Most Baby Boomers need to prepare for the profound personal and life changes retirement involves.
Retirement has changed dramatically since your parents’ generation. Being ready to retire means much more than financial matters. It also means being mentally, emotionally and socially prepared for your later years of life.
People are living far longer and in far better mental and physical health. Instead of slowing down, they leave their jobs feeling ready to take on the world. They’re financially independent, active, and capable, write authors Ted Kaufman and Bruce Hiland in their book “Retiring?: Your Next Chapter Is about Much More Than Money.”
Yet, people are less prepared for the rigors of living during retirement. Although financial planning and knowing your “magical number” remain essential prerequisites for retirement, a successful retirement requires equal, if not more, attention to non-financial issues.
Addressing non-financial issues seemed to be the key to a satisfying retirement, but only financial matters seemed to get the necessary attention.
Most individuals approaching retirement have practically no real-world experience with what people actually do after they retire, not to mention how their lives change, so they ignore planning for retirement.
Those approaching retirement need to learn more about how retirees live day-to-day or what issues they face other than aging. They do not have much to go on.
Paying attention to fears, feelings, and relationships regarding retirement can be uncomfortable, and planning the next chapter of your life without a roadmap can seem daunting.
According to an experienced psychotherapist, denial is the likely explanation for people’s failure to plan for the non-financial aspects of retirement. Denial is people’s unconscious psychological defense mechanism to avoid a problem or issue.
However, successfully retired people describe retirement as a “new chapter” or “journey.” They see their retired life as a “new adventure.”
The fundamental questions to ask yourself include, “When should I retire?” “What will I do?” and “Where will I/we live?”
Also, you should think about how you will care for your body, your brain, your heart, and your soul, or, said differently, your physical, intellectual, emotional, and spiritual well-being, wrote Ted Kaufman, a former United States Senator from Delaware and Bruce Hiland, formerly McKinsey & Co. and was Chief Administrative Officer at Time Inc.
Source:
- https://www.nextavenue.org/retirement-is-about-much-more-than-money/
- https://bookshop.org/p/books/retiring-your-next-chapter-is-about-much-more-than-money-ted-kaufman/16291203
We need to start counting our blessings, be grateful, rejoice over the most minor matters, and enjoy the simplicity of life!
Also, it’s important to value human connection, the opportunity to add value, and the ability to help others realize their potential through small but thoughtful and intentional gestures.