Do you feel ready to retire? For some people, the decision to retire comes easily and they seem naturally prepared to make the transition. But, for others, it can be a bit more difficult.
It might be that you’re approaching retirement and feeling worried that the best is behind you. Or feeling unsure how you’ll spend your time in a meaningful way, or even how to figure it out. If you’ve been focused on your career or busy raising your family, you might not even be sure what your passions are anymore.
Your career or current life path has been your purpose and identity for decades. It is completely normal to have competing emotions when considering such a huge life change. It’s likely that you’ve always known where you’re going and how to get there, but as you’re approaching retirement, you might be feeling uncertain about what’s next.
We tend to think that retirement readiness is about having enough money saved. But, feeling ready to retire is not just about income replacement and financial planning. To feel ready for retirement, you need to plan for more than just replacing income. You need to define the life that you want to retire to.
As with any major life event, emotional signs are a great indication of when a change is needed. Studies show that if you choose when you leave your career, it can have a positive impact on your well-being. So, here are some signs that indicate you’re ready to make the move and start planning for your retirement.
Lack of Interest in Your Career
As you reach the later stages of your career, it is quite common to feel indifference towards your work. It might be that you no longer feel passionate about your job, or feel excited about being a part of your workplace.
It’s normal to feel restless or unfulfilled with your job throughout certain points in your working life. But if these feelings continue, it might be a sign to consider retirement. If you have been in a role for many years, you may have lost the passion for what you are doing and you’re ready to pass on your role and responsibilities.
If overall, you’re feeling more dissatisfied or detached from your career than you have before, it’s a sure sign that you’re ready for a change.
Stress and Burnout
A key sign that it’s time to retire is when your work starts to drain energy and vitality. If you’re feeling exhausted and run down it might be that you’re heading towards emotional burnout and it’s time to consider making a change.
It’s expected that you will feel stressed at various stages in your working life, but you shouldn’t feel a constant struggle with going to work every day. If you’re experiencing a lack of energy or feeling burned out and exhausted from your career, then it is no longer serving a positive purpose in your life.
Take time to talk to people about your stress or burnout. Talking with a life coach, retirement advisor or your colleagues can help you to weigh your options and make the best decision for your current situation.
You’re Jealous of Retired Friends
If you’re one of the only ones left in your social circle that’s still in their career, you may feel a bit left out or jealous of their freedom.
Having a case of FOMO (fear of missing out) when it comes to your retired friend’s lifestyle is completely understandable. After all, it’s likely that the social activities or meet-ups are happening mid-week, given the flexibility of this phase of their life.
With that being said, it’s important to not prematurely retire just because our friends are doing it. Despite how easy it is to compare yourself to others, it’s important to remember that everyone’s situation is different.
Daydreaming of Retirement
Do you find yourself daydreaming about what you’ll do when you finish work and time is no longer a limiting factor? Feeling detached from your work and finding yourself spending more time thinking about what else you could be doing could be a sign that you’re retirement ready.
If the future feels exciting and you find yourself counting down the days until you reach it, then this just might be the sign that you’re ready for retirement.
If you relate to any of these signs that you’re ready to retire, it could be time to start planning for your retirement. Don’t let your fear of retiring hold you back.
When it comes to feeling ready to retire, there are many things to consider, including your financial situation, health and lifestyle goals, and emotional well-being. Retirement planning involves being prepared for all of this and being ready for the changes it will bring.
Here are a few tips that will help you feel more prepared to retire:
- Have a support network that can provide emotional support in your transition
- Have a clear vision of what retirement will look like for you
- Set yourself clear goals to achieve in retirement
- Create a retirement routine that replaces your work routine
- Redefine your identity outside of your career and connect with your authentic self
If you are ready to retire and would like help planning for your future with clarity, or if you want to talk about the next steps in your journey, book a call with me today. I’d love to help you navigate this transition!