August 29

Non-financial issues in Retirement


Money cannot buy everything, but it can sure make life easier. If cashflows are in place, retirement becomes very comfortable.

For a financially independent person, it will be very difficult to be able to adjust becoming dependent on someone after retiring from work. Besides there are other issues to be dealt with.

Retirement brings lot of free time on hand. People are used to a set routine for the day when they have a job. Then suddenly when there is no job to go to, emptiness might creep in. Initial few days, it will feel good. Time will pass doing sundry things. But eventually when it feels like it is time for the vacation to get over, there might be an urgency to get back to being productive. This is the time it is necessary for the person to decide how she/he is going to spend the rest of their lifetime. It is necessary not only for peace of mind but also self esteem. It is easier if things have been thought out in this direction.

Things to do in retirement:

Some people might like to be gainfully employed beyond the years mandated for work by employers in the country. Options are open for them to get back in the corporate world as advisors/consultants, either on full time or part time basis. They can utilize the experience in their area of work to guide, train, advise and motivate people. There are several avenues open in banking, finance, teaching, training, consulting etc. for people who are interested.

Work life sometimes does not permit one to spend much time in doing things that one might like to do. Retirement is the time to pick up old hobbies and develop newer ones. Reading, writing, painting, acting-there is no dearth of things to do. Many people take world tours, or religious tours or travel to destinations they have always dreamt of going to. With the trend picking up, travel agencies are running special customized tours for retired people and senior citizens.

NGO’s are always on the lookout for people who can give time and care to various sections of the society in need of it. People with a bent for social work can always use this opportunity to give something back to the society.

Taking care of one’s health is of utmost importance, as only a healthy person can enjoy life in its entire splendor.


If you have been living in company provided accommodation, retirement also means setting up a new home. Different people have different choices. Some like to move in with their children, some like to move to their own retirement nest. Staying with the family has its own benefits in terms of the love and care provided by the family members. People who have decided to move to their own homes have to take care of several things regarding their homes. First and foremost is the safety aspect, especially because they will be staying alone. Good locality, occupied apartments in the immediate neighborhood and some technological aids like safety doors, video door phone etc go a long way in ensuring peace of mind for everyone. Besides, the location of the home should be such that daily necessities are not difficult to obtain- grocery, vegetable market, pharmacy etc should be close by. Health care should be available close at hand in case of emergencies. Areas of recreation should be easily accessible. Public transport facilities should be available. There should be a balance between peaceful surroundings and convenience of living.

Other Aspects:

Assets that have been accumulated over the earning life have to be well documented. All the papers should be clear. Heirs should be in a position to understand and take charge when the time comes. The papers should be kept safely.

All physical assets such as property, paintings and other collectibles should be checked for wear and tear. If need be, repairs/renovation should be undertaken, which probably was ignored earlier, due to paucity of time.

Last but not the least; a will should be made if one is already not in place. This will save lots of trouble for the family later.



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  1. With increasing life expectancy, life after retirement is as long as life before retirement! You have highlighted very relevant points. Retirement life is as important from emotional angle as it is from financial angle.

    Very nice article!


    1. Well we rteired about 6 yrs ago and it’s so nice not to have a schedule to go by. We were 55 and live at the coast and absolutely love it.

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