Retirement: You Don’t have to Retire from Life!

The Word Retirement

I’m not a big fan of the word retirement. It almost makes one believe they are retiring from life. The word is defined as: “withdrawal from one’s position or occupation or from active working life” (Merriam-Webster). I’m in my fifties and because the word hints at stopping or, “life is over as you know it,” it has a negative connotation. People associate it with being washed up or done and it’s a lie we’ve been told for years. So how should we approach this stage of our life?

A New Beginning

Many people ” retire” from their old jobs only to start a new one in a different field. Although this type of viewpoint is easier if you have savings, there are plenty of people who tackle changes in life by having a vision. Here’s a really good article from Kiplingers on the steps you can take to navigate your new beginning. One of the most interesting pieces of advice they give is to plan ahead, within five years of your target retirement or “second career” goal. The most important step is to pay off your debt and get into financial shape.

Acquire a New Mindset

The idea of retirement is undergoing radical change. Since too many of us have connected our identities to our careers, it’s no easy task to redefine ourselves. Can retirement be the third half of life? In this article from Forbes, being unable to let go of your former profession can be a real detriment. Organizations need to change their approach to retirees. Do they simply just say goodbye or retain a relationship and have access to that wealth of experience and knowledge? I think that society has a lot to learn on how to capitalize on this segment.

Supplemental Income

You don’t need to make your former salary or even work full-time. In the United States, many will keep on working, even part-time to get healthcare benefits. That is a whole different post. For others who are less concerned, a part-time job or second career can provide supplemental income to ongoing costs. The truth is, the idea of stopping earning doesn’t have to be today. You don’t have to retire from life!

Now What?

What did you do when you decided to retire? My next post will be a very personal one about how I’ve been struggling with this question since my kids have basically retired me since they’ve grown up!