6 Reasons Why Retiring is a
BAD IDEA
*(and what you could do about it)
Bert Cherian 
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A
s you approach the retirement age, you start
thinking, 'This could be a good time of my life". You think, ‘I can meet all my friends!’ or 'No more daily grind at the office!' or 'Let someone else fight the daily traffic’. As for me, ‘I'll take a nap and then read the newspaper with a cup of tea.’ Right about now you should be hearing a voice shouting loudly. Bad idea!
Reason #1: You’ll probably fall sick Well, here's the bad news. If you do retire, most men fall sick within two years of retiring! The story is 2
familiar to many of us. But what’s the data behind this? Have any studies been done to show this? Research published by the Institute of Economic Affairs found that there are “negative and substantial effects on health from retirement.” Their report, Work Longer, Live Healthier summarises the findings of the study, based on interviews with 9,000 people in 11 countries.
Being retired meant respondents were more likely to have been diagnosed with a physical ailment, were more likely to be clinically depressed, were taking more drugs and even had a weaker grip. 3
“What my findings suggest is that in the first year or so, there seems to be either no effect or even a positive effect,” said Gabriel Sahlgren, director of research at the Centre for Market Reform of Education in London, England.
Reason #2 Fooled by the Holiday Effect Sahlgren says that in the first year retirement hasn’t hit you as yet. The negative effects take some time before they kick in. The first year is often spent on the ‘bucket list’ of things you always wanted to do but were too busy. Like travelling to Nairobi and seeing the animals in the wild. Or watching the sunset over the pyramids in Egypt. Or going on a pilgrimage. The movie ‘Bucket List’ is a time like this. You realise that time is short and you want to do so much more. If you haven’t done so already, its worth watching. In this movie, the millionaire and the mechanic end up side by side in hospital. 4
Jack Nicholson plays the rich guy and Morgan Freeman the mechanic. The main plot follows two terminally ill men on their road trip with a wish list of things to do before they "kick the bucket." Your health is likely to worsen as you spend more and more years in retirement according to the study.
Reason #3: Your skill set is going to wither away Its odd the rate at which you forget the basics. If you stop working some of your best skills just fade away. You probably did not realise it, but during your working years you kept abreast with new ideas and new ways of doing things. But leave the workplace, and your skills seem to vanish too. Like many things in life, your work skills are also in the category of ‘use it or lose it’. It is in the ‘doing’ of things you learn smarter ways of accomplishing results. And when you do attempt to do something after a long while, you feel rusty. 5
Add to that some unhelpful folks who will tell you that you’re just getting older (so are they!) and memory fades with age doesn’t it? That’s another urban myth. Your mind does not fade away. In fact studies have consistently shown that if you use your mind, it will keep growing new dendrites all the way till the last day.
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Reason #4: You’re going to live a lot longer While India’s life expectancy is around 66 years, its a statistic for the whole country. Taking care and making the smart moves means you will live well into your 70’s and 80’s. The question of course is: What are you going to do?
Life expectancy at birth for countries as defined in the 2013 CIA Factbook One painful fact comes home to many a retiree. One day you’re the boss of an organisation. You’re making important decisions and meeting interesting people. Then one fine day, you’re told: ‘We’re going to have a ‘Retirement Party’ for you! 7
Really? You gamely smile and give the obligatory ‘thank you’. You even play along and put on the red party hat while the staff is clicking selfies on their latest mobiles. The question weighs on you. Am I really going to ride off into the sunset? Is this it? Is it over?
Reason #5: You don’t have to put up with the disrespect Its irritating. You retire and you’re a nobody in minutes. Even your adult children start treating you like you were a bit retarded. What’s going on? Actually its pretty normal. When you don’t have purpose any more, you get cranky and tired and depressed. Pretty soon you’re on medicines. And behind your back, they’re saying things like: ‘He was pretty good in the old days… but now?’
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Reason #6: You’ve only just begun! Ever had the feeling that it’s taken you years to figure out what life was about? You learnt so much over the years. You have so much to offer. You have connections and contacts. You have tons of domain knowledge. It would be such a loss to walk away, just when you’re really useful to the world.
And you are not going to let it go to waste!
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So what should you do? #1 DISAGREE Disagree with anyone who says you should retire! Really. Its a mind game. The system conspires to tell you that you should give way to others. Why exactly? No one knows. Choose to live fully. Its your life and you don’t have to call it quits. #2 STOP Stop feeling sad for yourself No self pity. No lying down and saying its over. Why should you? You’ve always wanted to add value to yourself and the world. What’s more inspiring? Someone who gives up? Or someone who models being fully alive? #3 START Start remembering who you are Remember who you are. You have overcome incredible odds to come this far. Remember your victories. Remember the challenges you’ve surmounted. #4 KEEP Keep learning every day Its time to learn again. To re-purpose your life and get better than you have ever been. The next 10 years? They’re going to be better than ever! 10
This report has been sent out with the kind support on Sanjoy Roy who had launched www.mysecondinnings.com
If re-purposing your life makes sense, mail us at response@metaresults.com
META RESULTS www.metaresults.com
Bert Cherian is an author, entrepreneur and executive coach. He is passionate about building people and organisations.
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