Managing the Retirement Transition
You've been waiting for this stage of your life for a long time and it's almost or finally here: Retirement! Congratulations!! You've probably worked very hard getting here and you are looking forward to having the spare time to do everything you've been thinking about for a long time.
But are you as prepared as you might think?
Although retirement is a change many of us look forward to with great anticipation, it is still a major life change. With that comes a certain amount of planning that should be done. Generally, the first few weeks after retirement feel like a wonderfully extended holiday. You get to relax, sleep in, golf, have extended lunches, take a trip - do anything you want. Then what? Most people find themselves feeling restless, bored and perhaps a little disappointed that retirement is not all they had hoped for or expected.
It certainly doesn't have to be that way. There are many retired people who are thriving and pursuing many activities with a renewed sense of purpose, energy and passion. For them, retirement does not mean letting their days idly slip by. Some may be content to do this but most still have a lot of zest and vigor and still have much to contribute to society -sometimes more so because of their accumulated experience and knowledge gained through life.
Enjoying a Fulfilling Retirement Period
It starts with living life with purpose by making deliberate and conscious choices about how you will spend your time, energy and money. Following is a checklist of things to consider planning for so you can enjoy the retirement you deserve.
- Do you have a financial plan that clearly explains how much money you can expect to draw from your pension and savings, for how many years, and still live comfortably? Talk to a financial planner who can help you with this.
- If you have a partner, have you discussed explicitly where you would like to retire? Will you stay where you are, downsize your home, live south for the winter, re-locate? You would be amazed at the surprise some people experience when they discover their partner doesn't have the same retirement expectations. Speak often and be explicit with each other to avoid disappointment.
- How will you fill your days after the initial few weeks of down time? Will you volunteer, travel, pick up a hobby, join associations, work part time, exercise, attend school? Make a list of all your interests and take action to make them happen.
- Are there medical considerations you have that will influence you level of activity? What about medical costs? Do you know what discounts you are eligible for after a certain age? These are worth exploring with your doctor, pharmacist or financial planner.
These are just some of the few considerations for planning a fulfilling and enjoyable retirement.
Whether you want to live more simply or maintain a busy schedule, either requires thought, discussion and - most importantly - taking action so you will be ready when your much anticipated retirement arrives.
If you are interested in personal coaching to help you put a retirement plan in place or if your organization would be interested in a seminar for staff who are planning to retire in the next couple of years,
contact us at
Kor Capabilities Consulting for more information.