(The OECD is the 35-country group whose full name is the Organisation for Economic Co-Operation and Development.) In Successful Retirement: Healthy Aging and Financial Security, U.S. workers generally beat out others in 14 countries for retirement preparation. An impressive 91% of Americans whom Transamerica surveyed felt “very or somewhat” personally responsible for making sure they have sufficient income in retirement vs. just 73% of workers globally. “the U.S. stands out for the high cost of health care and its failure to generate better health outcomes,” AARP and FP Analytics looked at how prepared 12 nations are for the growth of their 60+ populations in four sectors: 1) Community & Social Infrastructure; 2) Productive Opportunity & Economic Output; 3) Healthcare & Wellness and 4) Technological Engagement. 47% of Americans have a backup plan for retirement income if they’re unable to continue working before reaching their planned retirement age vs. 33% of workers overall. 26% of Americans think they are saving enough for retirement — that’s depressingly low, but twice the percentage of workers globally. India came out with the top Aegon Retirement Readiness Index score based on survey questions about: personal responsibility, awareness, financial understanding, retirement planning, financial preparations and income replacement. Indian workers were also the most likely to have a backup plan for retirement. AARP was more interested in aging policy in preparation for the coming rapid growth of population age 65 or older. In China’s 14-year-old Silver Age Action Initiative, retired professionals volunteer to spur local economic and social development.
By Douglas Dubitsky, Next Avenue Contributor
Can a workaholic ever retire?
Many workaholics genuinely enjoy the rush of starting and completing projects and continuing the non-stop cycle. So it may also be difficult for them to contemplate what life may be like in retirement once they are officially out of the workforce.
If you’re a workaholic, smoothing your transition to retirement means uncovering the answer to the question: What part of the end of your job will you miss the most? It might be the people. Or the challenges. Or having purpose. Once you know which it is, you can focus on how to reap the same benefits — and feelings —while not holding down full-time employment.
5 Retirement Tips for Workaholics
Here are 5 tips to help workaholics ease into retirement:
1. Start slowly If you jump into retirement all at once, the shock to your routine might be too much to handle. Instead, look for opportunities where you can work part-time, even with your current employer.
Cut back on your work hours gradually and your non-working life could just slip into place. Look for a weekend job, or an after-hours job, to start while you’re employed full-time. This could turn into part-time employment that you may want to pursue during retirement.
You might want to find out if your current employer would consider keeping you on as a consultant in retirement. This may help your employer retain your institutional knowledge while you enjoy a more flexible schedule.