Coping with the Stress of Retirement

For those of us who have built our lives around work, the transition to not working can be stressful. When it comes to retirement, you likely won’t know how it will feel until you actually get there. What we do know is that more people are facing retirement than ever before. The World Health Organization (WHO), predicts that by 2030, one in six people globally will be over the age of 60, and this population is expected to double by 2050.

Retirement can be stressful, but identifying your sources of stress can help you take proactive steps to prepare for this significant life transition.

SOURCES OF STRESS

Your retirement-related stress may be tied to the way in which you retire, the change to your daily structure, the impact on your relationships, feelings of isolation and financial concerns.

— HOW YOU RETIRE. If you have to retire before you wanted to because of an illness, to take care of family members or because of a layoff, you may experience a lot of stress because you were not expecting it.

— THE STRUCTURE OF YOUR DAYS. The change of pace takes getting used to, even if you have set plans for classes you’ll take, trips you’ve booked and activities you’ll join.

— CHANGES TO RELATIONSHIPS. Many of your close friendships may be with colleagues; you may feel the loss of the connection that comes with working together.

— FEELINGS OF ISOLATION. You may have feelings of loneliness now that you’re not regularly connecting with others for work.

— FINANCIAL CONCERNS. Financial stress can increase in retirement, when people stop working and therefore relinquish their ability to grow their savings.

COPING WITH STRESS DURING THE PHASES OF RETIREMENT

According to Robert Atchley’s classic book, The Sociology of Retirement, there are seven stages of retirement, and depending on where you are in the “retirement life cycle,” the sources of stress may differ. We’ll discuss the first six phases to help you plan your retirement. People generally go through these phases of retirement in the order in which they are listed, but each person goes through them at their own pace, and some may skip certain stages.

PRERETIREMENT

This is the first stage; it usually takes place in the five to 10 years before you plan to retire, when most people start to focus on financial planning. This may mean downsizing to a smaller home after your children have left or planning for a change in where you live geographically. The stress associated with this time of your work life may be rooted in a generalized anxiety about getting or feeling older, wondering if you have enough money saved and not having a concrete plan for retirement.

— How to cope: Focus on making a clear and concrete plan for your future. Write down your dreams for retirement, or meet with a financial planner to see how realistic your goals are and take steps to make those dreams come true. It may also help to focus on healthier eating and living so that you plan for a healthy and long life in retirement.

RETIREMENT DAY

The second — and shortest stage — is the actual day of your retirement, which your organization and colleagues may celebrate. Many people look forward to this day as it marks the before and after of their work lives. And though the actual day may be celebratory, there may be stress related to setting the date and telling your boss and family. And if you feel like you’re being pushed out, this day may not be so celebratory.

— How to cope: Reflect on your career achievements, which may be the focus of your retirement speech or the goodbye email you send to colleagues. You can even do this just for yourself to feel a sense of accomplishment. Another way to make this day as positive as possible is to list at least three things for which you are grateful as you say goodbye to work and start a new stage of life.

HONEYMOON PHASE

In this third phase, you do a lot of the things you always wanted to but did not have the time or freedom: impulse trips to see family or to explore new places, fully indulging your hobbies or volunteering for your favorite cause. There is no determined length of time for this phase, as it really depends on your emotional and psychological reaction to retirement and all the activities you planned to do.

— How to Cope: This is the least stressful period of retirement, so soak it up. You love retirement and the new life you have worked so hard for and may have feelings of joy, satisfaction, excitement and achievement. To extend this period, it may help to journal your positive feelings so that you can refer to them when you need an emotional boost as you move through less positive phases.

DISENCHANTMENT

In this fourth phase, you start wondering if “this is it” for the rest of your life. The emotional high of the freedom to do as you please starts to wane and the downside of too much freedom and too little structure starts to kick in. You may start feeling anxiety about only spending money while not earning money. You may face yet another unplanned day with dread instead of adventure. You may ache for a goal or a sense of accomplishment.

— How to Cope: Focus on the things you enjoy about retirement and try to solve the parts that you don’t. Be proactive in connecting with friends and family to do things you enjoy together. Hobbies and volunteering have been found to improve both mental and physical health of retirees.

REORIENTATION

For some people, this fifth phase can be the most challenging, as it involves figuring out a new identity and starting to acclimatize to a new way of life. You want to be able to answer the perennial question about what you do without any anxiety and feel a sense of purpose in this new life you have created for yourself.

— How to Cope: To maneuver through this period, create a routine that works for you. You should also include regular meetups with friends and family to be socially connected and to boost your emotional resilience.

STABILITY

At this point, you have settled into a life that gives you feelings of purpose and fulfillment. Like everyone else you will have ups and downs emotionally and psychologically, but you also have ways of dealing with these changes without much trouble.

— How to Cope: Lean into the coping strategies that work for you that you developed in the earlier stages. Keep these strategies in rotation as needed.