Everyone Can”t Handle Retirement, Can You?
Due to the fact that retirement is such an abrupt, dramatic change, many people are unable to actually handle it.
Surprisingly though, financial issues are not the main concern; it”s the fear of losing the structure, sense of purpose and socialization that the work place gave them. Retirees who do not find a way to replace those aspects are usually in for a big surprise when retirement is not what they thought it would be.
Soul Search Before Not After
To avoid that same dilemma you may want to do some soul-searching before you make retirement your new beginning. Before retirement figure out the ways that you will channel the energy you used at work; otherwise, you may end up bored, lonely, restless and basically lost in retirement.
What Do You Want From Retirement?
First things first; define your retirement lifestyle. What will you want to do in the second half of your life. You will have plenty of time to just “hang-out” or to follow your passions. In retirement your time is all yours, you get to decide what to do with it.
Can You Afford Your Retirement Lifestyle?
After you”ve determined the lifestyle you want you need to determine how much retirement income you will need to achieve that lifestyle.
Make sure before retirement that your retirement investments are adequate enough to support you and your lifestyle for at least 30 years.
Be smart, realize that if you enter retirement overburdened by debt, your retirement income may not be able to support you. Delaying retirement until your debts are whittled down is not a bad thing.
Lost Without Structure?
Your workplace gives you a day-to-day routine, a schedule. If you have relied on that time management system for the last 40 years it may be hard to switch to no schedule at all.
Many retirees feel lost without their work routine and wasting time is easy. You need to create a new routine as soon as you possibly can to avoid getting yourself into a rut.
If your work gave you purpose you need to find a new identity in retirement. Overcoming an identity crisis is one of the hardest parts of retirement for some people. To get past it you will need to first recognize that you are more than your work.
Make New|Keep The Old
Many people close to retirement fear that when they finally retire, the relationships they built at work will end. The worry that they will not have anything in common with their work friends anymore. You may have to make the initial effort after retirement to stay in touch and then see where it goes from there.
It”s Your Retirement
The good part about retirement is the freedom you may feel once you”ve cut ties at work. The bad thing is you may not want to cut those ties. To make the best decision, do your soul-searching and research before you say bye- bye to your work place.