Planning your federal retirement isn’t only about saving enough money. It’s important to prepare for dealing with the emotional and psychological effects of ending your career.
Feeling Like You’ve Lost Your Identity
During our working years, when meeting someone new, it’s common to ask, or be asked, “What do you do?” In the U.S., what we do for a living is a big part of what defines us as a person. Once you’re no longer working, you may feel a bit lost. Consider becoming a mentor, a volunteer, or exploring an area of study that always interested you. It’s a good way to give yourself a renewed sense of purpose in the next chapter of your life.
Feeling Anxious Or Depressed
Retirement is a significant lifestyle change that may trigger anxiety and depression. If you’ve moved away from friends and family to a retirement community in another state, you may feel isolated and unable to get your bearings. Other emotional challenges include:
- Feeling anxious about having more time on your hands.
- Struggling to find meaningful ways to fill the extra hours.
- Feeling lost without the social interaction you had with coworkers.
Community resources for seniors may be able to connect you with peer support groups where you can talk with others dealing with the same challenges. Also check for retirement groups in your area or consider starting your own.
“According to the U.S. Census Bureau, divorces reported from the 55+ age range were twice the rate of every other age group.”
Retirement May Take A Toll On Your Marriage
It’s important to communicate with your spouse about what you’re feeling otherwise your marriage may not survive retirement. According to the U.S. Census Bureau, divorces reported from the 55+ age range are twice the rate of every other age group. The most significant increase was among boomers age 65 and older with the divorce rate tripling between 1990 and 2021. This growing trend has come to be known as “Grey Divorce.”
Don’t Fall Into The Habit Of Drinking Too Much
With more time on your hands, social drinking can become an everyday, all-day habit. A recent study shows that older adults are now drinking alcoholic beverages more frequently and in larger quantities than in the past. According to the National Institute On Aging (NIA), how the body handles alcohol can change with age. The loss of muscle mass as we grow older can cause us to feel “high” quicker and for longer which can lead to serious falls or car accidents.
Remember — a healthy state of mind is just as important as a healthy retirement nest egg.
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