You’ve either been looking forward to this moment or dreading it. Either way, retirement is a major life transition. Whether you’ve planned for it or have chosen to wing it, below are some things to keep in mind as you get ready to embark on this new life chapter.
Consider your Finances Before Retiring
If you haven’t looked at your bank account, investments, or pension for a while, don’t delay. You want to make sure (at least as much as possible), that you will have enough money to live comfortably – whatever comfortable means to you. If it turns out you might end up being a bit short of funds, you might need to consider taking a part-time job. If you have an accountant and/or financial advisor, setting up a meeting with them pre-retirement is a good idea as they can offer you some helpful financial advice.
Do you Have any Hobbies/Interests to Keep you Busy once Retired
Over the years, I’ve seen many newly retired people realize that because they worked so long and hard throughout their lives, they didn’t make the time to develop hobbies or engage in the activities they loved when they were younger. It is important to consider what you will be doing during all those hours when you used to be working, Hopefully, you do have enough fun and/or meaningful activities to engage in, but if you don’t, this is a good time to think about what you might like to do with your time during this major life transition.
Relationships with your Partner may Become Stressed when You Retire
If your partner doesn’t work, then he/she will need to adjust to you being around the house more - unless your retirement activities keep you very busy and away from home a lot. If your partner is still working, then will he/she have new expectations of your contributions around the home? If so, are you okay with those? Do you have expectations about the amount of time your partner will spend with you, especially if you’re home a lot? New expectations on both sides can cause disagreements so the two of you should make sure you’re on the same page and if not, talk about where compromise is needed.
Are you and Your Adult Kids on the Same Page about your Retirement
If you have adult children or grandkids, you may be thinking that now you can all spend much more time together such as every holiday and every summer/winter vacation. While that might be your wish, it might not be theirs. Do you want to spend all holidays and summer vacations together. Do your adult kids expect you to watch the grandkids now that you’re more available? If you’re okay with that, great, but if not, speak up. Do your kids want you to move closer to them or do you want to live closer? What would that look like for all concerned? Make sure you clarify all hidden expectations now, to avoid misunderstandings and bad feelings later.
Keeping Old Friends and Making New Ones, Once Retired
For many people, strong friendships develop in the workplace. The consistency of seeing the same people day after day, year after year helps fortify that bond. Once someone retires, it may become more challenging to keep up with those friendships, especially when former co-workers remain on the job. People might find they have to be proactive than before to keep those relationships active. There is now also an opportunity to forge new friendships by engaging in hobbies, volunteering, or part-time jobs. It’s important to make time for friendships, whether old or new, so that loneliness doesn’t set in. We all need to feel connected to others.
Retirement can be an exciting and rewarding time for so many reasons and in so many ways. There’s never just one way “to do” retirement. You worked long and hard to get to this stage and by considering some of the above tips, you’ll be better poised to get the most out of this next stage of life. Reach out to learn more with life transitions therapy.
