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Retirement offers the potential for many things. More time for travelling, occasionally sleeping in, spending time with the grandkids, starting a new hobby, or finally reading War and Peace can all be part of your plan in your newfound downtime.
But saying goodbye to the daily grind — at least in the traditional sense — isn’t always what it’s cracked up to be, and can potentially be detrimental to your health.
Think about it: When your future is bigger than your past, you’re motivated, looking at growth, and trying to find new ways to hone your craft. That can all end with retirement. And if you tie your purpose in life to your work, as many people do, it can be especially problematic for both your physical and emotional health.
In fact, putting off retirement by just one year can lower the risk of “all-cause” mortality by 11%. Imagine what would happen if you never retired — or, at least, rethink what it means to retire.
Redefining retirement
If you haven’t guessed, I don’t believe in retirement in any way, shape or form. The abrupt shift from a high-engagement career to a state of leisure can have a negative impact on your sense of purpose and overall well-being if you’re not prepared to retire in a healthy fashion. It’s all in the approach, as my brother and I can attest.
In 2018, we made the decision to sell our business to a group of private equity partners. I entered into the arrangement with a plan: To help other entrepreneurs get what they want from their businesses. I was participating as an advisor, serving on boards, coaching other companies, and so on.
My brother, on the other hand, didn’t adopt a similar strategy. He had nothing planned and spent his time just walking around the block every day. He became depressed, directionless and purposeless. His mental health suffered significantly, so I convinced him to buy anoth… Read More
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