What is retirement really like? – The reality
Reaching retirement comes with a sigh of relief for many; you’ve spent the bulk of your working life saving for it, and now’s the time to put your feet up and enjoy the down time you deserve. From cancelling your daily 6am alarm to knowing you’ve got bundles of time to engage in your favourite activities, it’s no wonder that the first few weeks of retirement are something of an exciting whirlwind.
For many people, the typical 9-5 working life requires leaving the house at 8am and returning home at 6pm, after enduring a full day of hard work. By the time you’ve had dinner and prepared yourself for the following day, there’s little time for anything else – except heading to bed and getting your eight hours. Inevitably becoming monotonous for some, the idea of a life free from this routine seems nothing short of bliss. And yes, initially, envisioning getting those ten hours back each day to take part in your favourite hobbies feels like the ultimate dream – but what’s the reality?
The reality of your first few weeks of retirement is very similar to how you might envision it. Many new retirees describe the start of retirement as feeling extremely similar to being on a two-week holiday. The main difference, however, is having the knowledge that they won’t be going back. Before you retire, do make plans regarding your finances and make a list of everything that you’d like to achieve – but make sure not to overdo it. Enjoy the first couple of weeks – and then begin making plans about your day-to-day life.
As you’ll be adapting to an entirely new lifestyle, it will be necessary to make adjustments to important relationships. The working day separates many couples for a significant portion of their week – with many only seeing each other in the early morning and evenings. Whilst it is a lovely idea that you’ll be spending more time with your loved one, the personal space that working naturally gives you is suddenly eliminated upon retirement. You’ll likely get to a stage where you need some space from your partner – so plan your weeks around taking time out with friends, or engaging in some hobbies on your own.
Financially, many people who retire neither feel significantly more or less wealthy – they feel comfortable and settled. It’s natural to feel worried or scared when your regular income stops; but there are many ways to work around this, and prevent this from happening. Read our previous article about saving money during retirement for more advice.