Today’s news headline is that Sir Alex Ferguson has made the decision to retire. This of course is a high profile retirement, so how are the media responding? There are speculations of who will fill his shoes and a reflection of Sir Alex Ferguson’s Career as a football manager . His decision to retire has led to 1.4 mentions in an hour on twitter which is more than the death of Margaret Thatcher reported by the Guardian.
Retirement, according to the dictionary, is to “withdraw from one’s position or occupation or from active working life”. Retirement can be achieved when you have sources of income that do not have to be earned by working. Retirement is a relatively new concept that has come about as life expectancies have increased. One hundred years ago, the concept did not exist.
One of the biggest life decisions a person has to make is when to retire and what the impact of retirement will have. Of course for Sir Alex Ferguson the financial worries are not an issue but for the average Joe the decision to retire is really led by whether it is a financially viable option. Once overcoming financial obstacles of when to retire comes planning what to do with the new space and time available that was once consumed by long working hours. What we want to do with our time is very much an individual’s choice, but a key commonality is planning. What do I mean by Planning? Well we tend to need a plan in life in order to feel safe and in control even if that is simply to have no plan – that is still a plan !
Studies have shown that planning can help reduce the impact of ‘retirement change’ and the symptoms of mental health problems that are linked to retirement such as depression. Planning is therefore key, the government encourages us all to plan as soon as we begin working by the way of paying into pensions, this focus is purely financial. But what about making long-term life plans so that we feel ready to enjoy retirement.
Peoples personality play a big part in how retirement is going to impact, if you like to keep busy then ensure you plan for that, if you like to rest then again plan for that ,if you need a balance of work and play then again plan for that. Allowing yourself to simply not consider retirement and it suddenly been forced upon you can be hard for the mind and body to adapt – so plan, plan, and plan. We wonder what Sir Alex Fergusons plans are?