-What are the 5 Stages of Retirement?
Just like all other major life-altering events, retirement is a process of emotional adjustment, a stage of transitions into a new part of your life.
It takes time to adjust yourself mentally through these transitions, as it would navigating the first stage of a new job or the beginnings of a marriage. These all bring about a serious amount of change and uncertainty and can be difficult to adjust to.
As most people are used to defining themselves by their career, this process isn’t always the easiest. But, if you break the stages of retirement down into 5 different steps, you can work methodically through the retirement transition and create a joyful, purposeful retirement life.
Step 1 – Pre-Planning
Pre-planning is the stage of life leading up to retirement, around 5 or 10 years before you retire. This is the first step in shifting your focus from aiming toward work achievements to preparing financially for life in retirement.
During this time, it is important to start shifting your mindset to mentally adjust to the upcoming changes in your life. Take time to really think about what you want to achieve in retirement and what will bring you joy after your working days are done.
This can be a very uncertain time filled with apprehension and doubt, so the more time you put into mentally preparing yourself, the more you will reap the benefits when retirement begins.
If you want to learn more about pre-planning in retirement, you can book a call with me here and I can talk you through how to take the first steps in your journey.
Step 2 – The Honeymoon Period
The Honeymoon Period is that very first stage of actual retirement. You’ve officially left your job, you’re free and don’t have anyone to answer to, you can do anything you want!
You will most likely spend this time seeing friends and family, going on vacation or traveling, enjoying hobbies, and being content with not having a job to go to. During this time, you will feel relief or excitement at your new-found freedom.
This initial stage of liberation can last anything from a few weeks up to a few years, but no matter the time span it does tend to wear off at some point.
Step 3 – Discontent and Doubt
As the reality of retirement sets in, and the rose-tinted glasses of the honeymoon phase have gone, a sense of discontentment can appear. It is very normal during this time to feel bored, lonely, or useless.
The novelty of having nowhere to be on a Monday morning has worn off, and you can start to feel depressed or empty. You can also start having doubts about your life and your purpose.
The discontentment stage can feel very helpless and it is crucial during this time that you reach out to loved ones, or a life coach, to explain how you feel and how you can move past this.
Step 4 – Focus and Realignment
With help and determination, you can navigate out of discontent and realign your life. This can be the hardest part of retirement because the process of discovering your purpose and establishing who you are in retirement can take a lot of time and real conscious effort.
Even though it can be difficult and involves a lot of hard work, once you achieve this part of retirement, you’re on the right track to achieving your end retirement goals.
Use this time to try new things, find new hobbies and interests, or discover what your purpose is going to be. It can be a daunting prospect, after focusing on a career or a family life, to find a solely selfless purpose. But, it is vital to put all of your energy and passion into finding what makes you happy.
Step 5 – Fulfilment and Balance
The very last stage of retirement is finding balance and feeling fulfilled in the stability you have created for yourself. You should feel positive about your retired life, and like you’re living your true purpose.
This will mean you’re in a settled routine, you’re doing things that you love, and are overall just enjoying your life within your new sense of identity.
Life planning is the key to a successful retirement. If you put thought and effort into planning a post-career life with purpose, you will find that your transition into retirement will be a lot smoother. Dreams aren’t achieved overnight, but they can be worked towards with the right mindset. It is never too late to create a life beyond your wildest dreams.