Queensland Law Society

So you think you’re ready to retire?

Retirement. For some, this word sounds like endless sleep-ins and slow breakfasts, playing with the grandchildren, travelling the world and chasing old dreams that had been relegated to a holding pattern for decades. For others, the idea of being a retiree brings up dread, a vast nothingness, or paralysing confusion: “What am I supposed to be doing with all this free time?”

There is one thing, however, that applies to everyone who is approaching this major milestone in life: Retirement is a time of considerable change and adjustment, which brings with it a host of challenges and opportunities. And like all other major transitions and significant life changes, they tend to be more successful and positive when you plan and prepare appropriately. For most people, this means seeing a Financial Advisor to ensure they will be financially secure and hopefully even comfortable. But what about your “psychological portfolio” - your identity, your relationships and your sense of purpose? Assuming that these aspects won’t change much, that they won’t matter, or that you will deal with these questions when you cross the proverbial bridge, means leaving the door wide open for a potentially very negative and destructive experience in retirement, including increased risk of depression, loneliness and identity issues.

Find out what you can do to set yourself up for a positive, enjoyable retirement in this article.

 

Rebecca Niebler
Organisational Culture and Support Officer, QLS Solicitor Support (QLS Ethics and Practice Centre)
25 October 2019