Fearing Retirement
An article in the June 2009 edition of Reader’s Digest titled “Do You Fear Retirement” (by Stephanie Whittaker) discusses 2 types of retirement attitudes and findings that as many as 40% of the workforce is afraid of retiring. Organizations specializing in counselling individuals and employers on how to plan for retirement indicate that “it can be an existential crisis for a lot of people”. This fear is based upon people identifying themselves with what they do and not in other ways.
The article presents a number of similar findings about the fear of retirement based upon research conducted by a number of individuals and organizations. People, whose main focus was on their career, can face more retirement trauma…..especially for those who are closer to the CEO level. Other people associate retirement with the final stages of life and thoughts of one’s mortality intensifies the fear. Some fear centres around spending more time with one’s spouse putting new pressure on the marriage.
For those who are self employed, the article indicates that these individuals tend to handle retirement better because they have been self-regulating in their careers – better able to deal with themselves and their emotions.
The article goes on to present 5 easy steps to help with the next stages:
- recline the lazy boy one notch at a time – avoid diving into retirement at the last minute – look for ways to ease into it – possibly explore working part time and use the new free time to explore your passions
- lay your cards on the table – have an honest discussion with your spouse what new life you see for yourself
- reach out – solidify existing family and friend relationships and create new relationships with people of all ages – exposes you to new points of view
- stay on the ball – stay involved physically and mentally with your prior lives and interests – keeps you mentally alert and up to date on things
- protect your health – take care of yourself – exercise, healthy eating, regular checkups, get enough sleep, relax
Begin the process of preparing for retirement when you are employed. The article suggests starting 5 years before your actually exit the workforce. Plan for the first 2 or 3 years and don’t lock yourself into a plan for the rest of your life.
Other retirement related articles exist at www.readersdigest.ca.
Lane@lifepast50