What to Consider Before Retirement

By: Maranda Holtsclaw

Everyone talks about looking forward to retirement. We’ve all had that conversation with a laugh, “how many more years until I can retire?” That transition in life can be such an exciting one, but when it does arrive for some people, it can also bring a lot of uncertainty, fear and overwhelm. Where some of us once thought we would be so excited to run out the door, it turns out that it can be very hard to leave. Some individuals find themselves struggling to make the decision to retire and to take the step to put in their notice and choose an end date.  

There are often many great resources (check out this website and checklist from Michigan State University Human Resources) to help plan the shift into retirement, but they often focus on navigating retirement eligibility, finances and benefits. While this is very important and certainly something you need to consider when making decisions about retiring, it is also important to prepare yourself mentally and emotionally. I encourage you to think about these three things before retiring.

Plot out your vision

How do you imagine retirement looking? Some people find it helpful to actually write the vision down or to make a vision board to get them started. Your vision doesn’t have to be fancy or extravagant, but it allows you to mentally prepare for what is to come. Maybe you decide to spend the first 6 months resting and relaxing and then decide you will take a road trip somewhere. Perhaps you would like to learn a new skill, so you sign up for classes at a local community college or lessons at a community center. You could even join a league of some sort like bowling or golf.

Think about relationships

We spend a lot of our time at work and even though many of us can’t wait to retire, we will miss the friendships that we established at our workplace and miss having those morning chats about what happened the night before or sharing new pictures of your pets. Those relationships will change and some of them may even vanish but by considering your relationships before retiring you can set the stage for building new and sometimes even stronger bonds with people.

  • Do you know anyone else that is retiring around the same time you are even old coworkers that are already retired? You can try to set up regular times to meet up for coffee or a walk. 
  • Are there people/family members you wish to spend more time with? What might that look like? Think about the things you would like to do with them and let them know so that you can make plans and share in the excitement together.
  • Do you want to plan your retirement to happen at the same time as your partner/spouse to spend more time together or would you prefer to stagger them so that each person can adjust separately? Every relationship is different, but this is definitely something to take into consideration if you are in this situation.

Consider your purpose

Everyone wants to have a purpose and to feel needed in some way. Consider what your purpose might be. Some examples might be offering to babysit periodically for a neighbor or grandchild; helping a local school with an after school program; volunteering in your community at a nursing home, homeless shelter, church or other organization; sharing a hidden talent with others by creating art or offering to lead a free class at a community center; etc.
You don’t need to fill your time up completely but having something that you feel passionate about and that gives you a feeling of purpose can make all the difference in fulfillment you feel during retirement.

If you have walked through this process and you just don’t feel quite ready yet, consider talking to your supervisor about reducing hours to phase into a retirement. Sometimes a slower transition from full-time work to part-time work and then into retirement feels less jarring. This can sometimes be a win-win for your department because it may allow them to hire a replacement while keeping you on board to handle training before you leave. It also allows you to get involved in other activities and projects outside of work so that when you retire, you will already have things going on in your life that are fulfilling.

There are different methods to think through the topics above. You can meet with a counselor or therapist to discuss (the Employee Assistance Program on campus has licensed counselors you can meet with). You can choose to have these conversations with a trusted loved one who knows you and can give honest and supportive feedback. You can also reach out to the WorkLife Office and request a career consultation so that you can talk to someone who understands career transitions and can even help you discover your interest areas for activities outside of work.

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