While many people look forward to retirement, not many fully realize how much of an adjustment it will be. According to the National Bureau of Economic Research, individuals on average experience a 6-9% decrease in mental health over the course of six years following retirement. (http://www.nber.org/papers/w12123.pdf)
However, you do not have to be part of this statistic.
Depression post-retirement usually occurs because of two main reasons: 1. Individuals often let themselves become defined by their career, leaving them with a sort of “identity crisis” following retirement. 2. Individuals don’t know what to do with the vast amount of extra time they now have in the day.
Both of these causes for depression can be avoided if enough planning goes into pre-retirement. While one often thinks of planning for retirement in a financial sense, the emotional side of retirement is rarely considered, even though it is extremely important.
If you’re working now, consider your life outside of work. Do you have one? If all of your daily activities and social life are work-related, you’ll need to make some changes. A good way to connect with others outside of work is to join local interest groups. Ask yourself what you are passionate about, and let that be your guide.
The average full-time work day lasts about eight hours. Eight hours of extra time in a day is a lot more than you realize. Although you may have post-retirement travel plans, remember that these are not going to fill that day-to-day gap. In order to do this, you’ll need to develop a plan for yourself. You should aim to have every day filled with hobbies, interests, and activities that are important to you.
