Preparing for retirement without anxiety

NEW YORK (FOX5NY.COM) - In 20 years, Andre George will be of retirement age. His attitude? Bring it on. He said he has done the research and plans to max out his contribution to his company's 401(k), and more.

But many other Americans have tremendous anxiety about retiring and life thereafter.

New York-based career and life coach Irina Popa-Erwin said people tell her they are worried about not having something to do in retirement. She said that people look for purpose and significance in their lives and they don't know their next step.

For many, anxiety over retirement centers around being able to sustain oneself financially. A recent series of studies by AARP NY found fiscal security to be one of the biggest causes of retirement insecurity.

AARP's Reggie Nance said that a lot of retirees are afraid to truly look at their finances. He said many people are worried they won't even have enough savings to retire so avoiding a stressful conversation is easier. He said that AARP urges Americans to get over the psychological hump.

As life expectancies continue to rise in the United States, many experts say the best time to retire is when you are mentally, physically, and financially ready to do so.

Those experts caution that whatever you do, don't view retirement as the end. View it as a beginning. For example, retirement could be the start of a new career or a new business or world travel, Nance said.

Popa-Erwin echoed that sentiment. She said that if you have ever said to yourself "I wish I would've done this or that" then do it—it is not too late. She said being in your 50s or later is not too old to use your wisdom and experience to pursue something new.