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The Emotional Effects of Retirement

The Emotional Effects of Retirement. Presented by: Steve Conway. Date: April 24, 2012. The EFAP is available 24/7 from anywhere in North America English 1-800-663-1142 French 1-866-398-9505 TTY 1-888-384-1152

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The Emotional Effects of Retirement

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  1. The Emotional Effects of Retirement Presented by: Steve Conway Date: April 24, 2012

  2. The EFAP is available 24/7 from anywhere in North America English 1-800-663-1142 French 1-866-398-9505 TTY 1-888-384-1152 Online: Visit www.humansolutions.ca for more information, articles, and e-courses

  3. Transitions framework Values-based planning Creating a personal vision Self-managed change Overview

  4. Questions for discussion: How far away are you from retirement? (do you have a date in mind) How prepared are you feeling with regard to retirement? Do you have any concerns or worries about retiring? Introduction

  5. If we think of life in terms of thirds… Humans and change: complex relationship Retirement as a life transition

  6. What activities did you used to do? What activities have you sometimes contemplated taking up…if only you had the time? What are some personal goals you have? (outside of work) Voluntary work/part time work/contract work… Filling your day…

  7. Take a moment to reflect on where you will be five years into your retirement: Where are you living? (describe in detail) Who are you with? What are you doing? (be specific) What is a typical day like? How do you feel? Your ideal retirement

  8. What to expect… • Potential losses • Job • Group to belong to • Social interaction • Identity • Reputation

  9. What to expect…(cont’d) • Changes in your primary interpersonal relationships • Time • Expectations • Role definitions

  10. What to expect…(cont’d) • Emotional cycle of retirement • Pre-retirement (disengaging, planning, anxiety about the unknown) • Honeymoon (can be busy and active or characterised by relaxation) • Disenchantment (disoriented, anchorless) • Reorientation (take restock at 2 yrs) • Routine

  11. To help lead a fulfilling life consider the following five areas when deciding how to fill your time when retired… Social Physical activity Mental Creative Spiritual Five point approach to life

  12. Activity: Values and Relationships

  13. Retirement Objectives What do you want to do with your time? Where do you want to live? What do you want to be able to do financially? Priority challenges Actions for tomorrow Overall timeline (actions and target dates) Creating a personal vision

  14. Study questions • What is the worst thing that could happen to you? • What can you do - to prepare yourself for these things? Remember that the 60s decade generally is characterized by intense loss. We all have to face it - the question is how? • What kinds of support do you value most in times of trouble? • If you can't have your first choice vision for retirement, what might a quite different, but almost as rewarding, vision be? • How much does the possible threat of an uncertain future bother you? What is it about you that makes it difficult, and where does this come from? • How will the much touted "information highway" change things by 2015? What skills and practices might you want to nurture so that you can both have fun and avoid being out of control?

  15. Study questions…(cont’d) • How will our health care system change? What implications does this have for your financial planning and choice of home? • John Naisbett's Megatrends 2000 suggests that we're entering a new era of spirituality (broadly defined), and search for community and meaning. Has this affected you already? How will these societal and personal trends play out over the next 15 years? • What kind of a person are you when it comes to change? Do you tend to feel overwhelmed and out of control? Will this tendency grow as you get older? Might this be a priority for you to work on now? • What do you think will happen to Canada's economy over the next fifteen years? How does this affect your financial and lifestyle planning?

  16. Summary What are the keys to planning your retirement?

  17. Suggested readings (cont’d) • Zelinski, Ernie (2008). How to Retire Happy, Wild, and Free. Visions International Publishing. • Bridges, William (2001).The way of transition: Embracing life’s most difficult moments.Perseus Publishing. • Cantor, Dorothy. (2001). What do you want to do when you grow up?: Starting the next chapter of your life. Little Brown & Co. • Fetridge, Guild A. (1994). The adventure of retirement: Its about more than just money. Prometheus Books. -- Covers a wide range of retirement issues from leisure time to health. • Hudson, Frederic M. (1999). The adult years: Mastering the art of self-renewal (revised edition). San Francisco: Jossey-Bass. -- The Bible when it comes to wisdom about how we make transitions in our personal lives, and what to expect as we grow older in terms of changing values and priorities about how we live our lives. • Hunnisett, Henry S. (1993). Retirement guide for Canadians. North Vancouver: Self-Counsel Press. • Johnson, Richard. (1999) Creating a successful retirement : Finding peace and purpose. Liguori Publications. The real keys to a fulfilling retirement are maintaining good health, lots of friends, a close family and varied interests and activities..

  18. Suggested readings • Kofodimos, Joan (1993). Balancing act. San Francisco: Jossey-Bass.An in-depth analysis of the major conflict between work and personal values, and a strategy for taking charge to balance your life better. Perhaps more detailed than you need, but thorough and insightful. • McDougal, Bruce. (2001). How I stopped worrying about retirement (without alcohol, nicotine, caffeine or other artificial stimulants). Toronto: Prentice-Hall Canada. Practical advice and heart-warming anecdotes about saving for retirement and living a good life. • Smith, Mary Helen & Smith, Shuford. (2000) 101 secrets for a great retirement: practical inspirational, & fun ideas for the best years of your life. Los Angeles: Lowell House. • Wagner, Tricia & Day, Barbara. (2002). How to enjoy your retirement: Activities from A to Z (2nd edition). VanderWyk & Burnham. • Warner, Ralph E. (1996). Get a life: You don't need a million to retire well. Berkeley, CA. Nolo Press. • Yogev, Sara. (2001).For better or for worse…but not for lunch: Making marriage work in retirement. Toronto: Contemporary Books.

  19. Continue your learning eLearning courses at www.humansolutions.ca • Resilience • Responsible Optimism • Embrace workplace change • Take Control of Stress • Take Control of Mood • Take Control of Job Loss and Transition • And more

  20. Don't simply retire from something; have something to retire to.  ~Harry Emerson Fosdick

  21. Retired is being twice tired, I've thoughtFirst tired of working,Then tired of not.~Richard Armour

  22. Retirement:  It's nice to get out of the rat race, but you have to learn to get along with less cheese.  ~Gene Perret

  23. The EFAP is available 24/7 from anywhere in North America English 1-800-663-1142 French 1-866-398-9505 TTY 1-888-384-1152 Online: Visit www.humansolutions.ca for more information, articles, and e-courses

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