Your story – Michael

4

First Name: Michael
Gender: Male
Age: 60-79
Children: Two sons

Highest school level: College/University degree

Social background: Born in London just before the “blitz”. As a result moved around a lot in early years.
Graduated from College of Estate Management in London with equivalent of land economics degree.

Early adult life rowed very seriously for five years until moving to Canada with employer, soon after marrying in 1965. Later moved with same employer to Australia in 1972. Moved back to UK for several years before returning to Australia in 1981.

Career: Majority of working life involved with property investment, management and development at a senior level mainly on commercial, industrial and retail real estate. Final position was managing director of the small local subsidiary of a large private UK real estate group (for 16 years).

Retirement plans: Already wholly retired

Forced into retirement: Yes

Retirement preparation: Took up a semi professional wood working course.. Also investigated possibility of taking on a new career.

Describe typical day: Retirement: Varies from day to day. Mixture of keeping up to date with mainly Australian and UK news and events; domestic chores and maintenance; managing own pension fund; keeping in touch with small group of friends. Furniture making and finer woodworking. At least one overseas trip a year mainly to see family and old friends in the UK and Europe. Regular interaction with grandchildren

Look forward to retirement: I was ambivalent about stopping full time work as I felt I had more to offer. On the other hand I was happy not to continue with a routine which i found was very repetitive.

Expectations: That I would undertake a mixture of part time consulting work and pursue other interests.

Hobbies: Mainly wood working.

Continue to work: Part time work..see above

Encounter ageism: Was expected to retire at 60; see above. The company rationale was that this would allow younger executives to move up in the organisation. With hindsight it is a fairly negative policy given the collective experience of people who had been in the organisation for many years. Today I suspect it would be regarded as a form of ageism.

Did you relocate: No

Live near family: Yes

Advice for others: Firstly consider at what age you wish to retire. With longer life expectancy there is an argument to work well into one’s late 60s or early 70s, as much as anything to maintain full cerebral activity. Also plan ahead for retirement and ensure you maintain mental and physical activity.. Maybe consider a fresh calling or further education. Also ensure that one’s partner is comfortable with retirement and agree on how it will work for both of you.

Share your story with us: https://www.thesilverlife.com/to-retire-or-not-to-retire/

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