So what exactly does it mean to be retired nowadays? For one thing, you can have a job. But that begs the question: if you work, how can you be retired? The answer may be this simple: To be retired, one must believe he or she is retired. In other words, it’s a state of mind. Obviously, there are a few objective components — things like age and the termination of a long-term career. But the subjective component, a personal belief that one is in fact retired, even if still working, is just as important, if not more so.
Basing a definition on how we think of ourselves might seem a little fuzzy; it’s certainly too touchy-feely for someone like me who studies and conducts research on such things. We like strict and unbending empirical definitions. But the fuzzy definition seems to make the most sense. In our book, “The Retirement Maze”, we interviewed retirees to understand how they’re coping with this life stage. In one discussion with two of our participants, Larry and John, we got into how beliefs are essential for defining yourself as retired.
It’s no longer one or the other
