Job Search – Decision Making – Better Planning – Not just for the younger generation.
I heard a discussion this morning on Midlands 103 about people who are receiving long term unemployment payments. The topic gave rise to the a number of themes including one about people who have “retired” from employment and are finding it difficult to obtain new employment opportunities.
For many years now it has been my opinion that we are not addressing the challenges facing people who are seeking employment due to redundancy, retirement or returning to the work force after a career break. It is not my place to define the word ‘older’ people. We all know when the day comes that we feel a bit older. The disposable throw-away society is not just about getting rid of broken toasters and washing machines. We appear to have a similar attitude when it comes to people of a certain age. While the throw-away society might create more products and more jobs, the same mindset is dispensing with a wealth of experience, common sense and the understanding of loyalty.
Some people who retire in their late fifties or early sixties are quite happy to do so. They have a plan for activities, for employment, for travel or for more engagement with family, and they have worked out a budget, which enables them to do this.
However, many people who have to retire before they are ready to do so, find themselves struggling financially, physically or emotionally. While government has a role in this area, I would like to see employers working with staff so that the transition from full time employment to retirement is seamless, or at the very least, planned to make it a little bit easier.
- Retirement planning should take place at some point during the five years before retirement date.
- This is the time to complete a budget, to revisit your existing work place pension and to investigate your state pension entitlement. How will you manage your bills on a smaller income?
- Will you have to find a job or sign for unemployment payments, because your pension payment does not start for 3 – 5 years after your retirement date?
- Consider reducing your current working week in stages, rather than retiring with a bang. What about other employment opportunities? Will you get similar work in a full time or part time capacity?
- Would you like to work at something new? Will you need to up skill or retrain?
- Are you interested in returning to education?
- Will you miss your work colleagues and the social interaction? Will you miss the routine of daily work? Will you miss having a pre planned purpose or goal?
- How about getting involved in your community, in voluntary work?
- Will you take up new interests, activities and hobbies?
- Perhaps you might start your own business.If any of the above makes you anxious, or reminds you that you have some work to do, then now is the time to make a plan for the next stage of your life.
Even after a lifetime of work, we can all have issues surrounding confidence, fear of change and decision making. If you are moving in to a new world with changes and challenges, give yourself the time to research, to explore and find the path that is right for you.
Planning for retirement takes time. If you have spent 40 years of your life working in a job or various employments, spending a bit of time now to plan your retirement is not a big ask!
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