There are emotional as well as financial aspects to a forced early retirement. This article deals with the emotional impact of a forced early retirement. The next article focuses on the financial impact of a forced early retirement.
It’s best to tackle the emotional aspects of a forced early retirement first. Not only will it help you personally, but it will also make the financial aspects of a forced early retirement planning, easier to deal with as well.
Not all early retirements are happy events. Individuals forced into early retirement due to a layoff, or for health reasons, do so unwillingly and usually unhappily. Very few workers forced into early retirement are prepared.
A 2010 University of Zurich study found that blue collar working men, who were forced into early retirement, had a 13.4% increased risk of premature death.
Because so many of us identify ourselves with our careers, what we do is who we are, the psychological impact surrounding a layoff and forced early retirement can be overwhelming.
In many ways, dealing with the death of your career due to a forced early retirement, is similar to dealing with your own death.
You may be going through the 5 Stages of Grief. Developed by Elizabeth Kubler-Ross, the 5 stages of grief a dying person experiences are; denial, anger, bargaining, depression, and finally acceptance.
Depending on which stage of grief over the death of your career you are in, you may be saying to yourself things like “This can’t be happening”, “Why me, it’s not fair?”, “I’ll do whatever it takes, and take whatever pay I’m given, for another job in my career”, “I feel so sad and lost without a job.” And finally. “It is what it is, no point in fighting it, let’s see how to make the best out of my forced early retirement.”
If you are grieving over the death of your career, you need to speed-up the grieving process, and achieve acceptance as soon as possible. You may be dangerously burning through your retirement savings as you grieve over your forced early retirement.
To help you achieve acceptance and get over the loss of your career, skip the career counselor, and instead seek a psychological counselor familiar with the 5 Stages of Grief. Prolonged stress caused by a forced early retirement can lead to depression and anxiety. Two conditions which can shorten your life and make your life not worth living.
If you think you have depression and anxiety due to a forced early retirement, besides grief counseling, there are some very effective things you can do to overcome your depression anxiety.
Exercise. Staying physically active is one of the best ways you can overcome depression and anxiety. The main reason the blue collar working men in the forced early retirement study, had a higher rate of premature death, was because they went from being physically active, to sitting around and drinking and smoking.
Diet and supplements can also be very helpful. The Depression Anxiety Diet Plan is a good resource for help in overcoming depression and anxiety.
The stress experienced from a forced early retirement is caused, in large part, to a sense of being lost and not in control. The good news is that Free Early Retirement can help reduce, or eliminate your forced early retirement stress, by enabling you to control your financial future.
A forced early retirement does not have to be an unhappy event. Some of you will seize upon the opportunity your forced early retirement presents, as an opportunity to re-invent and redefine yourself, to begin enjoying your new life of financial freedom.
Next: Forced Early Retirement Planning – The financial steps you need to take if you have been forced into early retirement.