65 is a significant year for many. Those at this age usually retire from working and start taking it easy. They look forward to a life of ease as they review retirement options. However, there are many things that happen during this phase in one’s life. Retirement takes a financial, physical, and psychological toll. If a retiree is not careful, these effects could take a negative turn. If you’re up for retirement, be sure you review the effects so you can know what to expect.
As you would imagine, ceasing to work has a large effect on your bank account. Your lifestyle could change depending on how well you’ve planned for retirement throughout the years. Many folks who lived on rice and beans for years live quite comfortably in their later years. However, some people may have to work part-time to be able to afford retirement. For some retirees, they have to downsize in terms of living arrangements, transportation, and entertainment. Either way, it takes a thorough examination and planning to determine what the rest of your life will look like in retirement. See a financial adviser for additional help.
Not having to work anymore is quite the transition. Many people associate work with their calling and a sense of purpose. Without having somewhere to report to, they can feel a little bit lost. Common psychological effects include anxiety, depression, and stress. Lack of direction can cause stress for some but relieve anxiety for others. Stress may also emerge from financial strains and health issues in old age. Another common manifestation from retirement is defiance. You may revert back to your teenage years by staying up late and waking up late, spending the rest of your day in your pajamas.
You can counteract these negative effects if you find a way to remain engaged. Those who are married and continue a regular social life tend to fare better because of their security net. It’s advised that you develop a new routine for retirement and stick with it. Take up a new hobby or activity that you enjoy and remain busy. You’re less likely to become restless or depressed this way.
Another effect of retirement is what comes with old age. Your body begins to deteriorate and does not function as it once did. This is especially apparent when your activity and exercise levels drop. That’s why it’s advised that you sub these old activities with new exercises. See your physician about what exercise would be appropriate for you.
Generally, it’s advised to perform moderate aerobic exercise. Do this 3 to 5 times a week. Your brain, heart, and lungs will thank you. If you want to avoid fractures and falls, take up weight training. When you target your muscles and bones, your balance and flexibility will improve. Exercise overall helps you maintain a healthy weight. Diabetes, heart disease, and cancer are less likely to find you. As mentioned before, it’s important that you stay engaged in a meaningful activity. Exercise will allow you to stave off boredom as well as improve your body.
While retirement may come with adverse physical, mental, and financial effects, it has its merits. You have all the time in the world. Use it wisely as you take part of retirement options.