Part 2 - Home Sweet Home: Things To Consider Before Retiring

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By Mia Bolaris-Forget

Money and Finances: With the cost of living increasing exponentially these days (especially if you want to live and not merely exist) after retirement there’s no doubt you’re going to need money to spend if you’re going to expend any time and energy into actually enjoying your retirement. It is said, that “man does not live on bread alone”….well, newsflash, today’s (retired) man (and woman) can not live on pension alone. Before you decide on whether or not you continue working you may want to decide if you can afford not to. Consult with a financial advisor or planner (one you trust) and discuss the following factors:

· The amplitude of your superannuation savings

· Auxiliary savings and assets

· Number of dependents

· Plans pertaining to remaining in the work force (perhaps part-time)

· Discretionary pensions or part-pensions

· Financial options (especially if one of you gets ill)

· Retirement lifestyle

Moods and Emotions: Have you ever looked eagerly forward to something only to be let down? For many, retirement is one of those things. While experts agree that initially new retirees experience a euphoric relief, as they eagerly seek out eagerly anticipated time to relax, with friends and family or in “hot pursuit” of accomplishing all those things they were unable to while at the office. Once however the initial thrill wears off, what’s left is reality, the reality that not everyone is available when you are, has a life and obligations of their own, and that you didn’t need as much R & R as you though you did. Now what? For most that means argueing or falling into a very serious and potentially emotionally (and physically) dangerous slump that leaves you feeling old instead of good. Emotional issues to think about include:

· Do you have an identity, sense of worth, interests, hobbies, and social circle outside of work? If not retirement may feel “alienating” and “debilitating”

· Do you have a gratifying goal to look forward to? Have you developed or begun to implement a daily routine that will sufficiently replace getting up and going to work, and give you a sense of purpose?

· Have you contacted places of worship, charities, social groups and other organizations that will serve as fulfilling and rewarding experiences as well as give you something to look forward to, a sense of purpose and increase your social circle. Remember, time spent on hobbies and household activities may not be as rewarding as first anticipated

· Unless you’ve made other acceptable arrangements you may find your main source of entertainment the grandkids, as you are more frequently called upon to babysit.

· Have you discussed your retirement plans with your partner and come up with an acceptable plan for both of you? You may be quite surprised to find your difference of opinion regarding your additional time at home and together.

Spousal Issues: For years you’ve been part of a team, but every morning you’d leave that team and carry about your day, your way, until you returned home. Now you’ll be spending 24-7 with your partner in life….it’s important they you can enjoy things alone as well as together and relearn how to get along. Consider the following:

· The possibility that one partner is eager to retire while the other is not, and in fact wants to continue working.

· Conflicting ideas and ideals regarding retirement and retirement lifestyle.

· Needs and demands intrinsic to each (partner). One spouse may possess the desire to keep active and socialize, while the other may long for a more placitude and privacy. In this case, one partner may wind up feeling neglected while the other may wind up feeling stifled, stressed, and even harassed.

· Bonding is one thing. But, do each of you have enough personal time to identify with yourself? Remember, absence makes the heart grow fonder.

Next: Part 3 - The Road To Shangrila