Stepping away from a lifelong career brings a whole mix of emotions. For years, our routines, sense of purpose, and social circles are shaped by work. When retirement finally arrives, it’s natural to feel both excitement and a bit of uncertainty. Many of us discover that the transition isn’t just about finances—it’s about finding new meaning, structure, and confidence in this next chapter of life.
If you’re feeling unsettled or even a little lost, you’re not alone. The shift from busy workdays to open schedules can be bewildering. Questions about how to fill your time, maintain connections, keep yourself physically and mentally sharp and manage your finances are common. I went through the same thing myself and learned that it’s perfectly normal to need some time—and support—to adjust.
In my case I really missed the buzz and challenge that I got from my career in IT and no matter how much I tried I could not find enough things to fill my days so I took on the challenge of creating a new career for myself. What I was determined to do was not to go back to being constrained by a traditional job, working to someone else tune and I needed something that would give me the flexibility to work when and where I wanted to work. I am sure many people would think I am completely bonkers for doing something like this at my age but I relished the challenge and it gave me a sense of purpose.
It goes without saying that I had to learn a bunch of new skills and maybe that may put some people off but I decided to invest a little in myself and signed up for a training program that taught me everything I need to know. The old adage that “you cannot teach old dogs new tricks” is complete rubbish, I don’t accept this and neither should you. Often the only thing holding you back is you!
I started my own online business promoting products on the internet and receiving commissions when people took up the offers I was promoting. Using this business model I could get up and running quickly, I did not need to buy products or deal directly with logistics so it was ideal for me as a total beginner. It was so easy to get started, and now my business runs pretty much automatically 24hrs a day earning me an income to spend on the things that matter to me. I would strongly recommend you grab a brew and just spend a couple of minutes listening to the guy who introduced me to what is possible with an online business, Stuart has a fantastic record spanning decades of educating and supporting people wanting to make a change to their lives. Here is a link to his video
If you’re interested in exploring ideas for staying active, building new routines, or even starting a small project or business, there are plenty of articles and support available. Sometimes, the answer is as simple as reaching out and having a conversation with someone who’s been there before. One thing that helped me was connecting with others who understood what I was going through so I set up a Facebook group to help people going through this journey connect and share experiences Your Retirement Hub
The four key challenges I found in navigating retirement.
The research I have done on your behalf clearly identified four key topics that continually top the list of concerns for people that are in retirement or transitioning from work to retirement. Part-1 of this blog deals with the first two topics and Part-2 will address the last two topics.
- Securing Your Financial Future: Planning for Confidence & Peace of Mind
- Rediscovering Your Purpose: Finding Meaning & Joy Beyond Work
- Embrace Your Well-Rounded Retirement: Health, Connections & Growth
- Navigate Your Transition Smoothly: Practical Support for Your Next Step
This list is by no means exhaustive but I hope it gives you some insight into what many people going through transitioning to retirement are typically facing and give you some pointers on how to combat these challenges.
I guess this may be a more male dominated view point so my apologies if this does not fully cover some of the challenges from other points of view but this is my experience after all. J
Securing Your Financial Future: Planning for Confidence & Peace of Mind
The key question that is always on the top of the list is finances going from a full time dependable income to a self-managed financial future is scary, there are so many variables to balance and there are no shortage of “low life’s” that have little compunction in taking advantage of you. Ultimately everyone circumstances are unique so I would highly recommend taking advice from financial specialists and not you relatives or the guy down the pub. The place to start is “Find and advisor” for free advice or you can find an independent advisor at unbiased.co.uk or the Personal Finance Society, either way your advisor should be listed as a FCA approved advisor.
I knew that I was going to have to accept a drop in income when switching from a salary to an income derived from my pension and investments/savings the question was how much of a drop and what did that mean in real terms. I go into this in more detail in my blog “What is the UK Pension crisis and what does it mean for me?” The sad fact is that pensions and savings are just not enough to give us the life we want. The average pension pot for 60-70 year olds in 2024 was £310k and it’s estimated that to achieve a comfortable retirement you would require over double that amount; only 76% of savers are on track to hit even the minimum retirement standard! What that means in real terms is that 76% of people are going to have a pretty grim retirement and could be dependent on loved ones and family for even their basic needs. In telling you this, my intention is not to cause anyone anxiety or scare the hell out of you, it is just to be totally honest with you so you can make informed decisions and not sleep walk into a crisis in the future.
A useful guide is the Pension Calculator on the Money Helper website which will give you a rough idea of where you stand.
In my experience I would recommend that you take a look the information one the “Money helper” website which is backed by the UK government and has a wealth of good information. Another good source of information is the actual UK.GOV website.
Rediscovering Your Purpose: Finding Meaning & Joy Beyond Work
I know from my own experience the sense of loss of identity, drive and purpose in life that came with a challenging career I IT robbed me of my focus and for a time I wallowed around no knowing what to do with myself, there is only so much Candy Crush I can stomach before I felt like I had lost my mind. It felt like I should be enjoying life doing the things I never had time to do whilst I was working but I could not find enough “hobbies” or things to keep my mind occupied which often left my bored and lacking any motivation.
Our generation who are now in their 50s and 60s have never been afraid of hard work and that work ethic has done us proud for all the years we have worked building careers and families. We not only have a wealth of practical knowledge but we have a lifetime of experience which is a font of wisdom that money cannot buy. What we sometimes overlook is the empathetic and emotional skills we have developed whilst raising our families and navigating the struggles of life. We understand more than most the value of the people we have around us and the value of a supportive community.
So how can you can benefit from all those skills and experience by helping yourself and others build a more fulfilling future?
There are many ways that you use this accumulated experience and talent and it does not have to become a chore, you could follow some of the passions you have in life which you never had time to indulge in or you could join one of the many voluntary or charity organisations, one of the best resources I have found is Volunteering matters.
Like my people our age myself and my wife love to travel, not just for holidays to get at elusive sun during the winter months but also for the experiences, it gives you and the chance to learn about other cultures, and of course there is the food and wine. For the more adventurous of you could combine travel with volunteering, Projects abroad, GVI.co.uk and The Great projects are a great way to find something to expand you horizons.
If your local community is important to you, why not give back to the community by taking part in volunteering or charity work. The sense of community, and inclusion you get from taking this approach will help you combat that sense of isolation and loss of identity that can affect you in retirement.
What I did is that I decided to do is challenge myself to learn a bunch of new skills and define a new career for myself as an entrepreneur. Taking on a challenge like this has totally reinvigorated me, given me a sense of purpose and allowed me to rediscover my sense of curiosity that had been suppressed by corporate life. I am now finally doing something I love and building my own business online which will give me an income to indulge myself in doing the things I want to do and not be constrained by lack of money. If you want to know more about what inspired me to do such a crazy thing then follow this link to The Digital Revolution.
From Paycheck to Purpose – Navigating from Work to Retirement – Part 2 will follow shortly so bookmark the “Your retirement site so you do not miss the final part.
I would be happy to answer any questions on this post. Please get in touch or let me know if this post was helpful. Ed.
