NCJ Number
130432
Journal
Law Enforcement Technology Volume: 18 Issue: 3 Dated: (March 1991) Pages: 14,16,18
Date Published
1991
Length
3 pages
Annotation
Police personnel must plan for retirement not only financially but also in terms of satisfying lifestyle changes.
Abstract
Many retirees have problems at retirement because they have not planned early enough. Financial planning involves comparing projected retirement living expenses with anticipated retirement income. Ways to increase retirement income must be found many years prior to retirement if retirement expenses are projected to outstrip income. Ways of earning money while in retirement must also be considered, in the event that living costs increase or unforeseen emergencies deplete retirement incomes. This involves maintaining professional ties and skills after retirement that may hold the potential for earning part-time income. Changes in lifestyle are perhaps the greatest shock at retirement. Unless persons have developed satisfying and productive ways of using their leisure time prior to retirement, it is unlikely that there will be a fulfilling transition to retirement. Persons should start early in developing interests outside of their jobs, whether it be through hobbies or involvement in community service organizations. An important aspect of early preparation for retirement is the inclusion of training in retirement planning in police recruit and inservice training.