Many people spend the last few years of their careers looking forward to their retirement, and they should! It’s time to rest after a busy life. But have you considered that retirement might prevent you from doing certain things? Here’s a look at 18 things you won’t be able to do when you retire.
Pursue Career Ambitions
It can be difficult for people to make the transition from pursuing a career to not working at all. The Guardian talks about cases where retirement is made easier when one’s career goals have come to an end, but for those who are still driven to progress, it might not be as simple.
Maintain Professional Skills
A career is a perfect way to collect skills for many people, and they may want to continue to develop these skills later in life. Of course, retirement would be a roadblock for this, as they wouldn’t be able to continue with ongoing training and development as easily.
Enhance Earning Potential
One of the major reasons for people not wanting to retire is that they just want to keep on making money! Pensions aren’t as strong as they used to be, so switching to being paid by one instead of a salaried income might not be very easy.
Have Daily Social Interaction
Going to work and spending time with colleagues is a great way to keep your social life in check, so dropping this might make some retired people feel a little lonely. Isolation can be a problem for elderly people, so it’s worth considering alternative social groups to replace work.
Gain Influence in Industry
If you’ve spent your whole life making something of a name for yourself in whichever industry you worked in, it’s going to be hard to let go of that! There’s nothing stopping you from staying involved on a more passive level, though, so it could be a good idea to explore alternative ways to do this.
Gain Access to Organizational Resources
Having a team around you at work can help you stay on top of things. Your colleagues will be there to remind you of meetings to attend, and you’ll have access to professional tools to help with these things, too. That being said, you won’t have to remember as much when you’re retired.
Engage in Continuous Learning and Development
As well as maintaining the professional skills you’ve learned at work, there’s something to be said for the general learning and development you’ve been able to do at work. You may find yourself missing that extra level of stimulation when you make the decision to retire.
Experience Workplace Benefits
In the U.S., workplace benefits are key, as we don’t get the same level of care from the state that other countries around the world do. Forbes cites this as a reason why many Americans are actually making the decision to go back to work after they’ve initially retired!
Engage in Corporate Culture and Identity
The identity and status you receive at the workplace might be something you miss when you decide to retire. Some people find it difficult to adjust to a life outside of the corporate culture and the daily routines that come with that, and need to find new ways to define their self-worth.
Get Financial Security for Large Purchases
It’s not as easy to secure loans when you’re retired, as the income that comes with it isn’t as attractive to the banks as a salary. As such, there can be challenges around making substantial financial commitments on your new, reduced budget, so you might have to make lifestyle changes to accommodate that.
Stay Updated with Industry Trends
If you love the industry you work in, you might enjoy keeping up to date with all the latest trends in it, and it might not be so easy to do that when you’ve retired. Sure, you could take it up as a hobby, but direct access to information may not be as possible to acquire.
Expand Professional Network
When you retire, there won’t be as many opportunities for networking and building professional relationships. Harvard Business Review notes that it’s a sad day for both the individual and the company alike when an expert retires and leaves these professional circles because of this.
Increase Income in Business Ventures
Without a salaried income, you may be more reluctant to invest in business ventures. Finding the capital to put in for investments won’t be as easy on a retirement income, which may leave you feeling like you’re missing out on being able to take risks and get involved with these opportunities.
Receive Performance Feedback
Performance reviews are a nightmare for some people, but for others, they’re a great way to improve your skills as a worker and person. You won’t be able to get these in retirement, of course, but at the end of the day, do you think you’re going to need them?
Have Leadership Opportunities
Always wanted to lead your team but never quite reached the level to do that? What about if you’re already a team leader and feel like you’re going to miss leading a team? Either way, these are things that retirement will prevent you from doing.
Have Job Security
ProPublica tells us that it can be hard work to get re-hired after you’ve already retired, so it’s not like you can just change your mind. As such, job security is going to be something you’re going to want to think about before you make the ultimate decision to retire.
Achieve Prestige and Recognition
If you retire, you might be missing out on the chance to win awards or to pick up other kinds of recognitions and accolades in your field. It’s a good idea to consider adjusting your expectations for public acknowledgment when you move into retirement.
Travel for Work
Many people are lucky enough to get shipped off around the world for their work, or even between states. If you love to travel and have the opportunity to do this with your work, then consider how much you’re going to miss it when you retire.
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