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Editorial: Why Most People Should Never Retire

By: Arif Halaby | Total Financial Solutions

When we think of retiring, it often conjures up images of sitting on a porch, maybe in a rocking chair or a chair swing.  Maybe for some, it is a day of sleeping in then drinking their tea or coffee by a fireplace. We think this gives us a sense of achievement or accomplishment. But the truth for many Americans is far from that place.

For many retirees, the day is filled with a sense of loneliness and a lack of self worth. I have noticed a pattern developing over the last few years.

For many people that retire, they do not have a sense of value to offer to others. Even if the retiree has enough money to travel or help out the grandkids, there is still little interaction with others. Many of their friends can’t afford to travel or just ‘hang out’ during the middle of the day.

Hobbies Before You Retire

I believe it is very important to have a hobby or activity that you do BEFORE you retire.  This allows an easy transition to a full-time hobby lifestyle. The problem is that for many Americans, they do not spend time developing a hobby or an activity that can fill their day and add to a sense of belonging.

They wait until they retire, and I believe that’s too late. It is also very difficult if the husband and wife are not retiring at the same time.

I have seen a level of resentment that usually goes both ways. For the retired spouse, they are often jealous of the day-to-day social interactions and work relationships of the working spouse. For the working spouse, the stay at home partner is seen to have “the perfect life”.

Going and coming as they please. Communication about expectations and responsibilities during this period of time is very important. The sooner you begin this dialog with your partner, the better. I recommend starting to talk about the details at least a year before the first one retires.

Spousal Expectations

Discuss what is expected of the ‘new’ stay at home spouse.  For example, it may be having dinner ready when she comes home or doing a greater amount of the household chores.

Retirement: Bottom Line

Retiring is not just a destination, it is a journey that can be filled with a second career, volunteer opportunities or just more time to spend with hobbies and families. But in order to enjoy this journey it requires planning and constant attention so that both of you can never regret the decision to give up the commute.

Editorial: Why Most People Should Never Retire

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