I’m 64, single, and have a $2.25 million nest egg — but I have no clue what my future looks like. How do I find value in my golden years?

Feeling "comfortable" isn't only having enough money for food, shelter and healthcare. It's also about quality of life, social connection and a sense of purpose.

That's why even those who manage to save millions for retirement may feel anything but comfortable. Especially those whose identity is tied up with their jobs.

Imagine someone like Frank, 64, a highly respected accountant who provides tax and investment advice to high-net-worth individuals.

A lifelong bachelor, he's devoted to his career and, as he nears retirement, he admits to feeling anxious. And it's not because he hasn't prepared financially; he has amassed a $2.25 million nest egg.

But he's worried about leaving his career, his colleagues and his clients — where he sees his value. In other words: His financial assets are fine, but he knows there's a deficit on the personal side of his retirement balance sheet.

This is a common problem, with serious implications for retirees' mental and physical health. Here's a look at how serious the problem is — and how to deal with it.

When stepping down from a job feels more like a free fall

According to a 2025 Financial Planning Association survey, more than half of financial planners felt their clients were financially ready to retire, but only 11% thought their clients were emotionally ready. (2)

The majority (60%) believed their clients were only "moderately" prepared emotionally to hang up their hats.

Many businesspeople like Frank put off retirement because it means moving from a world of knowns — a place tied to identity, social connection and influence — into a world of unknowns.

Research describes this as retirement syndrome. (3) Success can make it even harder to step down if you're used to maintaining a certain lifestyle and social status.

People may fear retiring because it brings up worries about aging and death, or being dependent on loved ones. All these things can trigger anxiety, depression and isolation.

The Supportive Care blog points out red flags that a retiree is struggling with post-work identity: (4)

• They talk about their former job a lot.
• They envy former colleagues who talk about work.
• They feel uncomfortable when asked what they do.
• They avoid social situations where people might talk about their careers.

Social isolation is a real concern in retirement. A Pew Research Center study in 2019 found that the average American aged 60 and older spent more than half their waking hours alone. (5) The Centers for Disease Control notes that isolation can not only impact mental health, but can increase the risk of heart disease and stroke, diabetes, dementia and earlier death. (6)

For people like Frank who don't have a life partner, the danger of social isolation is even greater.

The good news is that you can find social connection and purpose and thrive in retirement. And if you've been successful in work, you likely have many of the skills you already need to do so.

How to retire with a rich quality of life

For many retiring workers, just taking up a hobby or going to social events isn't necessarily enough.

Someone like Frank may be happier applying their energy and skills to volunteering or working part-time for a good cause. For example, he could volunteer his skills as an accountant for a charity for a faith-based organization. He could teach younger generations financial literacy.