The Challenges And The Opportunities

Retirement By Sumaera Mahmood

Definitions of retirement  the state of being retired from one's business or occupation  withdrawal from your position or occupation  withdrawal for prayer and study and meditation; "the religious retreat is a form of vacation activity"

Late Adulthood  Late Adulthood is the term coined by developmental psychologists describing the period in an individual's life beginning at ages sixty or seventy and ending at death. This life period, like any other, is one of continuing change and adjustment both in the physical and the psychosocial realms.

Retirement age  In most countries, the idea of a fixed retirement age is of recent origin, being introduced during the 19th and 20th centuries - before then, the absence of pension arrangements meant that most workers had to continue to work until death, or rely on the support of family or friends..

 Retirement age for teachers in France is thirty years after employment and age 50 for train engineers [2] on the SNCF, the national railway. Policeman and soldier in the United States are typically allowed to retire at half pay after only 20 years of service or three-quarter pay after 30 years, allowing people in their early forties or fifties to retire.  Many scientists, lawyers, TV anchormen and professors still work well into their 70s.

Decide When to Retire  A secure, comfortable retirement is every worker's dream. And now because we're living longer, healthier lives, we can expect to spend more time in retirement than our ancestors did. Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances.

The Challenges and The Opportunities By sumaera mehmood

Late adulthood is a time of relinquishing some roles and adopting new ones.

 Many seek full retirement, others shift their work roles to accommodate their changing ideas and schedules. Some become caregivers to ill spouses or aging family members. Some may lose their role as spouse, and some begin dating again. For many, being a grandparent is a new and challenging rol . Regardless of the life changes, late adulthood is a time of continued development and enjoyment.

At present time  Nowadays most developed nations have systems to provide pensions on retirement in old age, which may be sponsored by employers or the state. In many poorer countries, support for the old is still mainly provided through the family.  The retirement age varies from country to country but it is generally between 55 and 70. In some countries this age is different for male and females. Sometimes certain jobs, the most dangerous or fatiguing ones in particular, have an earlier retirement age.

Support and funds

 Retired workers then support themselves either through superannuation, pensions, or savings. In most cases the money is provided by the government, but sometimes granted only by private subscriptions to mutual funds. In this latter case, subscriptions might be compulsory or voluntary. In some countries an additional "bonus" is granted una tantum (once only) in proportion to the years of work and the average wages; this is usually provided by the employer.

The cost of health  The cost of health care in retirement is large, because people tend to be ill more frequently in later life. Increasing numbers of older people, combined with an increase in the cost of healthcare, has led to the funding of post-retirement health care becoming a political issue. There is then pressure to reform healthcare systems to contain costs, or find new sources of funding.

Life after Retirement  Retirement might coincide with important life changes; a retired worker might move to a new location, for example a specialised retirement village, thereby having less frequent contact with their previous social context.  In some countries, retired workers will continue to participate in the life of their family and their society, often following ancient ethnic roles. Some countries are sponsoring initiatives to help retired workers keep contributing to social and cultural life.

later years of lives  Many people in the later years of their lives, due to failing health, require assistance, the highest degree of assistance - in some countries - being provided in a nursing home. Those who need care, but are not in need of constant assistance, may choose to live in a retirement home. This is a facility giving the retired person some degree of freedom, yet with close-by medical assistance to handle emergencies.

What to Expect After Retirement  When you are finally there after having finished your teaching career, you will feel you have definitely earned your retirement. The excitement and work involved in the process will be behind you, the dust will have settled and the rest of your life will be in front of you. It can be the most exciting and challenging time of all.

 With that in mind many teachers begin to make plans before they retire to build on successes in the classroom and move into new employment opportunities.  Many people may want to go back to earlier dreams and try to make them a reality by expanding their skills and trying out a whole new field

Decide When to Retire  A secure, comfortable retirement is every worker's dream. And now because we're living longer, healthier lives, we can expect to spend more time in retirement than our ancestors did. Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances.

What stages can I expect to go through as I adjust to my new retired life?  Whenever one retires from the work world, researchers have found that there are definite stages that people go through as they enter this new chapter in their lives. These phases do not apply to everyone, because retirement is experienced on an individual basis but it is worth considering what many people encounter.

ROBERT ATCHLEY (1985)

Proposed a model of retirement that includes six phases.

1. Preretirement phase The worker becomes aware that retirement is approaching. In the years prior to retirement, we save our money, dream of things we want to do, and generally prepare for this change in life.

• Honeymoon phase It occurs immediately after the actual event and is normally characterized by enjoyment of one's free time. Now the retiree can paint the garage, garden, take a trip, and do everything he or she has wanted to do for years.

1. Disenchantment phase The retiree begins to feel depressed about life and the lack of things to do. After the traveling, cleaning, and doing the things most desired, the person gets tired and bored.

4. Reorientation phase

Developing a more realistic attitude toward effective use of time. Here he or she reevaluates these activities and makes some decisions about what is most important.

5. Stability phase

The retirement routine is established and enjoyed. Perhaps volunteer work, visiting, or some other routine is developed that keeps the retiree happy and feeling important.

6. Terminal phase (end of retirement) It occurs when illness or disability prevents the retiree from actively caring for himself or herself. Also happening more frequently is terminating retirement due to employment. Because we are retiring earlier than we used to, many people are young and healthy enough to get another job, thus terminating retirement, at least temporarily.

Professional activity after retirement (age)  Exercising a professional activity after retirement (age) is possible for the self-employed person or assistant who  has reached retirement age and does not yet receive a pension  has reached retirement age and receives a retirement pension  receives an early pension  receives a survivorship pension

Married Life After Retirement  -- the day we retire. And with it comes a host of changes that dramatically and often tragically effect our marriages.

Thanks