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Retired Banker Helps Others Avoid "Retirement Shock"

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Manage episode 404597962 series 2446035
Content provided by Andy Levine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Andy Levine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Mike Drak worked as a banker in Toronto for his entire professional career. When he was laid off at the age of 59, he received a sizeable severance from his employer. Telling his spouse "Contessa, we hit the lottery," he was initially ecstatic to be retired.

But he quickly faced "Retirement Shock," a term that he coined to describe how tremendously unhappy he was in the year that followed. He missed helping people and the structure/routine of working at the bank. And he felt a loss of purpose. "Before my purpose was to go to work, get paid and then use the money to support my family. And that was taken away from me."

Mike's research suggests up to one-third of all retirees suffer from "retirement shock." He decided to educate others on the non-financial challenges of retirement by writing three books: Victory Lap Retirement, Retirement Heaven or Hell and Longevity Lifestyle by Design. The final book can also be downloaded for free from Mike's website at www.longevitylifestylebydesign.com.

Two years ago, Mike took the unusual step of entering his first Ironman Triathlon (2.4 mile swim, 112 mile bike ride and 26.2 mile run) at the age of 68. He plans on returning to Cozumel, Mexico for his 2nd Ironman in the year ahead.

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159 episodes

Artwork
iconShare
 
Manage episode 404597962 series 2446035
Content provided by Andy Levine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Andy Levine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Mike Drak worked as a banker in Toronto for his entire professional career. When he was laid off at the age of 59, he received a sizeable severance from his employer. Telling his spouse "Contessa, we hit the lottery," he was initially ecstatic to be retired.

But he quickly faced "Retirement Shock," a term that he coined to describe how tremendously unhappy he was in the year that followed. He missed helping people and the structure/routine of working at the bank. And he felt a loss of purpose. "Before my purpose was to go to work, get paid and then use the money to support my family. And that was taken away from me."

Mike's research suggests up to one-third of all retirees suffer from "retirement shock." He decided to educate others on the non-financial challenges of retirement by writing three books: Victory Lap Retirement, Retirement Heaven or Hell and Longevity Lifestyle by Design. The final book can also be downloaded for free from Mike's website at www.longevitylifestylebydesign.com.

Two years ago, Mike took the unusual step of entering his first Ironman Triathlon (2.4 mile swim, 112 mile bike ride and 26.2 mile run) at the age of 68. He plans on returning to Cozumel, Mexico for his 2nd Ironman in the year ahead.

  continue reading

159 episodes

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