The most commonly acknowledged threat to an enjoyable retirement is running out of money. However, another serious threat, but one we don’t hear as much about, is the threat of facing loneliness in retirement. No matter how much money someone has in retirement, loneliness can cause life after work to be far from enjoyable.
Loneliness and social isolation are a serious health epidemic, according to former U.S. Surgeon General Dr. Vivek Murthy. Older adults can be at increased risk due to their greater likelihood of living alone, losing friends or family and dealing with illness. In fact, a 2024 study found that more than one-third of older adults experience feelings of loneliness at least once a week. Reports of loneliness reached an all-time high during the pandemic, and although those numbers have declined, they are still concerning.
Loneliness and social isolation can have a negative long-term impact on health, including an increased risk of dementia, heart disease or stroke. A 2023 study reported that the harm caused by a lack of social connection to be as dangerous as smoking up to 15 cigarettes a day!
We encourage our clients to plan for the social, emotional and mental aspects of retiring just as thoroughly as they prepare for the financial aspects. Here are eight ways to prevent loneliness in retirement.
1. Define your identity and life purpose outside work
While working with many of our clients who transition into retirement, loneliness kind of sneaks up on them; it’s not something they expect. In the years while they’re planning for retirement, they can’t wait to be free of schedules, deadlines and multiple commitments. Once they retire, that newfound freedom is indeed rewarding — for a while — but then many people begin to feel somewhat lost. They soon realize that those schedules, deadlines and commitments actually anchored them and gave them a sense of purpose.
We have found that the more successful a person is in his or her career, the more that individual’s identity and life purpose are wrapped up in, and defined by, work. To avoid the sudden transition from being, for example, an “influential and well-known CEO” to “a former CEO” or “a retiree,” I urge you to explore what your identity and life purpose are outside your work life.
It’s easy to understand how this loss of identity and purpose happens. In many cases, people spend their high school and college years trying to get good grades, competing in sports and preparing for the most successful careers possible. And then once they enter the workforce, the striving continues. People are motivated to get ahead, move up the corporate ladder and earn more money. Every day of life is filled, in many cases, with a frenetic race to the top. But when you retire, that striving is gone. The motivation is gone.
It’s important to recognize that you are much more than just your work title, education, accomplishments and résumé. You are, for example, a loved family member, a treasured friend, an active church or synagogue member and/or a valued volunteer. Before you retire, take some time to figure out what defines you outside work. Put it in writing so you can review it and remind yourself of who you are outside work. You are, in a way, simply “rebranding” yourself.
2. Build relationships outside work
Many times, our closest friendships are with people we interact with in our work. It’s important to build relationships with people outside work because many times, those work friendships decline after retirement. We no longer share common goals associated with a company. A few years before you retire, make it a priority to establish, renew or strengthen relationships outside your work.
That includes renewing or strengthening ties with family members. Maybe you were so busy with your career that you lost touch with family members. Before you retire, consider reconnecting with those people you’ve lost touch with over the years. Make plans to visit them, or for them to visit you, so you can renew those relationships before you retire. They can become a valuable support system for you.
3. Take up hobbies
Taking up hobbies in retirement is another way to combat loneliness once you stop working. We have found that the people who have hobbies tend to adjust to retirement more easily than those who never cultivated hobbies. Taking up a new activity will give you something to look forward to, something to fill your time with and the opportunity to make new friends who share your interests.
4. Be active
If you ever thought, “If I didn’t work so much, I could exercise more,” then retirement is your chance to do just that. Whether you join a gym, take up a new sport or just walk in your neighborhood, make exercise a priority. It will help you maintain not only your physical health but also your emotional and mental health. Exercising can also provide you with a renewed sense of purpose and an area of your life in which you can set and strive to reach goals. It gets you out of the house, boosts your mood and helps decrease depression.
5. Get a pet
If you don’t have a pet, consider getting one. Once you retire, you won’t have to worry about leaving a pet alone at home while you’re at work all day. Research shows that taking care of pets can ease loneliness to a significant extent.
One study revealed that 80 percent of pet owners said their pets made them feel less lonely. Pet owners with the closest bond to their pets see the highest positive impact on their feelings of loneliness and social isolation.
Studies also show that owning a dog can significantly impact your level of physical activity. One study of more than 5,000 adult dog owners showed that people with dogs engage in more minutes of physical activity per week and are more than 50 percent more likely to meet recommended levels of physical activities than people who do not have dogs.
Having a dog in the family benefits children, too. The same study found that children from dog-owning households are more physically active. In one study, young children (5–6 years old) from families with dogs were less likely to be overweight or obese. If one of your goals in retirement is to spend more time with your grandchildren, chances are, they will enjoy, and benefit from, spending time with your pets!
6. Travel
Traveling is one of the most common activities our clients look forward to when they retire. In many cases, we work with our clients to build into their financial plans some epic, bucket-list trips to exotic locations. Other clients enjoy seeing America and visiting friends and family members along the way. And others enjoy day trips to those nearby places they always wanted to visit but never had time to go to because they were always working.
If travel is one of your passions, planning ahead for trips can give you something to look forward to and a new source of fulfilling experiences.
7. Volunteer
Another activity many of our clients look forward to once they retire is volunteering. Getting involved in giving back goes a long way toward restoring your sense of purpose once you retire. You can offer tremendous support to all types of organizations, including local food banks, hospitals, animal shelters, schools and nursing homes. It’s also a great way to meet new people.
Before you retire, look into the types of volunteering that interest you. Contact organizations to find out what types of support they need. Go visit several places and compare notes. Put your volunteering activities into motion before you retire.
8. Learn something new
Many people spend the bulk of their time and energy pursuing knowledge and skills related to their careers. Chances are, there ae some other activities and skills you’ve been interested in but never had time to pursue because you were working and raising a family. There was just no time.
Once you retire, you’ll have time to learn! Whether you want to speak a new language, learn about artificial intelligence (AI), take up astronomy, grow a garden or something else, you’ll finally have time to learn something unrelated to your work. If you’ve never taken the time to think about what you’d like to learn about, make a list. It’s a fun exercise that will help you realize where your passions lie.
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Planning for the financial and other aspects of your retirement can help ensure that retirement is the most enjoyable, rewarding time of your life. Think of it not as the end of your career but the beginning of freedom. You worked hard all your life, and you can make the most of your retirement by filling your time with all the people and things you might have neglected while you were working.
Please don’t try to plan retirement on your own! We have helped hundreds of people retire, and we can help you optimize the best years of your life. Please don’t hesitate to contact us if we can help you figure out what your retirement might look like.
