Yes, your retirement can get shingles!
Here is a shocking contrast, “70 percent of pre-retirees think that life will be better in retirement, but only 40 percent of actual retirees find that it is.”1 That’s right folks! Nearly one-half of those anticipating a better life in retirement are shocked to find that it is not. Even more disappointing is thirty percent of pre-retirees expect life to be worse, and they say they were right in their assumption. Somewhere along the path of life, retirement caught a virus and the symptoms are unpleasant. Thankfully there are shots that can be given to prevent some of the infections stealing the joy of life post work.
Shot #1 – Clear Assumptions!
What are you going to do with this new found free time? Where are you going to live? Develop a clear understanding with your family about how much time is going to be YOURS, and where the time will be spent. These are but a few, but let’s examine their necessity. Is your free time going to be spent volunteering for your favorite charity? Are you planning to work part time? What happens if no one has an opening for 10:00 – 1:00 for three days per week and no week end responsibilities! How many have looked forward to a home by the lake, late morning breakfasts on the deck, and time at the golf course, but the grandkids live three hours away and the spouse wants to be at all their games and recitals? If our retirement is going to avoid becoming a beached whale, we must inoculate it with clear assumptions and specific plans.
Shot #2 – A clear understanding of how you fit in.
Retirement is a time of change. That cannot be avoided, but knowing where you “fit” can help keep things going in the right direction. If you have friends who have retired, but you want to continue working (and no one is showing you the door) there are lot’s of mental and emotional tugs to change what you do not want to change. The same emotional swings exist when you want to retire, but friends are determined to continue working. Retirement brings with it emotional changes as your health, and that of your spouse, changes. Who cares for whom? How do you cope with issues you wanted to avoid? Retirees may become confused and frustrated when they try to fit a role they assume someone expects of them.
Shot #3 – Communicate!
You may have already guessed that proper communication would be the third (and most important) shot to inoculate your retirement. Talk! Talk with your spouse about what you expected to do and how you planned to help around the house. Talk with your spouse BEFORE you retire, well before you retire, about what you plan to do in retirement. Talk with your children about how much time they would like for you to spend with them, and how much time you would like to be “on the road.” Talk with friends who have retired. Talk with people who are living as you want to live…and with those who have assumed a different lifestyle. Communicate with your primary care physician about your concept of a good retirement lifestyle. Ask if your expectations are realistic. Visit with your financial advisor determining if your dreams can be supported by your retirement savings. Discuss with a trusted minister about how your talents may be used in new ways.
Proper communication is the best booster shot available to prevent a frustrated retirement. No one can avoid the sudden and unpredictable changes that come with aging, but communication with family, friends, church leaders, and others can help us weather the storms.
1 The Root Cause of Retirement Failures. Laura, Robert. December 19, 2016. Financial Advisor Online.