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The Key to Happiness Later in Life: Is It Work or Retirement?

Couple walking on a path with their dog

What makes for a happy life has been a question people have been asking themselves for generations.  

Is it working? Yes. It is for some people.  

Is it retiring? Again, yes, it is for some people. 

So if it doesn’t matter if you work or retire, then which one is right for you? Recent studies have found that the true key to happiness is finding your purpose in life, whether that’s working, retiring or working while retired. 

What We’re Learning About Happiness

Ayse Birsel, author of “Design the Long Life You Love, A Step-by-Step Guide to Love, Purpose, Well-Being, and Friendship,” found in her research working with older people that while an estimated 87% of Americans fear aging, there is much to look forward to.  

Mark S. Walton, author of “UNRETIRED: How Highly Effective People Live Happily Ever After,” based on interviews with nearly 1,500 retirees by the psychologists, Dr. Rob Pascale and Dr. Lou Primavera, sought to get to the root of a central underlying question: Now that you’re no longer working, how are things going for you? 

“Full stop retirement is not right for everybody – in fact, for a solid majority of people, it can turn out to be a seriously bad idea,” Pascale says. “Our research showed that only 44% of people ever consider themselves to be happy after they stop working.”  

According to U.S. New and World Report, 78% of people aged 50-94 said that working while retired – with its constant socializing and moving – positively affects their well-being overall. 

10 Ways to Find Purpose in Retirement

 “No matter their age (some of these people were in their 90s),” Birsel says, “nobody said it was too late. They came in and talked and laughed about their life with so much positivity and optimism. They acknowledged the challenges. In thinking about their life creatively, they also saw so many opportunities.”  

Here are 10 ways to design your life to live proactively and with intention. 

  1. 1. Set goals: Set personal goals like learning to draw or paint, building a deck, writing your memoir or becoming a backyard beekeeper. 
  1. 2. Create structure: Work came with its own specific morning routine. Retirement is a time to start a new morning routine. Having commitments on the calendar will also help give structure to your week.  
  1. 3. Be social: Expand your social circle by participating in activities you enjoy. Meet with friends for lunch. Join a card club. Volunteer for a cause you believe in.  
  1. 4. Keep learning: Being a lifelong learner offers both intellectual stimulation and personal enrichment. Take a course at a local community college or adult education center, learn a new language with an online app, join a book discussion group or explore a new hobby. 
  1. 5. Create a financial plan: Work with a professional financial advisor to determine how much you can safely withdraw from your savings every month without running the risk of outliving your assets. This will give you the confidence to spend the money you saved so you can enjoy your retirement. 
  1. 6. Pass on what you’ve learned: During your career, you collected a wealth of talent and knowledge. Share what you’ve learned by teaching a class at your local community college or by mentoring young people. 
  1. 7. Focus on your health: This is the time to prioritize your health by establishing healthy habits like regular exercise, eating right and following your doctor’s medical advice.  
  1. 8. Talk with your spouse: Determine how household tasks will be divided and discuss your goals and dreams for this next chapter of your life together.  
  1. 9. Start a side hustle: You could work part time as consultant in your former field or work part time in an industry that speaks to your personal passion.  
  1. 10. Adopt a growth mindset: Instead of thinking about all the things you can’t do, focus on what’s possible and grow in that direction. 

There’s No “Right Way” to Retire

Gone on the stereotypes of retirement being about gardening, golf and grandkids. To enjoy life, it’s important to do what you want to do, whether that’s continuing to work, retiring or finding a working while retired combination.  

What’s most important is finding a community that supports the retirement lifestyle that appeals to you, like what you’ll find at Lake Port Square. Let us take care of all the household responsibilities and even the cooking, giving you the freedom to enjoy life your way. Plus, you have the peace of mind of access to higher levels of care if ever needed. 

Start Enjoying Life Your Way

You don’t have to be retired to enjoy retirement living! And if you’re finding you need to build some routine and purpose into your life, we have more than 70 interest groups and tons of activities for you to join in. Schedule a visit with us today by using our Community Chat feature or contacting us here.