Anti aging guide

Retirement, A Period of Opportunity



How a properly planned retirement could bring joy and opportunity

It is no longer acceptable to think of the period of retirement as the twilight years. It is true that most people make some sacrifices when they retire from paid employment. Income is likely to be reduced – but occupational pensions are becoming more common and offer greater financial security. Status may change, especially for those who have become over-dependent on the trappings associated with their employment. The camaraderie of the workplace will also be missed.

In contrast to these losses there are potentially many gains. Retirement should be looked upon as a period of opportunity. It is after all a period which may last for more than 30 years – why should you not find as much to enjoy in the third age as in the first and second, even if your aims and priorities are rather different.

Planning before retirement

This cannot start too soon – in fact we should all be planning our retirement throughout our lives. Even schoolchildren should receive instruction about retirement. Such information would enable the young to have a better understanding of aging and some insight into the complexities of being old. Young people should also be given the time and opportunity to experiment with interests, hobbies, and leisure pursuits. Such recreational activities may have no immediate relevance to their future employment, but may introduce them to activities which give pleasure and enjoyment. Having dabbled with an interest in your youth, you may have to wait until old age affords another opportunity for it to be developed and enjoyed to the full. Therefore, as retirement approaches it is important to consider what interests and activities you have previously enjoyed and can now revert to.

Financial planning must also start early. For a secure retirement a nest-egg (capital) is desirable and adequate revenue (income) must be assured. State benefits are likely to be at subsistence level only and additional pension arrangements should be made, either through your employment or individually. Attention will need to be paid to the unfortunate fact that most married women will spend some of their lives as widows. Wills should be drawn up and reviewed in the light of changing circumstances. This is especially important if family relationships have become strained or complicated. Remarriage may bring additional complications. Your living accommodation must be prepared during your working life – so that large and unexpected expenditure can be avoided during retirement, unless the decision is taken to relocate.

Posted by Carol Hudgens - March 26, 2012 at 10:17 am