Additionally, changes to income, routine, and independence can worsen feelings of loneliness in retirement. Although common, feeling lonely after retirement can impact not only your mental health, but your physical, cognitive, and emotional health, too.
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.
It's estimated that almost one-third of retirees in the United States develop symptoms of depression at this stage of life. Managing depression is possible, though, and self-care and support can make a difference.
Many older adults don't feel so optimistic after retirement, though. In fact, retirement can bring about some significant mental health issues, including depression and anxiety. Because so many aspects of your life change when you retire, the transition can feel disruptive.
Only 51% of 25–34 year olds say that they often feel happy compared to 76% of people ages 65–74. Only 47% of youngsters say that they often feel content, while 71% of those retired report contentment. Feeling often relaxed is experienced by 71% of 65–74 year olds, but only 41% of those 25–34.
And of course, every situation is unique and there is no set time frame for how long it takes to feel settled into retirement. For some people, it takes a few months. For others, it can take a year or more.
The Retirement Syndrome is a term coined by clinical professor of Leadership Development at INSEAD, and author, Manfred F.R Kets de Vries, to describe the difficulties faced by individuals in positions of authority, specifically Chief Executive Officer's (CEO's) as they attempt to "let go" at the end of a full career.
Retirees are often advised to stay busy and do something meaningful. For the most part this is good advice. No one wants to feel bored and useless in retirement. But sometimes it's nice to just relax and do absolutely nothing.
The traditional retiree feels a boost in happiness starting around age 57, or eight years earlier than age 65. Therefore, the 45-year-old retiree may start feeling a rebound in happiness perhaps starting as early as age 37.
Finding meaning in retirement often involves going beyond yourself, contributing to the broader community, servicing society, or taking care of others. Getting a pet, volunteering at a hospital, or babysitting grandchildren are all ways to fulfill that basic human need to connect with and show compassion toward others.
Introverted seniors crave social connection—they just need it delivered differently than extroverts. Usually a small group of close friends, say between 3 to 5 people, will fulfill your aging loved one's need for socialization while respecting their needs as an introvert.
Putting Off Saving for Retirement
The single biggest financial regret of Americans surveyed by Bankrate was waiting too long to start saving for retirement. Not surprisingly, respondents 50 and older expressed this regret at a much higher rate than younger respondents.
One of the most popular things to do when retired and bored is to travel the world. A 2017 survey by AARP revealed that 99% of Baby Boomers will take at least one leisure trip within the year. Odds are, there is probably somewhere that you've always wanted to visit.
They use their newfound free time in a variety of ways, including taking up new hobbies, relaxing at home, watching TV and lingering over daily activities. Many retirees also continue to work or volunteer. Here's how American retirees are spending their days.
Happy retirees often spend much of their careers actively laying the financial groundwork for their retirements. Careful deliberation about investment strategies, diligent and regular savings and other planning helped position them for a relaxing and financially independent life.
Indeed, some studies find retirement associated with worse health and reduced longevity. One found that retirement raises the risk of cardiovascular disease and mortality. Another found higher risks of cardiovascular disease and cancer.
Retirement Anxiety Is Normal
When you stop working after several decades, it naturally takes some time to adjust and figure out who you are in your new life. Giving yourself permission and the opportunity to feel the discomfort that comes with change will make it easier.