Did you know that 20 of the 43 most stressful life events take place at retirement?
Did you know that 20 of the 43 most stressful life events can take place at or near retirement? In fact, the act of retirement by itself is in the top 10 of the most stressful list.
The reality is, that transitions of any kind can be difficult and take time to get used to. Knowing this ahead of time and having access to the tools and resources for it can go a long way in helping you deal with the ups and downs you may experience when you leave the workplace.
The foundation for this post comes from the Holmes and Rahe Stress Scale. and “Why Retirement is So Stressful” by Robert Laura.
20 Retirement Stressful Factors
Below is the list of 20 stressful events that commonly happen during or near retirement.
1. Death of a spouse
A harsh reality that you may live alone for some portion of retirement.
2. Divorce
Grey divorce rates continue to climb.
3. Death of a close family member
As we age we tend to lose more family and friends.
4. Personal Injury or illness
Think cancer, Parkinson’s, Alzheimer’s, or other diagnoses.
5. Fired at work
In terms of retirement, forced into retirement.
6. Retirement
Yes, the 10th most stressful event in life is retirement all by itself… without these other factors.
7. Change in health of a family member
Aging parent with Alzheimer’s or spouse with cancer
8. Sex difficulties
As we age, things change – See sex in retirement.
9. Change in the financial state
No more paycheck and on a fixed income causes lots of retirement arguments.
10. Death of a close friend
Impacts social networks.
11. Change to a different line of work
Retirees with part-time jobs aren’t always happy with the gig.
12. Change in number of arguments with spouse
They tend to go up with more time together in retirement.
13. A large mortgage or loan
Not having your home paid off can add stress to retirement.
14. Son or daughter leaving home
The hardest part of raising kids is when they leave.
15. Spouse begins or stops work
Changes the routine, roles, and expectations.
16. Change in living conditions
More time together, aging parents moving in, adult kids coming back home.
17. Revision of personal habits
Personal activity will change and if married can disrupt the partner’s routine.
18. Change in residence
Downsizing or relocating.
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19. Change in social activities
While people think they will do more, they often do less with friends.
20. Change in eating habits
In the refrigerator more and other stresses can cause snacking.
As you can see, retirement can bring about almost half of the most stressful events in life, often many of them taking place at the same time, and many are difficult to deal with.
For example, think of someone who is forced into retirement gets a part-time job, and decides to downsize to save money and be closer to their aging parent.
Retirement is not what you see on a cover of a magazine. Retirement is not always about money and how much you saved but also about skills you develop to deal with hard situations.
Learn about resilience and positive psychology in addition to asset allocation and stock market returns.