Why is it important to prepare for retirement?

As we retire, we may have lots of questions and worries about our futures. In his latest article, London-based consultant psychiatrist Dr Sunil Raheja answers some of the most burning questions you may have regarding this period of your life.

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What are my goals for the second half of my life?

When we retire, society says that we are left to ourselves with no clear structure. We are expected to just relax. The problem is that there is only so much golf one can play, or beaches we can swim before we get bored. There are real dangers associated with retirement; studies have shown that the earlier you retire, the earlier you die.

One-third of people who retire are at risk of becoming depressed, and many retired people can become very bored. Some people regret retiring, so it is important to plan this carefully and prepare for it.

It is important to set goals that are beyond just relaxing on a beach or playing golf. You need to think about your physical and mental health, and find ways to stay active and engaged. You also need to think about how you will find meaning and purpose outside of the structure of working.

The more you can look at those confidently, and maybe with some outside help, the better prepared you will be for retirement.  

How can I make sure that I am financially secure in the second half of my life?

This will vary from person to person, but as we live in a very materialistic society that wants us to define ourselves by how much we earn or our possessions, we have to be very careful. There is a danger to believe that you never have enough.

With the right financial planning, you can think of what is required to live day to day, as well as some special treats. It will likely be a lot less than you think.

How can I stay physically and mentally healthy in the second half of my life?

This will depend on the current issues we are facing with our health. We now live in a golden era where we know so much about ageing, and the importance of good nutrition and exercise, limiting alcohol consumption and avoiding habits like smoking.

There is a quote that I think sums up this situation very well: “the person who has their health has a thousand dreams, and the person who doesn’t have their health has only one dream.”

Health is something that must be thought about carefully, and we must take of ourselves as best we can.

How can I find purpose and fulfilment in the second half of my life?

Retirement is a great opportunity for us to find out what is most important to us, and the relationships that are important to us.

Various studies show that the best indicator of longevity is the quality and depth of our relationships. The better our relationships are, the more likely we will live longer. It is important to understand which people are important to us, how we will set aside time for them, and how we can nurture and develop those relationships.

It is also a great opportunity to grow spiritually. As we grow older, we must start to look at our lives as a privilege, as old age is not something that is granted to everyone. We must live in such a way so as to be an encouragement and blessing to others.

Dr Suni Raheja is a leading consultant psychiatrist based in London. If you would like to book a consultation with Dr Raheja, you can do so today via his Top Doctors profile.