Fear of having to go back to work

Studies show that more and more retirees are either delaying their retirement past the age of 65 or going back to work.

In 2015, StatsCan, found that 53.5 per cent of men and almost 39 per cent of women who were 65 reported working during the year.

Some reasons for delaying retirement past 65 or going back to work include – not ready to retire; don’t have enough money; bored; lonely; want to meet new people; want to keep busy; etc.

If you’re not financially ready, think about what you can do before you retire to either increase your savings and / or decrease your spending. As already mentioned in this blog, speak to your financial planner to help you develop your financial plan.

Perhaps you will need to delay your retirement and work a few more years or consider going from full-time to part-time work or even do some consulting work.

If you no longer want to do the work you are currently doing, but you still need to work, then are you willing to look for a new job? What does that new job look like? Start thinking about it now and start taking steps towards transitioning to a new job.

If you think you will be bored and lonely, review these two blogs and start taking action before you retire.