While some people dream of retirement, others have it thrust upon them through the loss of employment, quite a likely scenario anytime once you are over 50 years old.
In both cases a good retirement is dependent upon very careful planning that enables individuals to be in control of their lifestyles while in retirement. This in turn requires sufficient meaningful pursuits to keep the individual satisfied according to his or her interests to maintain mental and physical health, while being underpinned with a sustainable financial base. Retirement should be enjoyable with some purpose to each day.
There are many ways to retire so, a well thought out retirement plan is paramount to maintain self-esteem and to live a happy life without the burden of social isolation and financial worries.
Individuals need to develop clarity of purpose by identifying their needs, wants and capabilities.
There are many activity options according to the individual’s personal situation which can include:
- Obtaining part-time employment in areas of personal interest
- Creating a part-time business based on a hobbies
- Attending further education at U3A, TAFE or University
- Volunteering at a preferred charity using your core skills either in an operational area or at Board level
- Mentoring juniors in business or lifestyle
- Pursuing hobbies in the arts, sports, travel or other social arena
Typically and historically, there are three distinct phases to retirement.
- Impending future: managing the wind down from full time employment, including financial planning.
- The bucket list: listing and pursuing all of the activities unavailable during full time employment such as travel, recreational pursuits, house maintenance, time with family, and the learning of new skills.
- New way of life: having completed the wish list, settling into an easier, less frantic life based upon exactly what the individual wants to do, rather than has to do. For some this may mean pure self-indulgence while for others it may mean some kind of new past time but none will happen without planning.
Achieving a new part-time activity or entering a new organisation as a volunteer can be just as challenging as finding a new full time paid occupation or role.
In these rapidly changing times, as organisations adapt, retirees will need to be just as agile in adapting.
We are no strangers to the concept of Resilience, it is often spoken about in the context of coping with change in organisations and society. We all need to be resilient, this means we need to be very knowledgeable about ourselves.
This entails clarity about:
- who we are and our most suitable work environment,
- what we enjoy and are good at,
- what we have to offer to prospective employers or clients.
If we are clear on these issues, we can select roles and work environments that suit us personally; our particular skills, interests and attributes.
To do this we need clarity about:
- Our values: our values must match those demonstrated by the dominant party, (employer organisation, partners or clients). Without this match, one cannot maintain commitment and your best endeavours.
- The role.
- our track record indicates whether we can perform the role.
- Our career stage and aspirations dictate the personal purpose of the role.
- Our personality dictates the style and key focus of the role
- Our fit with the team; our personality and style cannot change significantly; we need to know what we need in our environment so that we can thrive. By knowing what we need, we can ensure we accept roles that suit us and hence we will be successful. For example, if you like working in an environment that has few surprises, then don’t join an organisation that is poorly organised. If you like to work with a boss who respects you, don’t get involved with a micro manager style of supervisor.
All three aspects must be aligned to our needs for us to thrive:
As the world around us changes rapidly in all aspects including societal communications, work roles, prevailing values and issues, international tensions and economic performance, we need to be able to assess available activities and choose those that suit us, not accept those that serve others’ agendas and do not accommodate us.
When we are confident about who we are and what we have to offer and why we want the role, we are more authentic to ourselves in meetings, interviews and negotiations.
This self-knowledge enables us to be ourselves with confidence and focus on what best suits us to perform well.
Having reached the Retirement phase of your life, you have earned the privilege to be indulgent and dignified in your use of your time.
Ensure you are doing things that please you, that make each day feel worthwhile and rewarding, whether it be achieving physical outcomes or mental peace. You decide want is best for you and then pursue those goals and activities.
If you know who you are, others will know who you are. Opportunities to thrive will then appear.