After retirement, people find it extremely difficult to adjust to a new lifestyle with no work. Ideally, many people love the thought of retirement just to leave behind the daily grind, travel the world, make memories, and much more.
Why Is Retirement Daunting? As per William Schantz
Though the thought is relaxing and one looks forward to retiring, when they actually retire, things are not as sound as they hoped. This is quite similar to that feeling when young people are craving to step into the professional world, leaving behind the stressful study years. Yet, they yearn to go back to those years when paying taxes, rent, or building a career was not a short-term goal rather, an A on a term paper made them feel accomplished.
Similarly, William Schantz believes that people develop an addiction to a certain lifestyle, then when they are thrown into a new one after 60, it is difficult to adjust and cope. People face numerous problems after retirement, which William Schantz lists below.
Financial Aspects: Explained By William Schantz
The first and most common concern about living after retirement is that many worries that their savings will eventually run out due to rising inflation and that they will go broke before they pass away.
The inflation factor, which means that the money people are saving from their income will be worth less in the future, is a significant issue that causes stress. People today are unsure of their future circumstances due to shifting trends, new technologies, and skyrocketing pricing for all goods.
So unless you have a concrete investment plan for retirement from which you gain substantial income, social security might not be enough to get you through the day.
The Psychological Impact: Explained By William Schantz
The perks and hype of a long-term vacation die down shortly after a year or two of retirement. Most people feel that they are aimless or there is no purpose to life. This new lack of belonging nowhere and the lost identity can take a toll on people, and they may spiral into depression.
William Schantz believes this is more prevalent in individuals that had a robust social life at work, and retirement doesn’t give them much joy.
Dealing With Health: By William Schantz
Studies have proved that people who retire have a greater chance of getting ill. Depression, anxiety, and hopelessness can advance into a stroke easily. According to a study, strokes and heart attacks are prevalent for those who are in their first year after retiring from work.
How To Cope With The Stress of Retirement?
According to William Schantz, there are many ways to cope with the stress that comes after retirement. Adjusting your attitude or looking at things from another perspective can get you started on your new life after retirement. Similarly, accepting that things cannot change or go back to how they were is the next step to getting used to the lifestyle quickly. Lastly, finding a hobby or creating a busy routine without work will also help people enhance their quality of life.