PRINT OUT STRESS AND FILL IN HAPPINESS IN YOUR RETIREMENT LIFE.

PRINT OUT STRESS AND FILL IN HAPPINESS IN YOUR RETIREMENT LIFE.

Retirement is defined as a period of life when one chooses lastingly to leave the labor force behind either voluntary or compulsory. In Tanzania the traditional voluntary retirement age is 55 while compulsory retirement age is 60, this is according to the (SO 2009). Likewise most of developed country their retirement age is around 60-65 for stance in the United States and most developed countries.

The retirement time is likely to be a deadlock thinking to most of retirees particularly in Tanzania. When the retirement time reach most of employee’s starts to have over dream and dark expectation because of many factors such as past financial misbehavior, fearing the externalities of the future, over expectation, delay  to get their pensions, lack of clear plan/project to do, fear of new life, lack of alternative source of income among others.

Due to these challenges I conducted an open research on retirees life rate which demonstrated that 50-60% of employees get stress stroke and body paralyses, 10% of retirees affords to run their new projects due to their past positive investment strategic and experiences, 20% of retiree pass away early after their retirement with the age between 60-70 this because of unfulfilled expectation, stress due to delay of their pension, over expectation with poor aftermath.

Retirees are very essential assert in growing modern and strong industrial based  national economy simply because they have enough overcast experiences in their field, they are very potential also in advise therefor better to protect them through providing social security income, love, psychological education,  care and sometime using them through contracts, having old and health retirees indicates wealth, peace, love, respect and blessing in the country because every employee will retire so better to create good and friendly platform for old/retirees and relax time. In the U.S., for example, the Social Security Administration (SSA) has been offering retirees monthly Social Security income benefits since 1935.

 In order to handle this problem I have suggested three areas to be realized and considered (Retirees, government, environment). This mean that retiree themselves they need education (Retirement trainings, workshops and seminars) as well as meditation in their peace of mind this will reduce the rate of stress and overthinking, here the government must formulate good retirement policies and scheme for retirement sustainability this will value them and respect their contributions in national building, lastly environmental education is more vital to retirees this will help them to have proper and perfect plan/project to do, in additional to that environmental education should goes together with entrepreneurs and investment education.  

Furthermore, in helping retirees and other employees I have proposed to learn and understand SWOT analysis as a strategic planning technique which may be used to help them in identifying retirement strengths, weaknesses, opportunities, and threats.

Strength of retirement.

Health Benefits, Here retiree get enough time to have enough food and time with their families. Moreover, Retirement is often associated with a time of poor or declining health. However, retirees have more time to sleep, exercise and choose or prepare healthful foods making retirement an opportunity to actually improve overall health. Many retirees take up an athletic hobby, such as golf or walking, which can easily be carried over into later life and promote longevity.

Stress reduction, retirement can be good for a retiree's mental and physical health. Jobs are a major source of stress for many employees, and retirement may offer relief. By removing the need to perform to a high standard and meet specific targets. The process of meeting with customers and Boss instructions create mental busy hence it led to the rise of stress.

Some retirees can use their new-found free time and accumulated wealth to become involved in philanthropic activities. From making charitable donations to serving on the board of a community foundation.

Retirees can use their skills, knowledge and experience they developed over the course of a lifetime to meet the needs of the community and national in general.  

Family connection, Retirement offers the advantage of allowing more time and energy to spend with their family. The classic instance of retired grandparents serving as babysitters is only the most common example. Retirees can use their new lifestyle to spend more time with adult children, distant family members, retired siblings and close friends.

Weaknesses

Decline of plan for every year. At its core, retirement planning is about envisioning the life you want to live after giving up a full-time career. Identifying your “number,” requires an examination of your spending habits adding some cushion for inflation and healthcare costs but also a close look at your happiness index. Many people do their best to anticipate wants and needs 30 years down the road, but understandably they fail to account for the big shifts.

Retirees are not partnering with a financial professional. In the Internet age, when even the most complex information is available on demand, there’s virtually nothing Google cannot answer or so it would seem. In reality, online tools and retirement calculators don’t go nearly far enough in providing comprehensive, individualized advice.

 Likewise lack of creativity because most of retirement planning resources available through your employer and not employees hence after return back to the society it is difficult to make any plan. Do it yourself retirement planning is particularly ill-advised if you’re an affluent or high net worth individual, for whom “saving as much as possible” is no longer the name of the game.

Paralyzed thinking and innovation due to last of your daily career practice like what it was before you retire.

Opportunities

A new lifestyle, retirement has the advantage of being one of the few times in life when many people can freely reorganize their lifestyle and its priorities.

Spending more time on a hobby with family, following an intellectual pursuit or traveling can define an entirely new way of life, especially if a career dominated much of a person's time commitments prior to retirement.

Health relaxation, After a long journey of working a human body need to rest or reduce heavy work and get enough or health food hence after retirement employee get enough time to recover their body for sustainable power and health.

To practice more strategic tax management. Modification of retirement plan for tax-efficiency isn’t about paying less than you owe; it’s about supporting the causes that matter to you and transferring more or your wealth to the next generation. With the help of financial advisor, you should take steps to determine your current (and future) tax burden, and design strategies to minimize the amount of tax you pay in retirement. This can include decisions about how you will invest, how to contribute and withdraw from tax-deferred accounts, how you plan for charitable giving, even where you choose to live in retirement.

 To reconsider conservative investments and savings. Saving can go down or up depend on the style and strategic your using.  To offset this decline in purchasing power, you need to tap into investment/savings vehicles that will help your assets keep pace with the cost of living.

Threats

Failing to track or plan well the financial spending. Most of retirees fail in this area simply because they experienced only monthly salary hence thy fail to balance their pension money instead they over use.

Increase of disease which led to the paralysis of body mental stress which can result from overthinking, lack of smart vision, lack of advice and delay of pension payment.  When an employee retire they are in high risk to get this problem.  

Failing to plan for an unexpected job loss. There’s no rule that says retirement has to start at age 65. And in fact, many professionals are planning to stay in the workforce well beyond their mid-sixties for financial and/or personal satisfaction reasons.

Early death. Most of retirees there in danger of death few days after their retirement time because of disease caused by stress and other externalities.  

A SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is an organized planning process that can help you gain insights into your retirement planning. The goal of a SWOT analysis is to capitalize on your strengths and determine areas of weakness you can improve upon. Take the time to protect your future. Print out stress and fill in happiness in your retirement life. Hence the road to retirement is hardly a straight line.

 Retirement Planning – SWOT Analysis- Summary.

1. Strengths:
2. Easy to get money due to the face to face project supervision/mutual
3. Persistence of Workforce
4. Environmental interaction and understanding.
5. Proper management of project.
6. Expansion of retirement Assets
7. Easy interactions with  customers

Weaknesses

1. Increase of Debt from household and  country
2. Unemployment
3. Stress
4. Health problem
5. Reduce of critical thinking
6. Entitlement Programs
7. Underfunded retirement plans

Opportunities:

1. To understand Cultural Shift through  Statistics age
2. Increase of product innovation
3. Change in work structure
4. Team/Integrated Approach

 Threats:

1. Duration to live is low/Longevity
2. Disease and stress
3. Increased complexity of financial instruments
4. Increased accounting & financial regulation
5. Aging of financial professionals
6. Prerogative culture and attitudes.

 All in all retirement marks the end of a person's working career. Employees after their retirement faces many challenges like stress, disease, death among others however retirees in recent decades have fundamentally redefined what it means to be retired. Nowadays, retirees are often active in a variety of areas and may even pursue part- or full-time employment after leaving behind a career of many years. This prove that retirees are inheritance in the national.