Tag: transforming your retirement

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Viewing Retirement – Is Fear of Boredom Keeping You on the Job?

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Bored

A number of people who are close to or even past the typical age of retirement have said to me that they don’t know what they would do with their time if they retired. So they continue to work even if it is not satisfying in fear of that alternative of boredom, decline and lack of purpose. Some who do retire soon may find they are in that space – if they have not considered and planned for a satisfying, stimulating time of retirement.

In fact, the Federal Reserve published the results of a survey in 2016 which indicated that one-third of retirees eventually reconsider their decision and return to work either full time or part time. Also, the Rand Corporation study published in 2017 showed that 39 percent of those 65 and older who were currently employed had actually retired for a period of time and returned to the workplace.

Financial need can certainly be the reason or one of the reasons for this phenomenon. However, the decision for many people has as much to do with social and personal needs and issues aside from income. Gary Foster wrote about this in his article, “How to Avoid Being a ‘Bored Boomer’ in Retirement” on his website “Making Aging Work” and it was printed at NextAvenue.org: https://www.nextavenue.org/bored-boomer-in-retirement/

Foster suggests 3 things to help one avoid becoming a “bored boomer” in retirement: Unmuzzle Your ‘Essential Self’, Reintegrate Yourself, and Start a Lifestyle Business.

Reintegrate Rather Than Reinvent

One of the most intriguing things to me was Foster’s choice to recommend that boomers reintegrate rather than reinvent themselves. He credits the CEO of Encore.org Marc Freedman’s article in the Harvard Business Review, “The Dangerous Myth of Reinvention” for his choice:

He wrote: “Isn’t there something to be said for racking up decades of know-how and lessons, from failures as well as triumphs? Shouldn’t we aspire to build on that wisdom and understanding? After years studying social innovators in the second half of life — individuals who have done their greatest work after 50 —I’m convinced the most powerful pattern that emerges from their stories can be described as reintegration, not reinvention. These successful late-blooming entrepreneurs weave together accumulated knowledge with creativity, while balancing continuity with change, in crafting a new idea that’s almost always deeply rooted in earlier chapters and activities.”

It’s the difference between continuing, in most cases, doing work that you’ve been doing –  and creating something that draws from what you have observed and learned. For many people the process of figuring out what that will be is a process that will energize and excite them and inspire others to do the same.

Regardless of how close you may be to making a decision about retiring, you may find it a stimulating process to think about what you might do to reintegrate yourself for the next phase of your life.

Marc Freedman has written a few books; you may be interested in this one:   The Big Shift: Navigating the New Age Beyond Midlife

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6 Things You Bring to Your 3rd Act

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Transforming your years after 50, sometimes called our 3rd Act,  is a journey of awareness and action. As you look forward to, enter or are in the midst of these years, it is helpful to look at what you bring to this stage of life.

Here are 6 major categories to examine. You will identify things that either can sabotage your dreams or enhance them.  Click above on the subtitle of this post, “What you bring with you to your 3rd Act” and you will see posts related to these six categories + a few more.

 

 

 

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Transforming Your Years After 50: Vision Boards Work in Many Areas of Life

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Vision boards can affect various aspects of your life as you are transforming your 3rd Act. When you create your vision board, regardless of which of life’s aspects you’re focusing on, be sure to look for images and words that make you feel the way you imagine you’ll feel when you achieve your goal. It’s not about what you want to have. It’s about how you want to feel.

Any area of your life can benefit from a vision board. Here are some key areas with some tips.

Self-Care
How’s your health? For many people over 50 years old`, it could be better.

How can a vision board help? By making it clear how much better you will feel (there’s that word again) when you do eat healthy, exercise, and are hydrated.

A vision board filled with images of fun activities in relaxing locations is just the thing to remind you—the next time you reach for another slice of pizza—that you’re working toward an achievable goal.

Family & Friends
We don’t often think of vision boards as being helpful with building relationships, but give it a try. First think about…
• What kind of relationships do you want to have?
• What’s most important to you as a spouse? Parent? Son or daughter? Friend?
• How do you want your spouse to feel when he sees you?
• How do you want your kids to feel when they’re teenagers?

Fill your vision board with items that represent the best relationships you can imagine, and soon enough, you’ll begin creating those bonds in your own life.

Recreation and Adventure
This might be the easiest area. Include both things that you could easily do and the big dream trips or adventures. Focus on how you will feel when you are doing these things.

With your vision board populated with meaningful images, thoughtful and motivating quotes, inspirational messages, and plenty of creativity, even these big scary goals suddenly feel much more attainable.

Finances
A creative vision board can help with your financial goals, too. Start by asking yourself…
• What does financial freedom mean to me?
• How can I change the world if I earn more money?
• What charities will I support when I start earning $xxx?

Then find the images that represent the feeling of fulfillment and joy you’ll have as you’re able to achieve these goals and more. Maybe that’s a photo of needy children your church group helps support, or an animal rescue organization you love. Or maybe it’s just a big pile of money so you can retire young and live on a yacht. It’s your dream, and it can be anything you want it to be.

These areas and others are all part of transforming your years after 50 into a time of joy and fulfillment. Vision boards are a tool to help you do that.

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The Power of Vision Boards

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At the beginning of a year or whenever you want to regroup, vision boards can help you be and do the things you desire. How? You have probably heard of the law of attraction, which some years ago became widely known through the movie and book, The Secret. Simply stated, when we focus on something, we attract more of it, whether positive or negative.

If you spend all your time worrying about money, it seems to slip right through your fingers. If you obsess over your weight, the pounds stubbornly hold on. And if you daydream about relaxing in the Caribbean sun, you’re a lot more likely to find yourself on a beach chair in the near future.

This isn’t some airy-fairy make-believe, either. We’ve known for decades that daydreams have power, and that purposeful visualization is the key to greater success in every area of life.

Top athletes practice endlessly, not only on the field, but in their minds. They actually see that perfect shot, winning race, or stunning back flip. They concentrate on the minute movements that make it possible, how their muscles will react every second, and how they will feel at the end of a stellar performance. This type of visualization creates neural pathways in our brains that are virtually indistinguishable from those caused by completing the act itself.

The result? Nearly the same as with actual, physical practice.

It works the same way for you. When you visualize your ideal retirement years, your happy home life, your dream vacation, and even your income goals, you’re primed to achieve them. And you’ll meet those goals much faster and with fewer stumbles than if you simply list your goals (and deadlines) on a calendar.

Like anything though, effective visualization takes practice. As kids, we spend much of our time daydreaming and playacting, but those are skills we lose as we age. A vision board can help kick start those creative visualization skills again.

Here’s another benefit of creating a vision board: It will boost your spirits when you face life’s inevitable struggles. Having a bad day? Spend some time working on your vision board, and you’ll feel noticeably lighter at heart.

Feeling overwhelmed? Take a look at your vision board for an instant reminder of why you’re working hard now, and what you stand to gain from it.

Struggling to reach a client? Read through some of the beautiful things other clients have shared about their journey with you. You’ll be immediately reminded about how valuable you are, and why you do what you do.

Vision boards can be effective in many areas of life – health, family and friends, leisure, finances, learning, etc. As you continue transforming your years after 50, vision boards can help you focus on those things that will give you joy and fulfillment.

Here’s a tool you may find helpful: Vision Board How-To

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Transforming Your Years After 50: Introducing Vision Boards to Achieve Your Dreams

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As you are transforming your years after 50 into a joyful and fulfilling time, you need tools to help you focus on your goals and dreams. Too often we think of goal setting and creating big changes in your life as requiring lists and deadlines – the kind of things we might want to leave behind as we transition from full-time structured jobs and careers to other configurations.

We look at that list of dates and to-dos and we’re instantly overwhelmed with the enormity of it all, so we file it away for “later.” And often “later” will be never. So looking for other tools is a great idea. We have dreams of how our retirement years can be, and that’s what vision boards are all about: dreaming. In fact they are sometimes called dream boards.

Rather than a bland calendar or spreadsheet with dates and impressive sounding goals on them, vision boards give you the creativity to let your dreams grow. It is a visual tool that helps you feel the achievement of your goals and dreams. That’s the real power of a vision board.

What Exactly is a Vision Board?

It’s a collection of images, quotes and symbols that have meaning to you and which represent your life as you would like it to be. Vision boards come in many different formats, both digital and physical. We’ll talk more about that later, but for now, let’s take a look at the components of vision boards.

Images. By far the most common item on vision boards are images: photos, drawings, mind maps, sketches or anything else that has some meaning for you. For example, if world travel is one of your goals, you might include photos of historic landmarks you want to visit, or airplanes or ships (imagine the feeling of freedom associated with those).

Motivational messages. Your vision board might include messages you see posted on social media, phrases you read and jot down in your journal, or even testimonials from your clients or nice things others have said about you. Anything that’s motivational to YOU.

Inspiring quotes. Inspiration is different for everyone, and the sources are endless. You probably already have favorite quotes; expand those by doing Google searches by topic or by person.

Everything else. What else inspires or motivates you? The blue ribbon your grandmother’s quilt won at the state fair? A small vial of sand from that secluded beach you’ll retire to someday? Vision boards can include these treasures as well. You just might have to be a little creative when it comes to adding them.

Transforming your 3rd Act calls for new tools like Vision Boards. See additional posts for more specifics on how to create and use them.

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Transforming Your Years After 50: What if My Current Relationships Improve and I Create New Ones Regularly?

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It’s easy to get in a rut with our relationships over the years. We may not even notice what had evolved into comfortable, known patterns are now more of a rut. As we individually travel down our life journey, our needs change but our relationships don’t always evolve along with them. If we haven’t moved or changed jobs for many years, our circle of friends, co-workers, neighbors and acquaintances may not have changed too much.

As we change our status from employed to retired, it dramatically affects our relationships. Let’s look at some of those relationships, how they will change, and how to re-create them during this time of change.

Relationships with Your Spouse or Whoever Lives in Your Home with You

You will likely be spending much more time with the people in your household during retirement even if they still go to a job each day. Take some time before you retire if possible to discuss what this change will mean for all of you. Here are some topics you may want to look at.

+ Household maintenance responsibilities. What are your expectations of how that will change; what are theirs? Especially if they still go to a job, their expectations may be that you will have time to do all of the cleaning, cooking, etc. That may not be your expectation. Discuss this and negotiate if necessary.
+ Household expenses and budget. Be sure you’re on the same page about this as soon as possible.
+ Any hints that there are new issues caused by your new status. Raise them sooner rather than later. This can be an exciting time of reformulating and renewing your relationship.

Relationships with Other Family Members

You’ve probably anticipated that family members who are still working will be thinking or saying, “S/he is retired now; s/he can do that.” It may be planning the next family gathering, taking a larger share of caretaking or support for an elderly relative, taking care of grandchildren or other children in the family…you get the idea. To minimize the friction about such issues, be proactive in informing family members what your intentions are as you move into retirement. Let them know what you will be doing with “all that time.” If you are willing to take on some additional things as noted above, say that also. If there are not-so-positive responses, it’s better to work them out early than to have tension and negativity. Invite them to celebrate your new status and plans. You will also be modeling how they can make the transition themselves

Relationships with Your Former Co-Workers

You probably spent more hours with them in a given week than with any of your friends and perhaps even family members, and now they will be outside of your daily orbit. At the farewell lunch or party, you will probably talk about getting together regularly as a group or at least with a few of your closest friends. This can be a good transition strategy for you because abruptly cutting off all of those relationships can be an emotional loss. Unless you are leaving under negative circumstances, keeping some contact with the organization and the work may be a positive move.
As you continue relationships, be alert for any signs that this has become an obligation on either side rather than a genuine desire for contact. If this happens, you have a couple of choices: decrease the frequency of get-togethers or together redefine your relationship. Rather than the occasional lunch during a workday which tends to put the meeting in the context of work, do something else together in the evening or on the weekend. Develop new shared experiences this way.

Relationships with Friends Outside the Workplace

Maybe you have retired friends who will assume that you are free and ready to spend lots of additional time with them now. If you agree on that, great! If you want to spend your time differently than they do, however, here’s another opportunity for early direct communication. Have a conversation focused on your transition to retirement, your plans and dreams and how your relationship with them fits into that. You will build the foundation of the next phase of your relationship and could even inspire them to be more intentional about their retirement lives.
As you are transforming your years after 50 – especially as you move to retirement –  you will also meet new people and form new relationships. This can be one of the greatest parts of these years.

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Transforming Your Retirement: What if You Generated Any Needed Income in Creative, Fun, Fulfilling Ways?

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It is very possible that a significant number of baby boomer retirees will need to generate additional income during retirement. As the economy has had ups and downs, savings, investments and pensions have been affected. Companies have even reneged on promised pensions and paid health to retirees. Others were already low on savings and had inadequate pensions.

Transforming your retirement may include some income-generating activity so that you can afford to do the things you most want to do. One of the most important mindset issues is to replace concern, fear and worry with positive expectation and belief that there are many more ways to earn income than we realize.

Part time jobs fit some people’s needs; independent work rather than an hourly job will be appealing to many of you. You can be a consultant, a virtual assistant, a writer, or have your own business – online or offline, brick and mortar or virtual, free standing or direct sales through network marketing, to name a few options.

Once you have expanded your horizons about what the range of possibilities are, the challenge is to determine the best match for you. Let’s examine some possibilities.

Using your knowledge and skills to earn money

Grab your handy notebook or computer file and do the following:
Make a chart (if doing by hand) or spreadsheet (on computer) that has the following cells listed vertically in the left column:

1) Knowledge & skills acquired through your employment
2) Knowledge & skills you’ve acquired through hobbies
3) Knowledge & skills acquired through volunteer involvement and community participation
4) Knowledge & skills you’d like to acquire in areas of your interest and then share with others

Then put the following horizontally across the top of the chart or spreadsheet:

1) Ways that you could share this information (for example, teach community education classes; write books or ebooks; provide workshops, teleclasses, webinars; be a consultant; etc.)
2) Places, venues or contacts that may provide places for you to do this and earn money (for example, specific community colleges in your area, your city school district community education, your church or other churches, online publishing, online radio or podcasts, etc.)

Start with what you can think of right now and continue to fill it in and expand it as you explore more possibilities. This chart or spreadsheet can be a resource and inspiration for you for a long time.

Virtual Work

Another way to use your skills is to provide products and services from your computer that others need. You can work at home or practically anywhere you can access high speed internet. There are thousands of Virtual Administrative Assistants who provide administrative support for solo entrepreneurs and small businesses, including website construction and maintenance, online marketing and more. These can be long or short term jobs. I did support work for the church I worked for in Minnesota for a year and a half after I moved to California: newsletters, bulletins, board meeting minutes and PowerPoint presentations. There are a number of websites where you can learn more about this type of work. Search for “virtual assistant.”

Direct Sales/Network Marketing

Direct selling through network marketing has become a recognized business model that is used by many large corporations and endorsed by financial experts. It is a viable option for many people in this economy and well worth exploring.

There are hundreds of network marketing company options and it can be very difficult to decide which company to choose. One resource to assist you with this is:
http://entrepreneurs.about.com/od/networkmarketingmlm/a/10tipstopicknwm.htm

Affiliate Sales Online

Affiliate Sales basically means selling other people’s products. You can sign up for many affiliate programs, free of charge, and earn a commission for selling products that are made available through that affiliate program. This is a well-established way of earning money and you can do it in areas that are of particular interest to you. You can be an affiliate for companies that sell “hard” products – books, appliances, tools, jewelry, etc. – or information products online. There is a huge amount of information available to help you get started and be effective. You can begin with Amazon.com Associate Program. The commissions are low, but the wide range of products makes it very attractive. They provide lots of affiliate resources also.

These are some of the possible ways you can generate money to augment your income as you are transforming your retirement. As you begin your exploration, start by looking at what you enjoy doing.

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Transforming Your Retirement: What if I left a stunning legacy to my family and others?

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Most of us want to make a difference in the world; we want to leave a legacy behind. As you move toward or into this period of transforming your retirement, it is an ideal time to take time to both reflect on your life so far and look forward to what you want to add to your legacy in the years ahead.

There are different kinds of legacies, including:
1) how you are remembered as a person – your personality, the way you treated others, what people saw in you and learned from you;
2) the work you did and the impact it had on others,
3) the family you left behind,
4) contributions of time, energy, creativity and finances that enriched others, and more.

Perhaps you think it’s too late at this stage of your life to do anything about it. “Que sera, sera; whatever will be, will be.” That’s simply not true. Although you can’t go back and do things over, you do have the ability to interpret and draw meaning from your life so far and to add to your legacy. That can benefit both you and those who view you and your life now and in the future.

Perhaps you are thinking now that this seems self-centered and presumptuous. But consider this. We live in times where celebrities of various kinds have become the primary role models for many people. Our electronic media of all kinds have become the purveyors of values and significance. Too much information, much of it trivial, has blocked out the truly meaningful messages about life, contribution, family and legacy.

You have the ability and, dare I say, the responsibility to make your contribution to changing this sad state of affairs! Too many of our younger people seem to have little interest in what has happened in the past, either in the society and the world or in their own families. This should not stop us from doing our part. Each of us has a unique experience that is given to us as a gift and can be given as a gift to others.

It may be of immediate interest to your family; it may not. It may take years – even decades or centuries – for someone to sincerely look for who you were and what your life was about. If you haven’t documented that in a way that can be saved and accessed, it is lost.

I suggest that you do some legacy work, first of all for yourself – to look at this precious journey and what it has meant to you – and secondly, to influence and communicate the legacies you leave behind. It can be a significant part of transforming your retirement into a time of joy and fulfillment.

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Transforming Your Retirement: What If the Next Phase of Your Spiritual/Faith Journey is Invigorating and Joyful?

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It’s my belief that we are spiritual beings having a physical experience. Although we may experience it differently, we are all on some kind of spiritual/faith journey during our life on earth. That journey can be a key part of transforming our retirement.

As we age, we often have more questions about this journey and where it is leading. It may be that you are happily settled where you are, or you may be apathetic or bored, or you may be actively looking for something more, or you are in an expansive stage in relation to your faith/spirituality.

The first step is to get a sense of where you are and what you are thinking and feeling. Describe your spiritual/faith journey over the past 3-5 years. Consider these to help you put it together:
+ level of participation in an organized faith community, if any
+ any change in your beliefs or participation
+ any exploration of practice or beliefs outside of your particular faith community
+ any significant events, positive or negative
+ any new revelations or new questions that are significant to you                              + Gaps, emptiness or needs you are feeling spiritually

When you’ve completed the snapshot, rate your level of satisfaction with where you are in your spiritual/faith journey right now. Use a scale of 1-10, with 1 being “bored or dissatisfied,” 8 being “extremely satisfied” and 10 being “joyful and growing.”

If your ratings are between 8 and 10, congratulations! You are in a good place on your journey. And you can always expand your options and involvement if you want to be even more joyful and growing!

If you have ratings that are less than 8, I suggest that you take three additional steps:
1) Write down anything with which you are not satisfied and what’s missing that lowered your rating. This may take some reflection; take your time and perhaps come back to it later to allow some thoughts and feelings to surface.

2) Next, take some time to write down exactly what you would find satisfying and meaningful in the coming years of your spiritual/faith journey. Use the “What if….” format to create statements like, “What if I found/created a faith or spiritual community where I experienced genuine love and community?” or “What if could find ways to heal my church/religion-caused wounds from the past?”

3) After creating your list, choose the one about which you feel most strongly. Come up with some possibilities of how to make that happen, beginning now. As time goes on, do the same with the rest of your list. Enjoy some new exploration and excitement as your faith journey continues – which can be a major part of transforming your retirement.

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Transforming Your Retirement: What if You Made Significant Contributions of Many Kinds to Family, Community and the World?

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Most of us wish we had been able to do more for our family and friends than our time and resources allowed in our working years. Perhaps you have experienced, as I have, an interest and desire to get involved in and make contributions to community projects and organizations and respond to needs and issues in other parts of the world.

The first step is to look at what you really would like to contribute so that your creativity can get to work on the “how.” Let’s start with a “blue sky” step.

Write down what you would like to contribute, if there were no limitation of resources, to each of the following categories. Think in terms of time, money, expertise, and anything else you might offer:
+ to your family and close friends
+ to causes that are dear to you (specify your priority causes)
+ to your community
+ to the world

Now separate these desired contributions into two categories:
1) things you can at least begin to do with the resources currently at your disposal, and
2) items requiring additional resources.

As you look at the lists, see what excites you the most in each. Write each of them down, leaving space to brainstorm and record ideas of how to begin making that contribution as soon as possible. This is another bridge into retirement that gives you purpose and enjoyment. Think of the joy and satisfaction to be gained from your contributions in areas that you feel strongly about. This is a powerful means of transforming your retirement into a time of giving and satisfaction.

As time goes on, work more with this list – thinking of creative ways to accomplish items on your list, exploring how to secure or leverage needed resources and finding others with similar interests. One of the by-products of reaching out and making a difference is meeting new people and gaining new friends.