With increasing life expectations and an industry wide abolishment of the mandatory retirement age, careers have become longer and longer, with the average careerist now working well into their 60s.
Of course, because of this, professionals have to become smarter when it comes to dealing with working for more years than previous generations. So how can you ensure career longevity, and when should you retire? Here’s out tips for success:
Don’t stress
Throughout the latter half of your career, you may find yourself thinking about when a good time to retire is. Over the years this will inevitably come to the forefront of you thought processes, and may even make you quite anxious. However, we believe that it is impractical to plan too far ahead, due to the stress it can cause, which could end your career prematurely.
Generally speaking, the right time to retire will make itself clearer to you as you move through your career. So instead of actively seeking an end-point, consider concentrating on your work over stressing over your retirement age.
That said, plan ahead
On the other hand, there are certain aspects of retirement that you can begin to plan for as you progress through your 40s, 50s, and 60s. Whereas previous generations wouldn’t have to worry in detail about their pension package, these days professionals can be more proactive during the latter stages of their career, to ensure they get the best deal possible. Talk to your employer, and figure the best solution possible for both parties, and ensure that you keep them posted as to what your plans are, your health and energy levels, as well as your competency. The likelihood will be that you will be as sharp as you ever had been during older age, however, it’s natural for employers to be more concerned about their ageing workers over their younger employers.
Stay in good nick
This generally applies to life in general, however, it really is vital to know your limits as you work your way through the second half of your career. Over-doing it during these stages of your working life can shorten ones career considerably, leading to an earlier retirement age than you may have envisaged.
One particular area that more experienced careerists struggle with is getting enough exercise – a key area when it comes to maintaining good health. So, instead of eating your sandwich by your desk tomorrow lunchtime, consider getting out of the office and going for a walk. Of course, maintaining a good diet and cutting down on alcohol and cigarettes in later life is also highly advisable.
Obtain a flexible pension scheme
With final salary pension schemes coming to an end, pensions have become more flexible, and in some faces, more employee friendly. To get the pension that you want, you will have to communicate with your employer, relaying your expectations and requirements. We advise that you pursue a flexible pension solution so that you don’t have to stress over a fixed final figure to pay each month, as you may find that some months your fixed pension scheme can be a burden, whereas some months you will want to invest more.
Retire over a long period of time
Interesting, a lot of careerists struggle with the concept of retirement when it actually comes to the day of retiring. Going from working full-time to not working at all can be a psychological problem for a lot of people, and is not to be underestimated.
To counter this, if you are planning your retirement, consider restructuring your week, phasing out 1 day per week over the space of a year, and taking a 3 day weekend. In the final couple of years before your retirement, you could even consider becoming a two-day per week part-time member of your team, in favour of making the retirement process more gradual and less drastic!
