Retirement Wisdom

Retire Smarter

Retirement Wisdom

Say Hello to Your Future Self

· ·

by Bev Bachel

Actor Jim Carrey wrote his future self a $10-million check for “acting services rendered.”

Polar explorer Ann Bancroft spent her days in a walk-in freezer to prepare her future self to ski across Antarctica.

Singer Jennifer Hudson named her dogs Grammy and Oscar as a reminder that she had award-winning plans for her future self.

By focusing on their future selves and their hopes and dreams, these individuals nudged the universe in their favor, and you can, too.

You, only better.

Back when I first began thinking about retirement, I attended a presentation by Kelly McGonigal, health psychologist, Stanford University lecturer, and author of The Willpower Instinct.

During her presentation, she stressed that willpower is a competition between our present self, who acts impulsively to satisfy immediate needs, and our future self, who aspires to be better, someone who
puts our long-term well-being ahead of short-term satisfaction.

She also said that most of us, at some point, throw our future selves under the bus by giving in to what our present selves want right now. Think about it. We all know saving for retirement is important. Yet, about half of households age 55 and older have no retirement savings. [1]

And while everyone says their health is important, 70 percent of U.S.
adults are overweight, which puts both their present and future health at risk. So, how do you bring your present self into focus so you stop putting off the very things your future self will thank you for?

Here are five suggestions:

Let your mind wander. But rather than letting it run wild, put it on a leash by engaging in “positive constructive daydreaming” wherein you plan and rehearse what’s to come, concentrating on playful, empowering activities that will make your future self happy. Where are you? Who are you with? What are you doing? Why are you doing it? Add as much detail as you can.

Name yourself. On New Year’s Day 1999, I attended a “nudge the universe” workshop with two friends. As part of the workshop, we were asked to choose a new name for ourselves that reflected our dreams for the new century. I chose Author Artist, and within 12 months I had signed a contract for my first book.

Solicit input. Ask friends, family, and colleagues what they imagine your future self doing in the years and decades ahead. Do they see you continuing to live in your current home, downsizing to a smaller place, or adding a second home in a different climate? Or perhaps they envision you transitioning from full-time to more flexible work options before you retire completely, or giving up your career altogether in favor of a long-held dream such as becoming a graphic novelist or joining the Peace Corps.

Rethink what you own. We are what we wear, but so often our clothes reflect who we used to be, not who we want to become. And sometimes the homes and possessions that once brought us joy become burdens. One easy way to start letting go of your past self is by asking, “Is this something my future self would wear, own, or enjoy doing?” If not, let it go.

Create a vision board. What do you want your life to be like in the next three to five to 50 years? Cut out words and images from magazines that capture your vision and glue them on poster board. Then, put your vision board where you’ll see it often, ideally each morning when you wake up and each night before you go to bed. Or, create a for-your-eyes-only vision board on Pinterest.

A picture worth 100 years

If you’re looking to have a bit of fun with your future self, try out AgingBooth, a free app that enables you to instantly see what you might look like 10, 20, even 50 years from now. Although the aged photos the app generates are for “entertainment purposes only,” seeing yourself aging well (or looking like hell?) at 75, 85, or 100 may motivate you to do just what McGonigal advises: take better care of your self today.

And for that, your future self will thank you.

Bev Bachel is a freelance writer and the author of  What Do You Really Want? How to Set a Goal and Go for It! A Guide for Teens. She pictures her future self living in Paris.

[1] https://www.thebalance.com/average-retirement-savings-by-age-4155888

____________________________

Related Podcast Episodes You May Like

Design Your Life and Get Unstuck – Dave Evans

With the Freedom to Retire, Where Will You Plant Your New Tree? – Don Ezra

How to Get Back on Your Feet After Losing Your Job Due to Covid-19

· ·

by Artur Meyster

Losing your job at any point can feel as if everything has fallen out of place and leave you wondering about the future. These feelings are only exacerbated by the current pandemic and millions of Americans have lost their jobs. In fact, a study from the Wall Street Journal found that around 30 million positions were removed from payrolls during the pandemic.

As all of these workers become displaced and struggle to get back on their feet, there are a few things anyone can do to help this process go faster should you find yourself in the same situation. There is one thing that should be done before even considering a new course of action, however, and that is to breathe. If you have lost your job due to Covid-19, just know that you are not alone.

Develop Your Skills

Regardless of which occupation you held before the onset of the pandemic, it is important to brush up your skills as you go out looking for jobs. It’s not about acquiring every skill under the sun, but rather obtaining the most relevant and useful skills for the future of work. Harvard performed a research study centered around the emergence of the fourth industrial revolution, which essentially predicts the takeover of technology.

In this study, they cover some of the skills that will be necessary for surviving in this future of work. Digital literacy and computer skills were at the top of that list, but the general underlying trend was skills surrounding technology. Humans will still be required in most fields and industries, but their day-to-day tasks will change.

To that end, identifying some of the top computer skills looked for by recruiters is a great way to figure out your next steps. Most of these skills can be developed from the comfort of your own home and through other resources, but acquiring these skills will be the key to setting yourself up for a long-lasting career in the future of work.

Attend a Tech Bootcamp

As mentioned, some of the top skills above can be self-taught, but others require a more extensive learning experience. For some people, it may be beneficial to attend a tech-based bootcamp that can prepare you with all the skills you need to go into a certain tech career.

In the past, trade schools and bootcamp educational styles were passed over for traditional college experiences. However, tech is changing the workforce faster than anyone expected and the rigorous four-year educational paths that used to be required for some fields have been dropped. For example, data science has been growing at a rate of 6.5 times the normal rate according to LinkedIn. This is a field that used to require a master’s degree, but the demand for data scientists has increased so much in recent years that graduates of top data science bootcamps are being sourced and hired.

The demand for tech-based jobs is going to increase so much in the next few years that pursuing a quicker educational path than a graduate program and launching a new career may be in your best interest after losing your job due to the pandemic.

Reflect on Your Career and What You Want to Do

Sometimes, the hustle and bustle of life can take over and distract your mind from the fact that your career really wasn’t right for you. Look back on the job you previously held and determine if you really enjoyed what you did. If so, consider yourself lucky as a large number of Americans typically don’t enjoy their work.

If you fall into the category of those who weren’t completely satisfied with their career, then take a look at some of the popular reasons for leaving a job and see if any of your sentiments line up. At the end of the day, losing your job due to this pandemic may be a blessing in disguise that frees you up to pursue a new passion.

Try to identify your unique skills and see if they are applicable to any emerging fields. Online Degree Hero has great resources and information on a number of tech-based fields that could capture your interest now that you are back in the job-hunting market.

Take Charge

Truthfully, the most important thing to do after losing your job due to Covid-19 is to take charge of your future. The reality is that you have lost your job during a time of massive disruption in the workforce. While the disruption has been accelerated due to the pandemic, traditional jobs were already starting to fade in favor of tech-based careers. There’s no sure-fire way to land a new job right after losing yours due to Covid-19. However, you can set yourself up to have a better chance in the future by taking certain actions today.

Artur Meyster is the CTO of Career Karma (YC W19), an online marketplace that matches career switchers with coding bootcamps. He is also the host of the Breaking Into Startups podcast, which features people with non-traditional backgrounds who broke into tech.

____________________________________

Related Podcast Episodes You May Like

How to Make a Wise Career Switch – Dawn Graham

Will Your Second Act Career Be In The Gig Economy? – Diane Mulcahy

What Will You Do When You’re Formerly Corporate? – Lorette Pruden

Stretching Out of Your Comfort Zone

· ·

By Bev Bachel

From graphic designer to children’s book author.

From Fortune 500 consultant to product developer.

From mental-health therapist to organic bread baker.

These are just some of the ways people I know have stretched out of their comfort zones in recent years. Some of the stretches were intentional, such as a move from full-time work to part-time or even into retirement. Others were made on the way to finding a more fulfilling life purpose or by finally going for a long-held dream. Still, others came about as the result of outside forces: the loss of a job, the failure of a business, a divorce, or the death of a close friend or significant other.


But what all these stretches have in common is that they took the “stretchers” out of their existing comfort zones and brought them face to face with what Brené Brown calls the FFTs: the “f#!%ing first times.”


In the inaugural episode of her new podcast, “Unlocking Us,” Brown describes the FFTs as the awkward and sometimes incredibly uncomfortable feelings that arise whenever we try to do something for the first time. But just because doing something new feels uncomfortable, doesn’t mean it’s not worth doing. In fact, overcoming inertia and getting outside our comfort zones may hold the key to fulfillment as we transition into retirement.

One Stretcher’s Success Story


Having spent 30 years as a broadcast journalist, Cathy Wurzer is comfortable being center stage. She hosts Minnesota Public Radio’s “Morning Edition” and co-anchors a Twin Cities Public Television news program. But in 2016, when she decided to launch the nonprofit End in Mind Project, she quickly found herself stretched outside her comfort zone. “I was used to delivering the news,” says Wurzer. “But now I was trying to get people to talk about a topic many consider taboo.”


The topic? Death and dying.

“Not only was everyone else uncomfortable with it, so was I,” says Wurzer. But she didn’t let that stop her. Instead, she used on-air conversations with a dying friend as the impetus for live events, workshops, a podcast, and more, all of which required Wurzer to learn new skills—everything from hiring staff for her new nonprofit to managing volunteers to event planning to advertising and social media. “I had no idea how much I had to learn,” says Wurzer. “It’s been like drinking from a firehose, but it’s also been personally rewarding.”


Now that her nonprofit is up and running, there’s something new that’s putting Wurzer through the FFTs all over again: fundraising. “When you launch a nonprofit, the one thing you have to get comfortable doing is asking for money,” says Wurzer. “It’s not easy, but if you aren’t willing to ask, you’ll never make it.”


Five tips to help you stretch

Whether you, like Wurzer, are considering launching something new or are just inching yourself closer to the retirement of your dreams, here are five tips to help you s-t-r-e-t-c-h out of your comfort zone and get comfortable with the FFTs:

  1. Craft a few experiments. You don’t have to quit your job or sell your house to take a big leap outside your comfort zone. Instead, come up with some ways to get your feet wet. For example, if you’re getting ready to retire, volunteer, enroll in a course, attend a conference, take a sabbatical, or ask your boss for more (or less) responsibility. You might even consider taking your retirement for a test drive.
  2. Use your imagination. Research shows that our brains don’t differentiate between imagining doing something—delivering a TED Talk, for instance—and actually doing it, so amp up your confidence and your skills by engaging your imagination. Where are you? Who’s with you? What are you doing? What do you see, hear, and feel? How are others responding to you?
  3. Lower your expectations. When you first try something new, chances are you won’t be very good at it. That seems obvious, right? But it’s amazing how many of us let the fact that we’re “all thumbs” or “have two left feet” get in the way of trying new things.
  4. Check your ego at the door. Acknowledge that you don’t have all or even most of the answers, and you’ll find it easier to embrace the FFTs and stretch out of your comfort zone.
  5. Ask for help. Don’t carry the ball all by yourself. Instead, let other people help you get where you want to go by expanding your network to include people who are both younger and older, as well as those who have had different life and career experiences.

Bev Bachel is a freelance writer and editor, and the author of What Do You Really Want? How to Set a Goal and Go for It. She’s stretched out of her comfort zone and conquered the FFTs to attend water aerobics and deliver keynote speeches.

________________________________

Related Retirement Wisdom Podcast Episodes

Take the Detour – A Second Act Career Story – Melissa Davey

Are You Thinking About Going Back to School in Retirement? – Nell Painter

How Life Hacks Can Help Make Your Retirement the Best Time of Your Life – Sam Horn

Not Exactly Retired – David Jarmul

If You Love Your Work, What Challenges Will You Face in Retirement? – Michelle Pannor Silver

The Coronavirus Is Scrambling Retirement, But There Are Ways to Move Forward

· ·

Retirement Wisdom’s Joe Casey is quoted in this piece by Patrick Hruby for The Atlantic’s Re:think series sponsored by Equitable on how the pandemic is affecting retirement planning

This article originally appeared in The Atlantic

Visit When Tomorrow Becomes Today, Atlantic Re:think and Equitable’s series of stories that shed light on planning for retirement and the unexpected, and finding new ways to thrive in uncertain times.

One Family’s Return to Intergenerational Living

· ·

By Bev Bachel

As you head into retirement, one of the biggest decisions you’ll have to make is where you are going to live. Many opt for retirement communities but increasingly people are choosing to live with younger members of their own families.

According to Marc Freedman, founder of Encore.org and author of How to Live Forever: The Enduring Power of Connecting the Generations, that choice could be the secret to fulfillment and happiness as we live longer lives.

But intergenerational living doesn’t just benefit those in retirement; it benefits family members of all ages. That’s why Robert and Kay Joslin are so delighted to be reunited under one roof with their daughter Jamie and her young family.

Together for the good of all

For the Joslins, intergenerational living is nothing new. They’d done it years ago with the generation before them.

“Kay’s dad had polio in the 1950s and was in a wheelchair most of his adult life,” explains Robert. “When Kay’s mom had a stroke, we all agreed it was time for the two of them to come to Texas and live with us and our daughter Jamie, who was 10 at the time.”

So, Robert and Kay designed and built a home where all three generations could live together. Kay, who had already left her career as a petroleum engineer, was the primary caregiver for her parents and Jamie, while Robert continued to work full-time.

“That experience was invaluable,” says Robert. “It taught us all the value of different perspectives and about the importance of respect and understanding.”

But eventually Kay’s parents died, Jamie moved to Minneapolis to attend college, and Robert and Kay became empty nesters.

Full circle

Fast forward 10 years. By then, Jamie was married to Randy Millard and living in Minneapolis. When the couple announced their pregnancy in 2014, Robert and Kay decided it was time to join them. In less than 10 weeks, they sold their Texas home and bought a new one just a mile away from Jamie and Randy.

Shortly after, Kay once again became the primary caregiver, this time for her granddaughter Robin, while Robert, Jamie and Randy worked full-time. And while they hadn’t had any serious conversations about when they would merge households, all four were certain it would happen … someday.

That day came sooner than expected when Jamie, at 31, was diagnosed with Rheumatoid Arthritis the same month she learned she was pregnant with her second child.

“We always knew our two families would live together, but after Dani’s birth there were days when I couldn’t even change a diaper or button the girls’ clothes, so our ‘someday’ plan became a two-year plan.”

The four adults discussed what they wanted and needed in their new shared home. Jamie and Randy both needed offices, while Kay insisted on a walk-out basement, ideally with a kitchenette so that she and Robert, both early risers, could enjoy a cup of coffee without disturbing other family members.

Robert even created a spreadsheet to help each person prioritize what was most important to him or her.

A smart financial decision

One of their first, and most important, steps was meeting with a financial planner. “We knew our goal of living together would never work if we couldn’t talk candidly about money, including how much we make and how we hope to spend it,” says Robert, who still works full-time.

“We are also very clear that it’s not the Joslin’s money or the Millard’s money, but our money.”

That’s one reason why, when they purchased their new home, all four adults put their names on the home’s title. It’s also why they continue to talk openly about what aging well means to them, as well as their goals, including financial independence.

“Buying a house together was definitely a smart financial decision,” says Jamie. “Daycare for two kids costs $24,000 to $30,000 a year. And if my mom and dad had to move into an assisted living facility, that would cost another $5,000 a month—for each of them.”

Family time is priceless

While the financial benefits of living together are huge, it’s the ordinary, everyday moments that everyone appreciates the most.  

“I got off a conference call the other day and walked out of my office to find my dad playing Monopoly with my daughter Robin, while Dani sat in her highchair watching,” says Jamie. “I could have cried! They were playing with the exact same set my grandparents and I used to play with when I was a kid. Seeing that brought back a flood of memories and made me realize just how blessed my family truly is.”

Of course, there are challenges. “Yeah, we fight,” says Jamie. “Yeah, there’s tension. But the positives definitely outweigh the negatives. For instance, the girls are learning that there’s not just one way of doing things but multiple ways.”

Robert agrees: “Things were great before we moved in together, and they’re even better now that we’re once again a three-generation household raising a family, cooking and gardening together, sharing childcare, pooling our resources and making memories that will last a lifetime.”

Bev Bachel is a freelance writer and the author of What Do You Really Want? How to Set a Goal and Go for It! A Guide for Teens. As a child, she enjoyed having her grandmother live with her family most winters.

__________________________________________

Related Podcast Episodes You May Like

Why People Make a Career Change with Purpose Top of Mind – Chris Farrell

The Exciting Potential of Intergenerational Mentoring – Charlotte Japp