It’s a fact that we’re all too aware of. All of the money in the world won’t buy the most crucial resource of all: time.
And while we may be able to leverage time by using technology or employing others, time itself remains finite, and cannot be regained or owned.
Despite this widespread knowledge, we abuse, waste or unwisely use our time far too often. Nowhere does this become more apparent than in retirement. During our working lives our employers or colleagues will exhort us to use time wisely, plan carefully and do our utmost to be efficient. And given how precious our free time is outside of working hours, we often apply that same thinking to our weekends and holidays.
But what happens when you move out of the workplace? We often see retirement as a kind of ultimate end goal. As if having limits on our free time is the only barrier to happiness. However, for many leaving employment, this simply isn’t the case. Studies have actually shown that retirement increases your risk of depression by up to 40 per cent.
This often comes down to a lack of planning. Imagine retiring at age 65 and spending 15 years trying to work out what kind of retirement works for you. Although this may seem absurd, according to The Guardian, this is precisely the amount of time it takes some to get to grips with their new lives. It’s clear that the traditional retirement model presents challenges, as well as opportunities.
There is no ‘one size fits all’ answer. For some, although finishing their current career may be the best option, entirely ceasing to work will bring them no more happiness than if they’d stayed in their original job.
This is why we designed the R Word workshop. By examining each individual’s skills and abilities, alongside helping them to consider new skills they might want to develop, we can enable people to consider their futures, and reimagine retirement. The workshop will lead participants through exercises that enable them to create a plan for later life that can be updated and kept current over time.