WHAT DO YOU DO? WHO ARE YOU WITHOUT YOUR WORK AND WHY YOUR RETIREMENT PLANNING NEEDS TO BE BROADER THAN JUST YOUR FINANCES

As we age we begin to have conversations about retiring. During stressful moments at work or overwhelm with juggling life many of us look forward to those far distant (or not so distant) years of retirement where we see a blissful stretch of endless time to do whatever we want. For many of us the most discussion we have, apart from our endless dreaming, is about our financial planning.

In fact, research shows that there is a significant emotional impact that we experience when we retire. Primarily this is focused on your sense of identity. Who are you without your work to structure your sense of self and your day?

Throughout our lives we take on different roles which create more or less of our identity. This might be roles as a parent, caregiver, leader, team member. Whether we like it or not what we do for work contributes to a large part of our identity. We often ask people at BBQ’s – ‘so what do you do?’ ‘Hi, I’m Steve – I work for …’

Retirement whether full time or part time changes that. What is identity? The Merriam Webster describes it as:

1: the distinguishing character or personality of an individual: individuality 2: the relation established by psychological identification

It shapes who we are and who we believe ourselves to be. This can be influenced by your family, your culture, your friends, and your work amongst many other things. It changes and morphs as we move through life.

WHAT DO YOU DO? WHO ARE YOU WITHOUT YOUR WORK AND WHY YOUR RETIREMENT PLANNING NEEDS TO BE BROADER THAN JUST YOUR FINANCES

Our brains are hugely complex, and we really know little about how they function and how this relates to our way of being. According to Neuroscientist - David Rock’s SCARF model one of the areas that is hugely important for us as human beings particularly in the world of work is sense of status – how we are perceived, our routines and certainty and our connections.

For those tied to their role in an organisation this can leave you floundering, lost at sea, when these significant structures are no longer part of your life.

Any period of transition – getting married, becoming a parent, significant career changes, retiring from a professional sports career, being made redundant can cause some people to feel unsettled and uncertain. Having a plan for this transition process can help you ride the wave of change. It’s important as you age to take some time to think about what identities you currently have, what you would like to change/hold onto and what you would like to grow.

As you move into your next chapter take time to consider how you will evolve your identity so you are clear on who you are and how you will ride the waves of the ebbs and flows of transition.

The 7 F’s framework will assist you to navigate the questions of who you are and 'what do you do' – to find out more contact us at whatsnext@thenextchapter.nz