Phases of Retirement

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    • During the pre-retirement phase, workers should be reviewing their finances and calculating the amount of money they will need to retire comfortably.


    • During this phase retirement is a new adventure. A number of new retirees take the opportunity to pursue new interests, travel extensively or just relax and unwind.


    • During this phase, retirees may find that the retirement lifestyle is not everything they hoped it would be. Some retirees might find that they are bored without a job, and this boredom can lead to depression and other problems. An AARP study of baby boomers found that approximately 20 percent of the respondents worry that they will be bored during their retirement years.


    • After the period of disenchantment has passed, retirees enter the reorientation phase. During this phase, retirees might take up a new hobby that gives them greater fulfillment, or they might seek out volunteer opportunities in their own communities as a way to stay active. According to "The AARP Magazine," taking up a new hobby and making new friends can be good for retiree's health--both mentally and physically.


    • Eventually, retirees will settle into a routine that includes the things that are most important to them. This routine is highly personal, and can involve everything from volunteer positions to traditional part-time jobs. Retirees might also find themselves traveling and visiting family members more often.


    • Unfortunately, some retirees will be unable to keep up with their retirement lifestyles due to illness or disability. Some retirees will find that they need to enter a personal care facility or similar institution to receive the care they need.

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