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Take care of emotional side of retirement

Nov 10 2014 06:00
Carin Smith

Cape Town - Retirement is an unnatural condition and the worst thing you can do is withdraw and become disengaged, according to medical and corporate development consultant Dr Woolf Solomon.

"Retirement planning must not only focus on the financial aspects without little regard for numerous other issues and stresses - both emotional and psychological and physical," he said at a retirement seminar hosted by The Wealth Corporation.

Some of the psychological factors people have to deal with when they retire include anxiety, a loss of identity, self esteem and status, the loss of a sense of purpose and feelings of sadness and even depression.

"Many people do not adjust well to retirement and this leads to illness and issues with wellbeing - many even start drinking more," said Solomon.

He said retirement wellbeing has three important pillars which interrelate, namely prosperity, health and happiness.

Aspects to look at in retirement planning must include finances, geography, medical, biological, psychological and social.

"Obtain guidance on whether you can change your career after retirement. Create a sense of identity and personal meaning in your life," said Solomon.

Decide where would be best for you to live when you retire.

"Is there, for instance, a place where it would be easier for you to make ends meet financially or which will allow you to pursue your interests, supports you socially and be supportive of your health," he said.

In his view it is very important for people to start a conversation about their retirement and about where and with whom they want to spend it.

"Think about what has been the meaning of your life up to this point and how you find meaning in your retirement to build a structure in your life to replace the work you used to do," he said.

- Fin24

retirement  |  savings  |  money
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