It is real, it exists. It doesn’t come from the black lagoon of the Amazon, it comes from the black lagoon of one’s mind. It is fear of retirement.
Fear?!
I have experienced this phenomenon in more than one way.
The Future of The Past
Firstly, early in some of my working years, I would fret, or even panic, with the thought of not working. I was overwhelmed with the idea. What on earth would I do if I ever retired? When I look back now, I recognize that feeling in a large result because, at the time, I was so totally fixated on working. I identified myself almost totally by my job, my career. So, no wonder I would find myself uncomfortable with the thought of not working.
Things changed, and even before I stopped working. I stopped living in fear. While I was unsure how I would feel when it came upon me, now more than a year in, I see my retirement as more of a happy time than anything else. My time is my own, my goals are what I pursue, my social time is with those I prefer to be around.
And Then There is Now
More recently, as mentioned, I have been working two days a month since my official retirement. Returning to the office setting on those days brings me in contact with my co-workers, some of which are at or near my own age. Their first questions were “How is retirement?” and “What do you do all day?”
The reactions I see in their eyes tells me something about their thinking. But when I tell them I recommend retirement, and that they should consider it, their reaction is most telling. Mostly it comes to: “Oh, No! I am not ready,” or “I still have children in college.”
Are some fearful of retirement? It sounds that way to me sometimes. I try to see if they are interested in continuing the conversation, and if so, I happily tell them how I look at it: “It’s important to have things to do, and goals.” With that remark, it seems they veer off the topic with alarming rapidity. Do they think retirement is a black void, a personal black hole, that will swallow them up whole, never to be seen again?
Some Are Not Happy
A survey conducted by The Harris Poll found 26 to 27% of current retirees say that life is worse in retirement. More than half of reasons reported were related to finances. The survey was conducted on behalf of Nationwide Financial and is available here.
Manage Expectations
We can and should prepare. In fact, we must prepare. Launching into retirement without preparation seems foolish. So don’t be unprepared. But the best way to prepare is to begin “preparation” years before the actual retirement date. How to do this?
How To Prepare
**Get a handle on one’s finances.** Make a list of one’s income and expenses. Make list of one’s assets and liabilities. Can we increase income? Can we reduce expenses? Can we reduce or eliminate debt? Can we increase savings and investments? Reducing and eliminating debt lowers stress. Increasing savings and investments can make financial conditions easier.
**What Are One’s Interests and Responsibilities?** Having goals and things to do is important in retirement. There is nothing more depressing than a bored retiree. So get busy realizing what one wants to be doing once work ceases. Are there goals or hobbies to pursue? A new interest? Groups to join or increase commitment to? Or perhaps there are family members needing care. Or are you looking forward to travel? Look how you will spend your time.
**What Opportunities Are You Open To?** Local organizations provide many ways to be active. And activity is what keeps a retiree healthy. Get out there. Don’t vegetate.
Eyes Open, Please
While it is hard to prepare for an experience we have never previously encountered, the more aware we are of our situation and condition, likely the easier it will be.
Fear of retirement is often the result of being unable or unwilling to think about it clearly.
What do you think? Have you experienced or know someone who experienced fear of retirement? You can send a comment here.
The illustration by Utagawa Hiroshige is in the Rijksmuseum, Amsterdam, The Netherlands.
The illustration by John Drayton, and the illustration of the Toddy gatherers are from the The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Print Collection at the New York Public Library.
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