Warning sign 4 you fear the isolation that retirement may bring (1)

As retirement approaches or begins, one of the most meaningful aspects of life is the relationships we’ve built over time. Developing these connections can greatly enrich the retirement experience by offering emotional support, social engagement, and a sense of continuity.

By nurturing existing relationships, retirement becomes an opportunity to deepen and strengthen the connections that give life meaning. These relationships provide emotional support, social interaction, and shared joy, helping to create a fulfilling and enriching retirement experience. Investing time and energy into maintaining these bonds pays off in happiness and well-being, making the transition into retirement a more graceful and rewarding process. If you primarily socialize through work and haven’t established social connections elsewhere, retirement could feel lonely and isolating, impacting your mental well-being. It is important to not just your physical but also your mental health so that you do not become isolated. If you can try to stay in close contact with at least three to five people. If possible, having one of these a particularly close relationship in which we rely on the other person, and they on us helps us healthily and lovingly.

Busy careers and responsibilities may have limited the time you spend with friends or family. Retirement provides an opportunity to renew those connections. Scheduling regular calls, video chats, or even casual meetups can help maintain and strengthen bonds. When COVID made it impossible to travel, my brothers and I set up a Zoom meeting once a month and spent an hour or more catching up and talking about what we were doing.  Whether it’s a weekly coffee date or a Sunday family dinner, consistency fosters deeper relationships.

I have another group of friends that I was able to reconnect with once they had retired and we keep our friendship and relationship strong by engaging in activities we all enjoy. This  for us is golfing, but it could include hobbies, like gardening, walking, curling, or volunteering together. Shared experiences create lasting memories and deepen bonds.

My wife reconnected with people from her past and they shared many years working on community theatre projects. Retirement offers the time to reconnect with people from your past, whether they’re former colleagues, high school friends, or old neighbours. A simple call, message, or even social media can help revive friendships that may have faded due to distance or busy schedules. My high school graduation class has a Facebook page, and they meet once a month for dinner and share pictures of the social events for the many of us who cannot attend.

Family gatherings, an alumni event, or a reunion, or local meetups can rekindle connections and bring joy. These events offer a chance to reminisce and create new memories together.

Warning Sign that you are not ready for retirement.

 Retirement is a time for new adventures, however, if work has consumed most of your time and you haven’t developed hobbies, social networks, or interests outside of your career, you may find retirement boring or unfulfilling.

Retirement is a time for finding delight, freedom and carefreeness. There are many building blocks for happiness. 

One aspect of happiness is, for many people finding a new passion. We take on challenges and develop skills by doing something we enjoy. This will allow us to experience flow more often – the sense of being in the zone or deeply immersed in a passion – and to grow and become more complex human beings. Easy to say, harder to do, I understand, so how to start, first try activities that have always interested you but never had time for. 

As many of you know, I am a big believer in the power of the local community center. These centers or online platforms offer courses in art, languages, music, or gardening. Another way to start is to join a club or a group. You could look for book clubs, travel groups, or sports leagues (golf, tennis, etc.) to stay engaged socially and mentally. I have been a volunteer for most of my life and I am a big fan of volunteering as I believe it can introduce us to new passions and connect us  with like-minded people.

To get started building a hobby try  these resources, coursera.org or Masterclass.com, these are two of many online platforms offering a wide variety of hobby courses, from painting to creative writing. To meet like minded people use apps such as meetup.com,  a platform to find local groups and activities that match your interests, from hiking to photography.

Warning sign two inadequate financial planning.

A big issue for some is the problem of inadequate financial planning. A lack of clarity around your financial situation, such as not knowing if you have enough saved or if your budget is realistic, can lead to anxiety and stress when income changes after retirement.

As you start to plan for retirement, the planning of which should start about 10 years before you actually retire, you should consult a financial planner. When you consult, you should review the four pillars of your retirement. These pillars are:

1. In  Canada, the Canada Pension Plan (CPP) or in the U.S, Social Security is the first pillar of retirement.
2. In Canada the Employer Pension Plans which align with Employer-sponsored retirement plans (401(k)s, pensions) in the U.S. as the second pillar of retirement.

3. In Canada Registered Retirement Savings Plans and Tax Free Savings Accounts align with Personal savings and investments (IRAs, Roth IRAs, and other investments) in the U. S as the third pillar of retirement.
4. Home equity is often considered the fourth pillar in the U.S., while in Canada, Old Age Security is considered the fourth pillar.

A retirement-specific financial advisor can help create a sustainable retirement income strategy. After your meeting, you should have the tools to help you create a budget before leaving work to see if it’s realistic and allows for unexpected expenses. Or you could take a course, many community colleges and retirement websites offer online courses on managing retirement finances. To help you check out these resources: Fidelity Retirement Calculator can help you estimate if your savings are on track and NerdWallet Retirement Planning Tools which offers budgeting tips and calculators tailored to retirement

I''m retiring who am I now?

Over the years I have met many people, who, like me, had trouble when they first retired. Here are some early warning signs and how you can take steps to overcome the issues so that you have a smooth or graceful transition into retirement:

The first issue is an unresolved Identity or Purpose Concern. What I mean is that if your identity is closely tied to your job and you haven’t thought about how you’ll find fulfillment without it, you may struggle with a sense of loss or lack of purpose. I call it the “I used to be somebody” syndrome.

There are some steps you can take while you are still “somebody” to help ease the transition to being “invisible”. First, explore New Roles by reflecting on what you enjoy outside of work. What values or passions drive you? Consider volunteering, mentoring, or pursuing part-time consulting in your field to stay connected while transitioning. This is not easy if your whole life has revolved around your job. This may take months if not years. To help try using tools like vision boards or journaling to clarify what a fulfilling life looks like post-career. A good book to read is  "Designing Your Life" by Bill Burnett and Dave Evans, They offer strategies for rethinking career transitions and designing a purposeful retirement.

Remember you are not on this journey alone many others have travelled this path before you and have left resources to help you such as Encore.org This group focuses on purpose-driven work post-retirement, offering ways to transition into roles that bring meaning. As well there are many websites to help you find volunteer opportunities aligned with your skills and passions.