Shocking Lack of Purpose & Meaning!

Recently I’ve written about the importance of purpose in retirement. Unfortunately, 21% to 33% of retirees report struggling with a lack of purpose, motivation, or meaning after leaving the workforce.

In Canada, approximately 33% of retirees report struggling to find purpose. About 27% indicate they often feel unmotivated and overwhelmed, while 24% specifically attribute their mental health struggles to a lack of purpose or financial concerns.

Despite these struggles, most retirees (92-93%) believe that feeling useful and having a purpose is critical to a successful retirement.

So why the large disconnect between reality and what should be?

Stepping back in examining purpose and meaning in pre-retirement life, 30% of working Canadians report they “don’t really have any goals in life”, a figure that has nearly doubled since 2004. The feeling of aimlessness is most pronounced in younger groups, with 40% of Canadians under 35 reporting no clear goals.

Health Impacts
Research consistently shows that a sense of purpose acts as a “compass” that improves long-term outcomes:

  • Longevity: Individuals with a strong sense of purpose have a 15% lower risk of death over a 14-year period.
  • Mental health: A lack of purpose is a primary driver for anxiety and depression, with 50% of young adults reporting that “not knowing what to do with my life” negatively influences their mental health.

Obviously, if we are to have a successful retirement, purpose and meaning must be part of our vision and planning.

Sources of Renewed Purpose for Pre-Retirees & Post-Retirees

While many struggle, others find new meaning through specific outlets:

  • Family: Spending time with loved ones is cited as the greatest source of purpose.
  • Volunteering: Retirees who volunteer are 64% more likely to report high levels of happiness.
  • Mentoring: Using professional skills in new ways to serve others.
  • Lifelong Learning: Engaging in new activities, such as classes, crafts, or exploring curiosities.
  • Social Connection: Building relationships through clubs or community events to combat loneliness.
  • Healthy Routines: Incorporating regular exercise and mindfulness to maintain physical and mental health.
  • “Unretiring”: Approximately 20% of retirees eventually return to work, with nearly 45% doing so for social or emotional reasons rather than financial need.

Starting Small: 
Exploring, experimenting with different interests, and allowing new routines to form naturally, purpose can be found in daily, enjoyable activities.

Embrace the Transition:
The first few months of retirement can be a time for experimentation rather than rigid structure. It is a time for rediscovering your passions and defining your own, new version of success.

Visit my website and/or drop me an e-mail. Subscribe to my newsletter, Build a Great Retirement. Visit www.whencaniretire.ca.

Rick Atkinson, Mister Retirement. B. Com, MBA, CHRP, CMC, FDFS