“I will never be an old man. To me, old age is always 15 years older than I am.” – Francis Bacon
In years gone by, people used to work, regardless of their age, until they no longer physically could. In 1916 the German authorities decided that 65 would be the age when Government retirement benefits would kick in for its citizens, according to time.com. Other countries soon followed in Germany’s footsteps and the retirement age of 65 has been contested ever since.
The problem today is that governments can’t sustain their growing ageing populations with pension payouts for so long. The ability to grow older and live longer also means that most people will need a lot more money to cover their retirement and medical costs. Today, many countries are gradually increasing their retirement age. Dutch citizens retire at 68 and Denmark is aiming for a retirement age of 72 by the year 2035.
Sixty-five is no longer viewed as the onset of old age but rather the start of middle age. Depending on your health, you might consider to postpone your retirement or to view it, not as a slowing down, but as an opportunity to “rewire” yourself. Working longer means more time to save and grow your retirement investments and reap the benefits of compound interest. Ironically, studies also show that people who work longer, live longer and healthier lives.
How can you rewire yourself during retirement? Rosabeth Kanter, professor of business at Harvard Business School, says the first step is to eliminate the term “retirement” by inventing a new stage of life: the new career arc. Many also refer to this as the second career. Here are some examples:
Age is but a number and you are only as old as you heart feels. Perhaps we should follow in the Japanese tradition where a person’s sixtieth birthday, Kanreki, is viewed as an important rebirth. This rebirth signifies the completion of a life cycle. It is a celebratory and symbolic return to childhood that encourages you to play and explore. The person who reaches Kanreki, rekindles his or her adventurous spirit and grabs the second chance to do everything he or she has always wanted to do but never had the time for. What are you waiting for?
Sources: time.com, brainyquote.com, japantimes.co.jp, schoutenzekerheid.nl, boomingencore.com, newretirement.com, bbc.com