What’s the best way to “test drive” a retirement before you leave the office?
MARC AGRONIN: Retirement can be one of the most significant and challenging life changes. What is initially gained in terms of leisure time and reduced stress can be offset by the loss of daily routines, socialization and purpose.
Several studies, including the ongoing U.S. Health and Retirement Study, suggest that there is the potential for worsening physical and mental health after retirement, especially when it is involuntary. A recent study by the Institute of Economic Affairs in Great Britain sounded an even greater warning, finding that retirement is associated with a significantly increased probability of depression and declines in self-assessed health. These data suggest the need to prepare assiduously for retirement as one might prepare for a major journey.