Author: Maria Alfano-Huggins

You have thought long and hard about throwing in the towel but are you ready for retirement? Are you prepared for what comes – or better yet – what doesn’t come next?

Set aside the financial aspect for just a second and lets explore the emotional side of retiring. Are you really, really ready for this next phase of your life?

Commonly Asked Questions for Retirement Readiness

What are the top signs that you are ready to retire?

These are the top signs that retirement is for you:

Dreading Sunday nights
Chronic fatigue
Loss of interest in your work

How do you know that retirement is for you?

Some people look for a sign from the heavens but it is really not that complicated. Having these in your back pocket could mean that it is time.

Your finances are in order
Your goals are set for beyond age 60+
You are ready for something more meaningful

The “R” Word – Are You Ready for Retirement?

Like so many before you, you have reached a point in your life where you keep asking, ‘Is this all there is?” What if I told you, no, this is not all there is. Life has so much more to offer than just home, work, work, home, rinse and repeat.

Some people are simply afraid to call it a day. They fear their existence will no longer have meaning; that they will no longer matter. This is simply not true. To get over the fear, you can take a phased approach to your retirement.

Stages of Retirement

You have the urge, and your mind is racing. Are you ready to retire? The question keeps nagging at you. What if you make a mistake? What if retirement is not all it is cracked up to be. Afterall, you hear so many stories about people leaving their jobs and within months, they are no longer on this earth. You don’t want to be one of those statistics. Well…you don’t have to be.

Take a phased approach to your retirement, one that allows you to slowly break free from those golden handcuffs on your terms.

Part-Time – Start by going from a full-time worker to a part-time worker. This allows you to stay gainfully employed on a smaller scale. You still have a sense of purpose. You continue to have somewhere to go and something to do each week. And, you are not lonely, searching for someone to talk to.
Consulting – becoming a consultant in the same field that you worked in for years, allows you to stay active in the workforce at your pace. You determine how many clients you want to work with and how many hours you want to work per week or month. Eventually, you can scale this down to zero (when you are ready, of course.)
Volunteering – if part-time work and consulting do not appeal to you, perhaps volunteering is the avenue for you. Volunteering gives you that sense of purpose. It keeps you engaged with others. You don’t have time to think about the job you no longer have.

A slow approach to retirement is paramount for mental health if you are someone whose job gave you the fulfilment you needed to keep going each day.

My Personal Journey

I recall when I first retired from my job, I found myself filling my days with so many things that I did not have time to think about what I had done. I had never asked myself the question, “Are you ready for retirement?” When I slowed down enough, I realized that I missed working. I missed it enough to start my own consulting company. For 10+ years, I took on my challenges, new clients and felt accomplished again. Until, one day, I no longer felt any of those things. I was tired of the new challenges. The same silly questions and issues that were there when I was working were still there in my own company.

Truthfully, I did not want to deal with these anymore. I had lost interest in my work and the fatigue had become unbearable. I gave notice to all my large clients and decided to keep only a handful of my smaller, less demanding clients. Even that was not enough for me to quell that desire for freedom. I gave notice to my remaining contacts that I would only be available 2 days per week going forward. That was a shock to them but to me, it was still too much work.

You see, I had grieved the job I lost when I started my consulting firm, so I no longer had that to consider. I had slowly removed myself from the full-time work, realizing the part-time was more than enough. In the meantime, I had already figured out what to do with my extra time. When it was time to close the proverbial office doors for good, it was not difficult. I had transitioned myself out of a job with grace, peace of mind, and the support of my spouse.

Retirement Regrets

Everyone has regrets about things in life. Shoulda, woulda, coulda. Knowing if you are ready for retirement before calling it quits, can help you avoid these regrets. So, are you ready for retirement?

Pre-retirement – having planned enough for your emotional and financial well-being builds the foundation for a healthy retirement. Set your future goals – downsizing, travel, volunteering, time with the grandchildren. These give your life a new purpose.
Love Bubble – you have retired and your initial reaction is joyful and fun. You’re so excited to be doing something different from the past 40 years. The plans you created are coming to fruition.
Disillusion – one day out of the blue, you wake up to the loss of excitement from your little love bubble. You keep asking yourself, “What’s next!” Dealing with the boredom and loneliness, missing your work family is only natural. So what is next?
Introductions – not only to new people but to new and exciting things. Maybe you join a pickleball team, you take up knitting, or, maybe you learn a new language or musical instrument. The possibilities are endless. Think about your younger self and the dreams that they had. Bring those dreams to life. You have the time and the means to do this now.
Establishment – you have finally settled into your new life. It’s not so bad after all. There are so many new things and new people in your life that you don’t have time to miss the old routine. Enjoy what comes next.

Finally – Are You ready for retirement

Most people focus so much on the financial aspect of retirement readiness that they ignore the emotional and mental challenges of retiring. There is so much more to quitting the 9 to 5 than many people realize. Walking away cold turkey may not be right for everyone. Consider the following before saying good-bye for good: do you have something to do to fill your time? Did you enjoy what you were doing and walked away because society said it was time to go? Is there a support system you can turn to when you need a shoulder or a friendly ear? Are you prepared to give yourself the grace to say it’s ok to miss the old routine?

All these are important but ultimately, it is up to you to determine the best, the best reason, and the best opportunities available to you for your retirement. let me ask you one last time. Are you ready for retirement?