Holidays as a Time to Reflect on Retirement Plans
It's tempting to think about retirement life as one long holiday, with endless rest and relaxation, time with family or friends, and plenty of new experiences. While retirement does include some of the same things we enjoy on holidays, there is also so much more to consider. And actually, holidays can be an opportunity for thinking about your future life outside of work.
As you relax into your next holiday, take a moment and just imagine that this is part of a permanent transition: You will never go back to your workplace.
For some, this brings about joy and relief; for others, it brings up fears and uncertainties. Notice your own reaction. What are you happy to leave behind? What might you miss about work? And what aspects of your holidays would you like to bring into your retirement lifestyle?
What does your holiday lifestyle offer that your working life does not?
You may also consider what your holiday lifestyle offers that your working life does not. What appeals to you the most about your holidays? What do you enjoy most on holidays, and why? And what does this tell you about how you might like your future retirement to be?
For instance, holidays may offer opportunities for new experiences, to learn new things, or to rest and enjoy better sleep. They may also allow time for simple pleasures, such as reading a book or time over breakfast with a partner. Which of these things are important for you to include more permanently, in your way of life after full-time work?
What are you happy to leave behind?
Even the most rewarding work will have its downsides. It may be the commute, the difficult coworker, bureaucracy, the inflexible schedule, or the stress. These aspects of work highlight some of the obvious benefits of retirement, in that you no longer have to deal with them. For those who have been working in unhealthy work environments, and have really experienced low levels of job satisfaction, leaving this behind with retirement is likely to lead to improvements in health and wellbeing. For everyone else, it’s perhaps more of a ‘nice to have.’
What might you miss about work?
Work usually provides many personal benefits, in addition to the obvious financial benefits. For some, work is a source of positive and supportive social connections. It may also provide opportunities for learning, growth, and achievement. For most of us, work also contributes to our sense of self–just given the sheer number of hours we spend doing work, it is almost bound to become a part of how we think of ourselves, and how others think of us.
So is retirement really like one long holiday? Probably not, when we give it a bit more consideration. Having time to slow down and relax would be good for most of us, but a lifestyle centered on this is unlikely to provide lasting fulfilment. If you spent your retirement the same way as you did your holiday, how long before you might need more variety, more challenge, or a deeper sense of purpose?
For more information on retirement life planning, you can book a complimentary consultation with a retirement coach, or have a look at our training programs for professionals working with retiring clients.
