PREPARING FOR RETIREMENT

Retirement is an abrupt transition for most people. Without any preparation or intermediate process, we move from more or less a regular working day to a period of time without structure or objectives. Just as we get trained to obtain benefits from another stage of life, there really should be more programs, both public and within companies, to inform workers who are about to retire of the challenges they’ll have to face.

One starting point for planning for retirement could be to imagine oneself not having any set timetables nor pre-defined obligations. Putting yourself in that kind of mindset allows you to think about the changes you’ll have to adapt to, new goals to consider and how to seek solutions for any foreseeable difficulties.

Preparing also includes cultivating hobbies and friendships that can later be broadened, changing habits regarding the use of time and money, and gathering information on possible future projects or how to join a course or organization.

Retirement is, as is the end of any stage of life, an experience of separation and loss that sets in motion a process of grieving. It’s a readjustment of the mind in order to adapt to a reality that has been irreversibly transformed.

Not only will a way of life and relationships be lost, but also an important part of the self. Those who have put work or their career at the center of their identity and those who prefer more organized lives will be most affected.

Facing a new and unfamiliar stage

Therefore, people approaching retirement are often compelled to withdraw into themselves and revisit their past. This looking back evokes various feelings associated with their achievements, failures, mistakes and injuries suffered and caused. A realistic review of the past, integrating all these experiences, will bring continuity and cohesion to one’s autobiography. This connects the past and present and serves as a basis for charting new paths.

When facing a new and unfamiliar phase, a certain level of stress and various kinds of fears are also common: of feeling depressed or empty, socially isolated or irrelevant, of not being able to find stimuli in order to stay active in the new phase of life,. of suffering cognitive deterioration, etc.

These are misgivings that don’t necessarily mean there are problems, nor should they be rejected or felt with a sense of guilt, and they’ll gradually be overcome. They’re intertwined with experiences of another kind, such as an increased yearning for freedom and new desires and plans stimulated by all the possibilities of life that are now open to them.

Pre-retirement coping is also influenced by the path to retirement, age and economic consequences of a change in status. Early or involuntary retirement can produce an abrupt break in terms of loss of control and continuity of lifestyle and may be traumatic.

Leaving the workforce before the mandatory age implies stepping off the beaten path and is likely to generate feelings of guilt or bitterness towards the past employer. The psychological management of these feelings complicates the separation and may initially limit one’s perception of future options and the ability to draw up plans tailored to the new circumstances.

Taking some time off

It’s important to take time to process and accept all the thoughts and feelings that arise as retirement approaches. Ignoring or repressing them may upset other areas of one’s life and negatively affect mood or relationships. On the contrary, accepting them helps to build a sense of inner cohesion and the ability to find a direction to follow during this new stage of life.

Because the responses to change not only depend on acquired knowledge and the capacity to adapt, but also on an ability to refrain from reacting immediately and automatically to new stimuli, It’s advisable to be conscious of the personal impact of the step that is going to be taken before making meaningful decisions. And not to rush into them driven by impulses that may not always be fully considered.

Not having enough income to maintain an acceptable standard of living is one of the biggest concerns of those who are about to retire. Pensions can represent a reduction of up to 50% of previous income, and this figure is even worse for women. This uneasiness is further accentuated by the occasional freezing of pensions and their dubious future viability.

Many of the retirees I interviewed for my study (1) had foreseen a downturn in their finances and had boosted their savings in the years leading up to retirement. Only a few had sought the opportunity to continue working so as to improve their income. Those who were already retired set priorities and reorganized their spending to keep their finances in order, thereby ensuring their well-being.
Entering retirement with a motivating project boosts creativity, so it’s advisable to cultivate varied relationships and interests throughout life and to plan carefully for the new stage.

However, there are other variables involved, such as the desire to continue experimenting and learning. Transitioning into retirement while feeling that life continues to have meaning and that there are interesting relationships and activities to discover and expand upon are the best protection against disorientation and any nostalgia of what was left behind.

References

Text published in 65ymas: «Prepararse para la jubilación – por Bartolomé Freire (Doctor en Psiquiatría)»