5 Big Reasons NOT to Retire explains that retirement is not as good for you as the hype suggests. Your physical health, mental health, current job enjoyment, potential to find your dream job, and level of vulnerability are all improved by avoiding the leisure model of retirement. A better strategy is to find something you love and to do it for pay in a way that lets you enjoy your life now AND later.
Copyright (c) 2009 Mary Lloyd
A lot of us are lamenting our lost retirement. It's real. This is not just a momentary hiccup in our financial planning for what's "supposed" to come next. This is the Titanic in terms of retirement plans.
People survived the Titanic. We can survive this. It's not just a matter of getting used to the idea of living a diminished later life though. We need a whole new direction. And that is a very good thing.
I'm not going to bother you with how you working longer benefits the nation and brings you more money. I'm not going to remind you that staying employed usually means better health care coverage. Here are five other reasons why staying in the workforce is better.
NOT RETIRING IS BETTER FOR YOUR PHYSICAL HEALTH. People who continue to work stay healthier than people who retire to a life of leisure. Working gives you a sense of purpose. And purpose is good for you.
In a study of 900 aging religious, those with a strong sense of purpose lived life to the end with no sign of Alzheimer's disease even though posthumous brain studies found the lesions characteristic of it. A study of 12,460 middle-aged Hungarians found those who believed their lives had meaning had lower rates of both cancer and heart disease. A retirement of drifting from thing to thing at leisure isn't an automatic ticket to good health.
NOT RETIRING MAINTAINS YOUR EMOTIONAL HEALTH. Work is one of the best sources of self-esteem available. If you are good enough at something to get paid to do it, that's strong evidence of your worth. Most of us don't realize that's important until after we let go of it. Then we struggle to figure out why we are feeling "empty." We need to work. If not for pay, then in some other context.
NOT RETIRING MEANS YOU DON'T HAVE TO HANG ON TO A JOB YOU HATE. If you aren't planning to use your employer's retirement benefits anyway (assuming there are some), there's no reason to keep doing a job that drains you. But it's tempting to tolerate a bad job fit or a boss that is literally making you sick in the name of "making it to retirement."
If your job sucks and you're going to have to work for as long as you live, for heaven's sake go out and find one you like. It might take some time to pull it off, but you still won't be there as long as if you hung on until you could retire.
NOT RETIRING GIVES YOU MORE ROOM TO FIND YOUR DREAM JOB. Let's face it. When it comes to work, it takes most of us some time to figure out what we like. I know at lot more now than I did when I was forty. As you learn what lights your fire, you can move toward that kind of work IF you aren't telling yourself that you'll be "done" soon and into the retirement thing.
There are people well past eighty, in excellent health and fully engaged, who attribute their vitality to the fact they love their work. A local lawyer is 99 and still goes to the office. But not all day every day. Having a flexible work set-up can be part of the dream job, too. Maybe yours can be done from home or in alternate weeks, or using a WiFi connection from Maui. If you know you're going to have to work forever, finding something you love is essential. Also more exciting.
NOT RETIRING MAKES YOU LESS VULNERABLE. Not working can leave you vulnerable a lot of ways. You're vulnerable to becoming isolated. You're vulnerable to having your income stream dry up. You're vulnerable to having way too much time on your hands, particularly if you lose a spouse or companion prematurely.
It's easier to get a few more hours--or take on a second job for a while--if you're already employed. And for people who need people, the work setting is full of them.
The biggest lie of the traditional approach is that retirees are privileged to not be able to work. That's not how it started and not why it continues. Retirement is a subtle, socially acceptable form of ageism. "Here's some money. Now get out of the way." Nobody cares what you do or even if you do it after you retire. You've rendered yourself irrelevant. BAD plan!
Instead, find a way to work that's fun. Work at something you believe in. And find a work style and employer that make you feel you have a life not just a job. Retirement is a bad idea. Find what you love and thrive at it instead.
Pre-Retirement Financial Strategies -- Learn (or Relearn) to Cook
Cooking your own meals isn't usually high on the list of how to insure your financial future. But the cost savings might surprise you. Plus you get to learn (or relearn) something that gives you a practical way to be creative and to treat yourself well. Making a meal doesn't have to involve every pot in the kitchen. Buy what's in season and what's on sale. Plus then we you go out to eat, it's more of an event as well.
How to Say No
How to Say "No" offers practical ideas on why, when, and how to say the most difficult word in the English language--"no." The article offers three rules: be honest, be authentic, and stay the course, and encourages the reader to assess whether "no" is the right answer early on and to look for the right reasons to say both "yes" and "no."
