Hidden Secrets for a Successful Retirement!
You have done your homework and determined that with some careful budgeting and a little luck you can afford to retire. Not only have you read books on financially preparing for retirement but you’ve also attended numerous free seminars on the topic which also had the fringe benefit of some free meals included. If you’re not yet 65 you have scoped out the health care issues and with the attend of COBRA or perhaps a company plan. If you’re officially a Senior Citizen welcome to the world of Part A, Fragment B, Part D, perhaps Medicaid and, of course, the numerous Medicare supplement plans. You’re ready to kick back and appreciate the good life with that Senior discount on your morning cup of coffee at the nearest posthaste food establishment. Sound like a belief? It’s a great start but there is a little more to it then meets the peer.
It is not surprising that a majority of the books on retirement focus on both being prepared financially as well as providing for health care. While these are usually the valuable first issues to research there are other facets to retirement that you should consider. These hidden factors may not apply to everyone but nonetheless, if they do, you should keep them in mind as you enter this recent phase in life.
Paychecks and Feedback: Since you’re ready to retire you’ve covered the paycheck, or lack thereof, piece of it. Financially you’re respectable to go. But besides the certain, which is money that isn’t coming in from your paycheck, consider some other aspects. First you have to become comfortable with the feeling that some have that they are leaving ‘money on the table’. This can occur whether you’re retiring early or even leaving a job at the age of 70 or older. In so many words you have to convince yourself that enough is enough. If you want to construct some money part time once you retire, go for it, but don’t do it just to partially replace the money you are leaving leisurely. Do it because it’s some activity you enjoy and win rewarding in some way such as giving back to the community. Once you retire you will quickly find that your paycheck served as a means of feedback from your employer that you were doing something worthwhile and of value to someone else. While in some jobs you have regular reviews, hopefully with warm fuzzy feedback, the bottom line is that the paycheck and the amount provides a very strong input your judgement of your self-worth. In preparing for retirement think about this and consider ways that you will replace this feedback with similar feedback. Spending part of your free time volunteering is an excellent plot of getting this feedback and reinforcing your self worth and feeling superb about it. Don’t underestimate this role that the paycheck plays in many or our lives. It’s not something you normally think about but when the paycheck isn’t there on a regular basis it can have a strong psychological effect.
A Spouse in the House? In planning your retirement you should also mediate if you have a spouse whether it is wise for both of you to retire at the same time if you both presently work. It may be tempting for both to retire together and enjoy your newfound freedom as a couple. Depending on the couple this may work fine but be aware that with some couples this can produce a great deal of anxiety and dissimilarity. Certainly not a good way to open a long awaited retirement! In most cases you have spent 40 or more hours apart from your spouse each week during the many years you have been working. When you suddenly have that time together, while the concept seems nice, it may in practice lead to some disagreements. When one person retires first they can adapt to the time off, find their own interests and decide in to this new design of life with a comfortable routine. At that point the spouse can retire and have their own time to adjust rather then both trying to do it simultaneously. Having gone through the adjustment the person retiring first should be sensitive to the adjustment their spouse is going through.
For Better or Worse: In the case where only one of the couple has worked outside the home there may be some additional challenges to believe. For example if the husband works and the wife is at home and typically eats lunch out with friends several times a week the husband might not understand when the wife isn’t there to prepare a noontime meal if he happens to expect that once he retires. Similarly if the wife works and the husband has been at home and typically goes off and plays golf the wife, now that she is home, may resent being left alone. These are typically not major issues but are among the things to consider prior to retirement rather then waiting for resentment to develop.
Imagine This: Many people will tell you that once you retire you can now pursue your main interest with a passion. While it is nice when you have that hobby or activity to immerse yourself into you should recognize that not everyone has such an interest and that it is OK not to have this and you shouldn’t consider yourself abnormal. This does not mean you should become a couch potato but rather use your time to search for many areas and recognize that there are numerous ways to use this time to learn about things, places and people. Many activities won’t float your boat however in the process of learning and exploring you may just find something you want to pursue in depth.Retirement isn’t a one-size-fits-all endeavor. It means different things to different people, which is the way it should be. Obviously you need to understanding the financial aspects of retirement with great care but don’t think the job is done then. Considering the more intangible parts of retirement ahead of time, such as those discussed here, will make retirement a distinguished more pleasant and meaningful experience.
