Social and Family Dynamics in Retirement
Expert-defined terms from the Advanced Certification in Retirement Coaching and Mentoring course at London School of Business and Administration. Free to read, free to share, paired with a globally recognised certification pathway.
Social and Family Dynamics in Retirement Glossary #
Social and Family Dynamics in Retirement Glossary
Aging in Place #
Refers to the ability of individuals to live in their own homes or communities as they age, rather than moving to a nursing home or assisted living facility. Aging in place allows retirees to maintain their independence and familiar surroundings.
Bridge Job #
A part-time or temporary job taken by retirees to transition from full-time work to full retirement. Bridge jobs can help retirees ease into retirement gradually while maintaining a source of income.
Caregiving #
The act of providing physical, emotional, or financial support to a family member or loved one who is unable to care for themselves. Caregiving can become a significant aspect of retirement for those who have elderly parents or relatives in need of assistance.
Empty Nest Syndrome #
The feelings of sadness, loss, or loneliness that parents may experience when their children leave home to live independently. Empty nest syndrome can impact retirees who find themselves with an "empty nest" once their children have grown up and moved out.
Encore Career #
A second career pursued by retirees after leaving their primary career. Encore careers are often driven by a desire for personal fulfillment, social impact, or pursuing a passion that was set aside during the primary career.
Family Dynamics #
The patterns of interaction, communication, and relationships within a family unit. Understanding family dynamics is crucial in retirement planning, as it can impact decisions related to caregiving, financial support, and living arrangements.
Grandparenting #
The role of being a grandparent to one's grandchildren. Grandparenting can be a source of joy and fulfillment for retirees, providing opportunities to spend time with and bond with the younger generation.
Intergenerational Relationships #
Relationships between individuals of different generations, such as grandparents and grandchildren. Intergenerational relationships can enrich retirees' lives by providing new perspectives, experiences, and connections.
Retirement Lifestyle #
The way in which retirees choose to live their lives after leaving the workforce. Retirement lifestyle can encompass various aspects such as hobbies, travel, social activities, and community involvement.
Retirement Planning #
The process of setting financial goals and making strategic decisions to ensure a secure and comfortable retirement. Retirement planning involves assessing one's financial situation, determining retirement income needs, and creating a plan to achieve retirement goals.
Retirement Transition #
The period of adjustment that individuals go through when moving from full-time work to retirement. Retirement transition can be a challenging time as retirees navigate changes in routine, identity, and social connections.
Sandwich Generation #
Individuals who are simultaneously caring for their aging parents while also supporting their own children. Members of the sandwich generation may face financial, emotional, and time pressures as they balance caregiving responsibilities.
Second Adulthood #
A stage of life following retirement characterized by personal growth, new experiences, and opportunities for self-discovery. Second adulthood offers retirees a chance to explore new interests, pursue passions, and redefine their sense of purpose.
Silver Divorce #
The phenomenon of divorce among older adults, typically occurring after many years of marriage. Silver divorce can have significant implications for retirees in terms of financial security, living arrangements, and social relationships.
Social Security #
A federal program in the United States that provides income support to retirees, disabled individuals, and survivors. Social Security benefits are a key source of retirement income for many retirees and play a crucial role in retirement planning.
Volunteerism #
The practice of offering one's time, skills, or resources to support a cause or organization without expecting monetary compensation. Volunteerism is a common activity among retirees, allowing them to give back to their communities and stay socially engaged.