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What Are The Five Stages Of Retirement?

Retirement is a time of the person’s life when they leave behind work and enter a life of fulfillment and leisure. As you are going to transition to a different way of living than your previous, more busy schedules, you may find it hard to pass the extra time you have on your hands.

It is increasingly hard for some people to switch off from the work mode that they’ve been accustomed to for 45-50 years of their life. You might feel anxious while spending time at home and often miss working, spending time with your colleagues, and just your social life.

Still feeling Anxious? Well, think of it this way, you can still utilize this time efficiently and make positive changes to your life by doing the things you’ve always wanted to do but couldn’t take out the time or money for. Learn new things, spend time with your family and friends, join clubs, and even travel.

There are five stages of retirement that can sum up the different emotions of retirees from before their retirement to after retirement feelings; you go through an array of different emotions.

First stage: Pre Retirement

This is a stage that begins around 5-10 years before retirement. During this stage, people seriously start saving up for retirement and planning financial matters. During this time, you need to ensure you set goals around how much you want to save during the years leading up to your retirement.

You can use the best retirement calculator for this purpose. Your goals should revolve around the type of life you want to live, where you want to live, what you need to do to achieve that standard of living you wish to have, and most importantly, make investment decisions for a continued income after retirement.

You need to shift your focus from expanding your career to saving more. Many people enjoy this time in anticipation of the free life that is ahead of them. However, it is equally important to plan mentally and emotionally for a big change so that the transition can be smooth and not too overwhelming.

You can emotionally plan by making realistic decisions such as downsizing and any practical decision that might help you adjust better and manage finances in a more economical way.

Moreover, keeping your financial situation in mind, choose to pay off debts and go for a simple lifestyle to ensure your savings don’t run out before your lifetime.

Second stage: Full retirement

Full retirement, or as often called the honeymoon phase, is the beginning phase of retirement and can last for one or two years after retirement. It is the freedom phase where you are excited about the adventures of your stress-free life.

You no longer need to follow your work routine. It is a time for you to finally focus on yourself, reconnect with family and friends, find new hobbies, take out time to travel, and even a chance to think of new businesses to start. This phase varies from person to person as for every person; relaxation has a different meaning.

Some may travel and explore new places and go on relaxing trips with families or friends, while others immediately settle into their new lives and work on their routines, enjoying moments of calmness and living a still life after years of struggling through busy schedules and business meetings.

Third stage: disenchantment

After the excitement wears off and you start to have more free time than ways to utilize it, you may start to feel uneasy and discontent.

You might not want to sit idle any more, especially when your family and friends are busy with their own lives. You may start to miss your job and start feeling incomplete or uneasy.

This is a very difficult stage as it can emotionally drain you no matter how much emotional planning you may have done beforehand.

This feeling can leave you with loneliness and, in extreme cases, even depression. Therefore, it is extremely crucial to keep yourself busy and regularly talk to your family and friends.

Fourth stage: Re-orientation

The third stage is temporary and will eventually be followed by a more progressive stage where you start to adapt to change and start finding yourself. This is the time to pick up long-term hobbies, for example, golfing, cooking, etc., develop a new skill, or work on a new business idea.

This is the time when you are ambitious, and with your background of working for 45 years, you may use your expertise to start a business, as you’ll have all the time you need to work on a successful business idea. Moreover, you can do volunteer work if you are passionate about it. The options are endless!

Once you discover yourself and find what you truly want to do, you can begin enjoying your retirement again. Get a distraction from depression and finally move on to enjoy yourself.

Fifth stage: stability

This is the final stage of retirement. It can take you up to 15 years to get to this point, but when you do, you will be more content than ever. You will have emotional and financial stability, a simple, relaxing lifestyle, and a positive outlook on where you are in your life. You find yourself settled into your new routine doing things you love.

However, in this stage of life, you need to be extra careful about your health as old age brings with it deteriorating health. Taking care of yourself should be your priority; spend more time with your family and friends and try to get the most out of your days. The positivity during this stage can lead to a feeling of a fulfilled life.

Just like anything in life, retirement comes with its own struggles and an array of emotions. While you’re ready to finally take a break and catch a breath, you are reminded of your past life.

Every person has a different experience of retirement, different emotions, different circumstances, and so not everyone feels these emotions strongly. It is, however, important that you plan wisely for your retirement future, both emotionally and financially; to help with the overwhelming emotions you may be feeling. The best thing you can do if you’re at any of these stages of retirement is to spend time with the people you love and live your life to the fullest.

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