Seven Ways to Approach Retirement Challenges

Sally Abrahms

Shortly after he retired, my friend attended a cocktail party. He had been head of a high profile company in town. A guest who knew he looked familiar but couldn’t place him asked, “Didn’t you used to be somebody?” He laughed when he told me. “Does that mean I’m nobody now that I’ve hit retirement?”

For some, work defines them or how others see them. Interacting regularly in a job can provide friendships, a common goal, and a sense of identity. When that’s gone, there can be feelings of loss and soul-searching.

Does this sound familiar? You’re not alone. Approaching life as a retiree isn’t always easy so we’ve pulled together strategies to help you cope with common challenges in retirement.

Who am I now and what do I do?

Whether you can’t wait for the day you are gainfully unemployed or you are a surprise retiree, one thing is certain: Retirement is changing. Better medicine and health has led to greater longevity—on average, providing 20-30 extra years—than in the old days.

“Our research repeatedly shows that retirees are shocked at just how long retirement actually is. No longer is it a few short years of golf, beach walks, and bike rides. Today we are talking decades,” says Joseph Coughlin, director of the AgeLab at the Massachusetts Institute of Technology and author of The Longevity Economy.“Retirement is no longer simply about relaxing.” Many people are finding that, after a while, something is missing.

“People of all ages seek lives of meaning and purpose,” says Paul Irving, chairman of the Milken Institute Center for the Future of Aging. That’s never been truer than for older adults today who talk often about “leaving a legacy” and “making a difference.” Read Full Article