Humans are creatures of habit. Each of us, to a greater or lesser degree, do the same things in the same way, every day. We get up at the same time, visit the same places, see the same people, eat the same foods and at the end of the day we sleep on the same side of the bed. There are some exceptions and, occasionally, we might surprise ourselves by doing things a little bit differently. But, as a rule, we find comfort and security in routine; often without realising it.
It should be no surprise then that when our habits and routines get thrown out of sync, such as when we oversleep, or when we are suddenly required to work from home due to a global pandemic, it can make us feel befuddled, affect our mood and we might feel stressed whilst we learn to adjust and adapt to a new situation.
So, imagine, for a moment, what it would feel like if, in a few years’ time, many of the habits and routines you have developed over your adult life were to stop overnight because you retire.
Sure, not having to set your alarm clock for work is appealing to most people. As is having the time to do the things you’d promised yourself you’ll do but couldn’t squeeze into a busy working life.
However, all the extra time you have is likely to come with lifestyle changes because your income may fall, and much of what is currently woven into the fabric of your daily working life; things which have built up over many years; certain routines, people, places, and activities, may possibly disappear. In short, the amount of change that retirement thrusts upon people is considerable and it can have a dramatic impact on your wellbeing. In fact, research by Age UK has found that around half of adults aged 65 and over have experienced mental health problems, such as depression and anxiety, with retirement playing a key role.
Fortunately, financial planning for retirement is increasingly common, but few people also spend time planning for how retirement might affect their emotional and mental wellbeing, or how they will adapt to the extra time and changes retirement will bring.
That is why Better with Money has developed a webinar called “Retirement in Sight”. Aimed at employees who are nearing retirement, it is full of ideas and guidance to help them plan what they want from this next stage of their life, understand where they are financially, and help them to navigate the transition to retirement when the time comes.
We spend a long time working towards retirement. By providing financial education in the workplace in an interesting and accessible way, Better With Money helps ensure that it doesn’t arrive as a shock and becomes the fulfilling, enjoyable next chapter of life that everyone dreams of.
If you would like to find out more about the courses Better with Money provides, please get in touch.