» About Retirement

Retirement Vision

admin — Thu, 09 Jul 2009 14:30:36 +0000

What do people expect life to be like in retirement? For many it is seen as a period of
opportunity and options; a time to get on with fulfilling dreams; a window of opportunity characterized by more time, less responsibility, financial security, and the freedom to
embark on new adventures. Clearly, people can continue to be productive and creative, and to grow intellectually for a number of years. Reflect on their vision for their future
and write a brief description of it in the space below.

Keys to Retirement Success

admin — Thu, 09 Jul 2009 14:29:00 +0000

 People should accept the reality that their career is behind them and look at what
lies ahead.
 They should have a clear vision of the life they want to pursue and work toward
achieving it.
 They should try to get involved in something worthwhile and continue to grow
knowledge, skill, and understanding.
 Should maintain their health so they can remain independent and continue to stay active.
 Develop and maintain supportive relationships among family and friends.
The answer may lie in planning. Some retirees plan activities and events to maintain
their excitement and motivation. Others with the same opportunity have no special
events to fill their time and stretch uninteresting tasks just to get through the day.

Slowing Down

admin — Thu, 09 Jul 2009 14:27:44 +0000

Slowing down time is inevitable factor of retirement life. It is a period of shedding
previous demands, learning to say no, and mellowing out. It is time to throw off
pressures and think more of themselves. Staying home with simple pleasures may start to become as enjoyable as participating in social events or accepting strenuous outside involvement. Some of this occurs because of lower energy levels, some by preference. Some individuals are happier in this phase than the prior one. These retirees do not like too much activity and when they start slowing down, they enter a comfort zone that provides more fulfillments, not less. Often one life partner reaches this stage ahead of the other. This phase can last as long as the prior phase, and sometimes longer. Self-pacing and involvement balance seem to be the keys. People do not want to slow life down to the point where things begin to drag; on the other hand, anxiety is more difficult to handle. Often after making a commitment to do something strenuous, doubts appear. Of course, to the energetic retiree still in the middle of active living, a slower, more balanced pace may seem boring. Once there, these same people might think differently and appreciate their new comfort zone. The danger in this phase lies in misunderstanding just what balance means. For example, it does not mean a drastic change, but a slower, softer approach that retains some of the activity blended with more quiet times. Achieving just the right balance is an individual matter. Some can handle considerable social activity outside the home; others need only a sprinkle of the outside world to enhance their home-centered comfort zone. It can take a few years to reach a satisfactory balance because people keep frustrating themselves by trying to return to active living instead of relaxing and enjoying the new pace.

Active Living

admin — Thu, 09 Jul 2009 14:26:41 +0000

This is the time to achieve their retirement “thing,” whatever it may be. Did people harbor a retirement dream during their working years? Have people always wanted to
do something but their career prevented it? If so, now is the time to fulfill old dreams
and create new ones. These are days of excitement, achievement, and risk-taking.
People may not be able to get up the head of steam they could 20 years ago, but there
is little out of their reach. Their battle cry should be: “Make the most of this period.” If
their plans suggest people should dip into their retirement nest egg and they do it. Almost everyone has one or more goals to fulfill during retirement. Although some
goals (trips and so on) may be completed during the transition period, major projects are often best delayed until people have “found themselves’ and feel comfortable in this phase. People who enter retirement without goals usually drift until they find something to fill their time—and thus miss the boat because they spend their time doing unfulfilling and boring things. Sometimes, however, people find a person who enters retirement without a goal but discovers one that turns out to be a lifesaver. Most commonly, goals fall into such categories as consulting or part-time work for others, significant volunteer involvement, starting a small business, serious creative pursuits, and lasting hobbies. The range is as broad as the range of retirees themselves and once started, many surprise themselves with their success and enthusiasm. Most retirees know that this phase provides the big opportunity for fulfillment in the more active pursuits. Later, some scaling down may be necessary. It is a period when late bloomers (those who may have been restricted in their work years) come into their own. Under the old-fashioned concept of retirement, all years were to be “mellow” and “golden.” Today, the early years are full of action, involvement, and accomplishment.
Due to earlier retirements, better financial planning, and medical advancements, some
retirees are successful in stretching this phase to 20 years. But sooner or later (often
depending upon one’s health), one is willing to think about moving into the next phase. When people hear someone say, “I’ve accomplished my major retirement goals,” People may be getting a signal that this phase is drawing to a close. This does not mean that the next phase will eliminate travel, fulfillment, and laughter. It is just that the goals often are more modest and schedules less hectic. There will be different goals and different dreams in a different comfort zones.

Transition

admin — Thu, 09 Jul 2009 14:25:25 +0000

Retirement is a transition from one life to another. At the beginning it feels like a better time, but major adjustments may be necessary later. Sometimes it is stormy at first, but once people find a new role and identity, retirement, living is safely under way. Few retirees move into retirement without going through some difficult times. Leaving a full-time career and adjusting to leisure activities, finding a part-time job or volunteer involvement, or embarking on a personal creative adventure is a far cry from preparing for an extended trip or vacation. The old ego satisfactions are gone. The routine is gone. The security of the regular paycheck with all the benefits has been replaced with a new system. The old door has been closed and a new one needs to be opened. A new identity needs to be found. A minimum of one year is usually required for an individual to make a safe passage into retirement. Sometimes it takes three or four, and a few never make it at all. This happens when one opens a new door (retirement) but refuses to close the old door (previous work) and winds up in limbo, often returning to full-time work and the possibility of a second retirement attempt down the line.
To make their transition shorter and more comfortable, here are five suggestions they should follow:
1. Realize that a honeymoon is just a honeymoon and cannot last forever. When it is over, expect a time of uncertainty, doubts, and disenchantment.
2. Leave all excess baggage from their previous work experience behind.
3. Anticipate some rocky days and devise a strategy to lessen the discomfort people may feel. Regular exercise can be a big help. If people are making their passage with a
life partner, talk openly about transition problems so people can reinforce each other.
5. If it is not already under way, do a better job of retirement planning by anticipating and preparing for four phases, instead of one. Where possible, know what people will do and what people want to be before people retire, then they should be aware that it is
important to find their own comfort zone in each new stage. Retirement is never the same for two people.

Phases of Retirement

admin — Thu, 09 Jul 2009 14:13:56 +0000

Most people face retirement with apprehension. Some have such deep-seated fears that they extend their working years indefinitely. One reason this happens is because people see retirement as a fixed, linear period that offers decreasing fulfillment, instead of a succession of states, each with special opportunities. The phases cannot be clearly separated and overlaps are to be expected—but knowing there are opportunities for fulfillment in each stage gives retirement a new, more exciting perspective. The bad news is that digging out the rewards may become more difficult as people move on to
the next stage; the good news is that they may be enjoyed and appreciated more. When considering their retirement years, one needs to keep these factors in mind: There is no such thing as a completely predictable retirement. People are more individualistic during this part of their life cycle than in the youth and adult periods.

Retirees are free to stretch or shorten some phases and eliminate others. Obviously, it
would be unacceptable to prescribe or even suggest a retirement lifestyle for another. With health as the Joker in retirement planning, no specific time periods can be assigned either to retirement as a whole or to the separate phases. People are invited,
however, to predict time periods for them. For example, people could go to a mortality
table where annuity experts predict (depending on their age and sex) how many years
people can expect to live. If the table should say 30 years, people might anticipate three years in transition, 15 years in active living, 10 years of slowing down, and two years in
assisted living.

Attitude is the psychological factor that stacks the deck in favor of a longer, more fulfilling retirement. To develop a positive attitude, anticipate getting the most out of each stage as it arrives, then recognize that each phase has its own inventory of pleasures and rewards. People must be determined to squeeze as much out of each
phase as possible. With this kind of attitude, opportunities multiply in each stage, and
with good health, it is possible to live up to their highest expectations.

Requirement for Successful Retirement Life

admin — Thu, 09 Jul 2009 14:12:47 +0000

If we want to retire soon, we need to plan to ensure that our future is truly golden. A
meaningful, fulfilling retirement requires three basic ingredients: adequate financial
reserves, good health, and emotional adjustment. Our financial well-being will depend
on our financial reserves, pension benefits including pension scheme, and lifestyle
needs. We can determine our financial well-being by inventorying our current reserves; developing a post-retirement budget that allows for the estimated impact of future
inflation; and assessing our ability to make the necessary additions to savings to meet our needs.

Our physical well-being will depend on hereditary factors, where we live, how well We
have maintained our health, and their commitment to their future health. Eating and exercise habits and substance abuse can be assessed and their impact on their future well-being determined. Longevity is determined by heredity, lifestyle, and environment. Clearly, people can make a difference. Their emotional well-being will depend on how well people make the transition from work to other activities. This includes developing a new personal identity apart from their career, leaving colleagues behind, making new friends, developing positive relationships with family members, and getting involved in activities that maintain and enhance their self-esteem.