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Retirement Viewed as an Art Form
By Stephen J. Butler |
 Archives |
My father, during the first few days of his retirement twenty years ago, experimented with the concept of sitting down for lunch and waiting for Mom to make him a sandwich. Needless to say, the experiment failed. He had been emboldened, I suspect, by the visit to his mailbox where he had opened his first social security check and declared, "I'm rich. I'm rich!"
Many similar examples illustrate the degree to which people have to struggle to adapt to a life without the structure and identity provided by a daily job and career. The financial services industry would like working people to think that financial needs will be the major preoccupation for retirees, but those who study the subject say that there are more pressing issues. Finances may be one of the factors, but it need not be the deciding factor.
A book called, "the Joy of Not Working" was written by Ernie J. Zelinski. This book starts with the premise that people have difficulty in handling spare time. According to Zelinski, the U. S. Department of Commerce reports that only 58 percent of people are experiencing "a great deal" of satisfaction from how they spent their leisure time. This means that 42% find that retirement is not meeting their expectations. Of the 42% who are married, we can assume that their spouses feel the pain as well. It's no secret that newly-retired husbands under foot all day can drive their wives nuts.
If a lot of people are unhappy in retirement today, imagine how large that number will be when the demographic bubble of baby boomers end their careers and struggle with the transition. Contemporaries of mine in their late fifties are flirting with the issue now and beginning to plan. A successful retirement doesn't just happen. It is the result of informed decision-making coupled with an appreciation of retirement's importance as a milestone in life.
"Idle hands are the devil's workshop" and the devil in this case can often be depression. Prior to retirement, most of us embrace the culture of "workaholism." We make good money and our hard work provides us with at least one cornerstone of our identity. In the course of human evolution, hard work is a relatively new phenomenon. Greeks didn't have a term for what we call work today. European peasants in the Middle Ages had 115 holidays a year. More recently, Peter Lynch, the star manager of Fidelity's Magellan fund, ruined everything at his company by coming to work on Saturdays. What a bummer. Within a year, anyone trying to make it in that organization also had to be toiling away on Saturdays.
Working hard, then, is so ingrained in our culture that it is difficult to just turn off the inclination at some magic retirement date. To gain a grasp of what needs to be digested, we can start with the course outline for a typical retirement skills class.
First, there is a comprehensive look at what retirement actually is. Gaining a true perspective can present surprises for many people. Next, there is the treatment of social security and personal finances. How to make the most of what you have is the key to this section. Activities in retirement is the next topic, and this explores the wealth of possibilities including many that have never been considered. Health in retirement is the next topic, and this includes a comprehensive discussion of insurance and long-term care. Finally, there is the seminar on achieving happiness in retirement.
Retirement is a challenge that can blindside many who fail to prepare. Emotional preparation is probably more important than the financial issues for many people. An entire industry of financial services and $50 billion of annual advertising reminds us of the need for financial preparation, but when it comes to the emotional side, we are peering into the abyss.
If you are approaching retirement, then, don't get caught flat-footed. Look for courses that focus on the emotional side of the equation instead of just spending time at all those "free" seminars conducted by financial planners.
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