When I'm at work: retirement planning - Supported employee's workbook
Chapters
Meeting 1 - What is retirement?
What is retirement?
Retirement is a time when you stop doing something.
People retire from their work, the football team they have been playing with, a committee they have been on, and so on. Retirement from work is when you no longer go to work and receive money for the work you do.
People retire from work for different reasons.
- They are tired and do not want to go to work anymore.
- They are happy they have done all the things at work they want to do.
- They want to relax more.
- They want to travel or do hobbies.
- They are not well.
- They have saved up enough money to live on without needing to work.
- They want to spend more time with family or friends.
While you are still at work, it is a good idea to think about why you want to retire and when. Spending time thinking about what you want to do when you no longer go to work and talking with people will help you make your decision. This is called your retirement planning.
What do work and retirement mean to you?
Draw a picture or write words in the circles about what work means to you.
Draw a picture or write words in the circles about your ideas or dreams for retirement.
This is my life
There have been many important events in your life. Think about these. Write your age when these events happened or will happen.
Retirement will be an important event in your life too. Write down how old you will be when you plan to retire.
| Age | Event |
|---|---|
| This is how old I was when I started school. | |
| This is how old I was when I had my first job. | |
| These are other events that have been important in my life and how old I was when they happened. | |
| This is how old I am at the moment. | |
| This is how old I will be when I plan to retire. |
When can I retire?
It is your choice when you retire.
It is important to think about how you will spend your time when you are not going to work anymore.
It is also important to work out how much money you will need, and how you will manage with less money, when you no longer get a wage from doing your job.
Sometimes making decisions about these things is not easy. It helps when you talk with other people who know you or have the information you need.
Talking with other people will help you decide if you:
- will have enough to do during the day when you aren't going to work anymore
- have enough money saved up to do the fun things you might want to do
- have a suitable place to live
- can get a pension or other income
- can get to the places you want to go.
When do I want to retire?
Ask yourself these questions.
- When do I want to retire?
- Am I happy I have done lots of different work?
- Would I like to work for shorter hours each week before I retire?
- Would it be a good idea to take my annual leave and long service leave before I quit my job to retire, so that I can try out not coming to work each day?
- Am I feeling a bit tired or not very well? Do I need a rest from working in a paid job?
What other questions would you like to ask?
What would you like more information about?
Gathering information and getting advice
Think about people you know who are retired – they may be friends, relatives or neighbours.
Let them know you are planning for your retirement. Ask them if you can talk to them about their retirement.
Here are some questions you may like to ask.
- How old were you when you retired?
- What are the best things about retirement?
- Do you miss work?
- Is there anything you think I need to consider before I decide to retire?
Bring this information to your next meeting.