The responsibility for a smooth transition from formal employment to retirement is to the largest extent of the employee or worker.
As an individual, you must decide when to start saving, how much to save, how to invest, how to eat healthy, how to exercise, how to build essential networks and relationships and what you will be doing when you cease to work and so forth.
There is no doubt, the employer has some responsibility, but their role is largely to do with ensuring compliance with the statutory human resource policies, retirement provisions and providing a supportive environment for employees to plan for a better transition into retirement.
Let’s delve into the top writers recommendations :
Making a Positive Mental Transition to Retirement by Cynthia Kinsella
Cynthia brings it out that while the term “retirement planning” is taken by most people to mean preparing financially to retire, it’s just as important to prepare yourself mentally to ensure a smooth transition.
You are at work among your colleagues, with a set of specific responsibilities, and the next day, you are retired or unemployed, with no schedule to keep and no specific tasks to perform, and much less social interaction. This can be quite challenging. She cautions... for more details.
3 Tips for a Smooth Transition into Retirement by Man Fred F.R. Kets de Vries.
It is well emphasised that employees often transit into the retirement phase ill-prepared. The change is more serious with executives as they are quite busy with too many meetings, too much travel, too much of everything.
Many employees in most instances give little thought, time and attention to most of the essential retirement matters: investing in personal relationships, creating networks beyond the office and finding new outlets. For details
How to Smooth the Transition into Retirement by Tiffany Lam-Balfour
Tiffany observes that many employees work and save for their entire careers with hopes to relax and have a comfortable life in retirement. But however, notes that the actual transition process normally brings worry and stress.
It is recommended that setting retirement goals and monitoring them is an essential step not to be missed. For more
10 Retirees Share Their Biggest Regrets - Rachel Hartman
Whether you have just started formerly working or in your later years of working, learning from experience of others will contribute to steer your focus into the retirement future.
The failures range from not having a financial plan, not setting retirement, not focusing on what really matters.....
There are lessons and experiences from those who entered retirement and how they exactly found it. You can delve into details of their experiences.
The analysis of the 4 top writer's recommendations for a smooth transition from formal employment to retirement reveal that: there are several aspects to pay to attention to, but all these aspects in our view fall under four critical categories:
- Mental preparedness,
- Financial preparedness,
- Being healthy, active, engaged and productive,
- Social networks and relationships.
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