Introduction
The concept of retirement has evolved significantly since Otto von Bismarck first introduced government support for older citizens in 1881. With life expectancy on the rise, many people are now spending decades in retirement. However, a growing body of evidence suggests that the traditional model of retirement may not be the best path for everyone, particularly when it comes to mental and physical well-being.
A recent article by Melissa Twigg, titled “Why retiring is bad for your health – according to the 70-somethings who refuse to quit,” delves into the experiences of individuals who have chosen to continue working well into their 70s and beyond. The article highlights the benefits of a delayed retirement, especially when one’s job feels more like a passion than work.
In this blog post, we’ll explore why it’s crucial to consider eudaimonic well-being and sustainable livelihoods when planning for retirement.
Eudaimonic Well-being: A Holistic Approach
Eudaimonic well-being goes beyond the mere absence of disease or infirmity; it encompasses a state of complete physical, mental, and social well-being. It’s about living a life that is not just financially secure but also rich in purpose, meaning, and engagement with the world.
Dr. Ralph Abraham, a 78-year-old endocrinologist, exemplifies this. He continues to work full-time, not just for the financial benefits but because his job provides him with a sense of purpose and engagement. He finds joy and stimulation in his work, which keeps him mentally and physically active.
Sustainable Livelihoods in Retirement
The concept of sustainable livelihoods in retirement aligns closely with eudaimonic well-being. It’s not just about having enough money to live on, but also about having a livelihood that is sustainable in the long term, both financially and emotionally.
Tom, a 72-year-old who transitioned from journalism to architecture, finds immense mental and physical benefits from continuing to work. He has made adjustments to his work-life balance, such as moving closer to the coast and allocating time for reading, writing, and exercise. These changes contribute to a sustainable livelihood that enriches his life.
The Social Benefits of Continued Work
One of the most significant advantages of continuing to work past traditional retirement age is the social engagement it offers. Sylvia Paskin, a 79-year-old creative writing teacher, finds that her work keeps her in contact with people of various age groups, enriching her life and keeping her brain active.
The Financial Aspect
While the focus here is on eudaimonic well-being, it’s worth noting that continuing to work can also provide financial benefits. However, as the individuals in Twigg’s article emphasise, the joy and stimulation they receive from their careers are the primary factors that keep them in the workforce, not the financial incentives.
Conclusion
Retirement planning should not just be about financial security but should also factor in eudaimonic well-being and sustainable livelihoods. As we’ve seen from the experiences of those who choose to work past traditional retirement age, the benefits extend far beyond financial incentives. They include improved mental and physical health, increased social engagement, and a sense of purpose and meaning in life.
So, as you plan for your retirement, consider what will make it not just financially secure but also rich in emotional, intellectual, and spiritual abundance. After all, the ultimate goal is to live a life that fulfils your ‘Kokoro,’ balancing financial success with social, environmental, and spiritual well-being.
Academy of Life Planning 