Retirement usually begins with realistic expectations about your retirement, and by understanding the link between expectations, satisfaction and well-being. Also, to understand the factors that contribute to adjusting well to retirement, including the importance of planning a mentally healthy retirement (not necessarily financial).

The Australian Institute of Family Studies recommends the earlier you can begin planning, the better. You can consider the impact retirement may have on your life and create strategies for factors within your control. For example, establishing social and emotional support networks. Therefore, being proactive early will set you up for the retirement you hope for, and create contingencies for when the unexpected occurs.

By being active, practicing mindfulness, continuing to learn and giving back, life satisfaction for most people increases in the years following retirement. This shows that, with some preparation, it can be one of the best times of your life. This satisfaction is often linked with establishing and working towards goals – an essential ingredient to a successful retirement.

However, as a society, views on retirement are polarised. Some people see it as an opportunity to escape our daily work obligations to pursue our own passions. Others view the transition as a loss of status, social connectedness and financial security.

Researchers Olesen and Butterworth stated in an article on The Conversation –after studying large samples of Australians on the effects of retirement and how it is associated with mental health and well-being –  that retirement has a negative effect on mental health, consistent with decades of evidence about the impacts of job loss.

Further, the transition to retirement was a major milestone and lifestyle change, given the central roles work and career play in most people’s lives. Some studies comparing the mental health of retirees with that of working older adults showed that retirees, particularly men, tend to have greater levels of depression and anxiety than their working peers.

A study by the Japan Gerontological Evaluation Study from 2010-13, using 62,438 adults aged 65 and older, concluded retirement may increase depressive symptoms among Japanese older adults, particularly men from lower occupational class backgrounds. Therefore, encouraging recreational social participation may mitigate the adverse effects of retirement on mental health of older Japanese men.

According to national mental health organisation SuperFriend, there are several ways to improve mental health.

Creating connections with others is a fundamental human need.

This includes relationships with family, friends, neighbours and acquaintances in all areas of life.

Physical activity is vital for positive well-being, whether it’s walking, running, cycling, playing sports, gardening, dancing or another activity that gets you moving. More importantly, finding things you enjoy and doing those activities regularly is the best thing for your well-being.

Practising mindfulness, being in the moment, noticing things around you and being aware of your emotions.

Try to keep the mind active. Learn something new every day, which is important for our well-being.

Try a new hobby, rediscover something you used to like to do or learning new things that will boost your confidence.

Acting positively towards others thereby bonding links in the community that will reward you with a stronger sense of well-being. You can do this formally, through a volunteering opportunity.

Glenn Baird, head of life insurance specialist TAL, says “the main thing to remember is that different things work for different people, so find the balance that’s right for you and helps you make the most of your post-retirement years.”

Dr Anthony Perrone is college counsellor at Trinity Anglican College. The views expressed are Dr Perrone's and not necessarily those of Trinity Anglican College.