Getting old could be a very stressful point in anyone's life, and retirement could be even more stressful. This could be true only to some, but may not be true for others. Indeed, retirement need not be stressful. In his book "Aging Well" (2002), Dr. George E. Vaillant discussed "surprising guideposts to a happier life" based on the landmark Harvard Study of Adult Development. In one of the chapters (Retirement, Play, and Creativity), Dr. Vaillant discussed four circumstances that could potentially lead to a very stressful retirement:

1. When it is involuntary and unplanned.
2. If the individual has no other means of support besides salary.
3. When one's home life is unhappy and work had provided a means of escape.
4. When retirement is precipitated by preexisting bad health.

All these reasons have to be carefully considered, but the third and fourth have relatively lesser connection, as compared to the first two, to the general thread of this site. The first two circumstances are closely linked to entrepreneurs, those who are retiring and those who deal with retirees. It matters less if the retirement is involuntary and unplanned if you have other means, besides salary, to support yourself, although it's equally true that the involuntariness of the retirement refers more to the psychological-emotional aspect rather than the financial side. Still, if you have surplus money to last until you die, would you choose to retire?

Anyway, there's an entity known as the Philippine Retirement Authority (PRA). This government agency identified the followng investment areas (using the required deposit of covered retirees) -- purchase of a condominium unit, long-term lease of a parcel of land or house and lot, and purchase of proprietary shares in golf or country clubs. Unfortunately, the mandate of PRA is to attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines. Just to be clear, the assistance is for foreigners and former Filipinos -- not Pinoy retirees.

So, for Pinoys who already retired or are about to retire, what to do? We shall be exploring this topic in subsequent posts. In the meantime, perhaps Pinoy entrepreneurs who are already retired or are about to retire could give us some insights on this matter.