How Does Life Change After Retirement?

May 24, 2019

Who doesn’t want to be successful, especially in their career and craft? To some, the only way to achieve true success is by climbing that career ladder and spending all the time working. In fact, the amount of time most of us consume in working is more than half of a lifespan. And with the number of years spent working, you should have an equally solid plan for what comes after. Planning the perfect retirement should be considered thoroughly.

For instance, in the Philippines, the tropical weather makes the country a great place for any retirees to relax and enjoy their retirement years. OFWs (Overseas Filipino Workers) who worked for years and decades in foreign lands usually prefer to return and spend their retirement in the country, as do foreigners who hold Special Resident Retiree’s Visas (SRRVs). Besides the good weather, the cost of living is also low, making the Philippines appealing to retirees everywhere. However, just like in any other country, there are a number of pros and cons to living and retiring here. For example, the health care system in the Philippines is far behind compared to other countries.

In general, preparing for one’s retirement must be planned at an early age. Drastic changes can happen in your health and lifestyle once you start getting older, and these should be prepared for in advance. Listed below are some of the things that can affect your transition to retirement.

1. Health Issues- As you grow older, your health issues increase as well. Not taking care of your body and not preparing enough for the physical and financial issues when it comes to your health may cause you some problems later on. With age, lifestyle diseases start showing more symptoms, and your body is more prone to diseases mainly because old age also weakens the immune system. Your body does not function the way it did when you were younger.
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3. Financial issues- Once you stop working, your finances are no longer the same. When you retire in the Philippines, you typically depend on the monthly pension from the SSS and this pension will be divided into monthly expenses and health maintenance. Having insurance aside from the government-mandated SSS can help ensure and ease your finances, especially health-related expenses. It is better to enjoy your pension in travelling or funding your own business than utilizing it in medicines and hospital bills.
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5. Daily routines and activities- Your daily activities will definitely change once you retire. Your usual busy days at the office or at work will be consumed mostly at home. Finding a perfect activity for yourself can heal your feelings of boredom. It could be sports, art-related activities, business or doing charity work for the community or for your own family. However, it can be difficult for many retirees to find the space to seek out new hobbies if they're worried about their health and budget.
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7. Existential and Identity crises- You’ve been working more than half your life and your lifestyle has adapted to work for a few decades. Transitioning to retirement life can sometimes make you feel purposeless and empty, and this can affect your relationship, health, and even finances. It is best to find comfort and support from your family and friends.
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9. Reflection and contentment- As you age, you have all the time in your hands for reflection and activities you demand of yourself. The more you age, the more you realize the value of having peace of mind. To have a peace of mind and feel worry-less, it is important to always have a fall back in case unexpected things happen.

Changes happen every day, but transitioning to retirement can be one of the most difficult changes for anyone. Imagining yourself doing nothing after years of living an active life can be frightening and daunting, but preparation is always the best antidote to the unknown future. Many people address this by eating healthier or exercising more once they hit their retirement years. However, having a healthy lifestyle cannot guarantee that you won't visit the hospital in your senior years. Sickness and diseases can be acquired anywhere and in an instant.

Having an insurance you can rely on in case of emergency will always help. In the Philippines, there are many HMOs and health care providers that can give financial assistance. Today, affordable health insurance plans being offered by many companies. One example is Paramount Direct's PrimeCare Cash Plan, which offers up to P4,000 each for daily cash benefit and daily ICU benefit.

The PrimeCare Cash Plan is an inclusive and affordable health insurance that can help ease the financial burden if you get hospitalized. Sign up at the button below, and make sure that your retirement years are healthy, happy, and worry-free.

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