Like any other transition, retirement presents some unique challenges. Though this is a major life stage, there isn’t usually much discussion about the emotional challenges of retirement. However, in the end, knowing how to deal with retirement emotionally can be just as important as financial preparation.
How Many People Experience the Emotional Challenges of Retirement?
Most people spend the majority of their lives working to cultivate a career and family. It’s human nature to take comfort in the daily routine that you begin to develop, but when you reach retirement you may find that it takes some time to get used to your new life after leaving the workforce.
If you plan accordingly, adjusting to retirement can be a fun experience.
If you find yourself having a hard time adjusting to retirement, you’re not alone. A recent survey of 1,000 people ages 60 to 73 shows that about two-thirds of Baby Boomer participants said they had difficulties in transitioning from their primary profession to retirement. The survey also identified the top reasons that participants had trouble adapting to life in retirement:
• 37% said that they missed the daily social interactions they would have with work colleagues.
• 32% had trouble adjusting to a new daily routine.
• 22% found it difficult to find ways to create meaning and purpose in their life after work.
The good news is that eventually more than half of the participants found that they adjusted to these changes rather quickly, and 97% reported being “somewhat” or “rather” satisfied in their retirement. The key to adjusting to these life changes and living a fulfilling life after work is emotionally preparing for the transition.
Retirement is the perfect time to find enjoyment and fulfillment in the things you’ve always enjoyed.
4 Ways to Deal with Retirement Emotionally
Though retirement is often seen as a time to slow down, this doesn’t mean that you can’t continue to remain active or find meaning outside of your professional life. Here are some tips for coping with the emotional challenges of retirement:
1. Find activities you enjoy outside of work.
Retirement is the time for you to do the things that you enjoy most. Volunteer your time at your favorite local organization or take up a new hobby. Staying active is a great way to find meaning in life after work.
2. Begin to expand your relationship base.
Chances are, many of your friendships were formed in the workplace. Though it’s great to keep in touch with former colleagues, try to develop new friendships. Friends are the key to staying connected and maintaining your well-being.
3. Include your family in your pre-retirement plans.
Once you’re retired, you will have more time to spend with your spouse. Actively include him or her in your pre-retirement plans. Have a conversation about what you would like life after retirement to look like and discuss how you can help support one another.
4. Have a solid financial plan.
Not having enough resources to support yourself after retirement can add stress to your life. One way to make sure that you are emotionally prepared for the transition is to make sure that you have a financial plan in place that provides a quality of life for yourself in retirement. Find out if you have a strong plan by using a retirement calculator or talking with a financial advisor.
Change is exciting and can be positive if you’re prepared. Set yourself up for a fulfilling retirement by anticipating the emotional adjustments that come with this new transition and arming yourself with successful strategies for meeting these challenges head on.
