Retirement

Have you ever had someone ask how you are doing and you are at a loss of how to answer or at a loss to how you are actually feeling. That blah, indifference to anything and everything type of feeling – you could be experiencing languishing. This not-so-new concept has become quite commonplace in the last few years and is a concept we are hearing more about. Here Thrive explains what languishing is and what we can do about it. What is languishing? There is a lot more to mental health than just being good or bad, it is a spectrum. In an attempt to create a deeper understanding of mental health, it can be categorised into four levels: Flourishing – peak mental health Good to moderate mental health Languishing – poor mental health Depression – experiencing a mental health condition Languishing is wrapped in the middle of the mental health continuum; it is the absence of mental wellness, a state of not being at your best but not at your worst either. First introduced by psychologist Corey Keyes in 2002, languishing, as Keyes describes it, is an emptiness and stagnation, constituting a life of quiet despair. It is a feeling of numbness, where you experience few strong emotions. It is a lack of engagement and apathy, a place where you simply remain in a state of neutrality. What Languishing looks like? Languishing is that ambivalent feeling as if life is something that happens, rather than something that you actively cultivate, participate in, and enjoy. Here are some of the feelings or experiences that can come with languishing: Feeling disconnected or dissociated Feeling deeply lonely or isolated A lack of motivation or procrastinating Struggling to focus Feeling like you’re not functioning to full capacity Inability to describe your feelings or experience any strong emotions A sense of emptiness or dullness Feeling as if you are just going through the motions, feel trapped or stuck Feel like life is missing something, there is nothing to look forward to Not thinking or particularly caring about the future Rarely have strong opinions In AXA’s 2023 global Mind Health study, it found a higher percentage of people (28%) were languishing compared to those who were flourishing (24%). The study also revealed woman experience languishing more than men at 30% compared to 25%. It also found Ireland had an above-average percentage of languishing at 29% compared to our global counterparts. Other research has shown a continued state of languishing can increase the risk of experiencing mental health conditions such as anxiety disorders and major depression down the line. What to do about it? In his work on flourishing, Dr. Martin Seligman concluded the best method to move from a state of languishing to flourishing is the PERMA model which stands for: Positive emotions This may sound like an obvious but difficult area to integrate into your daily life but by consciously experiencing positive emotions we can learn to improve our wellbeing. Positive emotions are a prime indicator of flourishing and have numerous benefits - improving our thinking, acting, and cognitive ability. Find ways to deliberately increase positive emotions in your life and if repeatedly exercised, these positive emotions will become noticed and automatic over time. Start small by practicing gratitude, writing down things you are grateful for, things you love, appreciate, and feel good about. Engagement Engagement refers to being fully immersed in a particular activity that consumes our attention in a positive way. This is often referred to as flow, it is living in and focusing entirely on the present moment and the task at hand. When we are in a state of flow we perform to our peak and experience less anxiety. Take a look at our recent article on how to find your flow state. Relationships Having positive relationships with understanding and respect yields a deep sense of connection and support. Investing time and energy into fostering close relationships enhances our resilience and wellbeing. Research has demonstrated that sharing good news, celebrating success, and responding enthusiastically to others increases intimacy, wellbeing and overall satisfaction. Meaning Meaning or purpose in life looks different for everyone but it is based on the things that bring your life value. Seligman discussed meaning as belonging or serving something greater than ourselves and helps us focus on what is important in life. If you are looking for meaning, try and engage in small activities at first that leave you feeling fulfilled afterwards – this could be anything from volunteering to a small random act of kindness. Accomplishments A sense of accomplishment is the result of working toward and reaching a goal you have set for yourself. Accomplishments can boost our morale by helping us feel productive, that we are moving forward, and can give us a huge sense of pride. Set small, challenging but realistic goals and check them off once completed – this can fuel our motivation, sense of achievement, and ultimately our happiness. If you feel as if you are in floundering in a state of languishing, the Thrive wellbeing team is professionally trained to offer wellbeing advice and support to help you on your journey to a thriving and flourishing life. You can contact the wellbeing team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294.

William is a Chartered Accountant who had his own business, but due to circumstances beyond his control he lost his business, his home and suffered greatly as a result. Thanks to your donations, CA Support has helped William throughout these difficult times, and he has given his permission for us to share his story with you. As a Chartered Accountant, I worked with a professional firm until 1985 when the entire department in which I worked was made redundant. With a partner I started my own  business importing clothing and accessories from Hong Kong. It was very successful; the items were sold in exclusive outlets throughout the country. All went well until a supermarket chain sold identical items at a much lower price. My business partner left me with extensive business debts, so I had no choice but to sell my home. I was not aware CA Support until I rang to explain why I could not pay my annual subscription fee. It was a huge relief to discover that there was support available to me. I worked hard to get my qualification and wanted to keep my membership up to date. On the initial call I explained my circumstances and it was a relief to have a friendly non-judgmental voice on the phone. There was a lot of unemployment at the time due to a severe economic downturn. To help those affected, the Benevolent Society (CA Support) hired the ballroom in the Intercontinental Hotel in Ballsbridge and asked me to address the large audience of accountants. The Institute then set up a small department to assist and offer advice to those who were unemployed. I was very glad I was able to help. I don’t know how I would have managed in the years that followed without their support. I am a very independent person, so the lack of control over my life was extremely difficult to accept. I was unable to find employment, my age went against me and I was also told that I was over-qualified. I turned to writing and had some short stories and magazines published. But the money didn’t cover a fraction of my outgoings. Unfortunately, in the winter of 2013 I found myself homeless. I approached the DLR Housing Department and was initially promised accommodation but, the promise was not fulfilled. It was only with the help of a compassionate community officer and my rector that my situation was resolved. Thankfully, I now have a home again.  I don’t know if I will ever forget that fearful experience, of not knowing what was going to happen to me. I still struggle to find words to express how awful it was. With assistance from CA Support I was able to go in a new direction. I continued with my writing, gave a series of public talks on the effect of suicide on those left behind and I gave a talk on the emotional impact of homelessness on mental health at the request of The Irish Council of Churches. For this, I could draw on my own personal experience of having been homeless. I have no doubt that there are others who have stories to tell on how CA Support has helped their lives and continue to do so. Speaking for myself, I hope that those who can will continue to support this organisation. William Blackall Hear from others, like William, who have share their stories and received assistance from CA Support during times of crisis.  Video: Jane and Michael share their stories Video: Karen Rafferty speaks about the assistance and support she received when her daughter Niamh was diagnosed with a brain tumour.  Beneficiary Stories CA Support are supporting our members and their families always. If you would like to help or if you need help please contact us by email or on 01 637 7342 or 086 024 3294.

Strong social connections not only impact our mental health but our physical health too. In today’s world, we lead increasingly busy lives and often our relationships can sadly fall by the wayside. Feeling socially connected is more important than ever, especially after a long period where our social interactions are restricted, and our close circle reduced. In celebration of International Friendship Day (July 30), Thrive discuss the importance of maintaining and prioritising our relationships for our overall health. We're designed to be social We all know that comforting upbeat feeling of human connection, when you come away from a catch up with friends feeling more positive, happier, and even lighter. As a species, human beings are inherently social creatures.  We are biologically wired to seek out connection from a time where humans hunted in tribes and being part of a group was necessary for survival. Humans need closeness, connection, and a sense of unity to thrive. Social connection is one of our core psychological needs which means it plays an essential role in how safe and satisfied we feel in our lives. Social groups provide us with an important part of our identity, forming who we are and teach us a set of skills and norms that help us to function throughout life. In today’s world though we lead increasingly busy lives trying to juggle and balance work, family, and other commitments. Often our friendships can fall to the wayside. However, strong connection and belonging to something bigger than ourselves are important for our overall health and wellbeing. The benefits of connectedness should not be overlooked, and therefore as a society we should be placing greater emphasis on investing in our friendships. The more connected we feel to other people, the more enriched our life becomes. Friendship and being part of a social group offer a variety of mental health benefits. It increases our feeling of belonging, boosts our sense of purpose, and improves our self-worth and confidence. Connectiveness helps us regulate our emotions, leads to higher levels of empathy and compassion, and can even reduce our stress levels. Studies show that people who feel connected to others report lower rates of anxiety and depression. Not only does good social connection impact our psychological wellbeing, its impacts our physical health as well. Countless studies have shown a lack of human connection and feelings of loneliness are more harmful to our health than obesity, smoking and high blood pressure. By neglecting our need to connect, we put our health at risk. It can even lengthen our lives. Extensive research that looked at the lifestyles of inhabitants within Blue Zone areas, a term given to geographically regions that are home to some of the world’s oldest people, found healthy social networks and high levels of community engagement were commonalities among the differing zones. Our relationships and social groups can alter the course of our life, shape the person we are and can change our perception of ourselves and the world as well as offer an important support system.  So as you can see, social connectedness creates a positive cycle of good social, emotional and physical wellbeing. To forge happy and healthy relationships, it is very important we continually attend to and nurture our connection with the people we consider important in our lives. After an incredibly long period where our social interactions were restricted and ultimately reduced, you may find your sense of connection has diminished. Here are some ways you can improve your social health and reignite your connection with others; Reach out to a friend you may have lost touch with, remember it’s never too late to spark up an old friendship! Take time to ring or meet up with a friend you have not seen in a while. Join a new club or try out a group activity: focus in on your interests and you’ll be sure to find a club or group full of like-minded people. Volunteer: this can strengthen your sense of purpose, provides an opportunity to meet new people and give back to your community. Invite a co-worker out for lunch: now we have more freedom to socialise why not reconnect with your favourite work colleague or arrange a work group activity. Spend quality time with family: this could be planning a family BBQ, a movie night on the weekend or a family day out. Be Present: Step away from your devices when you are in company and have an uninterrupted chat. Social isolation is a challenging aspect of life to cope with and is detrimental to your health, please know the Thrive team  is here to lend a friendly ear, if and when you need it.

Retirement is one of the biggest transitional periods than anyone can go through with almost every aspect of our life changing. Suddenly you are met with a massive shift in your pace of lifestyle. While many of us may embrace the change, retirement can be a time of great upheaval physically and emotionally.  With this in mind, it is important to plan and prepare for the change ahead as you embark on this transitional life stage.  A long and fulfilling retirement isn’t just about a pension plan, it also about planning for your lifestyle shift. Without a plan in place, the initial novelty of retirement can wear off pretty quickly, leaving you to struggle to adapt to your new way of life.  Routine & schedule Adjusting to retired life is not something that happens overnight, and it may take a while to adapt. So do try to remember that like any big change in life, it'll take time for you to become accustomed to what comes with retirement. When working we have an imposed schedule and structure but once the 9 to 5 comes to an end, it can be incredibly difficult to fill all the extra hours you now have at your disposal. Across all stages in life, structure and routine are key habits that lead to good wellbeing. It may be tempting to fill your days with laze and leisure which is novel and exciting at first, but feelings of boredom or restlessness can creep in especially if you have been used to a busy schedule. You may want to define some specific routines to maintain order, predictability, and structure. In the run up to your retirement, take some time to consider what your day, week or month will look like. Stay active Staying active through exercise will help keep you healthy both physically and mentally and prolong your life. But it is also important to keep your mind active too. Ongoing learning can help keep you mentally sharp by getting you in the habit of staying mentally active. Having less structured days allows you to take up a new hobby or learn skills and feeds into the need for routine and schedule. Retirement is a great time to discover old and new passions that you felt you didn’t have the time for before.  Taking up a course or classes in your local college, learning to play an instrument, or another meaningful activity that you can enjoy and engage with can keep you mentally fit. The mantra ‘use it or lose it’ most definitely applies here! Connection As we transition from the workforce, our social circle can diminish due to our daily interactions reducing and unfortunately loneliness becomes more common as we get older. Loneliness has a detrimental impact on our health and wellbeing and may significantly increase the chances of poor health. Research found that older adults with a good social life tend to live longer than those who are more isolated and happier retirees were found to have more social interactions. So, whether you are married or single, an introvert or an extrovert, maintaining strong social connections is critical. It is important to keep in contact with friends and connect with your work circle as much as possible. Certain activities can also present opportunities for you to meet new friends or other retirees with similar interests. Taking a new class, joining a book club, participating in your local community centre, or joining an exercise group are just some of the many ways you can stay connected. There is also a wealth of benefits from spending time with grandchildren, it helps you to keep active, improves cognitive skills and can lower the risk of depression. Purpose For many, our sense of purpose can be wrap in what we do for living and measure our success only through our professional lives. Once we leave the workplace, there may be a need to find meaning to fill that void and reinvent your purpose in life. Outside of your profession, try and identify what gives your life meaning and purpose and makes you happy. Retirees have a unique insight and wisdom gained from a lifetime's worth of skills, expertise and competencies that could be of benefit elsewhere and this could mean using talents in service to others. Mentoring and volunteering are fulfilling paths for retirees. Retirees can gain meaningfulness and social and emotional benefits from mentoring and volunteering. But whatever you do in retirement it is important to see this time as an opportunity to live out the second half of your life purposefully.

Contrary to the misconceptions of awkward social encounters, networking is a fundamental and invaluable skill that everyone should cultivate, says Jean Evans Businesses, organisations and most people deem networking to be a soft skill, but it’s not. It’s a power skill. People think that networking is an awkward social moment or an icky sales conversation. They mistakenly think that networking is about schmoozing and being sleazy. That it’s about going to the odd event, handing out business cards and expecting something to happen. However, networking is one of the most fundamental, valuable and necessary skills you’ll ever develop. It makes you powerful. The foundation of success Networking is like the foundations you put down for a house. You cannot build a house without solid foundations. Similarly, you cannot build a successful business or stellar career without networking because no one is successful by themselves or achieves success without the support and help of others. Networking to win Networking enables you to become more self-aware and develop emotional intelligence, which will assist you in using your voice while helping you understand your personal brand and what you bring to the table in your organisation. You’ll grow a community and tribe of people who’ll support you and your career and who will be your sponsors and advocates while allowing you to become a problem solver and trouble shooter within your professional career. A personal journey How we connect with others is deeply intimate, so learning to network is highly personal and nuanced. There isn’t a right way or a wrong way for you to do it, but you have to learn how you want to do it. We all have different backgrounds that influence how we connect with others, whether it’s the environment in which we grew up, our education, our friends and family or our work. Confidence You might have noticed that I haven’t mentioned anything about more business or promotions. They are also wins when it comes to networking, but none of the tactical and technical stuff comes before you develop your confidence and self-awareness. Confidence is the name of the game. Understanding yourself and what you stand for allows you to make intelligent and conscious decisions about what aligns with your values, your priorities, and this allows you to make good choices and set appropriate boundaries. Jean Evans is a Networking Architect and founder at NetworkMe

When we think of wellbeing, we usually think physically and mentally but there is another important aspect to add to the mix, financial wellbeing. Financial wellbeing is a term used to describe our ability to confidently manage our money, how prepared we are for the unexpected, and how we can save and plan for the future. It is an aspect of wellbeing that is often overlooked, but financial wellness can dramatically impact our quality of life. Financial difficulties can impact anyone including accountants. Here we look at financial wellbeing, its impacts on our mental health, and how we can improve our financial wellbeing. Financial wellbeing and Mental Health With the current economic factors at play, financial worries are a main concern for the vast majority of the population and financial worries can have a major impact on our mental health. While it is true money can’t buy happiness, multiple studies around the world show that finances are one of the most common causes of stress and anxiety, which can impact our health, work, relationships, and many other aspects of our life. According to research conducted by PWC in 2023, almost half of Irish consumers are concerned about their personal financial situation. A national survey carried out by Aware found that financial worries were the number one cause of concern with 57% stating it was impacting their mental health. Laya healthcare’s workplace wellbeing index found that of the one in four people who reported poor mental health, two-thirds cited financial concerns as the cause, more than any other problem. These few figures highlight just how prevalent financial concerns are and how much of a toll they can take on our mental health. Feeling anxious, experiencing low mood, or losing sleep if you are struggling to control your finances is a totally normal response but in the long term can have a devastating impact on our lives, even fuelling and escalating our financial trouble.    How to invest in your financial wellbeing If you want to ease money worries or simply want to feel more in control of your finances, there are thankfully many simple and easy ways to do just that. Spending sprees The first step is to look at your current spending habits and identify just where your money is going. By reviewing your bank and credit card statements, you can tally your outgoings and expenses. Categorise the type of spend into different groups, this can help you identify areas where you may be overspending and where you can make changes. We can all overspend sometimes or have weeks that are more expensive, but when it becomes a habit, it can be hard to break.  By tracking your expenses, you can get a better overall picture of your spending habits and triggers. Money aspirations Write down your financial goals and consider what you want to achieve in the short and long term, this could be clearing off a credit card, buying a house or building a rainy-day fund. Having financial goals give you a clear objective to work towards and can help keep you motivated to save and stay on track. Budget   Creating a monthly budget is a surefire way of getting control of your finances. Figure out the amount that goes on your essentials expenses and then budget for the week and month ahead. For help with this, there is a wealth of free online budgeting tools and templates at your disposal. In debt to you Once your budget is going to plan, if you have accrued any debt now is the time to begin clearing it. Sort your debt from the highest interest rate to the lowest interest rate and use any extra cash to begin clearing off these debts, starting with the higher interest rate and continue moving your way down the rates.   Saving grace It can feel like any money you earn is eaten up by expenses and there is simply no money left for saving. Even when money is tight, it is important to begin setting money aside for the future. If you don’t already, set up a savings account and transfer any remaining money over at the end of the month. Even if it is just small change. Or another approach, termed ‘paying yourself first’ is set up an automatic transfer of money into your savings account as soon as you get paid.   Seek advice If financial troubles persist despite your best efforts, you may consider seeking external financial advice. A financial advisor can view all aspects of your financial wellbeing with you and identify areas and aspects where you can make changes. Supports available to you A common preconceive notion is that financial professionals should be in good financial health due to their professional background. However, like anyone in society, accountants from all walks of life can struggle with poor financial wellbeing for a multitude of reasons. From the work of CA Support, we see the causes and impact financial difficulties have on chartered accountants. Perhaps a period of illness, unemployment or upheaval has created a financial burden and we know financial problems can often deteriorate quickly. If you are struggling with financial difficulties, CA Support provides emergency assistance to Institute members, students and families experiencing turmoil. Or if you are in a healthier position, you may consider donating to CA Support to help support members and families in our community who are less fortunate. Improving your financial wellbeing can take time and effort but by building small and healthy habits, you can alleviate money-related stress and anxiety. However, if you are struggling with any emotional toll, the Thrive wellbeing team is also here to help. Financial wellness 101 webinar Join Thrive and the Young Professionals on Tuesday September 12 at 12.30 for our joint webinar, Financial Wellness 101. Chartered Accountant and Finance Coach, Carol Glynn, will look at improving our financial wellness and introduce us to her Financial Wellness Checklist, providing an easy-to-follow approach to managing our finances.