How your aging parents can view retirement more realistically

Happy Couple

Sometimes expectations about retirement vastly exceed reality.

Many adults look toward retirement with anticipation. We hope our golden years are indeed golden. We hope our aging parents are finding enjoyment and satisfaction in their retirement years. Most people hold high expectations for retirement, expectations that are, perhaps, too lofty to be realistic. Here is some information about how your aging parents can view retirement more realistically. Armed with common myths about retirement refuted with reality, you may be able to help your aging parents find greater quality of life.

US News and World Report published an article saying that,

“Only 29 percent of retirees say leaving the workforce made their life better.”

The article describes misconceptions about retirement. Perhaps being aware of these misconceptions will allow you to help your aging parents through times of stress or discontent, directing them instead to a more realistic view of retirement.

    • “You will have less stress. More than half (55 percent) of workers age 50 and older expect retirement to be less stressful than it was when they were working. But only 39 percent of retirees report having less stress in their lives than they did when employed full-time.
    • Travel and hobbies will fill your days. Exploring new places is a common retirement goal, with 59 percent of older workers expecting to do more of that in retirement. But 34 percent of retirees say they currently travel to places they want to go less than they did in the past, and 35 percent fit in vacations about as often as they did while employed. And while 68 percent of people over age 50 who are not yet retired expect to have more time for sports, hobbies, and volunteering, many retirees say they have the same amount (43 percent) or less (20 percent) time for activities they like.
    • You will take better care of yourself. Almost half (48 percent) of older workers say they will exercise more in retirement than they do now. But just because you have more time to exercise doesn’t mean that you will. You probably won’t start eating healthier in retirement either, even if you have plenty of time to cook
    • Your health will hold up. “People envision that retirement will be a chance to do a lot of things that they haven’t done before and they haven’t really thought about the health issues they will run into as they age,” says Robert Blendon, a professor of health policy and political analysis at the Harvard School of Public Health
    • You will be able to maintain your current standard of living. The majority of employees age 50 and older (62 percent) expect to be able to maintain their current standard of living in retirement. But unless you saved very diligently, you may have to make some spending cuts in retirement.
    • You’ll improve your relationship with family members. Many current workers expect their relationship with their spouse (45 percent) and other family members (40 percent) to get better in retirement. Most retirees say their relationship with family members (61 percent) and their spouse (62 percent) stayed the same in retirement.
    • Retirement is a choice. We like to think that we will be able to retire when we hit a certain age or savings goal. Most current workers (60 percent) expect to retire at age 65 or later, often because they need the money or health benefits from their job, but also because they enjoy working and want to make a difference.”

See the full article here.

Helping your aging parents view retirement more realistically can help them maximize their retirement years. If you see some of these myths about retirement in your aging parents, you may be able to redirect them in an effort to bolster their quality of life.
Visit our website for additional information on many aspects of caring for aging parents.

CARING FOR MY PARENTS | Life, Love, Tears & Laughs


Tags: , , ,

No comments yet.

Leave a Reply

You must be logged in to post a comment.