Power Up Blog
Thoughts & Musings on Retirement
Do you have employees nearing retirement?
Fears related to change and feelings of uncertainty about the future can make the anticipation of retirement stressful.
As a strategic advisor specializing in life-transitions, with a focus on retirement, I work with individuals to create a purpose-driven retirement lifestyle plan. My clients see positive transformation in their lives as a result of the work.
No one has ever said to me, “I can’t wait to move into a long-term care home!” So I think it’s a safe bet to say that very few of us want to do so. e want to stay as independent as possible in our own home for as long as possible.
If you take care of yourself as mentioned in an earlier blog, you can hopefully push back long-term care needs well into your senior years.
Whether you will need long-term care or not, there is no doubt however, that long-term care is expensive. Has this been factored into your overall financial plan?
My health means everything and I am doing all that I can to be in the best shape possible so I can continue to have a great quality of life in retirement.
If you want to have great health in retirement, but you haven’t donned track shoes since your last gym class; you don’t eat well, sleep well, take time to recharge your batteries, are often stressed, or are generally in poor health, then you are at a crossroads and you have an important decision to make.
How do you want to feel and what do you want to do in the second half of your life?
Studies show that more and more retirees are either delaying their retirement past the age of 65 or going back to work. In 2015, StatsCan, found that 53.5 per cent of men and almost 39 per cent of women who were 65 reported working during the year.
Some reasons for delaying retirement past 65 or going back to work include - not ready to retire; don’t have enough money; bored; lonely; want to meet new people; want to keep busy; etc.
It used to be most Canadians shared an idea of what retirement looked like. You worked until you were 65 and then you punched your timecard and spent the rest of your days on the golf course, travelling the world or spending time with your grandkids. If you were lucky enough to have squirreled away more money, you might have quit your job five or even 10 years earlier than you planned.
In 2019, not so much. The definition of retirement is evolving and it’s now different for everyone. One person may be able to fully retire at 55 while others are working part-time after they’re 65.
Are you one of the 400,000 Canadians who will be retiring this year? Are you 2 – 3 years away from retirement but have many fears about your retirement or retirement in general? If you do don’t worry you are not alone!
Retirement is commonly an emotional time. Whether it’s missing the ‘comfort’ of a schedule, loss of structure and routine, dealing with the loss of work relationships, or losing a sense of purpose, it’s common for people adjusting to retirement to experience a range of worries and fears.
The impact of the non-financial issues like social and psychological factors plays a HUGE role in a successful retirement.
