What to Expect When You Retire
What is Retirement Like?
The truth about retirement is that it is different for each person depending on
- when they retire,
- how well they have planned,
- how healthy they are,
- how well they adapt to their new way of life and
- whether they have been able to maintain old relationships an/or create new ones.
However there are stages that people go through that are quite similar.
Retirement actually begins about a year before the big day.
This is the time when people check to make sure their investments, pensions and Social Security incomes will be enough for them to live on after they start working.
It is also the time when they have to decide about health care plans and make sure that they time things correctly because a mistake can end up costing them plenty.
Here, too, is the time when they have to decide whether they want to stay in their homes, downsize or possibly move to a warmer climate or even another country.
In short, there are very serious decisions people have to make, some of which cannot be changed once retirement takes place.
The first stage is often a scary time for people because they suddenly realize that they will no longer be getting a paycheck and worry about what will happen if they outlive their money.
They also realize that many of the relationships they’ve had with colleagues are pretty much over. Some will try to stop by their old place of employment for “old times sake”, but before long they realize that they no longer belong there and stop going.
This gives many the feeling of being “cast out” and sometimes leads to depression and feelings of isolation.
Another problem is that they no longer have a set daily schedule and instead of being told what to do by their employers, now have to make decisions on their own.
At the same time they realize that they are free to do as they like and, health permitting, begin to join groups or make travel plans.
The honeymoon stage is confusing for many at first, but eventually they understand what is happening and begin to think about what they want to do with their lives.
- Some are at a loss and never get any farther along than reading, watching TV and going out to eat.
- Others start doing volunteer work, babysitting for their kids or taking up a hobby such as golf or RVing.
Much depends on how much money they have and how healthy they are.
Generally, those who leave their jobs at an early age and who have planned well are able to do many of the things they’ve dreamed of doing over the years.
Older retirees may be able to do these things also, but they find that they have less time due to health and financial issues.
As a result, they do what they can while they can, and often have a great time.
One couple I know has been retired for two years and has taken at least 10 major vacations to exotic places such as Africa, Russia and China. It is as though they are rushing to do everything all at once while they still are physically able to do so!
Once people have entered into this phase of retirement, they pretty much know their situations and adapt as needed.
Many have lost their spouses but realize that they can’t depend on their children to fill the void.
Health problems have begun to pop up that can be financially and emotionally devastating, especially for people who do not have good health insurance coverage or a decent support system in place.
As time goes on, retirees often lose spouses and friends and become disabled to the point when they must give up their homes and move to supervised living facilities where they will spend the rest of their lives.
The Lucky Few
What I just described is an overview of what might happen, but is not what always happens.
Some people live long, relatively healthy lives and are lucky enough to have spouses, relatives and friends with whom to enjoy them.
They also have good relationships with their kids that stimulate them and add structure to their lives.
Many have hobbies, are able to travel and generally can still enjoy life.
These retirees are the lucky ones, but there is no rhyme or reason as to why they’ve been blessed this way.
What Makes the Difference?
Clearly, any thinking person wants to become one of the “lucky ones”, but the truth is that there are no guarantees that any person can achieve this goal because many who
- exercise and eat properly still get Alzheimer’s, Cancer and Arthritis, and
- save, invest and plan well financially still lose everything due to illness, divorce and lawsuits.
So it appears that doing a good job of nurturing loved ones has provided them with a good support system and “luck of the draw” is what has helped them do well physically and financially in their later years.
The Real Truth
While TV ads and retirement magazines would have you believe that life in retirement is fun this is only true for people who planned well, are financially secure, have productive social lives and are relatively healthy.
For most, retirement represents a gradual decline in health that continually limits their ability to be independent and do the things they’d like to do.
It can also be lonely, depressing and boring.
You can only take so many trips or read so many books, but after that, you need to find some way to fill your time.
- Those who are able to do this via part time jobs, social clubs or volunteer work usually have good retirements.
- Those who begin to live aimless lives where they basically do nothing but buy groceries and watch TV don't do well.
Thus the way to avoid problems that come directly from the act of retiring is to plan well and stay as active as possible.
The Bottom Line
As you can see, what happens in retirement can be quite different from what you may have envisioned.
Some people like to blame poor health on the fact that people retired, but the truth is that health problems are a normal part of the aging process.
If you are lucky enough to be able to retire early, you can enjoy travel, adventure and many of the activities you have dreamed of, but the longer you wait, the less this will be true.
It all boils down to the fact that you have to make the choice between sacrificing when young or doing without when old.
This is not an easy decision, but it is an important one because it will determine the quality of the life you have in your later years.
The best answer is to find a balancing point that allows you to enjoy your life as much as reasonably possible on both sides of retirement.
Hopefully, you’ll be able to do that.
Do you now think it might be a good idea to start planning for your retirement?
Questions & Answers
© 2017 Sondra Rochelle