Senior Spotlight: Unretirement Planning

You’ve heard that if something sounds too good to be true, it probably is, right? A new read from Yahoo! reveals that sentiment holds true for many Baby Boomers who finally have the time and resources to live out their retirement dreams – but find they are falling short when it comes to happiness. While it seems counterintuitive that retirement could bring anything but joy, many older adults struggle with a sense of loss, purposelessness, depression, loneliness and boredom. 

Data supports the reality that retirement is not always a happy occasion. The National Library of Medicine published the results of the ‘Prevalence of Depression in Retirees: A Meta-Analysis’ in 2020. Findings included the statistic that almost 1/3 of retirees suffer from depression, and the highest prevalence is among those who faced a mandatory retirement or had to discontinue working due to illness. 

The question begs, if retirement doesn’t necessarily bring happiness, what does? Industry experts assert a few new ways to frame retirement, while studies suggest a few actions items to reduce depression rates. 

Reframing Retirement

- Think of the post-working years as an ‘un-retirement’ 

- Don’t expect travel and family visits to fill all of your free time 

- Consider the three building blocks of: fascination, flow & generativity (more on that here) 

- View retirement as a chance not to NOT have a roadmap – but to design your own 

- When you retirement plan, don’t make only a financial plan but strategize a holistic life approach 

- Think about how much more you still have to give – and where & how you want to give it 

- Don’t only pursue what’ easy, follow what challenges you and changes you for the better 

Reducing Depression 

- Acknowledge that a forced retirement or one due to illness requires extra support 

- Note the importance of engaged healthcare workers and committed family members is diagnosing and managing depression in older adults 

-Plan for a phased retirement rather than ‘hard stop’ if you can, as sudden & major adjustments are the hardest to navigate 

- Make sure un-retirement plans are intentional, and include areas of interest and purpose 

- Create a safe space for retirees to talk about the sense of purpose they feel; normalize communication about things that are hard and even embarrassing 

- If initial retirement plans are not fulfilling, don’t be afraid to re-balance (multiple times!)

Do we still want you to look forward to retirement? Absolutely! Do we hope you approach this exciting chapter with realistic expectations and permission to give yourself grace? 100%. 

If you have any tips of what action items and thought processes supported your own transition best, we’d love to hear them!

Best wishes,

Bobbi 

Related Resources: Unretired: How Highly Effective People Live Happily Ever After; Pew Research Center

Bobbi Decker
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www.bobbidecker.com

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