Retirement represents a unique life transition for men. Men encounter distinct challenges as they navigate this period of change. The 3 primary challenges for men are: 1 Identity Crisis; 2 Work-Life Balance; 3 Social Isolation. Unlike women, who may seek advice on a consensual basis, men are more likely to approach retirement planning independently. Additionally, a man’s comfort within hierarchical structures can shape their approach to retirement decisions. A man’s retirement will be different from that of the various women he might know.
Identity Crisis:
Men derive a significant portion of their identity from career accomplishments and professional roles. Consequently, retirement can trigger a profound sense of loss and uncertainty. A second career in retirement has its own challenges. You’ll be unlikely to experience the authority you once had.
In a second career, a man’s competition will likely be someone much younger and much less experienced. You may face being outperformed by someone younger than your grandchildren.
Work-Life Balance:
Upon retirement, your Work-Life Balance will disappear. Now you are on your own for creating a new lifestyle balance. Men must understand that the Work-Life Balance is a continuous work in progress. In retirement you will always be adjusting the balance.
Social Isolation:
Retirement can highlight feelings of social isolation for men. Replacing professional camaraderie will be a challenge. Men may struggle to maintain meaningful social connections and find outlets for camaraderie and companionship. For many men, volunteer work is rarely as fulfilling the professional arena.
The information contained in this Higgins Capital communication is provided for information purposes and is not a solicitation or offer to buy or sell any securities or related financial instruments in any jurisdiction. Past performance does not guarantee future results.
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