Are You Ready For Retirement?

You may have stepped away from the 9 to 5 already or are considering hanging up your office pass. Either way, full-time work is no longer the priority in life it once was and you’re glad of it. But are you ready for retirement and to stop working completely? In this blog, we take a look at what life post-retirement might look like and how to determine if you’re ready for it.

TIME

Your relationship with time will change. No longer will you be a slave to the alarm clock. Instead you’ll be able to make different choices about how you spend your time. 

Depending on how you choose to live life post-retirement, you may find you have too little time on your hands, or too much! For some it’s a real challenge to get that balance just right. Family may see it as a golden opportunity to invite you to pick-up more childcare duties. This may or may not be something you want to take on.  Other people in your life may also see your retirement as an opportunity to ask for your help on their projects.

Avoid responding to every request without thought just to keep busy. Of course you enjoy being busy and useful, but taking on too much, too soon may come with a cost. Instead, take some time to think about what you want and how you want to spend your time after retirement, before you actually stop working. Think about whether or not you want to help with your grandchildren or take up a new hobby. Decide which demands on your time will be meaningful to you. This is your time, and it’s okay to put your wants first. Getting clear on this will help you avoid being railroaded by others, no matter how genuine their intentions.

GOALS

Just because you’re seniors and no longer working it doesn’t mean you don’t have goals. Retirement is the perfect opportunity for you to begin projects you dreamed of doing but did not have the time to undertake. Don’t let these opportunities pass your by. Be serious in your intent and set some objectives, as you would a business plan. This will help you make sure you stay on track.

You may have to think about money a little more. It’s worth having a good plan in place before you step out of work for the last time, and to be clear on how much income you’ll receive each year.

Participating in a formal Retirement planning session or process may also help. It’s provides an opportunity to have your current situation, needs and goals assed by professionals. They’ll sit down with you and help you plan out your financial future, so you feel comfortable heading into the next stage of your life. Now isn’t the time to be playing guessing games when it comes to your money and health. It would help if you had facts, figures, and answers so you feel comfortable retiring and can have an enjoyable next phase without any worry or angst.  

MISSING WORK

Maybe you’re just not ready for retirement, but you want a change. Think about a compromise.  If you work for yourself, choose to take a step back and work a little less. When working for a company, consider changing to a part-time schedule or a consultancy.

If you enjoy your work, keep going, or consider an alternative career. Many people are turning their hobbies into an opportunity to add to their income from home. Perhaps your painting and decorating skills will give you a perfect way to work doing something you love.

If work has been a part of your life for a long time, as it has for many, it can be hard to imagine your life without it. If your fear is of being cut off from the world, then take your time to ease out gradually, while exploring opportunities to fill the vacancy once you leave completely.

Your job doesn’t define you, but it has given you a reason to get up in the morning for a long time. Life after retirement can bring you plenty of joy and motivation with a little advanced planning.

DOUBLE TROUBLE

If you have a partner, then retirement of one or both can affect your relationship.  The partner who continues to work will require the retiree to pick up more errands and chores at home. These changing roles can take a little getting used to, but being aware of the change and talking with one another about it can ease the transition.

The same applies if both retire. Routines change, there’s more “together” time, and competing demands on your time. This can be disconcerting and confusing for both of you. Taking time to talk about this before hand will help prepare you for what’s coming and help you avoid some of the pitfalls that may arise with a sudden change of lifestyle.

TAKE YOUR TIME

Making the decision to retire is not an easy one. You’ve worked all of your adult life and not working is going to leave a void. Take your time. Do a little planning and lots of thinking about what you want the next chapter of your life to look like. If you’re not under pressure to leave and your job isn’t a source of anxiety and stress, then move forward slowly.  The extra income will be helpful don’t the road.

But if you’ve have a desire to travel, to take on that DIY challenge or start your own consultancy, this is your golden opportunity. Make a decision that is right for you and your partner. Avoid being forced into it and make the most of your retirement years on your terms.

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NOT JUST QUOTES: Inspiration for the Ever-Evolving Women offers plenty of food for thought and includes reflection questions to help you through every transition. Take some time to think about what you really want and what you believe and make the next fifty, the best fifty!