Retirement. It is often the light at the end of the tunnel after years of trudging through work week after work week, business meeting after business meeting. A break in the monotony of Corporate America. But what does retirement actually entail? It may not be all lounging in the pool and sipping fancy drinks as it is depicted on television. Retirement is a huge life transition, and comes with a series of its own issues.
Self-identity
Many people struggle with their self-identity, and consider their job or career a large portion of who they are. When you remove the career component, who is the person that is left? Many people become cogs in the corporate wheel, and believe that productivity defines their worth. But in life, productivity does not define your worth, contrary to what your manager or supervisor might imply. If productivity has been a defining factor in your self-worth, it is definitely something to process before taking the leap into retirement.
Finances
Another thing to consider before retirement is the financial element. You are likely used to a certain standard of living, but do you have enough saved or stowed away to continue that lifestyle for the next 25+ years? Budgeting for retirement can be starting a 401k or a Roth IRA. It can also be accounting for a pension or Social Security benefits. You may also have a partner who can contribute to the post-retirement finances and income.
What else?
If you and your partner are discussing retirement, make sure you talk about a few key points. When are you both going to retire? Where are you going to live? What do you enjoy? What do you want this part of our life to look like? The answers to these and many more questions can help retirement to be the joyful and relaxing version that we see in the movies.
If you can’t figure it out on your own, there are professionals (like us) to help guide you. You are still strong and valuable if you ask for help. Also make sure to check out our blog posts on stress and finding happiness in work, life, and relationships.
References:
Betchen, S. J. (2020, January 31). 4 Issues You Should Address Before You Retire. Retrieved from https://www.psychologytoday.com/us/blog/magnetic-partners/202001/4-issues-you-should-address-you-retire
Dholakia, U. M. (2019, September 9). What Role Should Work Play in Retirement? Retrieved from https://www.psychologytoday.com/us/blog/the-science-behind-behavior/201909/what-role-should-work-play-in-retirement
Shultz, K. S., & Wang, M. (2011). Psychological perspectives on the changing nature of retirement. American Psychologist, 66, 170–179.DOI: 10.1037/a0022411
Sreenivasan, S. (2019, February 15). Are You Ready For Retirement? Retrieved from https://www.psychologytoday.com/us/blog/emotional-nourishment/201902/are-you-ready-retirement