How to survive retirement? What are your plans for retirement? If you ask these questions a few months or a year before your retirement, would you say something like, take a nap every day, go on vacations, or maybe nothing?
Before the big day, we are confident we have the answer to how to survive retirement. But do we know how we will make it?
Preparing For Retirement
You took a hefty chunk of money out of your paycheck each month to prepare for the sought after heavenly retirement. And the financial planner assured you this would be enough. But when the time comes, you need a million or more in a retirement fund, and you only have $750,000.
You needed to have your house paid off, but the kids’ colleges didn’t allow for that. So you head off for retirement with a house payment in tow.
You still dream of taking vacations and spending time doing all the things you love. But what are the things you love? Do you have hobbies or was work what you did all of your life?
The Big Party
Your day has arrived, and the whole office came to help you celebrate. Your dreams for retirement is about to come true.
You worked at this firm for 40 years, so you have a good pension and with your social security things will be fine. People you have known for 20 years came to help send you off. The emotions are high. Some are jealous, and others are excited for you.
After the workday is over the celebration continues for a couple of weeks. You get to sleep in, go out with buddies, play golf and watch football any time you like.
After a couple of weeks, you realize all of your buddies are still working and can’t go out any time of the week.
Adjust To Home Life
You have lived in your home most of your adult life. You and your wife raised your kids here. What do you mean adjust?
Your usual routine is to spend most of your time at work with co-workers and friends. You and your wife see each other most days and on the weekends. Now you will see each other 24/7. Right about now you are wondering how to survive retirement?
It takes time to work through the new routine and learning to respect each other’s time and space. You build new boundaries and learn to live with the love of your life in a new emotional environment.
Who Are You Now?
All of your life you worked at a steady job. You identified yourself with your work. Your job is who you were. Or was it? You are a person who thought of yourself as your work. Now you no longer have this job.
You will go through a crisis identity stage. Who are you now? What is your purpose in this world? You can no longer identify who you are with what you did for work.
You have to develop your new identity which involves you and not what you do for a living.
Best Laid Plans
Once you retire, you have limited income. You see that your retirement fund is not enough and if you start using it now, you will run out.
You love going out to eat, but now you have a budget that only allows eating out one time a week.
You have to start watching every penny. You know you will adjust and learn your new lifestyle but until you do your dreams of retirement are shattered.
The plans for 2-3 vacations a year are no longer a reality.
How To Survive Retirement
There are different ways people adjust to the phases of retirement. You can volunteer, go back to your old job and ask for part-time or go to another job and work part-time.
Working is not just about money. It is a way to build your self-esteem and feel needed again. A job helps to clear your head and allow you to be around people. It is kind of like a community to keep your mind off of the feelings of self-neglect and boredom.
I know exactly how you feel. My husband and I retired seven months ago. He adjusted better than I did at first. Or he says he did well. But that is not what I saw. He was depressed and detached. He was in his head and had no awareness of his surroundings.
I, on the other hand, missed talking to people and interacting. I lost my quiet time when he was at work, and I had a day off. I missed the organization of my home.
Needless to say, retirement was a significant change for both of us. We had to find something to do to occupy our minds, occupy or time and create some extra income.
He began reading health books on diabetes and nutrition, exercising every day and investing.
I began an online home affiliate marketing business.
As we took a good look at how to survive retirement we could adjust.
You may wonder what affiliate marketing is. Possibly you have heard a bit about it, but you have never done an online business.
Let me explain briefly what affiliate marketing is.
Affiliate marketing is like the diagram I made here. You the advertiser (owner of a website) promote a product that a company has. It is a circle of you, your affiliate partner and the consumer.
I will use Amazon as an example of a company.
You become a partner of Amazon through their amazon associates affiliate program a free program.
When consumers search on Google, they find your website
The consumer purchases a product on your site (that is linked to Amazon) and Amazon associates pay you a commission.
It may sound a bit complicated if you have never done affiliate marketing or do not know much about the internet. But I assure you it is a business anyone can do with the right training and support.
My #1 Recommendation For Surviving Retirement
At the top of this article, you see a box with an eBook. Suppose you want to learn more about setting up a business online; just put in your email address and download my book. I talk all about affiliate marketing. Once you finish that, I will break it all down for you and send you weekly emails with information on how to get started. You can earn a passive income online from home.
I also offer an alternative way to learn. I learned all I know from the Wealthy Affiliate Platform. You can sign in and set up an account with WA. I will be your personal mentor, as well as the full support of a like-minded community.
When you sign into Wealthy Affiliate Platform, I will receive a notification and send you an email. You can reach me by responding to that email. On the inside, I am your personal mentor and here to help you succeed whenever you need me.