Retirement can be an oddly fraught time of life for many. For some, it is bliss, a time to be spent engaging in activities long delayed with people long ignored. We find that those that seem to do retirement best are people who, during their working lives, had a great deal of control over their time. These would be self-directed folks, often business owners, independent contractors, or otherwise self-employed. The lessening of structure and the change in community is not nearly as impactful as for someone who may have been working in a highly structured environment with little control over their time and focus.
Many people derive so much of their sense of worth from work that they are scared by the prospect of a life without it. This is especially true with those who have been single minded in their devotion to their careers — doctors, for instance. Imagine you are used to swimming in a high-cortisol environment, maybe a life-sustaining emergency-room physician, and you are contemplating going from that to maybe tending a garden. It may seem wonderful to some, but the transition can be terrifying, not to mention that the defining “Dr,” or whatever title one may have, no longer carries the weight it did. This is a huge transformation, and one reason some people have no interest in stopping, even at the cost of their health.
Depression is more common among retirees than among people of the same age who still work, and retirees are depressed at significantly higher rates than the overall population. Loneliness, lack of purpose, and a demotion in social status can all play into it. The thing to keep in mind is that our assets are far more than spreadsheet numbers, and as important as money is, we need to also be focusing on our learning, friend groups, health, curiosity, and physical fitness assets as well as the dollars. There will come a time when, no matter what your gig, you will probably want to slow down, and it can be a wonderful time of life if we make the proper plans for it. Margaritaville isn’t for everyone. We are all different, and it is about finding what is the best fit for each of us.
Onward and upward,
David