There are several myths
about retirement that I heard from the many people I spoke to while writing my
book “Reinvent, Reboot, Rewire. Managing retirement in the Twenty First Century”.
It is important for us
to address these myths as we plan our journey into the next and possibly the
most exciting phase of our lives.
Myth
1 - I am a Has Been. Am I still relevant?
Some of the people I
spoke to commented that they had now become a “has been” and that they felt
small when someone asked them “what they did for a living.” They were not proud
to say that they had retired and so invariably they would give the name of the
company where they were working or simply state that they were “on their own”.
Why does one start to
feel smaller in one’s own eyes and assume that the rest of the people are
looking at you in the same manner that you are seeing yourself? The actual fact
is that no one, none of your friends or your relatives have any time to think
of what you are doing or not doing. They are so preoccupied with own problems
that they have neither the time nor the inclination to think of you.
No one knows you better
than yourself. What is critical to understand is whether you are willing to be
brutally honest with yourself as you plan for your life ahead. Unless you are
able to look yourself in the eye without flinching, you will never have a plan
that you will be able to live with for the remaining three decades of life
ahead.
Retiring is not a
stigma. It is a reality and will confront everyone one day in the journey.
Myth
2 - I have Been There Done That
You have had a
wonderful career but is there any point in looking back with regret at what you
have given up? The fact that you have “been there and done that” means that you
have a lot of experience. Something that a young employee will not have. There
is a lot to be said about experience so there is no reason to short change
yourself.
This is the time to look
ahead at the next 3 decades of your life. You can either choose to reset life
and feel angry at everyone or you can look ahead with positivity and see what
else you want to achieve in life that would be different from climbing up the
work ladder.
You need to sit back
and take stock of what you have achieved and more importantly, what do you want
to achieve in the remaining “sunset” years of your life ahead. You need to talk
to your spouse. If you do not accept your reality, it is your partner who will
bear the brunt of your anger or depression or frustration.
Myth
3 - Nobody needs me anymore
The feeling of being
unwanted seems to affect a lot of retirees.
While discussing this
with members of an NGO that assists senior citizens I realised that a lot of
retirees felt that they were no longer needed by their spouses, their children,
their friends or the World in general.
Nothing could be
further away from the truth and if your family cares about you, they will work
extra hard to re-engage with you and make sure that you are connected back once
again with the family that you provided for all your life.
Myth
4 - How will I know when it’s the weekend?
When I discussed post
retirement plans with some new retirees, the biggest challenge I found they faced
was how to pass time during the day. There was only so much television that
they could watch and there was only a limited amount of time that they could
use for reading.
One person even
commented “I have no idea which day of the week it is. After all it does not
matter at all. Every day is a Sunday now and there is nothing much to look
forward to.”
It is therefore
critical to establish a routine for yourself. You should dress up every morning
from Monday to Friday as you would while working rather than stay in your night
suit!
Myth
5 - My kids are not yet settled
One of the big concerns
several of my friends have when they are approaching retirement is that their
kids are not yet settled. I assume the words “settled” means that their kids
have not yet started to earn enough to support their own lifestyle or that they
are still dependent on their parents for some kind of support.
Several people I know
have children who are not yet married though they are ready to retire and this
is a reason for some stress in the couple. Why do most of us believe that even
after we have spent money to educate our children, we still carry the
responsibility of making sure that they are settled and married? Remember that
post retirement, any money you spend is at the cost of your future.
Don't worry too much
about your children. Don't become a slave to their needs. Care for them, love
them, give them gifts but also enjoy your money while you can. At the same time
don't expect too much from your children. They will be with their jobs and
commitments to render much help. It would also be unfair to expect too much
support from children. In retirement, you and your spouse will be on your own.
Such stresses are
self-imposed on ourselves. If our kids expect support beyond our retirement
then they need to some serious introspection. Think about a situation where you
need financial support from your children and the answer will come to you
quickly.
Myth 6 - Can I maintain a work schedule that I have
been used to?
There is no doubt that as you get older your body will slow down and you
cannot keep the same as you would have when you were in your thirties. However,
there is no sudden switch in your body that goes off the day you retire.
It is critical for you to maintain a schedule similar to what you have
been used to so as to retain your sanity in the early months after your
retirement. If in your previous position you worked from 9:30 to 5:30, base
your new schedule on those hours. If you want to dedicate more time, that is
great. Just don't burn yourself out.
Fit some exercise in your schedule and avoid multiple trips to the
kitchen during the day. Eating healthy and exercise will keep you mentally and
physically prepared for your challenges. Keep yourself active. Try not to adopt
a new lifestyle of watching television and extended afternoon naps.
Sit back, relax and
look forward to a new and exciting phase of your life.
You are not old at all!
*******************
The author is the founder Chairman of
Guardian Pharmacies and the author of 5 best-selling books, Reboot. Reinvent.
Rewire: Managing Retirement in the 21st Century; The Corner Office; An Eye for
an Eye; The Buck Stops Here - Learnings of a #Startup Entrepreneur and The Buck
Stops Here – My Journey from a Manager to an Entrepreneur.
Twitter: @gargashutosh
Instagram: ashutoshgarg56
Blog: ashutoshgargin.wordpress.com |
ashutoshgarg56.blogspot.com
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