The transition to retirement can be difficult for many people. Most adults have been working 8 hours a day, 5 days a week, for 20 years or more! It makes sense that the sudden loss of that routine, income, and social support can sometimes be jarring. Here are some tips on easing the transition to retirement.
Switch to Part-Time First
Going directly from spending 1/3 of your day working, to working 0 hours a week, is an abrupt and dramatic change. Many people find it easier to switch to part-time work or cut back on their hours before retiring entirely. For example, a full-time teacher could switch to a half-time position, or try substituting. If you own or manage a company or business, it can be easier to step back slowly as you train others to take your place, giving them more and more responsibility over time. A longer, more incremental transition to retirement might be a gentler way to get used to your new routine.
Make Plans and Goals
Career-focused people often wonder what they will “do with themselves” once they’ve retired. Get ahead of this anxiety by making plans and goals for what you will do with your retirement! Do you plan to travel? Visit family? Spend more time on hobbies and interests? Focus on learning new things? Come up with plans and goals for what you want your life to look like after you’ve retired. This can make it a lot more fun and productive, and give you something to look forward to rather than worry about.
Expect Highs and Lows
Realistic expectations can be very helpful here. Even in retirement, you will have good days and bad days. They won’t all be great. You’re likely to experience lots of conflicting emotions–excitement, loss, worry, boredom, joy, and many others. Sometimes you might experience all of these feelings in one day! Let your emotions come and go and change as they will. Retirement is emotionally complicated, so allow for and embrace that complexity.
Create a Budget
Finances can be a major concern when retiring. Many retirees worry that they will outlive their retirement savings. Resolve these concerns by taking a comprehensive look at your finances ahead of time, and budget accordingly! Your budget, income, and financial priorities may look very different after you retire, and that’s okay. You may also want to check out this post on preparing financially for retirement.
Look Into Your Healthcare Coverage
Many people experience an increase in health problems as they get older. Make sure you have sufficient healthcare coverage to meet your medical needs after you retire. Because your employer likely provided your healthcare coverage while you were working, you may need to find your own health insurance now. Medicare and Medicaid might be available to you depending on your age and income. Now is the time to look into these programs, apply for them, and make sure your medical needs will be covered.
Consider Senior Living
Now that you’re retiring, it may be a good time in your life to consider moving to a Senior Living Community. Senior Living Communities can save you money, improve your social life, take care of your medical needs, and provide emotional support during this transition. Check out a Stellar Living Community today to see if senior living is right for you.
The transition to retirement doesn’t have to be hard, sad, or scary. We hope these tips on easing the transition to retirement will help your retirement be as smooth and joyful as possible!