Early retirement pension rights, pension fund

EARLY RETIREMENT PENSION RIGHTS, PENSION FUND

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Early retirement pension rights, pension fund, unlocking a pension, planning for retirement to ensure a stable financial situation for as long as you live takes huge investment

And therein lies the problem and why so many people go down hill mentally within a short period of taking retirement and unlocking their pension. I have seen this happen to so many friends and family who have taken early retirement believing it was the key to a happy life only to see them decline mentally. Once the brain starts to go, the rest soon follows and this was despite all of them having plans to play golf or other physical activities to keep fit.

Start of article about retirement and pensions.

Previous page about taking early retirement.

The people I know, many of whom are in the late seventies and early eighties and still playing an active role in their businesses are all still mentally agile and interesting to talk to. Those that have taken early retirement, many of whom are in the fifties and early sixties have become boring and slow witted without exception.

The people who are still working take their holidays, long weekends, play golf or participate in other hobbies and many claim to be working as hard as they ever did. I can't think of any that actually have to work; they do it because they love it. They are all reasonably fit and active for their ages.

Those that have taken early retirement, despite playing golf or doing other things they claim to enjoy all seem to complain about their latest ailments and constantly remark about their age. Most have put on weight, most are drinking far more than they should; most likely out of boredom and many have become old men and women before their time. Retiring it would seem is a catalyst for growing old and preparation for an eventual death.

I have an uncle; I had to think for a second there, as he must be at least ninety years old who still goes into his office most days and plays an active but lesser role in his business. His wife who also still works part time in the business is in her late eighties. Whenever I speak to either of them it is like talking to people half their age. I know they don't need to work as they are both absolutely loaded but they love what they do and their clients adore them. Without them I think the business would go into sharp decline.

My father in law; who I have already mentioned, took early retirement when he was fifty five and I can't have an intelligent conversation with him. He also sees to have gone from one illness to another; caused probably through the fact that he has gained a lot of weight due to inactivity and zero outside interests.

So if you are thinking of retiring or taking early retirement, it isn't just the financial aspects you need to take into consideration nor doing activities that are likely to keep you physically fit. I am of the strong opinion that it is absolutely essential to have something that is going to keep you mentally agile. Give up work just to play golf or go fishing and you will almost certainly see your physical health decline.

I just don't think people think the process of retirement and what it will actually entail through. They may have been stuck in a job they hated for three or four decades but they may also face a further three or four decades of doing very little. When people talk about being bored to death I don't think they realise that it actually happens. In fact, heart disease and cancer, no matter what the doctors tell you are not the biggest killers; it is boredom. Retire and you are likely to be bored to death.

You can't play golf, go fishing or follow some other hobby every waking hour, yet this is what most people tell me they plan on doing for the rest of their lives. One friend who is about to take early retirement at the age of fifty five enjoys off roading. This is what he plans to do to fill his time once he retires. For days after he has been off roading, he can hardly walk. All that bouncing around and bone shaking takes its toll and he is only fifty five and I just can't see him being able to do that for another decade. Then what will he do?

The likelihood is that if he doesn't die of boredom he will become yet another old age pensioner with little to contribute to society and end up in an old people's home where he will wait for death in a semi-vegetative state. This is not an unintelligent man; someone who could continue to provide a wealth of experience and expertise to any business. However, he is one of those people who hates what he does and feels that he has contributed enough.

He at least is not going to become a financial burden at a later stage; he has an excellent pension and plenty of money behind him. However, he is in the minority as most people have made little provision for their retirement fund.

So how do you provide for a decent retirement and pension fund?