15,000 retirees were polled and asked the question: “What is your single biggest challenge in retirement?“I want to go over the answers so that you can get out ahead of these things and not be caught off guard.
-Dave Zoller, CFP®
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The article referenced in the video –
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When it comes to retirement planning, many people focus on saving enough money, choosing the right investments, and figuring out how to budget their expenses. However, there is one big retirement challenge that often goes overlooked – the potential for loneliness and isolation during retirement.
Loneliness is a significant issue for retirees, as they may find themselves without the daily social interactions that they had while working. This can lead to feelings of isolation, depression, and even poor physical health. In fact, studies have shown that loneliness can be as damaging to your health as smoking 15 cigarettes a day.
Unfortunately, this issue is not often talked about when it comes to retirement planning. Instead, the focus tends to be on more tangible aspects of retirement, such as financial security and healthcare. However, emotional well-being is just as important when it comes to enjoying a fulfilling retirement.
So, what can retirees do to combat loneliness and isolation during their golden years? Here are a few suggestions:
1. Stay socially active. Make an effort to stay in touch with friends and family members, join clubs or organizations, or volunteer in your community. Social interactions are crucial to maintaining a sense of connection and purpose.
2. Embrace technology. In today’s digital age, it’s easier than ever to stay connected with loved ones through phone calls, video chats, and social media. Don’t be afraid to use technology to your advantage in order to combat feelings of isolation.
3. Find a hobby or passion. Engaging in hobbies and activities that you enjoy can help fill your time and provide a sense of fulfillment. Whether it’s gardening, painting, or playing a musical instrument, find something that brings you joy and gives you purpose.
4. Seek professional help if needed. If you are struggling with feelings of loneliness or depression, don’t hesitate to reach out to a therapist or counselor for support. Talking to a professional can help you navigate your emotions and develop healthy coping mechanisms.
Overall, it’s important for retirees to recognize the potential for loneliness and isolation during retirement and take proactive steps to combat these issues. By staying socially active, embracing technology, finding hobbies, and seeking professional help if needed, retirees can enjoy a happy and fulfilling retirement. Remember, emotional well-being is just as important as financial security when it comes to planning for your golden years.
I sent my letter in so I could get early bonus, now I sometimes wish I didn’t but workplace is toxic
Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.
The private retirement plan system is a colossal failure. If you depend on an employer's plan for retirement, you're in trouble. I am an ERISA lawyer of 27 years.
Very helpful, retirement is not just about the financial side – there's a huge mindset shift and I'm considering retiring but finding YouTube very helpful with useful videos such as yours and Joe Kuhn's whom has also commented below. Thank you, Peter UK
On point I have done a truck load of retirement lectures on my youtube channel
Starting in HS, I was bombarded with the financial side of retirement. What I was not prepared for was the personal side. My identity and my self-worth were based on my profession. Once I left the work environment, I lost my identity and my purpose. This took some real internal self reflextion.
Excellent content and presentaion, as always. This video could not have come at a better time. Husband retiring next month from high stress job in restaurant world. He will hopefully find something more satisfying for the next few years. Great "food for thought", ideas and perspective from those polled. Thanks so much, Dave!
Really good videos and as a near future retiree very helpful.
My kids live out of town and my enjoyment is to go see them and my grandkids. After listening to this podcast and others I look for a glimpse of what I can do now. I am exhausted and do not want to continue working. I am that employee that locks the door at the end of the day. Regrets now – that I did not take care of me – I just kept working. I hope people will read this and realize – time to take care of you!!! It’s our responsibility to do so.
I think it make sense. If you already retired, it's basically too late to start worrying about money because the decision of retirement was already made and more worrying about money is not going to change your retirement decision (for most people). Hopefully your decision was well planned and not forced upon you like a layoff or health issues. I turn 60 this week and am looking forward to retiring in 2-3 years. At this point as a pre-retiree I do have very high anxiety about money in retirement even though I have managed and saved a healthy and hefty nest egg.
So many people retire and think they're going to travel the world, sleep late, and play canasta. That's not how it happens for most.
We bought land before retirement. We live on a 13 acre "farm" in Georgia where we grow most of our own food. We also have an 85 acre place in Alabama where we spend a lot of time. It's our rural vacation home with 2 lakes, a small house, barn…and a lot of trees.
We travel when we want.
So many people retire and move into a condo or a small suburban house and expect the grandkids to take up all their time.
Volunteer. Dog rescues need volunteers every day.
Educate. Volunteer to read to kids at the library or at elementary schools.
Don't stare at the TV all day. Don't let your life revolve around where you're going to eat tonight.
I was a salesman my entire career and have no interest in selling anything.
There are 168 hours in every week, every year. You have to figure out a way to make those hours as productive as possible, especially for the first 15 years of retirement.
I kept trying to off the CC so I could read along. But the CC was part of the video. Wrong.
I will be 60 in a few weeks. Married. Good health. Even running all the possible ways to determine if we have enough for retirement, I always come up with the same answer, 'Yes', we have enough to be financially secure. The only thing that could sink us is catastrophic medical emergency, but it would have to be catastrophic. What it boils down to is that I am a minister and I find purpose and meaning in my work, and I believe God still wants me in the "trenches"…………. I do not feel that I should thumb my nose at God. I can see, perhaps, dropping down to working maybe 3 days a week. That is an option because there is a big shortage of ministers. Time will tell, I suppose. (It's the emotional spiritual aspect of "work".)
Great Video! I feel this will help everyone understand what what they are or might go through once they retire. Thanks
Thanks for a great video. This is something I can use now that I’m four months away from retiring
A lot of people like myself spend the end of their working years putting retirement on such a high pedestal that we forget how rewarding our work lives really are to our mindset! Great video!!
Life happens. Be at peace with your family and with God, and everything else will work out.
I'm no longer waiting for the GRANT LOAN because I earn $50,000 every 7 days recently
I am retired. I don't have enough time for all I have to do, I'm always rushing from one thing from to another. How did I ever have time to work?
Part time work resolves A LOT of retirement issues. Those Walmart greeters don’t always need the $
This is the first of your videos were the not really needed closed captioning was in the way.
Great video. I’m retired. Too many think retirement is a destination. It’s actually a new journey.