The Five Retirement Pathways

"Taylor (2024) concludes that up to one-third of people who retire find the transition either stressful or notice a decline in their well-being, and an additional 10 to 25 percent experience difficulties adjusting to retirement, including mental health complications."

"As psychological and gerontological research accrues, it is increasingly evident that there are five approaches to retirement, and each one can be evaluated for its risk to adjustment and mental health complications, including loss of identity, relationship distress, sadness, loneliness, substance use problems, gambling concerns, and implicit ageism."

"Type One: The Proactive Retiree This low-risk retirement type is the individual who plans out their retirement in multiple areas (finances, health care, lifestyle) long before the final day of employment. They questioned how they would create a meaningful and satisfying retirement years before entering this new phase of life."

While most retirees report positive experiences, research shows significant challenges for many. Up to one-third experience stress or reduced well-being, and 10-25 percent struggle with adjustment issues including mental health complications. Retirement can negatively impact health, relationships, finances, and life expectancy. Five distinct retirement approaches exist, each carrying different risks for adjustment problems such as identity loss, relationship strain, sadness, loneliness, substance use, and gambling concerns. Low-risk retirement types include proactive retirees who plan extensively across finances, healthcare, and lifestyle, and voluntarily employed retirees who maintain work engagement. How individuals approach retirement produces lasting positive or negative effects on their overall well-being.

Read at Psychology Today