Retirement Management Retirement planning as widely practiced is insufficient and can lead to a false sense of security. Most plans are not fully implemented and those that are put into action are rarely monitored and evaluated for effectiveness. New thinking is required for the new retirement. Many of us will live thirty years without a paycheck. How we spend money will take on new meaning. We will become more sensitive to our investments as they become our new lifeline. Many of us look to retirement as a time of leisure, but most will get bored and distracted with thirty years of meandering lacking focus and value.The POISE process brings together all aspects of the retirement experience. We feel most clients do not want to simply get through retirement, but to thrive and have a meaningful retirement experience. Retirement management goes beyond simply planning and is concerned with more than just financial and insurance concerns. The POISE process provides the framework for succeeding in the new retirement. POISE consists of: Personal, Others, Income, Savings and Evaluation.PersonalWe need to create a vision of retirement, determine how we see it played out. Our vision is then supported by goals and objectives. We need to keep physically, intellectually and creatively active to stay healthy and delay disability. Our personal vision, goals and objectives help establish the first part of our lifestyle expense and begin the process of managing our retirement.OthersWe get meaning in our lives from how we interact with other people. Our legacy is determined by what we do for others. We need to avoid isolation and loneliness. The social aspect of retirement complements our personal goals and sets the foundation for achieving happiness in retirement. Our social activities form the second part of our lifestyle expense.IncomeOnce lifestyle is decided, we can determine how much income we need to maintain it. We look to our key sources of income; pensions, Social Security and personal savings to get a comfort level on whether we can sustain our lifestyle. Then we need to assess how our vision plays out over time and how this affects future income needs. With our income needs determined we can develop our investment and savings goals.SavingsIn retirement our nest egg becomes our lifeline. We no longer have a paycheck to bail us out of unanticipated expenses or financial miscues. Sensitivity to losses heightens. We need to be smarter about the risks we take on. We are now taking money out of our savings every month, not adding to it. Investment losses and withdrawals can deplete savings quickly. New thinking in the new retirement changes the thinking most of us followed through our working years. There is a new purpose to our money.EvaluationA plan put in motion that is not monitored quickly crashes. Traditional plans do not come with warning signs to alert us to potential problems. The new thinking adds gauges to our retirement dashboard to let us know when attention is needed. Performance reporting, expense analysis and goal tracking complete the retirement management process. POISE puts you in control and provides warnings and choices to meet changes that are certain to occur in out long stay in retirement.