Money Matters Monday: The correlation between retirement and depression
On Money Matters Monday, Barry Bigelow from Great Waters Financial tells us how retiring can lead to stress despite this time being what most people dream of.
Bigelow says that a big reason people feel alone is the loss of identity. “We often introduce ourselves as our job titles. For example, I’m a financial advisor.”
He also says that loss of community is something he often finds as well as people start to retire. He says although coworkers may not be your favorite people that they are still your people and losing that sense of community can be tough for folks new to retirement.
Bigelow also mentioned the correlation between health and wealth, stating that you need to accept your emotions. “Savers do not just become spenders, and that can be hard for some people to understand.”