IT’S time to talk about retirement — everyone’s least favourite topic. Retirement, for some, is like falling off a cliff, or, better still, striving to live after death.
To be honest, it’s not retiring that is so scary; it is how much you need to save in order to get there.  Or rather, how much you haven’t saved. Many people struggle to make enough to live on from day to day, much more save for retirement, while others wonder if the amount they are saving is enough. But the question here is: How much is enough? And even if you think it is enough now, will it really be enough when you really need it?
According to one writer in the New York Times, the old-model sophisticated retirement idea of a condominium in the sun and a daily golf game is unrealistic today, as people live longer, and they have to consider inflation, health care, and an unknown future.
These are some of the thoughts expressed by people I interviewed on the subject: Mary and John Stuart retired within a year of each other, at the age of 67 and 69 respectively.  They figured that they had another 30 years to live, and wondered if their nest-egg would see them through.
Although they knew they would have had to retire at some time or the other, they did not really cater for that time when it came. And this is the stark reality that many persons all over the world face today.

Unprepared
Despite these regular occurrences, however, people are still not prepared for retirement when it comes. For example, major changes were going on in Graul’s company. He hadn’t really anticipated retiring before the age of 60. His bosses were offered packages, and then he knew that it was only a matter of time before his age would increasingly work against him if he stayed. He also knew that first offers are usually the best ones. So when his company offered him a buyout, he felt the need to grab it. But the thought that his wife would still be working while he was on retirement haunted him.
Retirement can be the most difficult time for a person, and depression after retirement is very common. An active person suddenly becomes inactive, and oft-times feels unproductive.  During his or her working phase, he/she had either been earning members of the family, or contributing positively to the welfare and needs of people.
Once they are retired, they are eliminated from the job market, and financial constraints make things very difficult for them. They are no longer in a position to earn any money, and this demoralizes them most. They are no longer the bread earners, and have to depend upon others. And since they are not productive anymore, their confidence levels diminish, and they tend to find it difficult to retain their self-esteem within and outside of the family.
But this need not be the case if one has devised a plan for retirement, and care and caution are exercised in its execution. And this drove me to ask what retirement would do to you as a person who is not prepared. It can lead to happiness, if your children are grown and can manage on their own, and there is now time on your hands to do what you want; ‘you-time’, as I call it.  And that brings joy, but only for a time.

Sense of longing
For me, retirement gave me time to sit on my veranda, sip my coffee, and read my Bible or newspapers; or exercise and wave to passersby.  There was time also to tend my plants, put down a few cash-crops, prepare meals I hadn’t eaten for years, entertain and travel between family and friends.
Generally speaking, I was relaxed; I was in heaven. Or so I thought.
After two years of that, I became emotional, and my false sense of euphoria was swept away like the tide. I had to accept the fact that a mid-life crisis was on my hands. My retirement package could scarcely take care of all my expenses. It dawned on me also that I would not receive my small NIS (National Insurance Scheme) pension until I was 60, and my equally small old age pension until age 65. I had to look for a job.
The satisfaction I got from seeing people going to work  every day, standing in front of my gate like I used to do to join the bus or the street car, was no longer there. The fact that I was no longer a part of the workforce, and that I still had so much to give was amplified. The desire to work again invaded my thoughts, this time telling me that I should change my career.
I became interested in public relations, but that opening did not come. However, an international organization needed my skills, so when the opportunity presented itself, and my interview was successful, I took the job.
It was very ironic that I had left the Public Service just at the time when the Department had bought its first computer. I had little or no technological knowledge, so it wasn’t only my return to work that got to me. I had turned on my computer on my first day, and there was so much for me to learn about it that I wanted to yell! But, thankfully, the policy of the organization to which I was attached catered for on-the-job training, and my colleagues were very helpful.
I also had to find clothes to wear to work, and to keep my eyelids from closing down at 2pm.  Then there was the matter of re-familiarizing myself with the various offices, office protocols and procedures, international connections, flight schedules, socializing with my new colleagues and visitors, and adjusting to the new environment.
But it was soon worth it all when supervisor and co-workers said that I did a good job; that I was smart; and that I had ‘caught on’ in such a short time.
I spent another six years there, and, of course, the remuneration package was rewarding. So when I retired for a second time, I received a substantial package which afforded me the opportunity to cope with inflation, health issues, and a viable investment that is maximizing my savings even today.
One American writer puts it beautifully: “Once upon a time, the American Dream meant owning a small piece of land with a house and picket fence, taking a modest vacation in the family sedan, and saving enough money to send your children off to college. How times have changed! For the millions of baby-boomers, the American Dream has shifted dramatically, and, for most, points to one goal: Retirement. But how do you know when it’s time to leave the work force? And, more importantly, are you really ready?”
He looks at five signs that suggest it may be time to leave the working world behind for good, stretch your retirement budget, and live comfortably.

1.You can afford it
The biggest question one asks before retiring is, “Can I afford it?” If you’ve planned well, your house is paid off, and you have little or no outstanding debt, that’s a great start. But, will you have enough to live comfortably during your retirement years?
Most banks and financial institutions provide retirement calculators to help put money issues in perspective. They take into consideration aspects such as your age (and at what age you’d like to retire), current savings and income (including expected rate of return for investments, pensions and Social Security benefits), current and anticipated expenses, and estimated inflation numbers.
When all is said and done, conventional wisdom estimates that retirees will need well over 50% of their current annual income to live at the same or a similar level as when they were working. Make sure you can reach your retirement goals.

2. You feel ready
Retirement is not only about the finances. People who think they’re ready to retire, or just feel that they should, can end up regretting the decision if they haven’t spent time thinking about it, adjusting to it, and accepting it.
For those who are still enjoying their work and may regret leaving it, as you approach retirement, recognize that the decision to end your career has many implications that go beyond money. Make sure you’re ready to take that leap. Find out the best way for you to plan your later years.

3. You’re making new plans
Once you retire, it doesn’t mean you suddenly don’t do anything. Before you’re ready to retire, you’ll need to make plans to fill your time, once you leave the workforce. Is a community organization or charitable cause calling your name? Do you find yourself spending just as much time in volunteer activities as in your job?
If so, this may be a signal that you’re ready to leave the workforce and take up more philanthropic ventures. Volunteering, which may consist of any service, from helping in a food pantry to coaching your grandchild’s soccer team, is a wonderful way to stay involved, feel productive, and engage in activities that there simply wasn’t time for when working full time. More than 63 million Americans volunteered in their communities in 2009, contributing approximately eight (8) billion hours of service. Don’t miss out on your best years!

4. You’ve developed a wanderlust
Many of us would love to “see the world”, but travel is often curtailed by a busy work schedule or other obligations, such as raising a family, paying a mortgage, etc.
Now that the kids are grown, and you’ve paid off those major bills, that cruise in the Mediterranean or excursion to the Great Wall is a definite possibility.
If the “pros” have outnumbered the “cons”, it’s time to call the travel agent. And why not! You’ve earned it!

5. You’re ready to relax
“Chill out” was the mantra for the ’60s generation. Maybe you find yourself revisiting that notion more often than you used to, and are finding that some of the things that you’ve always wanted to do (such as read “War and Peace”) are tugging at you harder than ever.
When your to-do list includes things like taking a nap every afternoon, starting a vegetable garden, or going to a ball game or movie with your grandkids, it may be time to pack up your stapler and start the next chapter of your life.

The bottom line
Leaving the workforce is not easy for everyone. For some, it may never be an option, but if your priorities have changed, your finances allow it, and your heart drives you in that direction, then you’re probably ready for the “Big R”.
Much food for thought, eh? The biblical injunction at Proverbs 4:7a exhorts us to get wisdom. “Wisdom is the principal thing; therefore, get wisdom.”  Be wise!