Retirement Ready

On this week's Keepin It Real, Cam Marston and his buddies are beginning to discuss retirement. Cam's learning, though, that maybe working so hard to get to retirement may not be worth all the effort. 

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The subject of retirement has come with my crowd lately. A few years ago, we maybe whispered about retirement, but now it’s a full-on conversation – when are you going to retire, we’re asking each other. How will you know it’s time? The answer from nearly everyone is “as soon as possible” and “I’m ready right now.”

Last week I had breakfast with a lady in healthcare who leads education for medical doctors for a very progressive organization out west. We talked shop for a bit. She had lots of ambitions plans for her organization. She sounded like someone fully engaged and stimulated by their work. My guess is she’s about my age and I asked if she ever thought about retirement. In a rush she said “Oh goodness yes. I can’t wait.” “When do you want to retire?” I asked. “As soon as I can,” she said. “But it sounds like you enjoy your work.” I was confused. “I do,” she said, “but I’m ready to not have to do it anymore.” She enjoyed it but doesn’t want to have to do it.

Similarly, I’ve heard more references to burnout recently than I’ve ever heard. A friend in Mississippi said his wife could tell he was burned so badly that she needed him to either take a year off or buy a new boat. Now that’s a supportive spouse! He was lucky to have her and he knew it. I’m hearing burnout references in my calls and with other friends and colleagues, too. Seems like Covid ramped up burnout – before then I seldom heard it. Since then, I hear it more, especially recently. Social Scientist and author Arthur Brooks defined burnout as a “vortex of exhaustion, cynicism, and self-criticism.” Wow. But, yep! They all feed each other. The things that used to make you happy about your work now make you unhappy. And, for what it’s worth, I read a study that Gen X’ers were experiencing burnout at higher rates than not only any generation today, but any generation every surveyed. I guess that’s something to brag about – my generation has broken the unhappiness bell curve.

Burned out and aching for retirement. No employer wants that guy on their team. Then I read that over forty percent of retirees have an unsatisfactory retirement. Retirement’s not all it’s cracked up to be, they say. Without work, they have no friends and no purpose. The “retirement red zone” is an expression financial professionals use to refer to the five years before and after retirement when you’re supposed to get your financial world in order. Turns out this red zone also refers to getting your non-financial retirement world in order, too – making friends outside of work, developing curiosity to drive your hobbies, especially hobbies that include meeting new people. Learning to structure your day when no one else is telling you how to do it. And then, of course, healthy activity. No retirement is enjoyable if you let your health go.

It all makes me wonder, as I feverishly work towards my own retirement, if the emotional and psychological price I’m paying to get there will be worth it?

I’m Cam Marston, just trying to keep it real.