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Retirement is one of the biggest transitions you’ll ever make. It’s exciting and frightening, and the emotions around it might sometimes seem overwhelming. In fact, experts say that the changes significantly increase the risk of mental health issues.

These risks can be managed with support and planning to ensure your psychological health is well supported.

Financial security is generally the focus when we plan for retirement. While this is vital, psychological preparation is also key to a successful, happy retirement.

Here are a few things you can do to support positive mental health in your retirement planning.

Start planning early

The earlier you begin planning, the better. With time, you can consider the impact retirement may have on your life and create strategies for those factors within your control.

For example, think about your retirement expectations and the lifestyle you would like to continue into retirement. By establishing social and emotional support networks, you’ll have set up proactive support for the retirement you hope for. This will also allow you to create contingencies for the unexpected.

Look at wellbeing factors

Your wellbeing is connected to how active you are in retirement.

There are five ways to wellbeing in retirement:

  • Connection with others
  • Being active
  • Mindfulness
  • Continuing to learn
  • Giving back

By focusing on these ideas, you’re able to support a happy and healthy retirement.

Set clear goals

With some preparation, retirement can be one of the best times of your life. The Australian Institute of Family Studies found that life satisfaction increases in the years following retirement.

By establishing and working towards goals, you’ll feel a sense of purpose in retirement that used to be occupied by work.

Don’t be afraid to get help planning!

Our partners at SuperFriend offer a seminar for Planning for a Mentally Healthy Retirement. This provides you with strategies to prepare for retirement by helping review factors that may impact your wellbeing in the future.

This is more than merely hypothetical as participants use a retirement planning tool that will help you identify areas of your life that may be affected.

Having a strong plan to get into retirement is essential to making the most of your experience.

Let’s talk about your plan for life in retirement. Get started by calling us on 1300 658 776.