Most people think that's all retirement is about -- having
enough money to sit on the deck, play golf, and visit the
grandkids. But that's the old model -- not today's
retirement. I believe you can revolutionize your
retirement even if you can't count on 80% of your current
revenue when you stop working. (That's the secret number
according to many retirement experts.)
Someone who turns 65 today can expect to live until age 83,
according to the US Bureau of Labor Statistics. So, even
if you stop working at the normal retirement age, you've
got nearly two decades to fill with things that really
matter to you. And, if you give up traditional employment
sooner, you've got even more years to enjoy the "third
half" of life. Today the average retirement age is an
astonishingly young 57.
I said "enjoy," and I mean it. To do that, you need to put
yourself squarely in the driver's seat -- decide when and
how you retire and who you will be. Don't let someone
else's definition determine your retirement.
So, begin by putting the money issue aside entirely.
That's right. Just forget about money and take a good hard
look at the life you want to be living. Start journaling,
brainstorm with friends and family, and dream a lot. For
inspiration, begin to brainstorm ideas and tools needed to
help you plan the perfect retirement for YOU.
OK. So money does have something to do with it. Now's the
time to figure out exactly how much you have and what
you'll need. Maybe you'll discover that you have enough
money to do everything you want to do. Congratulations!
But what if you don't? Will you need to work until seven
years after you're dead? Or can you still create the
retirement of your dreams? Of course you can. Here are
some ways to make that happen.
1. First, sharpen your pencil and reconsider how much is
enough? Maybe you don't need to stay in the big house and
take care of all that stuff. Perhaps you'd love to
simplify your life by living out of your RV as you travel
the country. What could you downsize or let go of to buy
yourself a more carefree existence?
2. Second, consider supplemental income. Wait a minute,
didn't I just say you were going to stop working? Well,
there's work. And, then there's work.
Larry was an art teacher in an urban high school for his
entire career. In retirement, he followed his passion for
painting and also volunteered at a national art society
near his home. His experience, enthusiasm and
organizational skills so impressed the Director that Larry
was offered a part-time position as Assistant Director.
Although he has less time for his painting, the
supplemental income allows him the luxury of another
passion - regular trips to Italy.
3. Maybe you've been passionate about your hobby all your
life -- making woodcarvings, gardening, or playing bridge.
What about a part-time job as a gardening assistant during
the summer, selling your work at craft fairs, or getting
certified as a bridge instructor?
Think about what you love to do, the best times in your
life, what you never had time for when you were raising
children and working full time. If you love animals,
become a pet sitter. Consider working in a day care
center, if small children delight you.
4. Try seasonal employment. That's what Betty and Bob do.
They say they're "rewired," not "retired." Each winter
they close their Maryland home, pack up her home-based
marketing business, and head to Snowmass, Colorado. For
the next two months, they work for the ski corporation --
alongside college kids from Australia and a few other
couples their age. He parks cars and slings skis on
busses; she helps families plan their vacations at the
resort. The minimum wage they make covers basic expenses;
they each get a season's pass worth $1,799; and they only
work a few days each week. The rest of the time they
follow their passion on the ski slopes.
Seasonal employment is available at National Parks,
community facilities, and as travel hosts to exotic places.
Furthermore, there are lots of Web sites that specialize
in senior employment.
5. But if you really want to make the most of the "third
half" of your life, consider packaging what you know and
sharing it with others. That's what Miriam did. After 30
years of a successful therapy practice, she traded her East
Coast home for a West Coast apartment. With her savings
and a handsome settlement from her ex-husband, she lived
the good life. Then one day the money was gone. Already
in her seventies, she picked herself up, buffed up an old
passion, and began writing psychological thrillers. Today,
Miriam is making more money than she did during her other
career and she's having a lot more fun.
What will it take for you to let go of your outdated
beliefs about money and retirement and get inspired to
revolutionize the "third half" of your life?
Remember, money is merely one of the 15 "must haves" for a
thriving retirement. While taking charge of your life,
having dreams for the future, and a purpose that pulls you
out of bed in the morning are not as tangible as, say, $1.3
million in assets, they're just as crucial.
----------------------------------------------------
Certified Retirement Coach Lin Schreiber, author of The
Retirement Re-Tool Kit, helps baby boomers revolutionize
and redefine their ideas about how they will live life in
retirement. To claim your free Boomer Transition Kit and
copy of 88 Tips for Planning A Healthy, Happy, Enriching
Retirement Life, visit her site at
http://www.RevolutionizeRetirement.com
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