Retirement is a ‘coming of age’ milestone we often tiptoe around

This life event can mess with your mind, but you can also use it as a springboard to redefine yourself.From the tumultuous journey of adolescence to adulthood, to the unique Singaporean male military experience, to the milestone of achieving legal independence at 21, each transition brings its own challenges and triumphs.It’s a significant life event, a turning point on the same scale as graduations, weddings or having children.

Fast forward to today, where life expectancy has increased to the mid-80s, the statutory retirement age of 63 might seem a tad premature. Singapore is adapting to this new longevity landscape with the adoption of “re-engagement” practices,Retirement is a major life event. As such, it is important to frame its essence accurately: an individual leaving the workforce, not just a job, a role or a position.

The Elsa study emphasises that a successful transition into retirement or overcoming unemployment requires a comprehensive approach. This can be particularly difficult for those who have careers where their personal lives have been intimately intertwined with their work. This friend likened his retirement challenge to migrating to a new country and having to make friends all over again, but without the help of his previous corporate “clout”.

This challenge does not just apply to those retiring from work careers. It also applies to athletes, as we have seen recently with Singapore’s Olympic gold medallist Joseph Schooling –and working to chart a new path with his venture capital project, swim school and charity work – albeit in his case, with a much longer age runway, post-sports retirement.

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