How Retirement Could Affect Your Relationships

Sometimes when you ask current retirees for insight on their experiences, they won’t tell you about money or housing – they’ll tell you about how retirement affected their mental health, social life, and relationships. For many people, retirement will prompt a huge adjustment in your lifestyle and this, in turn, can affect your relationships, in both positive and negative ways.

Here at Ethica, we hope to help people to prepare for retirement, and not just financially but in other ways too. That’s why we’ve compiled an article about the ways your relationships with the people in your life could be affected when you decide to retire.

1. You Could Lose Touch With Your Colleagues

Working in the same company with people for a number of years can help you to establish some very close and strong relationships with colleagues. In a workplace, people often become ageless and you form great friendships with people who, in a different situation, you may not have ever been friends with.

However, when you leave the workforce, you may find that colleagues who you felt very close to begin to drift away and lose touch. This is usually because of the thing that you had in common, your job, is what strengthened your friendship and helped it to thrive.

When you first retire, this can often come as a shock and can make you feel lonely or out of touch with people who you once regarded as great friends. However, retirement is an opportunity to pursue personal goals and make connections with people who have more in common with you than simply the job that you do.

2. You Can Spend More Time With Family

As parents and grandparents, it can be easy to miss out on the little things that happen in our children and grandchildren’s lives when we work full time. However, retirement offers a fantastic opportunity for you to strengthen bonds with your loved ones and enjoy the day to day excitements of spending time with family.

Not only this but you can use your spare time and retirement savings to make memories with your family such as going on family vacations and spending good amounts of quality time together, without the stresses of work hanging over your head.

3. You May Feel Isolated

Transitioning into retirement can be hard for some people and it’s not uncommon for new retirees to be overwhelmed by a sense of loneliness or isolation. If you have a lot of friends that aren’t yet retired, or your family doesn’t have a schedule that is quite as flexible as yours, then you may find that you have to do a lot of things alone.

For a lot of people, the idea of eating at a restaurant alone or hanging out at a bar without friends is a little daunting, which causes them to stay at home and isolate themselves. However, it’s important to remember that Australia is a hub for retirees, so getting out there can help you to connect with like-minded people who are experiencing the same things as you.

Read More: 8 Things You Might Experience When You Retire

4. You Could Meet A Lot of New People

With all the free time that retirement can offer, it’s highly likely that you will find yourself in situations where you meet a lot of new people with interesting stories to tell. ‘Retiree’ is a broad term that encompasses people from all walks of life which is why connecting with other retirees is such an exciting opportunity.

Not only will you get a chance to meet people with totally different backgrounds from you and share stories, but you may also be able to make lifelong friends, learn new skills, or learn things about yourself that you never knew whilst you were working.

5. You Could Discover New Cultures

For a lot of people, retirement is the first opportunity they get to explore the world and visit destinations that they’ve always dreamed about. In terms of relationships, travelling to new places could give you a chance to learn about how other people live and make friends with people who have a completely different culture and livelihood to you.

Living as a retired expat in other countries is also very popular and will open up the opportunity to make real connections with other retired expats and locals that you would never have met in your hometown.

Read More: 6 Destinations Where Your Retirement Savings Can Go Further

6. You Can Spend More Time With Your Partner

For a lot of long term couples, retirement is often the first opportunity they will have to spend extended amounts of time together. Aside from vacations and weekends, most couples only see each other in the evenings for dinner and spend most of their day apart working separately.

Once you retire, this may change dramatically. For some couples, the extra time together is a great improvement to their working life, but some people may find it hard to be in each others company for most of the day.

Couples that struggle with the transition often schedule separate hobbies and activities in order to replicate the schedules they had during their working life, in order to ensure that they only spend quality time with their significant other.

Your retirement years could be the best years of your life, as long as you’re properly prepared.

For some people, the prospect of retirement can seem daunting, and some may find the transition into full-time retirement challenging. However, proper financial planning can help make the transition much smoother and more enjoyable.

If you’d like to find out more about preparing for retirement, our team at Ethica Private Wealth Specialists may be able to help you with a 2 Hour Free Consultation.