Getting a stable and reliable job remains one of the most important goals of life. Each person considers different factors when thinking about the type of career they want. The first aspect that many individuals look at is income. Income is the monetary reward that a person gets after working. Many people favor jobs with pay that can easily meet their demands. Young people, especially the millennials, want jobs that can guarantee them work-life balance. As such, this means that they are likely to be attracted to career opportunities that will likely give them a chance to explore other things in life. Others are guided by personality factors such as hobbies, passion, and prestige (Khairani et al., 2018). Some people will also join business at the expense of an employment opportunity because they want increased control of their time. It is therefore clear that these factors differ from one person to another.
Retirement is a situation where a person has withdrawn from active working life due to age, personal decision, policy, or a medical reason (Bigelow, 2009). For me, the most appealing aspects of retirement include the reduced pressure to work and the ability to spend time with one’s family. Also, retirement means that a person can now explore other aspects of life such as business ventures with minimum control. I want to retire at the age of 55. I believe that this is the perfect age to stay away from active professional life and settle down with my children and grandchildren. I do not favor a situation where a person continues working up to the age of 60 because by doing so, one places themselves at an increased risk of diseases and injuries. More importantly, it is only fair to retire early and allow the younger generations to get a working opportunity.
Delegate your assignment to our experts and they will do the rest.
According to the retirement calculator, I will need to save at least $150,000 per year. I believe that saving money at this rate will guarantee me a good life once I am out of my work. Retirement and longevity also come with a shot of challenges. With the prospect of ailments and additional expenditures, budgeting can be a major problem. Also, coping up with the needs of the family can present a retiree with expenditure problems. Thirdly, life without a formal job can be a significant issue especially if the person was used to working. In ensuring that I have a good life after retirement, I will need to use several strategies to guarantee adequate savings. Other than personal savings in the bank, I can buy shares in major companies and also acquire assets such as land and houses. Also, I will consider engaging in investments and business opportunities.
Post-retirement is a critical period in life. Based on the several sociological theories, it is regarded as a time where individuals seek a sense of accomplishment. However, without the achievement of one’s goal, an individual can easily experience the feeling of despair (Tacchino, 2013). In ensuring that this does not happen, I will need to structure my life by creating a distinct identity from my previous career. I will be an active member of social groups such as the church and community initiative forums. I will also engage in activities that keep me busy such as reading books. Most fundamentally, I will need to connect with my family members by attending family meetings and gatherings.
After a survey with George Peters, a 63-year-old retiree, I found out that most of the responses line up with the research findings. He has now stayed in retirement for three years having retired at the age of 60. He has a firm financial ground due to the savings and investments he had made in the fields of transport and real estate. He has structured his post-retirement life by participating in community initiatives and engaging in philanthropic work. In a bid to stay connected with his family, he recently asked all his children and grandchildren to move into his newly acquired home. George advised me that as I begin my profession, saving should be a top priority for me. He emphasized that it does not matter how much I save, but I should put it as part of my culture.
References
Bigelow, D. (2009). The Successful Retirement Guide: Hundreds of Suggestions on How To Stay Intellectually, Socially, and Physically Engaged for the Best Years of Your Life. Library Journal, 134(12), 113. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=lfh&AN=43425604&site=eds-live
Khairani O., Mohamed N. A., Ismail Z., Shalinawati R., Chamhuri N. H., & Rahim N. S. (2018). Reasons for Choosing Medicine and Career Suitability among Medical Students. Medicine & Health (University Kebangsaan Malaysia), 13(1), 97–105. https://doi.org/10.17576/MH.2018.1301.10
Tacchino, K. B. (2013). Planning for a Successful Retirement: Overcoming Conventional Wisdom. Journal of Financial Service Professionals, 67(5), 7–11. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=89934876&site=eds-live
