Although planning financially for retirement living is certainly important, many older adults may neglect to figure out what they will do with their life once they have an excess of free time. The Toronto Star reports that those planning for retirement should consider what they want to do beforehand, so they are not left feeling listless once the time actually comes.
"It's one thing to have a financial plan, but if you don't have a life plan for retirement, it's just not a good idea," Elaine Doey told the news source.
"You go from being so needed and so valuable - or at least you think you are - to being kind of a nobody."
In an effort to provide guidance to those who may be looking for direction after ending their careers, expert Suzanne Armstrong recently hosted a two day seminar called Life's Next Steps to help those who are having trouble winding down.
The issue is expected to affect baby boomers especially, the first of which are beginning to reach retirement age. According to the Administration on Aging, the number of people 65 or older is expected to increase to 72.1 million by the year 2030.