Guest blog by Inaya Karmali
When you think about retirement, what are you looking forward to? Maybe it’s not having to wake up to an alarm clock or finally having the time to explore your passions and spend more time with loved ones.
When it comes to retirement, what’s causing you worry? The number one response we get from clients is running out of money. However, the transition often brings unexpected challenges, such as a sense of isolation or aimlessness. Experts agree that having purpose in retirement is essential for your emotional and even physical well-being. And regardless of where you are on your retirement journey, it’s never too late to find your purpose.
Why Purpose Matters
A lack of purpose in retirement can lead to feelings of isolation and depression, which are
closely linked to a decline in your physical health. Depression in retirees is often rooted in the loss of daily structure and sense of accomplishment, which can cause withdrawal from social
activities and a lack of motivation. This emotional state, if unaddressed, can create a cycle of
inactivity and further health issues.
In contrast, research in General Psychiatry highlights that retirees with a strong sense of meaning are more active, socially engaged, and tend to live longer. Having a purpose actually provides a buffer against stress and promotes resilience. Additionally, feeling purposeful is associated with healthier habits, such as regular exercise and better sleep patterns, which collectively enhance overall well-being.
Finding Your Purpose
Adjusting to retirement takes time, but you can begin by reflecting on what brought you joy
in your career or hobbies. For example, if you love problem-solving, consider learning a new
skill or tackling puzzles. Those who enjoy teamwork may thrive in volunteer roles or community groups, while lifelong learners can enrich their lives through classes and workshops.
Purpose often integrates several aspects of life. Many retirees find fulfillment in caregiving or
mentoring, while others focus on nurturing relationships or maintaining physical health.
Experimenting with different activities allows you to discover what resonates most with you.
The Purpose of Gratitude Journaling
A simple yet transformative practice that can be helpful in finding your purpose is gratitude journaling. Writing down daily moments of gratitude can help reshape your mindset and make it easier to notice the meaningful aspects of retirement. For instance, jotting down the small wins—a sunny morning walk or a heartfelt conversation—can help highlight the richness of life’s everyday experiences.
Gratitude journaling fosters a sense of connection to the present moment, which is crucial in
combating feelings of aimlessness. According to the Journal of Clinical Psychology,
gratitude journaling patients report reduced stress and improved emotional well-being. Retirees often uncover purpose in unexpected places by intentionally recognizing and appreciating the positives in life.
Moving Forward
Retirement is an opportunity to discover new avenues for growth and fulfillment. By exploring volunteering, learning, or adopting practices like gratitude journaling, you can create a meaningful retirement experience. Purpose isn’t just about grand achievements; it’s about finding value in the everyday moments that make life uniquely yours.
To learn more about finding your purpose in retirement, meet Dave, Faisal, and the rest of our team at our upcoming seminar. Register at https://morethanmoneyradio.com/seminar-registration/
David Popowich and Faisal Karmali are Investment Advisors with CIBC Wood Gundy in Calgary. The views of David Popowich, Faisal Karmali, and guest author do not necessarily reflect those of CIBC World Markets Inc. This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license. “Wood Gundy” is a registered trademark of CIBC World Markets Inc.
