Understanding The Thin Line Between Burnout And Well-being In The Workplace
No matter what time I get to bed, every weekday morning my alarm blares music loudly at 3 AM. I set my alarm loud to make sure I jumped out…
Berlin, Germany – March 23: In this Photo Illustration about workload a man sitting at a desk exhausted on March 23, 2016 in Berlin, Germany. (Photo Illustration by Thomas Trutschel/Photothek via Getty Images)
(Photo Illustration by Thomas Trutschel/Photothek via Getty Images)No matter what time I get to bed, every weekday morning my alarm blares music loudly at 3 AM. I set my alarm loud to make sure I jumped out of bed. As I go down to the kitchen to make the coffee, realization that I simply feel tired all the time sets in. My days are long because I have to take care of farm animals and dogs when I get home and I do not get a chance to take naps during the day. I am beginning to, wonder if what I'm experiencing is simply fatigue or a deeper issue of burnout. Is it exhaustion and the demands of my daily tasks or perhaps it's the demands of my job.
What is Burnout?
Dismissed as just another case of "the Mondays" or the dreaded "Sunday scaries," the reality is that burnout in the workplace is a real issue is recognized by the World Health Organization. We have all heard that phrase but, defining what "burned out" actually means has always been difficult to describe. Symptoms often vary, leaving us to unexpectedly hit a wall before realizing we hit it!
Courtesy of researchers at the Norwegian University of Science and Technology, they came out with a Burnout Assessment Tool which promises to detect the warning signs of burnout before it fully happens. If you are wondering how accurate this breakthrough is, fear not. It was successfully tested on 500 Norwegian workers and the results were detailed in the Scandinavian Journal of Psychology. Somehow this tool is smarter than we are.
This tool is designed to measure four critical burnout risk factors—exhaustion, mental distancing, cognitive impairment, and emotional impairment. Leon De Beer, one of the study authors, says the long-term ramifications of neglecting worker burnout leads into broader issues within the workforce. His colleague, Marit Christensen believes we need to stress the importance of addressing the factors that contributing to burnout, such as high demands and inadequate resources.
As I think about with the daily struggle between fatigue and burnout, I strongly believe that we need to cultivate environments that prioritize employee well-being. It's not just about individual treatment according to the position you hold at the company, but fostering working conditions and structures that safeguard the health and vitality of every member of the workforce.
How Much Do You Need to Retire?
Have you ever wondered how much money you need to retire? It's a big question and has a complicated answer. But, there are some ways to estimate how much money you'll need to retire comfortably. So, how much do you need to retire?
Before we get into those numbers, let's look at how the age at which you retire impacts how much retirement you currently get from Social Security. What is the maximum Social Security retirement benefit payable? According to Faq.ssa.gov, the maximum benefit is dependent on the age you retire. "For example, if you retire at full retirement age in 2024, your maximum benefit would be $3,822," they state. "However, if you retire at age 62 in 2024, your maximum benefit would be $2,710. If you retire at age 70 in 2024, your maximum benefit would be $4,873." Also, when you want to apply for retirement benefits, you can do so using their online retirement application here.
You're able to apply for your monthly retirement benefit as early as 62 years old. You can apply any time between age 62 and 70. The government calculates your payment by looking at how much money you've earned during your entire career. "The amount will be higher the longer you wait to apply, up until age 70," they explain. "The timing is up to you and should be based on your own personal needs." They also have a handy tool to estimate how much you'll get when you apply at different ages. Find the tool here. They also have a chart here where you can look at various dates and see how much retirement you get if you were born in those years. Wow. I have a ways to go, looking at those dates.
So, how much do you need to retire? Let's look at what some experts say and how to find out your needs.
It depends on when you want to retire
The age you want to retire can have a massive impact on the amount you need to save. If you delay your retirement, it gives your savings longer to grow, and your Social Security benefit will be higher. So, the longer you can delay, the better. In other words, working longer will make it easier save enough money to retire.
What kind of retirement lifestyle do you want?
Do you want to really live it up in your retirement, or will you be frugal? If you think your expenses might go up in your retirement, you have to save for it. But, if you plan to downsize, you can retire on less.
How much can you withdraw from savings each year?
The AARP sources a 1998 study from Trinity College in Texas, which attempted to "find the most sustainable withdrawal rate from retirement savings accounts over various time periods." In conclusion, the study stated that "an investor with a portfolio of 50 percent stocks and 50 percent bonds could withdraw 4 percent of the portfolio in the first year and adjust the withdrawal amount by the rate of inflation each subsequent year with little danger of running out of money before dying."
Retirement calculator
Fidelity has a handy calculator that will help you figure how how much you need to retire. First, they ask, what is your age? Then, what is the age you expect to retire? Finally, what do you think your lifestyle will be in retirement? Use their calculator HERE, and they'll give you some useful estimates.
