Retirement - An emotional journey?

The impact of retiring can be significant, and few of us understand this until it has happened.

Let’s not be pessimistic about this, no longer having to work presents us with freedom to do what we want with our time that we have probably not experience for a period of around 40 years. Jobs around the house and garden that we have been putting off can be done. There is time for the family, travel, holidays, study and a whole plethora of different opportunities denied to us due to a lack of time.

In addition, being of a certain age affords the opportunity of being able to take advantage of discounts relating to travel, such as senior citizens rail cards. With a bit of investigation via the internet you will be surprised of the number of deals available that can be had for retirees.

Thing that retirees tend to miss though, are the social side of work, lack of status and structure to their days. Some people deal with this by taking on part time jobs or getting involved with charity work post retirement.

The message that hopefully is emerging here is, as with all things in life, planning helps and deciding what you want your life to look like post retirement needs careful consideration and thought in order to ensure you get the very best out of possibly the longest holiday you will ever have.

Organisations such as the University of the Third Age are well worth investigating, as are Age UK and Age Concern in matters of support and guidance.

In terms of your finances it is worth obtaining a projection of your state pension if you do not know what it is. This information can be obtained via the Government Gateway website or by printing off a BR19 form from the internet.

It is also worthwhile speaking to a good independent financial adviser who specialises in both pre and at retirement advice, and who understands the impact of retiring and can factor this into a holistic retirement strategy that meets your particular needs.