Are you daydreaming about retirement? Are you counting down the days until you can chuck the alarm clock and have the freedom to do what you please? Are you dusting off the golf clubs or checking out RV brochures? 

Or – are you like many people on the cusp of retirement: eager to be out of the workplace pressure cooker but scared to death of what’s on the horizon? Be honest: do you secretly dread the prospect of retirement? 

We were glad to come across this recent article from Kiplinger addressing the issue of “retirement dread” because we suspect it’s more common than many people admit. The idea of dreading retirement doesn’t mean you prefer to keep working forever. It simply refers to the reality that, for millions, retirement is a looming unknown, a phase of life that can last two or three decades, during which time our once-familiar sense of identity can slowly disappear. 

As a famous celebrity psychologist once said, “If you are what you do, then, when you don’t – you aren’t.” 

Reporter Maurie Backman wrote this article for Kiplinger, in which she addresses the question, “I’m burned out at work, but I dread retirement boredom and loneliness. What do I do now?” Let’s see what Backman suggests. 

That “In-Between Feeling” is Difficult to Navigate  

Backman recognizes that the first year of retirement can be a real struggle, something she notes is no secret among impending retirees.  

“If you retire without a purpose or structure, you might flail and face boredom, loneliness or even depression,” she writes.  

(We wrote about the first year of retirement here on the Blog just a month ago.) 

“There’s also the money question,” she adds. “The idea of retiring can be scary, financially speaking. It’s tricky to shift from a lifestyle in which you’re earning a paycheck to one in which you’re living on savings and Social Security.” 

But financial concerns aren’t the only reason that American seniors are remaining in the workforce. “For some people, the idea of retirement could seem downright unappealing,” Backman writes.  

Retirement Isn’t the Carefree Year-Round Vacation Some Expect  

While the stresses of full-time work are well known, the stresses of retirement are less understood. One online “stress test” puts retirement at number 10 among stressful life events overall, even more stressful than a family member’s health crisis or the death of a close friend.   

“Recent Transamerica data finds that many older Americans are dissatisfied with various aspects of retirement,” Backman explains. “Only 53 percent of retirees today have an active social life. A good 27 percent feel unmotivated regularly, and 24 percent often feel anxious and depressed.” 

The main culprit for this? Boredom. For some, unfettered free time is a dream come true. For others, it’s a nightmare. “While you could dabble in new activities, take a class or find other ways to occupy your days, it might not be enough to stave off true mental health issues,” Backman writes. 

This in turn leads to more and more working Americans delaying retirement. In 2024, according to the Center for Retirement Research, the average retirement age was about three years later than it was 30 years prior. “While part of that could boil down to rising life expectancy rates and financial concerns, the fear of ending up unfulfilled in retirement might also be driving this trend,” Backman adds.  

Work is Getting Harder, but Retirement Appears “Depressing” 

If the idea of delaying a “depressing” retirement reality is appealing to you, but you’re also struggling to maintain a full-time work schedule, Backman offers the following ideas.  

Consider working from home or tech-advising: Gary Watts, owner and president of Watts Advisors Tax Planning, encourages seniors to recognize when they have less stamina for full-time work as they used to and come to terms with it.  

“I have a lot of senior clients with exactly the same concerns,” he says. “They don’t want to retire, but conventional work is no longer an option for them.” But there are options. Watts explains that seniors who are tech or computer savvy are in a prime position to help other seniors learn helpful skills.  

“Let’s face it. Many seniors have struggles with technology and basic computer skills,” Watts explains. “They would love somebody in their peer group who could help them. … A senior could work from home and with a screen-sharing capability, set up a dandy little business helping other seniors.” 

Experiment with social media: Watts is a major proponent of older adults sharing their skills with others for both the mental and financial benefits. And he says that a great way to do so is to use social media as a platform.  

“It’s possible that if they get enough followers, they could even monetize that interest,” Watts says. “Young people do it all the time. Why couldn’t a senior be an influencer?” 

While he recognizes it could be a challenge to some older people’s comfort zones, Watts says it might be “worth the leap”; the learning curve is steep, he notes, but not insurmountable. 

Retire in phases: “Many people don’t fantasize about retiring to a beach or a golf course,” says Melissa Murphy Pavone, founder of Mindful Financial Partners. “They enjoy working, having purpose, contributing.” 

Pavone says that retirement is no longer an all-or-nothing prospect. “Retirement doesn’t have to mean you’re done working,” she says. “It might just mean shifting to work on your own terms.” 

Older workers who can no longer manage a full-time job could consider a phased retirement, which Backman defines as consulting or freelance work with flexible hours. It could even look like part-time work in your current field, if such opportunities exist. Pavone suggests “starting a passion project or low-key business that brings joy and income.” 

If finances allow, volunteering and mentoring are two potentially fulfilling avenues. Backman writes, “Similar to Watts’ advice, [volunteering and mentoring are] a good way to give back and find something meaningful to do that can take the place of the contributions you might have once made in the workplace.” 

If Retiring is Undesirable and Work Unsustainable, You Have Options 

While the typical model of retirement—work up to a point, and then stop—is the goal for some folks, for others it simply might not be.  

If retiring is undesirable but your current work schedule is no longer feasible, Pavone concludes Backman’s article with the encouraging refrain that you have options. Consider where your passions and your financial needs intersect; there could be some exciting possibilities there! 

“You don’t have to retire in the traditional sense,” Pavone says. “You just have to design a life and financial strategy that supports the rhythm you want.” 

Rajiv Nagaich – Your Retirement Planning Coach and Guide 

The long-awaited book by Rajiv Nagaich, called Your Retirement: Dream or Disaster, has been released and is now available to the public. Retirement: Dream or Disaster joins Rajiv’s ground-breaking DVD series and workbook, Master Your Future, as a powerful planning tool in your retirement toolbox. As a friend of AgingOptions, we know you’ll want to get your copy and spread the word.  

You’ve heard Rajiv say it repeatedly: 70 percent of retirement plans will fail. If you know someone whose retirement turned into a nightmare when they were forced into a nursing home, went broke paying for care, or became a burden to their families – and you want to make sure it doesn’t happen to you – then this book is must-read. 

Through stories, examples, and personal insights, Rajiv takes us along on his journey of expanding awareness about a problem that few are willing to talk about, yet it’s one that results in millions of Americans sleepwalking their way into their worst nightmares about aging. Rajiv lays bare the shortcomings of traditional retirement planning advice, exposes the biases many professionals have about what is best for older adults, and much more. 

Rajiv then offers a solution: LifePlanning, his groundbreaking approach to retirement planning. Rajiv explains the essential planning steps and, most importantly, how to develop the framework for these elements to work in concert toward your most deeply held retirement goals.  

Your retirement can be the exciting and fulfilling life you’ve always wanted it to be. Start by reading and sharing Rajiv’s important message. And remember, Age On, everyone! 

(originally reported at www.kiplinger.com)