5 Reasons Why Retirement Is Hard


“Retirement Is Hard”

“Retirement Is Hard” is the working title to a Doctorate thesis I’m currently working on. It’s a non-traditional doctorate program.

First, it’s an online program.

Next, it’s entirely self led, difficult at times, but very rewarding.

It requires hours of reading, interaction with the public, live interviews, the learning of web development tools, and a writing assignment at least once a week. Rather than having a professor grade each assignment, this doctorate program requires the written word be distributed to hundreds, sometimes thousands, of critical readers, many of them experts in the field. Each has the opportunity to publically comment on my assignment, for all the world to see. Pressure!


I’ve been working on the Doctorate for 13 months.

I started my “Doctorate” program shortly after I finished my Masters Degree at my local car college (I wrote about my time at Podcast University here ). The Master’s program took me about 4 years, and 600 hours, to complete. I’m still taking some of the classes, but my hours have been reduced since I’m no longer commuting to work every day following the completion of our downsizing move. I finished sufficient material to earn the formal “Masters”, but I never received the degree. Maybe I should ask for my money back. Ah, but it was free! The biggest benefit of my Master’s work; it certified me for admission into the doctorate program I’m now attending. I suspect the Doctorate will take me more than 4 years to complete. It’s possible it will take me a lifetime.

This PhD is being pursued via the online university known as The Retirement Manifesto.

I know the founder of the University. I know him better than most. He seems like a decent guy, pretty knowledgeable, and appears sincere in his goal of using the University as a means of sharing his knowlege with the purpose of Helping Others Achieve A Great Retirement. He’s given me complete freedom to write on topics of my choosing. He’s allowing me to develop my Doctorate Thesis, and share the concept with you today. It’s a work in process.

Here’s the overview of my Thesis, which I hope to address in a comprehensive manner through the weekly writing assignments of my PhD program:

Why The Title of “Retirement Is Hard”?

If retirement were easy, there wouldn’t be 23 Million hits on Google to the term “Retirement Planning” (I know, I just did the search). It’s a complex subject, and a perfect topic for a comprehensive Doctoral Thesis. The interesting thing to me; although planning for a successful retirement requires a lot of hard work, there are many who have enjoyed retirement as the best years in their lives. Others face the opposite reality, and “fail” at retirement. What’s the difference between the two groups, and what can we do now to insure we’re in the percentage of the population that loves retirement?

5 Reasons Retirement Is Hard

The chapters in my Doctorate Thesis are outlined below (subject to modications and editorial liberty of the author). You’ll note that almost every article I’ve written to date on The Retirement Manifesto fits into one of the following categories. Each topic is deep, complex, and provides rich material for a comprehensive discussion.

It is for these reasons that Retirement Is Hard:

1. Retirement Is Often Depressing

painThere is clear evidence that retirement, for many, leads to depression. For many, but not for all. There is a large percentage of the population that experiences the opposite reaction to retirement, and find it to be one of the most enjoyable periods in their lives. I wrote about the issue in “Will Retirement Be Depressing”. This week, I read another article entitled “Retire Early, Die Early” which highlights the reality that folks who retire early often die young. Indeed, early retirement appears to be potentially a dangerous dream, yet one which can be met with success if the appropriate planning is conducted prior to the retirement date.

2. Retirement Is Expensive

Money (1)Living for 20 or 30 years without a paycheck doesn’t happen without a plan, which must include a long term strategy for both building the required assets while working, and drawing down those assets once retired. The expenses of living, while potentially reduced from the costs during your “working years”, don’t go away when you retire. Add in the risk of inflation throughout your retirement time horizon, the challenge of health care costs, long term care, and longevity risk, and few would argue that one of the top reasons that “Retirement Is Hard” is that it requires a LOT of money. While it may be hard to answer the question “When Can I Retire?”, it’s a question you must answer if you want to have a truly great retirement.

3. Retirement Requires Change

changeChange is never easy, and retirement is no exception. Retirement rates as one of the Top 10 stressful life events according to the Holmes and Rahe stress scale. Head into retirement with insufficient planning, and the stressful change can catch you unaware. Since we were 5 years old, our lives have been driven by the schedules that others develop for us. Be it school or work, there was a time we were to be there, and a time we could leave. In between, our days were filled with tasks most often assigned by others. After retirement, that all changes. For the first time in 5 decades, our schedules are entirely our own. It’s our resonsibility to fill the hours, often for the first times in our lives. Our relationships with those we love also change. We’re now together much more often, and adjustments are required. It’s concerning to me that “Gray Divorce” (Age 50+) has doubled since 1990, while divorce in other age groups has stabilized (See this New York Times article). Plan for the change, and enjoy the time to spark a new phase in your relationship. My wife and I are enjoying our weekends together now in our retirement cabin, and joke that “I’m now retired, but only on weekends”. In all seriousness, we’re viewing our weekends as mini-retirement experiments, and enjoy exploring things we can do together in our new retirement town in the North Georgia mountains. We took a great hike together this past weekend, and are planning on hiking together at least once per week after I retire. In addition, we’re both seeking organizations and charities where we can get involved individually. Plan for the change, both as a couple and as individuals.

4. Retirement Isn’t Work

Retirement-isnt-workAfter 30+ years of alarm clocks, bosses, and deadlines, retirement represents a real change in lifestyle. For many, it’s hard. For those who have placed disproportionate importance into their careers, the change can be particularly difficult. Read this article if you’re worried about whether or not you’re a workaholic. If you have workaholic tendencies, make an intentional shift now to de-emphasize work and find new interests in preparation for retirement. While some would prefer to work until they die, realize that’s highly unlikely. The fact is, you will retire, and it’s very possible you’ll retire sooner than you’d like. In fact, there’s a good chance you’ll be forced to retire. Plan for it now to increase your chances of a successful retirement. Realize work WILL end, and ramp down your work focus while you ramp up your search for post-retirement interests.

5. Retirement Needs A Purpose

Purpose“The Purpose of Life, is a Life of Purpose”. I heard that quote last year on a Tim Ferriss podcast, and wrote about it in this article about my purpose for The Retirement Manifesto. There has been extensive research which shows those most happy in retirement have developed a purpose for their post-working years. Focusing on broader issues in life is one of the 7 Signs You’re On The Road To A Great Retirement. As I wrote in Will Retirement Be Depressing, there’s clear evidence that developing a purpose should be one of your highest priorities as you prepart for retirement. As you went through life, there have been many times when others have defined your purpose for you. Now, it’s time for you to develop your own purpose. It’s hard, but important.


I’m excited about my Doctorate Thesis, and the many facets of planning for retirement that it allows me to address. There is little doubt that Retirement Is Hard. However, the good news is that many have gone before us on this journey, and discovered the secrets to a great retirement. Take the time now to think about your life after retirement, and address the 5 challenges outlined in this article. Have a plan, and you, too, can Achieve A Great Retirement.

This post is collected from http://www.theretirementmanifesto.com/retirement-is-hard/