How to overcome retirement anxiety | abrdn (2024)

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How to overcome retirement anxiety | abrdn? ›

It may stretch over a week or two, but it typically involves a short period of time. It is a rite of passage. But some important emotional, psychological, and physical changes take place almost immediately.

It may stretch over a week or two, but it typically involves a short period of time. It is a rite of passage. But some important emotional, psychological, and physical changes take place almost immediately.

You may worry about managing financially on a fixed income, coping with declining health, or adapting to a different relationship with your spouse now that you're at home all day. The loss of identity, routine, and goals can impact your sense of self-worth, leave you feeling rudderless, or even lead to depression.

2. On average, 63 is the ideal age for retirement according to both retirees and pre-retirees. While current retirees are hitting close to that mark with an average actual retirement age of 62, there are signs that future retirees could have more difficulty retiring at their ideal age. a.

Both new retirees as well as those who have been retired for years can find themselves feeling lost or stuck. It's OK to ask for help. If you're feeling depressed or you'd like to talk to someone, it may be time to reach out to a mental health expert.

Many older adults worry about how they're going to afford to live in retirement. They may be concerned about running out of money, not being able to afford healthcare, or not being able to maintain their current lifestyle (or achieve their dream retirement lifestyle).

Retirement syndrome can take a toll on your mental health, leading to feelings of depression, anxiety, or a loss of self-worth. Without the daily structure and social interactions provided by work, retirees may struggle to find meaning and fulfillment in their lives.

But in remaining professionally active into what would historically be considered dotage, they are not unique. One poll this year found that almost one in three Americans say they may never retire.

How long does the average retiree live after retirement? ›

According to their table, for instance, the average remaining lifespan for a 65-year-old woman is 19.66 years, reaching 84.66 years old in total. The remaining lifespan for a 65-year-old man is 16.94 years, reaching 81.94 years in total.

The normal retirement age is typically 65 or 66 for most people; this is when you can begin drawing your full Social Security retirement benefit. It could make sense to retire earlier or later, however, depending on your financial situation, needs and goals.

Even for people who chose to retire, saying goodbye to their career doesn't always bring happiness. Some feel anxious and saddened by the loss of routine and direction in their lives. Almost 1 in 3 retirees say they feel depressed – a rate higher than that of the adult population overall.

The hardest part of early retirement for me was adjusting to a new lifestyle. I went from working 50+ hours a week to having all the time in the world. It was a lot of adjusting to do, and I had to learn how to fill my time in a meaningful way.”

Meaningful activity is vital for good emotional health, so try to start new activities before you retire. Don't be scared to try a few things before settling on the ones that you enjoy. You may have skills to share with others. Look at local volunteering options, or join a specialist interest group.

Allow yourself to experience a wide range of emotions, whatever those emotions may be. Look for healthy ways to deal with those feelings. You might find walking, reading, writing, talking to others, or yoga helps you deal with your emotions.

“When we retire, we often lose a lot of intellectual engagement we got from our job. Without that, we're not optimizing our brain health for life,” explained Jessica Caldwell, PhD, a neuropsychologist at Cleveland Clinic's Lou Ruvo Center for Brain Health.