(by 5 people)
Retirement isn't about how much money you have--it's about finding what makes you happy--and pursuing it!
Financial security is very important after leaving the workforce, but too many of us are unhappy because we fail to take full advantage of these wonderful years. Should I retire to a golf course or run a golf pro shop? Travel to China or collect China for my home? Learn another language or teach one I already know? Rather than try to give you the answers, this lens is meant to help you find them for yourself.
For more information on non-financial retirement planning, visit our site at www.mynextphase.com. Enjoy!
Retirement Planning Checklist
A few gentle reminders as you think about your next phase.
- Figure our your financial needs. Before you can figure out what you want to do, you need to know how much money you will need to generate to live.
- Understand yourself. Retirement is not a one-size-fits all deal, so before you generate a plan you need to know what you need from your retirement. Would you rather be with people or are you more excited to "get away"? Do you need to be challenged or did you get enough of that during your working years? These are just a few of the key questions to ask yourself before starting your plan.
- Generate a list of things you might want to do after you retire. A structured approach will help you come up with things you might miss otherwise, but don't be afraid to dream.
- Run your list by family, friends, colleagues, and other people who know you well. The people closest to you can serve as a great sounding board.
- Refine you list. Take off things that are impractical, you are not passionate about, or that will be hard to change out of once you start. You want to retain your ability to change your mind at least once.
- Join a community and develop a network. Once you decide what you're going to do, make sure you have the support you need to pursue that goal.
- Track and monitor your progress. Set goals and milestones to make sure you're getting where you need to go (and are enjoying every minute of it!)
Retirement Planning
Internet resources to help you plan your retirement.
- My Next Phase
- The source for non-financial retirement planning. My Next Phase guides you through retirement planning based on your personality and helps you identify the activities and pursuits that will lead to a fulfilling transition to retirement.
- AARP
- AARP - Enhancing quality of life for all as we age. Leading positive social change and delivering value to people age 50 and over through information, advocacy and service.
- National Council on the Aging
- The National Council on the Aging, promoting the dignity, self-determination, well-being and continuing contributions of older persons through education, research, leadership and advocacy
Travel for Retirees
Interesting links for travel buffs
- Active Journeys
- Active Journeys specializes in organizing active holidays worldwide.
- Holland America
- Holland America is a leading cruise line whose activities and destinations tend to favor adults.
- Princess Cruise Lines
- Like Holland America, Princess cruise lines has activities and destinations geared towards adults.
- Seniors Home Exchange
- The Seniors Home Exchange is the only home exchange exclusively for the over 50 age group.
Required Reading for Retirement Planning
A few resources for pre-retirees
Where To Go From Here
Amazon Price: (as of 10/11/2008)
Too Young to Retire: 101 Ways To Start The Rest of Your Life
Amazon Price: $10.40 (as of 10/11/2008)
Type Talk: The 16 Personality Types That Determine How We Live, Love, and Work
Amazon Price: $10.88 (as of 10/11/2008)
The Art of Speedreading People: Harness the Power of Personality Type and Create What You Want in Business and in Life
Amazon Price: (as of 10/11/2008)
What Do You Want to Do When You Grow Up?: Starting the Next Chapter of Your Life
Amazon Price: $17.99 (as of 10/11/2008)
How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire
Amazon Price: $11.53 (as of 10/11/2008)
The New Retirement: The Ultimate Guide to the Rest of Your Life
Amazon Price: $13.57 (as of 10/11/2008)
Retirement Insights
Retirement Facts and Trends
- The average person over 50 mentally pictures themselves 15 years younger than they really are.
- Retirement as defined in the 1940's worked because 50% of the population was not expected to live past age 65. The "new retirement" issue is only an issue because of increased life expectancy. If your retirement lasts only 5 years, than leisure works. But when it lasts 25 years, it becomes a whole new phase.
- The age for retirement was set at 65 by Kaiser Wilhelm in the late 1800's. It is now generally accepted among gerontologists that life expectancy may exceed 85 years-- and may, in fact, reach closer to the biblical life span of 120.
- One of the 77 million baby boomers reaches age 50 every seven seconds. That is around 11,960 people a day and 4 million a year.
- Consumers 65 and over make up 13% of the population but account for only 2% of the characters on prime-time TV.
- The average American who retired in the year 2000 was 62 and has 20 to 22 years of life ahead of them.
