Monthly Archives: September 2010

Accepting Aging

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Say it isn’t so. Out walking this morning, I glanced down at my short-pant-clad legs and saw something I had not noticed before. The last time I looked at my legs, I remember seeing nicely toned, could-be-a-little-more-tanned thighs holding me up. Today I swear I saw the legs of an “older” man. Nothing drastic but you know how the skin seems to have been over stretched just a bit and is not clinging as tightly to the muscles beneath? Then it dawned on me – I am getting older, not just on the inside but on the outside as well.

How was it possible for aging to catch up with me? I have been an exercise fanatic since college and even today have a regular routine. I ride the stationary bike 3-4 times a week for 40 minutes with my heart rate around 130-140, I lift weights twice a week, I do a yoga/pilates routine twice a week, and on the weekends, my wife and I take a long walk in the nearby hills or beach. We eat very well avoiding fat and salt, go organic whenever we can, and do not over eat. Sure we are both over 50 now but what the heck!

I guess when it comes to aging, you can run but you cannot hide.

I have always been a realist. I accept the facts for what they are and go with the flow. This aging thing is just another part of my life and I need to realize and accept that fact. Aside from the physical aspects (I will miss my young legs), I realized there are many positives that have come with my advancing years and the knowledge I have gained.

(1)  I have successfully raised two wonderful children who make me proud each time we interact. Each has grown into a young adult filled with those values that are important in life and critical to their continuing happiness. Had I not grown “older” (not OLD), I would not have been with them each step of the way helping where needed, encouraging on occasion, and admiring their progress often. I would not change it for the world.

(2)  With age comes wisdom – friends and family may quickly point out that I have not nearly reached the pinnacle of my ultimate wisdom, but I have been learning along the way.  I have learned not to sweat the little things but instead to accept that not everything will go the way I want, nor necessarily should it. I have learned to immeasurable value of my family who have been with me through numerous difficult times, supported me, loved me, and without whom I would not be the person I am today (or maybe even here today). I have learned that it is okay to cry because if you feel like crying, there is a reason. I have learned that my wife is my best friend, my confidant, consciously blind to my faults, always there when I need her. I have learned that money does not make the moment nor buy happiness – that can only be found within you.

(3)  Pursuing a passion is what ultimately makes each day worth living. I realize that I worked 30 years (probably a few more to be added to that) at various jobs to make a living. Although that is a worthwhile, noble pursuit and it does get you up each day, you will not likely arise with the excitement, energy, and urge to get to it. I am not complaining – I did what I had to do, met some wonderful people along the way, participated in the growth of multiple companies, and survived. But my advice to those starting down the employment path or still early in their careers will be to look for that passion. How much better to start your day WANTING to get going, anxious to do what you LOVE, a force to be dealt with. If you do what you love, the money will come. And even if it is not a fortune, don’t trade your happiness for the promise of a big bank account.

(4)  Frugal can be fun! Life can be enjoyed on a budget, economically. Extravagant spending is for the rich and spending more does not proportionately increase pleasure. Finding a good deal is satisfying in itself and as long as you are with the one you love, every moment has the potential to be memory making.

(5)  I cannot change the past, I do not know what the future holds, so my best bet is to live in this present moment. My aim is to focus on today, now and live it fully.

As we advance in life it becomes more and more difficult, but in fighting the difficulties the inmost strength of the heart is developed. ~ Vincent van Gogh

Life is a journey and our faithful travel companion is our aging mind and body. We can prepare for the trip with maps and plans and wishes, but the road ultimately leads where it will. The best way to enjoy the trip is to appreciate each moment, each new sight and sound and feeling. Live, learn, love, and keep going. Who knows what lies beyond the next sunrise…

 

Don’t forget to pick up a free copy of my Navigating the Retirement Jungle, available upon request by mailing to lovebeingretired@hotmail.com.


Never Retire!

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We hear every day about the impact our stumbling, bumbling economy has had on retirement nest eggs. Many have lost 30-40% of their savings at a time when then cannot afford a reduction of any kind. We retire to get away from the working world after scrimping and saving, to relax in the sun and the glory of no work. Isn’t that the way we are supposed to do it? That is what everyone from our employers to the government is telling us. So what is up with these senior citizens who say they do not want to stop working? Do they have a screw loose?

Barclay’s did a recent survey where they discovered that many wealthy workers have no intention of ever retiring. 60% of those surveyed in the U.K. plan to continue working, coining the phrase “nevertiree”. The survey was done for high net worth individuals so does it apply to the rest of us?

According to the Bureau of Labor Statistics, 18% of workers over 65 plan to continue working and this number is expected to increase to 22% by 2018. And this is not just triggered by recent financial problems. CNNMoney.com notes an upward trend in working longer prior to the financial collapse. So this thinking is across the board whether referencing the wealthy or otherwise.

Why work longer than you have to?

So how did we get to this point? Why would some find it attractive to keep working beyond retirement as compared to retiring as we are “supposed to”?

(1)  If you delay collecting Social Security benefits to age 70 instead of starting at your earliest possible age 62, your benefits will be 75% more.

(2)  Mental stimulation by remaining at work, facing challenges and meeting deadlines

(3)  Interaction with co-workers.

(4)  Making more money.

(5)  You are not responsible for planning out your day. You show up for work and away you go.

(6)  You like what you are doing and want to continue doing it.

And the trade-offs for continued work versus putting up a retired shingle?

(1)  You are still doing what someone tells you as opposed to what you really want to do. If you keep on doing the same thing, you may never have a chance to pursue what you are truly passionate about.

(2)  How much money do you really need to be happy? If you are struggling to make ends meet, work is the obvious option. But if not, do you really need an ostrich-sized retirement nest egg as opposed to a hen-sized one?

(3)  When will you ever get to those projects around the house, that stack of great books, those music lessons or that foreign language course that you have been looking forward to?

(4)  After working for 35-40 years, how about a change?

For me it comes down to a matter of personal preference. While I can understand having an interest in continuing to work for various reasons,retirement for me is my well-deserved time to do what I want to do. As long as I can afford to not work, that is what I will be doing. Before now was my working life. Moving forward is my retired life. And I plan on giving as much focus, effort and commitment to being retired as I did to working – maybe even a bit more.

Don’t forget to pick up a free copy of my Navigating the Retirement Jungle, available upon request by mailing to lovebeingretired@hotmail.com.


How to Spare your Retirement Budget and your Sanity Christmas Shopping

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We wish you a Merry Christmas and a Happy New Year

Christmas in October? You may think that is a bit premature – after all, we haven’t even gotten through Halloween yet! But hear me out. Gathering up just the right gift for friends and family before the final Holiday bells toll can be an overwhelming task if you wait to the last-minute. The pressure to find something personal and unique for everyone can really put a damper on what should be a joyous time. Just like our retirement discussions, planning and preparation can make the whole experience more enjoyable and affordable. I am a big believer in getting it all done early – my goal is to have everything wrapped by the end of November. Once the presents are taken care of, I have time to relax and enjoy the season, avoiding the battleground of the shopping mall as the final hour of midnight December 24 approaches.
Here are my personal goals during the year as the Holidays approach:

1. Get it done early

2. Get it done under budget

Here is how to  do both.

Get it done Early

How many of you start Christmas shopping when you begin hearing the jolly jingles on TV and start seeing freshly cut Christmas trees tied down on the tops of passing cars? If so, you are too late. How can you expect to find 8-10-15 or more gifts that say you took the time to find something specifically for them if you only have 6-8 weeks? I start shopping basically on Jan 1. As my wanderings take me to stores and art festivals, as I travel, with each advertisement I see, I am keeping my radar up for that perfect gift. Those strange catalogs that come in the mail can be a treasure chest of really “different” gifts, some perfect for that uncle with the warped sense of humor or that parent who has everything and needs nothing. Suggestion made by friends and family during the year do not go unnoticed. Pay attention and you will be rewarded.

Once I buy the first gift for whomever, I start my list. Now I put down the names of everyone that I plan to buy for. Next to the names, I include possible gifts as I brainstorm a bit. And during the course of the year, as I buy the item on the list, I put an “X” next to the gift so I can quickly tell who is getting what and make sure the number of gifts is equitable. You don’t want to be opening presents and unexpectedly discover that one child has only a fraction of gifts as the other. What are they supposed to unwrap while impatiently waiting for Billy to open his pile?

As I said, my ultimate goal is to have everything purchased and wrapped by the end of November.

Get it done under budget

There are two ways to set a budget for yourself. One is to decide upon a total dollar amount that you will spend and then divide it amongst the total number of recipients. You have a little leeway here in what you spend per gift as long as you stay under your total budget. The second way to budget is to decide upon a total dollar amount per recipient and calculate your total budget based upon that. As for what is a “reasonable” amount to spend on your friends and family, that is up to you and your financial situation.

The key here is to continually tabulate your spending to be sure you remain on track. If you overspend on Aunt Suzie, cousin Chip may suffer so do your best to keep it fair (unless you like Aunt Suzie better).

I am happy with a simple list to keep track of my efforts. If you are more of a spreadsheet person, you may want to take a look at what Liz Weston shares in “Geek out with me: the holiday planning spreadsheet” .

To truly enjoy Christmas and the Holidays, get your shopping out-of-the-way early. You will earn yourself freedom from crazed mall shoppers, enjoy peace of mind and give yourself an honest chance to experience the season for what it really is before the advertisers got hold of it.

As a senior citizen, your eye is ever on your financial situation. Once you set a reasonable budget, stay within it so you are not regretting your kindness later when the bills roll in.  And with a little digging and focused attention throughout the year, you will be able to find those personal gifts – not necessarily expensive – that bring a smile to a face and help to maintain your enviable status as the “cool uncle” who always gives the best gifts.

 

Don’t forget to pick up a free copy of my Navigating the Retirement Jungle, available upon request by mailing to lovebeingretired@hotmail.com.