After a lifetime of hard work, saving, and sacrifice, retirement represents the promised land where one can finally leave behind the morning commute, employment responsibilities, and pressure to instead enjoy ample time for relaxation, travel, and hobbies. For many, retirement is indeed a time of great joy and contentment. However, the transition from work to retirement can also be fraught with challenges.
During this period, the novelty of newfound freedom and the endless possibilities of retirement lead to elevated moods and increased feelings of well-being and life satisfaction. However, once this phase comes to an end, some retirees may experience a sharp decline in their emotional well-being and life satisfaction levels. In fact, some retirees may find themselves feeling even worse than they did when they initially retired.
Another study found that nearly 70% of retirees reported that their retirement transition was not smooth.
In a separate survey, participants were asked to rate their level of satisfaction with their retirement. Shockingly, over 40% of respondents reported that they were only moderately satisfied or not satisfied at all with their retirement.
While retirement can be a wonderful period of life, it's important to recognize that the transition can be challenging and that not all retirees will experience the same level of happiness and contentment. If you're struggling with the transition to retirement, know that you're not alone and that there are resources available to help you navigate this new phase of life.