Retirement is a major life event.
Throughout your working life, you have most likely looked forward to the idea of retiring. That idealised vision of luxury cruises with your partner or friends, or days playing golf in the sunshine. But, now that it’s actually approaching, fear may be setting in.
This is because retirement can leave you feeling like you’ve lost your identity, your structure or your status. That’s a scary prospect!
You might be surprised to hear that being scared of retirement is actually quite common:
“When asked about their opinions on the subject, a shocking amount of Americans are frightened of retirement. For 40%, it’s a fear worse than death, and 47% fear it more than poor health.”
So, how can we stem those fears and create a retirement plan to look forward to?
Here are 3 simple ways to face the fear:
Identify your fears
What aspect of retirement is it that scares you the most? Or, what aspect of your current situation are you most scared about losing when you retire? By identifying and acknowledging these fears, you can start to determine what is and what is not within your control.
With the fears that are within your control, you can start to create an action plan to overcome these fears. Maybe you are scared of losing the status that your career provides you with? So, by identifying that fear you can look at ways to replace that with a new form of status in your retirement.
With the fears that are outside of your control, you have to learn to accept and embrace them. It is important to understand that fear only holds us back and prevents us from moving forward to our utmost potential.
Embrace change and transitions
Coping with change is never easy, no matter the circumstances. So it can help to look at retirement as a transition period, and take time to understand the transitions necessary.
Shift your mindset and start to think of retirement as the beginning of a new journey, not just an end destination. Be patient with yourself and acknowledge your emotions along the way.
Take time to understand what’s important to you and how you will bring that forward with you into your retirement.
Define the life that you want to retire to
What do you want to be your inspiring reason to get out of bed every morning? Having a purpose is a critical part of your retirement plan.
Give yourself permission to dream big and brainstorm new, exciting possibilities for your future. This purpose will be completely authentic to you, and aligned with who you really are and what you really want.
By defining the life that you want to retire to, you can start to establish how to purposefully fill your days and find meaning and motivation in your retirement.
Retirement can be a scary prospect, because it holds uncertainty and we fear what we don’t know. But, by facing these fears head on and acknowledging your concerns, you can conquer the uncertainty and create a situation where you thrive. We should look at retiring as the beginning of a new chapter in your life, not the end of one. Embrace the change, pursue your passions and enjoy the opportunity to live the life you want to live.
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