a future that seems far away. It’s especially hard to imagine making sacrifices now to have a good life 30 or 40 years from now. So, for many, spending money on a car is now more rewarding than investing for a comfortable life after retirement.

“Humans tend to prefer a small advantage now rather than a bigger one later,” says Clark. “The more people expect to wait for the larger amount of money, the more irrational and impulsive they become, and more and more people today are opting for the smaller amount. Psychologists call this “temporal myopia,” an inability to fully consider the future outcomes of choices.

When it comes to planning for retirement, people also find it hard to imagine decades in the future as seniors. Clark adds, “A powerful method that can help overcome these obstacles to achieving retirement goals is to use the visualization techniques that elite athletes use to boost their motivation.

How visualization works

Visualization techniques have a long tradition in professional sport. Muhammad Ali’s quote, “If my mind can conceive it and my heart can believe it, then I can achieve it,” is a good example of how successful people use visualization to push themselves to achieve greater things. The same approach can be used when planning your retirement.

According to Forbes, visualizing success can increase your chances of achieving it. The technique can also reduce your stress during the process you are going through to get there.

Visualization techniques to help with retirement planning

Perhaps the easiest way to visualize your retirement is to create a vision board. All you need is a large map and lots of magazines. You can then find pictures or quotes that represent how you envision your retirement.

These can be photos of vacations, goods or emotions (relaxation, peace, etc.). Then place the board where you can see it frequently so that the pictures are always present.

You can also work on retirement planning by writing daily affirmations. Each morning write down a few things you want to be true when you retire. Examples include: “I am only 50 years old and I am retired” or “I live in a beautiful house with a large garden”. It can put you in the right mood to start the day, and it provides the right vision for the future.

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