More often than not the focus for retirement centres on finances. However, retirement planning is not all about the money; thought also needs to be given to how you are going to transition from a working life to a retired life.
Where the baby boomer generation is concerned, men have predominantly been the main bread winners for their families whilst their wives/partners have in the main been the stay-at-home partner who raised the children and took care of the household. As a result many baby boomer women have been able spend time developing new friendships and exploring options outside of work and children. Baby boomer men however, for the most part, have not been able to do the same. With such a heavy focus on their work life and with many of their social connections inter-related, many men now facing the end of their career are struggling with filling the gap that is left once they reach retirement.
To make this transition easier and enjoyable – after all, these are the golden years you’ve been working hard towards – baby boomers need to plan for their retirement outside of the financial aspects. What will you do in your new, retired life? Will you go on trips or perform charitable work? Will you learn something new, develop a new hobby or improve on an old one? What did you enjoy about your working life and how can you recreate those aspects in retirement? What did you do before you worked and had children that you enjoyed and can you do those things again?
You will be able to use these experiences to help you prepare for the retirement transition so that you will wake up on Monday after you have retired and be looking forward to your new life with a clear direction.
If you would to make a start on your transition plan so that you are emotionally prepared for retirement and the "Golden Years", please contact us on 8291 2111.