For retirees, the loss of their professional identity can take a major mental toll. When employers help them get ahead of the transition, it’s less stressful and good for business.
Over the next five years, nearly 15 million workers are expected to retire, according to an analysis by the Retirement Income Institute (RII). While employers often help people prepare for their financial future with a 401(k) or pension plan, there is a gap in understanding when it comes to retirement’s emotional toll, says Elizabeth Parsons, a retirement transition expert and author of “Encore: A High Achiever’s Guide to Thriving in Retirement.”
