How do you “squeeze all of the juice” out of retirement? Today, many of us will spend one-third of our lives in retirement. Knowing how to prepare for it – psychologically and financially – will be crucial to ensure we make the best use of the time.
In his TEDx talk, “The 4 phases of retirement”, Dr Riley Moynes shows how there are four distinct phases to retirement (which most of us move through). The transitions are not always “smooth” or easy to navigate. Knowing what to expect from them can be enormously helpful.
Phase I is the “vacation phase”. Here, you have little/no set routine and do whatever you want. This forms many people’s ideal view of retirement. Yet it rarely maintains its lustre, eventually leading to boredom after a year or so.
Phase II is when we start to experience loss in retirement (identity, relationships and purpose). This is difficult to process for many people, but is a crucial stepping-stone towards the more enjoyable third and fourth phases.
Dr Moynes goes on to paint a beautiful picture of how people move out of this quagmire into a life of meaning in retirement. Those who reach Phase IV, in particular, are amongst the “most happy people you could meet”.
Interested in finding out how to reach it? For a hint, much of the answer lies in finding activities that give you a sense of meaning. Almost always this can be found in servie to others.
We commend this 13-minute video to you!
