‘Retire’ according to Chambers 21st Century Dictionary means ‘to withdraw; to retreat; to withdraw from society, office, public or active life, business, profession, etc; to go into seclusion or to bed’. This hardly describes the lifestyle of most of the retired people I know. Many lead very active lives travelling, playing sports, studying, participating in club activities, gardening, doing voluntary or part-time work. Now that they no longer have to concentrate on earning a living they expend their energy on things they enjoy doing. The last thing they want to do is curl up and have a nap.
New Attitudes Towards Retirement
Over the years in western countries the nature of retirement has changed. It is no longer seen as a time for reflection and inaction, and there are several reasons for this.
Life Expectancy
‘One of the greatest achievements of the twentieth century has been to add over twenty years to the average age expectancy (at birth) of British people,’ notes Professor R A B Leaper. ‘To survive into “old age” is no longer a
bonus for a small minority of people, but an experience common to the majority.’
1In the past most people were lucky to reach retirement age, and even those who did were often too old and decrepit to enjoy it. Now the average 60-year-old man can expect to live another 16 years at least, and a woman of that age can look forward to celebrating her eightieth birthday. A 65-year-old man can reasonably plan to live another 13 years, and a 70-year-old another ten.
Improved Health
Thanks to improved healthcare, health awareness and diet, people in their sixties and seventies are on the whole fitter and healthier than their forebears. Even those who experience health problems are more likely to surmount them thanks to medical progress. A retired person can expect to retain his faculties far longer than ever before, and even when they become defective medical technology can often provide a solution.
As a result more retired people than ever are capable of leading very active lives. Far from being content to sit back and watch the world go by, they want to play a full part in it, prepared to meet fresh challenges and filling their lives with a wide range of activities, including sport.
Early Retirement
People are retiring earlier. For some public service employees retirement at 55 seems to be becoming the norm, and it seems that 70% of private sector workers finish work by the age of 60. Fewer than 60% of British
men in the 55-64 age group are still in employment. The concept of early retirement is even more entrenched in France where only one-third of 54-64 year olds are actively employed.
Many of these early retirees are in the prime of life who in different circumstances would be leading busy lives perhaps at the top of their trade or profession. Some look round for other work and even embark on new careers; others who feel financially secure seek outlets for their energies elsewhere.
Prosperity
Although the image of the hard-up pensioner persists, an increasing number of people now on the threshold of retirement are actually quite well off. Some ‘woopies’ (well off older people) have inherited wealth from their parents; others may have benefited from the rise in house prices and sold a large family home for a considerable profit; many will have substantial occupational pensions or investments that yield a good return.
‘Woopies’ are not inhibited by lack of finance. Indeed, they may well find themselves better off than earlier in their lives when they may have had to cope with heavy mortgages and support a growing family.
Greater Expectations
With better health and increased wealth people are able to choose how they wish to spend their retirement. They have a chance to fulfil some of the ambitions they have put aside, to embark on activities they have not had
sufficient time for up till now, such as hobbies, travel or study.
Although ambition is regarded as the prerogative of younger people, there is no reason why it should be abandoned as a person advances in years. Today it is not uncommon to hear of people in their late fifties and sixties setting up their own businesses or taking up new jobs. Indeed, in Britain 15% of new businesses are started by people aged 50 plus. There is no reason why you should not plan ahead and decide what you wish to achieve by the time you are 60, 70 or 80.