For those of you who don’t know me, I retired 2 months ago from being a full-time academic researching retirement planning for nearly 20 years. Now I am focusing on implementing my findings: for myself, for individuals and for organisations.
As I promised when I retired, I am providing a month by month account of my findings from the other side. As Andrew Hobbs recognised in his latest article I am on a long cruise and as I am writing this we are nearing Hawaii. There are three key things I’ll focus on: travel, time and structure.
Travel
Lots of people on board are using the cruise as a rite of passage or are tired of negotiating for large tranches of time off. Many American passengers with only two weeks leave seem to be in the latter. I’ve never been convinced of the relationship between travel and retirement adjustment. I think holidays and the opportunity of a reset are important throughout a career. Do I feel happier travelling? Sure but who wouldn’t love walking down the stairs every day to a choice of restaurants, entertainment and fitness classes. But who’s to say that three weeks of Dinner Ladies meals and a laundry and cleaning service wouldn’t have achieved the same objective. I’m not sure if it’s the holiday or the relief from everyday domestication that provides the thrill. I guess I’ll need to wait for the 3-month instalment to figure that out.
Time is fleeting
Many people speak about losing time perspective in retirement. Add that to crossing several time zones over a 3-week period, moving your clock forward four times, crossing the equator and international dateline (so repeating a day), I hardly know what day it is never mind what time. We recognised Anzac Day twice – once on the 25th in Australia and then on the 25th on board the ship the next day at a 6am service. I have reverted back to my manual watch and alarm clock to reduce confusion. The luxury of planning each day with absolute autonomy has not lost its charm yet – but it might be a holiday romance. One thing is for sure – I must reign in my online scrolling. At this rate I will be able to name the price and colour of every Hermes bag ever made and the re-sale value of Swiss watches in Atlanta (save the box AND the receipt). I have no idea why the obsession – I have no plans to buy either. Maybe it’s the intrigue of speculative investments?
Structure
Many people that know me predicted that retirement would send me nuts. None of them are retirement planning researchers but all know how seriously I take planning. I went into retirement recognising that I would need some structure. To this end I turned back to our research using the retirement resources inventory to figure out how I might spend the 63 hours I have available. I’ve not used it religiously, but I have used it as a guide to keep me on track. So, every day I spend time on each of the six resource buckets: health, wealth, social, cognitive, emotional and motivational.
For example, I spend a little time checking on wealth by reading articles on what’s happening in finance and especially superannuation. But I have also been checking my other investments and super balance every day (not recommended – it feels a bit like pulling the lever on a poker machine). I think that novelty will quickly wear off. Health wise I’m making a more solid investment. Spending 20 years x 10 hours a day x 5 days a week at a desk is a lot of sitting. I have a lot to catch up on. Almost every day there is at least a fitness class I attend – yoga, stretch, Pilates, TRX. Despite the fact there is food everywhere I am eating better – consciously and deliberately. One thing is for sure – investing in health has never been more obvious to me than on the cruise. Keeping well maximises your options as to how you spend your time and what you can do. Many people in their 60s and 70s are planning holidays around operations, and their activities around mobility issues. I’m still figuring out how I will weave this into my week when I return to Sydney.
Socially I’ve been connecting with people on board doing regular activities, having engaging conversations over dinner and really enjoying spending lots of time with my husband. Cognitively I’ve been doing a lot of reading about destinations, finances, health, attending enrichment sessions, completing puzzles, an online course and improving my photography skills. Emotionally I’ve been taking time out when it’s needed, reading for pleasure and of course continuing to plan for the next day as well as when I return.
If you have someone who you think might benefit from the planner then email me at [email protected] and I will send it when I am back from holidays mid-May. Bye for now.
Joanne Earl is a Psychologist and Honorary Professor of Psychology and Retirement Planning. You can read more about Joanne’s retirement journey via LinkedIn or visit her website at: www.retirementdr.com.au.