Contemporary Retirement Coaching Blog

The 6 Stages of Retirement - Part 6

Stage 6 - and the final stage of the retirement process is the Routine phase. 

Routine comes when you’ve sorted out all your ‘issues’.  A new order of life has been established, retirement is starting to fit you like a glove and you're wondering how you ever found time to go to work.  However, even this stage is not without its potential pitfalls...

The potential pitfalls of the Routine Phase include:

• Becoming set in your ways by having too rigid a routine
  
  
• Leaving no time or scope for fun and spontaneity in your life
  
  
• Keeping yourself so busy that you don't leave enough time to spend with the people who matter most to you 
  
  
• Being too risk-averse, not being adventurous enough
  
  
• Believing a little too much in the ‘forever young’, baby-boomer-generated aphorism that ’60 is the new 40’.  For example, although exercise is considered to be extremely beneficial (some would say crucial!) as we get older, our bodies aren't the same as they were when we were 20 and we need to learn how to exercise smarter.  In addition, although procedures such as cosmetic surgery and liposuction can make us look better (and younger) by removing the excess skin and subcutaneous fat from our bodies, the incidence of heart disease is just as high after these procedures because they can't remove the internal, artery-clogging fat that does the real damage, making these procedures no substitute for a healthy lifestyle.
  
  
• Not carrying out regular 'How's it going?' reviews (with your partner, if you have one) to make sure that you're still on track and that dissatisfaction or boredom haven't started to creep in

So that's it - my guide to the 6 stages of retirement.  My aim has been, not to spoil your fun as you anticipate your long-awaited freedom, but to alert you to the potential pitfalls in advance so that you can think about them and decide if they are likely to be a problem for you.  I hope the guide will prove useful to you in your own retirement and, if you find you need help negotiating through the various stages, please take a look at my website to discover how you can work with me.

The 6 Stages of Retirement - Part 5

Stage 5 of the retirement process is the Reorientation phase.
 
After the honeymoon and the subsequent letdown of the disenchantment stage, Reorientation is the process of adjustment and adaptation to the reality of retirement.  Otherwise known as ‘getting your act together’, it involves identifying and doing what you need to do to start to make retirement work for you. 

It might involve getting a part-time job to add structure and a sense of purpose to your days.  It might involve voluntary work that enables you to feel useful and valued again.  It might involve embarking on an exercise programme to lose those extra pounds and restore your flagging energy levels.  It might involve a heart-to-heart discussion with your partner to decide how you can start to enjoy your time together instead of getting under each others’ feet.  Only you can decide what's missing from your life and take the action needed to put it right.

The potential pitfalls of the Reorientation stage include:

• Not getting absolutely clear about what you want your retirement to look and feel like
  
  
• Not articulating what you want for yourself and your retirement in case it makes you seem selfish, frivolous or foolish
  
  
• Not speaking up for yourself and being honest about your wants and needs with partners or family members and, thereby, allowing other people to decide, by default, how you will spend your time
  
  
• Not sharing your vision of your ideal retirement with your partner and not truly listening to and trying to understand your partner when they share their own vision with you
  
  
• Not making a genuine attempt to create a combined, mutual version of your ideal retirements that works for both you and your partner
  
  
• Failing to properly identify the causes of your dissatisfaction and deal with them to the best of your ability.  (I realise that not everyone can completely eliminate all their causes of dissatisfaction but we can all take steps to make the situation better.)
  
  
• Not experimenting with different ways of living/being/doing things/keeping life interesting

Tomorrow - the final stage of the retirement process, Routine.  Don't forget to come back!

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Don't waste another day of your retirement!  If you're struggling with the Reorientation stage of retirement, my Retirement Detox Programme: 40 Days to get your retirement back on track ebook is available for immediate download here. 

Blogging Boomers Carnival #132

It's Monday, which means it's Blogging Boomers Day.  Our host this week is Rhea Becker at The Boomer Chronicles and she's over there waiting for you right now.  Enjoy!

The 6 Stages of Retirement - Part 4

I've written a whole book - The Retirement Detox Program - about the retirement stage that I'm going to take a look at today, because I believe that how you manage this phase of your retirement is crucial to your retirement success. 

The Disenchantment stage is where letdown – a feeling of disappointment or uncertainty - can occur. You’ve done many of the fun things you wanted to do but now the honeymoon (and maybe the budget for the fun activities) is over, and it's time to face the reality of being retired. 

Maybe you’re starting to feel a bit bored or lonely.  Maybe those fun activities you always wanted to have time to do don’t feel so much fun when you have all the time in the world to do them and can do them every day.  Maybe you’ve put on a few pounds and you’re starting to feel sluggish or less like your old self.  Maybe you feel like your energy retired at the same time you did and you’re struggling to get going again.  Maybe you’ve achieved all the goals that you set for your retirement and you’re left feeling ‘What’s next?’.
 
The disenchantment phase can become a real problem for up to 20% of all retirees and can lead to depression if not managed correctly by identifying the causes of your dissatisfaction, dealing with them and then designing and implementing a satisfying and enjoyable retirement lifestyle for yourself.  

The potential pitfalls of the Disenchantment phase include:

• Forgetting to replace the retirement goals/'bucket-list' items that you have already achieved with new ones, so that you always have something inspirational to strive for 
  
  
• Not finding ways to replace the benefits that you obtained from your work, which include: financial stability, time management, a sense of being useful, status and socialization and companionship.
  
  
• Allowing yourself to become bogged-down in everyday, mundane activities that leave precious little time for the things you really love and want to do
  
  
• Becoming derailed by something that completely blows your retirement plans out of the water - such as a recession, a divorce or health problems, and not taking the necessary action to get yourself back on course
  
  
• Becoming aware that you and your partner are 'getting under each other's feet' and that your relationship has deteriorated since you retired, but not doing anything to resolve the situation to your mutual satisfaction
  
  
• Discovering that your expectations for your retirement and those of your partner don't match up and not taking action to try to blend the two together in a mutually agreeable and satisfying way
  
  
• Letting the extra pounds pile on until weight management becomes a real problem for you
  
  
• Allowing the disenchantment phase to go on too long before taking action to turn things around
  
  
• Not recognizing when disenchantment has turned into depression and not seeking medical help to get yourself back on track

Tomorrow - Reorientation.  Don't forget to call back!

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Don't waste another day of your retirement!  If you're struggling with the Disenchantment stage of retirement, my Retirement Detox Programme: 40 Days to get your retirement back on track ebook is available for immediate download here. 

The 6 Stages of Retirement - Part 3

Stage 3 of the retirement process is The Honeymoon phase.

This is the time when many of the fun trips, projects and activities that you spent all those years planning are executed.  Life feels like one long holiday - you can sleep late in the mornings, wear t-shirts and sweatpants all day, forget to shave, catch up with all those relatives and friends in far-flung parts of the country (or the world) or just work in your garden all day.  This is what you imagined retirement would be like during all those working years – freedom to do what you want to do when you want to do it, and to just be you!

Some people who have plans to keep themselves very busy in retirement will quickly adopt a full schedule of activities – albeit activities that they enjoy and choose for themselves.

The potential pitfalls of The Honeymoon Phase include:

• ‘Chilling out’ for too long – many people report that they ‘wasted’ the first 18 months to 2 years of their retirement (ironically, the time when they were at their youngest and, often, their fittest)

• Planning more than you can cope with – some people report that their energy level plummets (temporarily) when they retire

• Spending more money on holidays/vacations/travel and general enjoyment than you can really afford and leaving yourself without a comfortable contingency fund to fall back on

• Excessive withdrawals from your retirement fund for other purposes such as home improvements or helping out your kids with 'loans'

• Relying on your partner to be your only source of companionship and entertainment.  Whether your partner is also retired or not, you can’t expect them to be ‘everything’ to you – you need hobbies, interests and friendships that don’t involve your partner too! 

• If you live alone, like your own company and prefer solitary activities such as reading and gardening, there can be a tendency to become isolated.  If you know that you have these traits, you need to make regular efforts to get out to meet up with existing friends and make new ones.

Call back soon for Part 4 in this series - Disenchantment.

The 6 Stages of Retirement - Part 2

Stage 2 of the retirement process is The Retirement Event (otherwise known as ‘the big day’).  This is the day you retire and your employment (in its current form, at least) ceases.  It’s usually marked by some kind of an event such as a retirement party or dinner and involves saying goodbye to people you’ve worked with – promising to stay in touch with some and vowing never again to have anything to do with others!

Apart from over-indulging in champagne at your retirement party and telling your boss what you REALLY think of them, the major pitfall associated with this stage is, sadly, expecting to stay in touch with colleagues and friends from work – you will be surprised how quickly people move on when they no longer see you every day!   If you want to remain in contact with ex-colleagues, you need to be prepared to do most of the work involved in staying in touch yourself - even when it feels like you're the only one making the phone calls and suggesting the meet-ups!

Next - The Honeymoon Phase.  Don't forget to come back!

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How retirement-ready are you? 
Find out with The Retirement Success Profile.

The 6 Stages of Retirement - Part 1

‘Retirement is often viewed as an ‘event’ when retirement is actually both a process (requiring planning and adjustment) and a life stage (lasting for multiple years.)’ 
Christine A. Price, Ph.D

'It's just a stage you're going through...' - how many times have well-meaning friends and family members said that to you over the course of your lifetime?  And don't expect them to stop now, because, as far as retirement is concerned, there are six identified stages that most retirees go through to varying degrees.   They are:

1.  Pre-Retirement (the working years)
2.  The Retirement Event
3.  The Honeymoon Phase
4.  Disenchantment
5.  Reorientation
6.  Routine

Today and for the next 5 days, I'm going to take a look at each of the retirement stages in turn and identify some of the potential pitfalls associated with them.  So here we go... first off, the Pre-Retirement stage, otherwise known as the working years.

This is the time when your plans and perceptions regarding retirement are formed.  You’re making the pension contributions and building your retirement nest egg to the best of your ability. 

You’ve probably also started to give some thought to what you want to do with your retirement – maybe you’re thinking about moving somewhere warm and sunny and you’re checking out property prices in the areas that appeal to you, or you’re looking at travel sites to get some ideas about a ‘big trip’ you want to take.  Maybe you’ve been ‘saving up’ experiences for your retirement – something along the lines of ‘Once I retire, I’m going to ___________’ (you fill in the blank). 

This phase can also include some feelings of disengagement from the workplace (increasingly so as the retirement date approaches) but, alternatively, many soon-to-be-retirees report a feeling of increased focus and energy as they work hard to ‘tie up loose ends’ and hand over a tidy ship to their successor.

Some of the potential pitfalls associated with this stage of retirement include:

• Not saving/investing enough money

• Neglecting, self-managing or not getting a second opinion about your investment portfolio

• Underestimating your life expectancy  (Fidelity Investments has found that the chances of one member of a couple living past the age of 90 are about 50%)

• Leaving assets unprotected by not having adequate life, medical, home or long-term care insurance

• Not giving any/enough thought to the non-financial side of retirement and what you want to be, do and have when you retire

• Neglecting your health

• Not developing any hobbies or interests outside your work

• Investing more time and attention in your work than you do in your life outside work

• Not developing any friendships outside work

• Neglecting your relationships due to pressure of work (and thinking that you’ll have plenty of time to repair any damage once you retire – the relationships may be damaged beyond repair once you get around to it).

Tomorrow - The Retirement Event.  Don't forget to come back!

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How much time have you spent thinking about and planning the non-financial side of your retirement?

Thought Provokers: Questions You Need To Ask Yourself BEFORE You Retire

(Definitely NOT your average 'how-to-do-retirement' book!)

Happy 60th Bruce!

In honour of the birthday boy, here's one of his lesser-played songs (but one of my all-time favourites):

Bruce is turning 60...

I'm gearing up for Bruce Springsteen's 60th birthday tomorrow, so here's some film of the man at the Hammersmith Odeon, here in the UK in 1975.  (The video starts off dark - no need to adjust your screen.)

Blogging Boomers Carnival #131

There's an autumnal feel to Blogging Boomers Carnival #131, which is hosted by John Agno at So Baby Boomer.  Head over there now and celebrate the change of season with your favourite blogging boomers.