A
tale of two retirees
“Tom” spent more than 35
years in the oil and gas industry and human resources for a large healthcare
organization. He retired at the age of 61. Today, he is active in the
community, can often be found on the golf course, and volunteers in various
ways, including at a local blood bank.
Additionally, he maintains
his fitness, visits family in another state, travels with his wife, and stays
busy pursuing activities he enjoys.
Thoughtful financial
planning, combined with an outline that guided him after leaving the workforce,
has allowed Tom to enjoy retirement on his terms.
“Larry,” in contrast, spent
nearly 40 years in the workforce, with about half of that time at a prominent
financial services firm. He now operates an Airbnb business from his home and
rents out his RV.
While he loves to travel,
Larry occasionally misses his profession’s routine and his colleagues’
camaraderie. He is often surprised by the abundance of free time he has.
Emulating
Tom’s success
When you were in school,
did you eagerly anticipate graduation so you could enter the workforce? Some
students move effortlessly from academics to full-time employment, while others
struggle with the transition as they trade the classroom for the workforce.
Ask any student. If they
are honest, most will concede there is an adjustment.
Today, you may be preparing
for another substantial adjustment—leaping from full-time employment into the
world of retirement.
For many, this shift may
bring forth unexpected surprises. The lack of identity, status, daily routines,
and goals can hurt self-esteem, leave you feeling directionless and even
contribute to depression.
If you aren’t careful, you
may find yourself transitioning from a structured environment to one of
excessive freedom, resulting in too much time and not enough activities to fill
your day.
Extended idle periods are
not the type of freedom envisioned when dreaming of retirement.
It’s easy to fall into that
trap, but here’s how you can avoid it.
Staying
active, fulfilled, and engaged
Extensive evidence supports
the relationship between longevity and social connections, and the importance
of maintaining physical and mental activity during retirement. What specific
actions will you take each day to address these needs?
When asked about retirement
plans, many often respond with common answers such as “spending time with
grandchildren” or “taking vacations.”
Traveling is exciting, and
spending quality time with the grandkids always brings joy. However, what else
is available between travel adventures and the joy of being a grandpa or
grandma?
Those who flourish in
retirement are engaged spiritually, mentally, and physically.
Consider setting new
objectives and revisiting interests and passions that you have held for many
years, even decades, but haven’t had the opportunity to nurture and transform
into hobbies and activities simply due to time constraints.
Begin by creating a daily
routine that incorporates time for your interests and hobbies that you enjoy,
and keep your mind sharp. If you don’t exercise regularly, consult your doctor
and develop a plan to stay active.
Local community centers
often offer retirement planning assistance, which can also be a great way to
connect with others.
Did you know that some
local community centers offer retirement planning assistance?
Ideas
to spark inspiration
Perhaps you can ease into
retirement by working part-time, allowing you to stay connected with your
profession while enjoying additional freedom.
Today, about 25% of
retirees engage in part-time work, while 73% of pre-retirees expect to work
after officially retiring, according to the Greenwald Research 2023 Retirement
Confidence Survey. Retirement is an attractive option for many. Others would prefer
a hybrid option: partial retirement while keeping one foot in the workforce.
Pursue activities you love
or explore something new. Have you ever considered:
- Learning a new language?
- Playing a musical instrument or
improving your singing abilities?
- Taking dance lessons or enhancing
your photography skills?
- Have you considered art and
painting?
Did you know that former President George W. Bush
took art lessons about four years after leaving the White
House? That’s right. The 43rd president is an artist.
Other ideas:
- Volunteer for causes that spark
your interest. You might consider Volunteer Match, which helps connect
volunteers with various organizations.
- Join a senior-friendly travel
group to safely and enjoyably explore destinations near and far. These
groups can assist with planning and provide companionship on your
journeys.
Final
thoughts
We hope to equip you with
inspiring ideas and practical steps to help you enjoy your retirement.
Developing a comprehensive plan enhances the likelihood of a smooth transition,
setting the stage for a fulfilling new chapter in your life.
