Dealing with a bear market after the trials and tribulations of the past 3 years may have you feeling like you are being punched while you are down. Many of us are feeling burnt out and are wondering when the punches will ever end. 

In this episode of Retirement Answer Man, we’ll discuss how we can deal with this issue. Kevin Lyles joins me in the Coach’s Corner to offer his perspective on dealing with burnout. I’ll also answer some fantastic listener questions that range from how to decumulate during a bear market to how to plan for retirement with a disengaged spouse. Don’t miss this episode especially if you feel like you might soon be down for the count. 

It seems like the world keeps punching us while we’re down

The past 3 years have dealt us one blow after another. Covid took us all by surprise in March of 2020 and was followed quickly by the fastest bear market in history, a total economic shutdown, quarantines, work-life disruptions, and so much worry about our health and the state of the world. 

2021 wasn’t much better with the political polarization of the election, Covid’s continuation, mask and vaccine questions, and more

2022 brought raging inflation, rising interest rates, war, and worldwide instability. And still, Covid rages on. 

Our normal rhythm of life has been disrupted. Without that rhythm, it's hard to create stability to ground yourself. No wonder so many of us are feeling burned out. We have more than our fair share of dents in our armor. 

Incremental changes are often the best course of action

It makes sense if you are feeling worn out, but how you respond to these stressors is important. It may seem like drastic action is the best action to take, but during challenging times, often incremental changes are the best course of action. Small changes can help you avoid major unforced errors.

You may want to take a cue from Muhammad Ali and take the punches while you are pinned against the ropes and conserve your energy until you have the opportunity to react.

Steps you can take to deal with burnout

If you are feeling the effects of the past 3 years weighing down on you conserve your energy and then see if you can take these steps to take action.

1. Acknowledge what you have been through. Give yourself some grace for all that you have suffered.
2. Bring past successes to mind. You have the capacity to get through hard things. Think about your past experiences to remind yourself of your resilience.
3. Reexamine those around you. Search for people who are doing what you want to do. You won’t be able to follow their exact path, but you could find ways to integrate some of their strategies into your life. Walk with the wise to become wise. 
4. Surround yourself with support. Surround yourself with people who encourage you and are supportive of your journey. This includes your network of friends and acquaintances as well as the media you choose to consume. 
5. Build the confidence to punch back. Take care of yourself and your energy. Simple self-care is important when you are getting pummeled. Exercise, practice gratitude, and help others. Self-care will help ground you when you are burned out. 

Make sure to check out next month’s series on how to build a heroic retirement. Don’t forget to reply to the 6-Shot Saturday newsletter if you have any advice for Anna on planning retirement with a disengaged spouse. 

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

• [1:30] We have all been taking a beating over the past few years
• [7:23] Rhythms ground us
• [11:25] Steps to take to deal with burnout

LISTENER QUESTIONS

• [19:38] Should I reallocate during a bear market?
• [28:50] How to decumulate during a bear market
• [34:17] How to decide between taking a pension in a lump sum or monthly payments
• [38:46] How to deal with a disengaged spouse

COACH’S CORNER WITH KEVIN LYLES

• [46:21] Reframe your negative thoughts to find a positive outlook

TODAY’S SMART SPRINT SEGMENT

• [55:14] Acknowledge how much you’ve been on the ropes this year

Resources Mentioned In This Episode

Boomer Benefits - check them out at no cost to you!

BOOK - The Expectation Effect by David Robson

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement  by Roger Whitney

Roger’s Retirement Learning Center