It’s been nine years since I retired from paid work. I did an informal survey of my friends and relatives who have also retired. I asked people what suggestions they had for preparing for retirement and now that they are retired, how are they feeling about it?
Preparing for retirement
- Do your research–if available take retirement planning sessions through your workplace, talk with people who have retired, get information from your bank or financial advisor about the financial impact of various options, for example if you retire early or if you were to reduce your working hours before retirement
- Try it out – consider reducing your work hours prior to retirement or if your employer allows, bank your days or take a leave for a few months to test out what it is like.
- Develop your hobbies/interests, social contacts, volunteer and recreational activities before retiring so you have a focus for your time after retirement. Include activities for physical, emotional, spiritual and mental health.
- Develop a realistic budget for your time, money and energy.
- Plan ahead for next phases when things are sure to change (your health or family member’s health). Ensure your will, Enduring Power of Attorney and Advance Directive are legal and current.
One individual said, “If you are able financially [to retire], do not wait. Do it when you still have your health and facilities. Life is too short.”
Transitioning into retirement
After I had announced that I was retiring, I had some moments wondering if I had made the right decision. I was 67 when I retired. Would I have enough money to live on? Would I still have fulfilling activities to replace my work activities? I also felt like I had lost my position already and people were making plans to replace me! It was hard to accept that retirement was happening. Perhaps that was the hardest part–acceptance that I was letting go of my “role” for which I had worked hard and established a career from. Would there be something to replace it in the future?
I find there has been much to fill my time. Be patient and kind to yourself. Give yourself time to make the transition and for your friends and family to transition with you.
One person advised, “Unplug slowly. Being able to do some projects for the former employer after you retire is a great benefit. Just don’t plan on doing it too long–it may inhibit others from stepping up and the context changes, making some advice obsolete.”
Something I’ve noticed after retirement and being an older person is that business and government workers may have a tendency to ignore your opinions or be condescending or not even be aware of your presence. My son says it’s because I’m short and service counters are often quite high. It may be true… and maybe I’m being overly sensitive, but older friends have noticed this as well.
That aside, everyone I heard from loves being retired, as do I!
Making your time and talents count
- If you’re able, volunteer your time and remember that your experience and skills are valuable and our community needs them. Pay it forward.
- Keep your mind active by including people of all ages and different cultural perspectives to gain new insights and knowledge. Take in inter-generational, multicultural and Indigenous events.
- Keep a journal to reflect on what you are learning, dreaming and doing. As memory becomes less reliable, it’s a good way to keep track of your happy/sad times.
- Learn something new (like pickleball or meditation or sign up for the Indigenous book club at the library). Go for walks, canoe or partake of recreational and social activities during less peak times.
- Take advantage of restaurants that offer senior discount lunches and get together with your friends.
Words of wisdom from elders and retiree
One person said: “Aging takes courage as the inevitable life losses emerge [like] illness or injury; loss of cherished friends, family, pets; declining physical abilities; perhaps changing financial circumstances; forced moves of home, maybe even leaving the Yukon for various reasons [and] facing end of life with truth and bravery as much as possible.”
Another retiree said, “Retirement is a chance to connect more with the Earth and to soak up the beauty of the universe. It’s a spiritual time.”
In today’s economic situation, I recognize that it is a privilege to be retired and to have pension funds to cover my living costs. How can we create a society in which it is possible for all to experience restorative times at points in our lives?
Perhaps we’re all overdue for a rethink of retirement, so that we all can enjoy aspects of it throughout our whole lives.
I hope you find time for “retirement” moments this summer.
