Retire to a New Career

Whether for financial reasons or to keep busy, retirement for many baby boomers will likely include a healthy dose of work. The retirement our parents and their parents aspired to when at 65 you left your working career for a life of leisure and relaxation is no longer the norm.

And it is not necessarily a bad thing. A job definitely has its good points as you engage with people each day and put yourself to the test to achieve goals and deadlines. Plus it is always nice to have a little additional money in our accounts although many have wisely come to realize that money is not all there is to a satisfying retirement.

With the reality that many boomers will be working into retirement, it becomes important to shape that retirement career into something that gives you enjoyment and satisfaction. This second act can be an opportunity to explore new interests and pursue your true passion.

Take a look at this weeks blog in US News & World Baby Boomers Plan Their Retirement Career for some additional thoughts on preparing for this important phase of retirement life.

Helpful Site: I recently discovered a site that provides a collection of eBooks with a focus on personal finance and retirement planning. Some books are free – including yours truly Navigating the Retirement Jungle – and others come at a nominal price. I recommend you take a look when you have a chance at Personal Finance eBook Library.

Insight into the Importance of Planning for Retirement

Guest Post by Bob Lykke

At 76 years of age I’m in my 15th year of retirement.  After being in the education profession for thirty-five years I transitioned from the busy life of being a school principal to serve as a supervisor of student teachers and administrative practicum students
at the University of Nebraska at Omaha. I knew that I could not just retire with nothing to do, so I spent considerable time planning this first transition.

I believe planning for retirement is much like planning for a special trip you are taking.  This thoughtful preparation is critical for those early years after stepping away from a job you have enjoyed and treasured.

The other thing I’ve noticed about retirement is that it has been a series of transitions.  I spent eleven years at the university, but after eight or nine years there I began to scale back my schedule.  At this time I once again put careful and thoughtful planning on the front burner.  I asked myself what I wished to do after my second retirement.  During the last three years at the university, I studied what I wanted to do in the next stage of life.

Keeping busy in retirement

I am now retired and volunteer as a tutor in four elementary schools a week.  In addition to that I deliver meals on wheels one day a week, and am very involved in our local Kiwanis Club.  I volunteer in schools because I knew that I needed to be around children.

It is very important to know yourself, and think about how you want to spend the extra hours you have each week. I’m a firm believer in having a purpose and finding meaning, and working with children has fulfilled those things for me.  Each year, I
take some time to look ahead, and think about the next transition in my life.  My tutoring ends at noon each day which gives me the afternoon for golf, fishing, and other hobbies I have.

Retirement has also taught me the importance of balance and truly enjoying leisure
time. I’m still learning about this stage of life called retirement. I prefer to call it, “Finding a new life.”

Simple Cost Cutting Tips to Boost Retirement Savings

Who would not like to have a little more money left at the end of the month? But for retirees living on a fixed income, options are limited. As we are no longer in the work force we cannot readily increase the money coming in. And with recent financial gyrations and uncertainties we can only hope that our investments will continue at a steady level at the very least. Senior citizens are forever challenged with how to achieve security in retired life.

It is possible to have an impact on the spending side of things if we are willing to take a little time to review our expenditures and reconsider choices made. I am not talking about drastic changes in your lifestyle but rather little tweaks here and there. For example, cutting your cable bill by $50 per month nets you a nice $600 yearly addition to your account. Cha-CHING!

Read how you can make a few minor adjustments in your retirment lifestyle to leave you with more at the end of the month in this weeks US News & World Blog 5 Cost-Cutting Tips to Stretch your Retirement Budget