Adapting to a different world

Nothing signals the coming of the festive season better than an army of Santas running around the streets and the nature reserve that borders our town. In addition to the local athletes we also attract young children holding their parents’ hands, people being pushed in wheelchairs, and even dogs dressed as Santa. This all adds to a feel-good atmosphere.

I am Chairman of the organising committee. This is not a difficult task, we usually do what we did last year with a few tweaks to ensure we are taking account of participants’ feedback and any new safety regulations that have to be complied with.
Until this year.

As our town centre is small there is no way we could ensure social distancing is maintained. Especially at the finish line. Sweaty Santas in close proximity, breathing heavily, comparing times, congratulating each other and being congratulated by friends, relatives and well-wishers. What is usually an uplifting occasion could be a dream environment for a virus to be passed around.

The town centre has to be part of the run, to start and finish elsewhere is not viable.

Another problem is stewarding. Getting enough volunteers to steward the route and ensure runners cross roads safely, know where to run and are generally looked after is difficult in ‘normal’ years. Several of our regular volunteers are elderly and need to be extra careful while the virus is amongst us.

Early on this year we decided not to follow the Prime Minister’s optimism that this would all be over by Christmas. If we did, and he was not right, we would be unnecessarily spending funds designated to help charities that we would never recoup. So, there will be no Santa Run in Thatcham this year.

The Santa Run brings fun to the community and benefits the less fortunate in our town. We therefore decided that we would hold a Santa Fun Day instead.

We are encouraging people to do what they would normally do around the town on a Sunday, within the regulations, dressed as a Santa. We are offering prizes for the best dressed Santa, Santa found in the most unusual place and the child that spots the most Santas on the day (not the actual Santa – he will be exceptionally busy.)

Again, we will be encouraging people to undertake a sponsored activity on the day – dressed as a Santa.

The changes we have had to make reminds me of the transition individuals have to make from work into retirement. Many find this difficult to adapt to in normal times, let alone now. Changes in routine, changes to sources of income, and how to adapt spending to new circumstances are all problems that have to be overcome.

These are all aggravated by the impacts of Covid and the constraints on lifestyle that have been imposed. The retirement they dreamed of, like our Santa Run, has probably been put on hold for a year or two. How many celebratory retirement cruises have been cancelled? How many will have to retire on a much less income than expected.

In that sense, will moving to retirement now become a two-stage process? Moving voluntarily or involuntarily into retirement in the pandemic, then once we have got beyond the pandemic reinventing their retirement to what is do-able?

Spending in retirement is often portrayed as following a smiley face graph. Spending in the initial phase is high while the new retiree has health and energy; as they grow older, spending declines until health and care costs require higher spending.

As we escape the restrictions of the pandemic, will there be a built-up frustration among younger pensioners to start living again? Will this create a turbo-charged spending frenzy among healthy energetic pensioners who want to fulfil those dreams that have been put on hold? The danger is they will spend more than their pensions and retirement savings will be able to cope with. And yet again, at this point, housing wealth will have to be called upon.

As always prior planning is always more efficient than reacting to resolve a bad situation. Are you in close contact with retired clients to understand how they are changing their ‘retirement run’ into ‘retirement fun’ and how you can help them have that fun? If not, then why not?

The requirements of those in retirement are not going away. Next year we could be back to normal – if so, then the Santas will be out in force and I suspect so will the retired.