As a retirement and business coach, as well as a professional counselor, I know that retirement today is about more than financial security. In the old retirement model there were fewer years to plan for since people didn’t expect to live to be 90 or older. The focus was on protecting your money and participating in hobbies to pass the time. Since people are now retiring earlier and living longer, they worry as much about what they will do when they retire as how they will make their money last. Retirement is no longer an end, but a beginning.
The number one concern for pre-retirees is “What Will I Do?”. “Work has been such a priority, what will I do with myself when I retire?” Another primary concern is “Who Will I Be?” “If I’m no longer a successful professional, corporate employee or business owner, then who am I?” These are big questions that can be stressful to address, causing the fear, anxiety and confusion that often comes with life’s transitions. It can feel just like a mid-life crisis.
How do you figure out what you are going to do with the rest of your life? Start with reflection. Explore why you want to retire. This is the first and most important step in setting the stage for a creative and fulfilling retirement.
Here are a few questions you might ask yourself:
- Has something changed in my work life that has caused me to think about retiring?
- Has something changed in my personal life that has caused me to think about retiring?
- Is my interest in retiring coming from me or from an external source?
- Am I afraid that I am going to be pushed out or laid-off?
- Am I afraid that my business is about to be taken over by a competitor?
- Am I emotionally exhausted?
- Am I tired of having so much responsibility and pressure to perform?
- Does reaching my “retirement age” mean that I should retire?
- Am I missing out on whatever else life has to offer?
“Why” you are considering retirement will be connected to your feelings which will likely be a mixture of excitement and fear. Nobody makes this change without some degree of fear and it is important to recognize this fear so that it does not rule your decision making process.
The next question to explore is, “What will I do?” Before you retire or semi-retire, you might try spending more time participating in a hobby or interest and evaluate how that feels or impacts your life. You can also try a new activity or take a class. Spend some time with people who are retired or semi-retired. You can get ideas from talking to and observing other retirees and start building a circle of retired friends and acquaintances.
It is important to have an action plan, to be executed in baby steps, before you take the leap into retirement. Slowing down the pace of your work life before leaving can be very helpful for making a successful transition.
Going from thinking to doing takes time, planning and experimenting. There are many aspects to consider and many questions you will need to ask and answer. Some answers will be easy and others will require research, reflection and reaching out for help.
Today’s retirement lasts longer and can mean forging a new identity by refocusing your interests and energy in ways that provide more fulfillment, purpose and passion. Preparing for retirement in a smart way will help you ease the transition into this new phase of your life.
I specialize in helping people transition into semi-retirement and full retirement.
Call me for a complimentary consultation. I’d love to help you!
MarGO!
Blog post written by Margo Geller and Debra Livingston
