Few people make the transition to retirement successfully

Having a solid plan for retirement will make the move from work to the next part of life much easier.
Having a solid plan for retirement will make the move from work to the next part of life much easier. jacoblund

IN CHATTING with a client the other day - a man in his early 60s, an expert in his field as a go-to troubleshooter in an international multi-million dollar business and dedicated to his work - I asked him what he thought about retirement.

It had come up in our conversation and he acknowledged that it was a real option for him now.

His response was direct and honest.

"It's bloody scary," he said and went on to describe how he got up every morning with purpose and intention.

He relishes the challenges with people and technically that demonstrate his skill. He is a man who has lived a life committed to doing his job as well as it could be done.

He identifies strongly with his role and the respect that he has earned.

Soon, at a time of his choosing, he will separate from all of that and then what?

What are your plans for when you "retire"?

If you have a well-organised strategy to transition from the role you are in now to the next stage of your life, and have a freedom of choice as reward for all of those years spent working, well done.

Few people are in that position.

Even though they may have funds invested, and property and super set up, the plan is not developed.

If you have a plan then that makes you one of a small percentage who will carry retirement out successfully.

When I asked him about his plan, he had a good idea of what he wanted to do but nothing was concrete.

It was as if, because the event itself was still not "real", he would get to it closer to the time.

There are a couple of things to consider if you are in a similar situation.

When you finish this part of your life everything changes. Everything.

Your identity changes if you have become so involved in who you are at work that you have lost sight of who you are without it. You have to consider how long you think you are going to be around and how sensibly you have set up your investments and super, and balance this against the regular income that allows you to buy things, fix things, renovate, travel and upgrade.

What is going to be worth getting out of bed for in the morning?

What will make the change not a "retirement" but an evolution as you take on the next stage of your life?

Nick Bennett is a facilitator, performance coach and partner of Minds Aligned.

Topics:  mental health mind you retirement weekend magazine

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Tour gives a valuable ag insight

FIRST-HAND: Withcott Seedlings compliance manager Joe Shiels talks to participants of the the pilot AgWork tour.

The pilot AgWork tour was held last week.

Lake Clarendon says no way to bullying

STAND TOGETHER: Principal Susan Wright and school captains Xanthea Kugel and Felicity Boon with the anti-bullying pledge.

Take a stand and say 'No way!' to bullying

Jackson finds his family at Lowood High

STUDENTS' BESTFRIEND: Lowood State High School student Sophie, with the school's beloved assistance dog, Jackson.

Lowood High's fifth school captain is a little different.

Local Partners