Starting Over

The phenomenon of a worker who may have been in the workforce for 40 years suddenly starting a new career at 50 or over is a trend that is exploding as we hit that age bracket.  There has always been a phenomenon of older workers trying something new but the trend has hit such a new high in the boomer retirement picture.  So, you have to wonder about what makes us want to start new careers late in life.

Part of it has to do with the way business has functioned in the last few decades.  In our parent's working years, the norm was to work for the same company and be a “company man” for 40-50 years, get that old watch and retire with a handsome retirement package.  That formula just doesn’t work anymore.

For one thing, retirement plans supported by employers have become a thing of the past.  Savings for retirement have plummeted as the financial demands of life are all most people can keep up with.  So, the concept of working on what used to be called retirement years is now a given if for no other reason than financial necessity.

The model I just laid out of employees staying with the same company for their entire adult lives is simply no longer a reality for all but a few in the modern workforce.  Most of us have worked for dozens of companies in our adult lives so our retirement packages if they exist at all, are small.  Part of this can be attributed to our entrepreneurial spirit.  But there has been a discernable shift in the way business works as well.  Companies don’t like the idea of keeping employees that long.  Add to that the fact that so many companies have gone out of business been absorbed in huge corporate buyouts or undergone drastic downsizing that by the time most of us hit their 50s and 60s, the idea of keeping one single career moving forward is pretty hard to sustain.

But these negative explanations are not all there is to why many of us are starting over late in life.  We never did accept that the rules of life or ageing applied to them.  We are ambitious, adventurous and willing to strike on new paths with much less fear than previous generations.  As we have faced some of the challenges of the economy and the modern business world, they have responded aggressively by starting businesses or changing their careers entirely late in life.  And we are just as willing to pay our dues and stick with that new career until we are successful as they were when they were 30.

Many of us found a line of work and learned we could pay the bills and raise the kids early in life but we did not follow our dreams at that time.  So, when the time in life comes that the kids are out of the nest, the house paid off and the adventure of living has settled down somewhat, many of us see that as the chance to finally throw off that boring old career and go after their dream once and for all. 

It’s inspirational to see someone in that stage of life setting the standard for not settling for anything less than realizing their dream by launching a new career doing what they always wanted to do all along.  Who can fault us for wanting that kind of gratification of finding success in a career that fulfills their passions?  God bless those who go for the brass ring in their golden years.  They will be an inspiration for many coming behind them to be as bold about their lives as well.

On the Road

“On the Road Again” is a well-known song by Willie Nelson released in 1980 one of many songs that embraced the idea that baby boomers love to travel. In 1969 Canned Heat released a song called Going Up The Country, which is one of the first songs that gave me the travel itch. There was a famous novel by Jack Kerouac that represented the generation before the time of the boomers, but that novel very much became a bible for us during the 1960s.  As a result, there is wanderlust and a yearning to get away from it all and travel that is deeply ingrained in our mentality and way of viewing the world.

It isn’t surprising then that as adults we have created a leisure and travel industry that has reached new levels of popularity in the last three decades.  So nobody would be surprised either when in our early retirement years begin to look into becoming the ultimate wanderers by hitting the road in their RVs and staying on the go virtually nonstop.

The spirit of adventure and desire not only to see and be part of the expanse of our glorious country has a lot to do with the yearning to travel that is so common my generation. It is more than just wanting to see great sights and enjoy the huge variety of climate and landscapes that Canada has to offer that lures us out of our rocking chairs and out onto the highways.  I am sure this idea also appeals to boomers, no matter where they live. It is also the allure of meeting new people, becoming “citizens” not just of their local community but of the world and packing their retirement years with fun and new adventures that have a genuine appeal.

We have always been people of adventure.  This can be seen in the great literature that has been made popular by my generation.  The Lord of the Rings is a great example of how we see the world. As ordinary creatures, the Hobbits, go on the road to do some great thing to save their world.  No wonder that trilogy became an anthem of the boomers who have always seen themselves as adventurers with a mission in life to do good for all mankind.

Hitting the road in an RV, as tame as that may seem, also appeals to a sense of unrestrained life that helps us combat the feeling that the world is closing in around us.  Another song, “Born to be Wild” was more than a catchy tune.  It expressed a self-image enhanced by the movie Easy Rider had us believe that we were only somewhat civilized and that there is a part of our nature that could never be tamed.  The freedom of travel and the lack of restrictions is liberating to those who may have been boxed in by life’s responsibilities, jobs and families for much of their adult lives. 

In this way, we don’t see retirement as a time to cut back on the adventure of living.  Quite the opposite, we see the chance to live on the road in our RVs as a chance to release that inner bohemian wanderer, that Jack Kerouac and Neil Cassidy that lives in us and give the free spirits amongst us the chance to redefine the world in their own terms.

We can be an inspiration to generations to come that they can live a life of responsibility and maturity and still retain a little of that inner beatnik or hippy that truly was born to be wild.

Which type of health style describes yours?

According to a study done in 2014, there are four health styles that Boomers fall into, which best describes you?

Healthy and Proactive

The Healthy and Proactive take charge of their health and health finances. They are the most actively engaged in healthy behaviours such as exercise and eating well, have the most positive attitude about their health, and also feel well prepared for health care costs in retirement.

This group:

·       Actively engage in key health behaviours such as exercising and eating well (73%)

·       Does not allow things to get in the way of taking care of their health (25%)

·       Say that staying healthy is a source of pride

·       See themselves as limited by a chronic condition (20%)

·       Have proactively researched retirement-related health care costs and insurance options (49%)

·       If married, have had discussions with their spouse about retirement health care topics

·       Is 55% female, and 45% male

Lucky but Lax

Lucky but Lax have been fortunate to be relatively healthy so far, but show little interest and effort in taking care of themselves or planning for their health finances, leaving them potentially vulnerable to future unexpected health disruptions.

This group

·       Have fewer chronic conditions than other groups

·       Rarely seek out information to improve their health

·       Feel some concern about the impact an illness could

·       have on their financial situation

·       Does not research retirement-related health care costs and insurance options (23%)

·       If married, do not have had discussions with their spouse about retirement health care topics

·       Is 41% female, 59% male

Course-Correcting and Motivated

The Course-Correcting and Motivated have experienced a health “wake-up call,” such as an illness or diagnosis, and are now trying to improve their health by seeking out information and tools as well as adopting healthier behaviours.

This group

·       Say having a chronic condition was a wake-up call for them to take better care of their health

·       Engage in healthier behaviours actively seek out information about how to improve their health

·       Are very interested in technology that can help them better manage their health

·       Are very concerned about the impact illness could have on their financial situation

·       Have researched retirement-related health care costs and insurance

·       If married, have discussed retirement health care topics with their spouse

·       Is 53% female, and 47% male

Challenged and Concerned

The Challenged and Concerned are struggling with health challenges, yet many are not actively taking good care of their health. They are the most worried about the impact of illness on their finances and are the most likely to say health care costs and insurance information are overwhelming and confusing.

This group

·       Have chronic conditions, which keep them from doing the things that they enjoy

·       Has low engagement in key health behaviours

·       Say other life worries and responsibilities get in the way of taking care of their health

·       Are seriously concerned about the impact illness could have on their financial situation

·       Has not researched retirement-related health care costs and insurance options

·       If married have not discussed retirement health care topics with their spouse

·       Feel very overwhelmed and confused by retirement health care cost and insurance information

·       Is 57% female, and 43% male

Do you have a reason to get up in the morning?

Forced to retire early, because of economic uncertainty or illness then you may have some fears and questions. Before settling into this new life, there are the practical realities, of course: money, location, healthcare. Once those are arranged, however, what comes next? What do I want to do with my time now? What will get me out of bed each morning? The questions are mostly short but hardly simple. Here are a few:

·       What gives me pleasure?

·       What do I most care about?

·       Can I use my career experience in new ways now?

·       What's been missing from my life?

·       What have I always dreamed of doing?

·       What gives me a sense of purpose?

·       What and who are most important to me?

·       What does an ideal day look like?

There are many others and the hard part is that no one can answer for you.

Here is a short answer, life after you retire, forced or voluntary is a continuation of life before retirement, without the bother of that 8:00 am to 4:30 pm stint at the office.

Of course, we need money for retirement and if we were able to we put some money away for retirement if we did not then we are faced with some problems. These money problems are not life-threatening, however, the answers we chose may be life-altering. We know that it is possible to estimate fairly accurately how much money you'll need to live on after you retire, and in most cases, it's nowhere near the "70% of your present income" that many say you need to maintain your present lifestyle. If you don’t believe me do a google search for "retirement calculators" to get ideas on financial planning. The real keys to a successful retirement are good health, spiritual life, relationships with family and friends, and having interesting things to do.

What are the habits and lifestyle choices that set you apart as a from those who are bored, lonely, and depressed? These choices are important because the difference between a happy, fulfilling retirement and "waiting for the Undertaker" is not money but the quality of life -- family, friends, good health, and meaningful 

activities that give you a reason to get up in the morning.

Some reasons given for getting out of bed in the morning are

·      All of the people who love and care about you want to spend time with you so don’t leave them waiting.

·      Because let’s be honest, you just really have to pee.

·       Breakfast is calling your name.

·       Each day is full of new surprises.

·       Retirement is the time to dust off your ‘bucket list’ and make a list of the ‘100 things you want to do before you die’.

·       It is important to live without regret – so spend time doing the things you want to do, rather than getting caught up in the things you feel you have to do.  Simply start by making a list of what you want to do!

·       Expand or develop your hobbies. Start taking Art Classes, join a group of Quilters, finish or start a woodwork project for your grandchildren, make miniature furniture, play bridge or golf.

So when we retire we cut out the structure provided by work so we need to find something to fill that space and time. For so many of us, life outside of work has consisted of years of relaxing, unwinding and preparing ourselves for the treadmill.  Many of us have forgotten how to find things to do that stimulate us and keep us interested and absorbed outside of work, so your first job when you retire is to find those “jobs” that keep you stimulated, interested and absorbed in life.