Retirement Wisdom

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Career and Work

Seven Practical and Emotional Benefits of Decluttering

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By Bev Bachel

A stack of handwritten letters and dozens of unsent postcards. Six water bottles. My high school yearbooks. Three plastic bins full of receipts. A still-in-the box bike helmet.

This is just some of the clutter I can see from where I sit at my computer. All of it used to be neatly stored in my basement … until I decided it was time to finally face the boxes and cabinets of stuff I’ve accumulated during the 30+ years I’ve lived in my house.

Unfortunately, my clutter-clearing attention span lasts about a nanosecond. So, for motivation, I reached out to three individuals who have succeeded at paring down their stuff and an expert “clutter clearer.” Though they each call it something different—decluttering, weeding out, purging, Marie Kondo-ing—they’ve all come to appreciate the benefits of owning less.

 

Home sweet sailboat

Within the next few years, Carol Rogers expects to retire, sell her 2,000-square-foot home in Arlington, Virginia, and move to a sailboat. While she will eventually need to say no to just about everything she owns, she is currently focused on letting go of whatever seems right at the moment.

A few months ago, for example, she gave away an extra set of dishes and some pots and pans; over the past few weeks, she’s filled four boxes with books to donate. While she knows purging is a must, letting go of her possessions isn’t always easy.

“Where I get especially nostalgic is my art, which includes framed photos I’ve taken and treasured paintings by my friends,” says Rogers. “But what am I going to do with them? I can probably take one to the boat and maybe hang on to a few for the small cabin my partner and I might one day own. The rest has got to go.”

 

Curating their way to less

In preparing for retirement, John Capecci and Rob Kirby recently sold their three-bedroom Victorian home and moved into a 950-square-foot apartment just a few blocks away. In the process, they sold or gave away hundreds of items, including many they considered prized possessions—at least at the time.

One thing that made it easier to let go was viewing themselves as curators of their belongings. “We got to choose our very best stuff,” says Capecci. “It was an easy decision, for example, to lose the Ikea bookshelf and hold onto the Danish teak hutch. Now, even though we have less, our apartment feels like an upgrade.”

And while parting with prized possessions was difficult at the time, neither man has missed anything. “We can barely remember what we got rid of,” says Capecci.

 

Benefits of conquering clutter

Whether you’re a packrat or a minimalist, retirement and the years leading up to it are the perfect time to inventory your possessions, determine what to keep and begin letting go of the rest.

Here are seven practical and emotional benefits of doing so, according to Lori Koppelman, a “clutter clearer” and host of Clutter Chronicles, a podcast that features interviews with Mary (last name withheld upon request) who calls herself a “recovering hoarder” and admits to having an “unusual relationship with stuff”:

 

1. More free time. The less cluttered your living space, the quicker and cheaper it is to clean and the more easily you can find things.

 

2. Money saved. With fewer belongings, you know exactly what you have so you don’t end up buying duplicates. Plus you spend less money maintaining and repairing your possessions. And when you have less, you need less … including less storage space which, at a monthly average cost of $91, adds up to more than $1,000 annually.

 

3. Amped up self-esteem. Clutter can gut your self-worth and keep you from going for your goals by anchoring you to the past. Clutter can also negatively impact your relationships with family and friends as you may shy away from inviting them over.

 

4. Time to enjoy the present. When you don’t have to spend time cataloging old photos or sorting through the mountains of paperwork that’s accumulated since you graduated from high school, you’re able to enjoy life in real-time.

 

5. Open up opportunities. When you’re not weighed down emotionally and physically by your stuff, you have extra energy to take seize new opportunities.

 

6. Find your purpose. Rather than dealing with your stuff, you can spend your time on activities that give your life meaning—and make a difference in the lives of others.

 

7. Bequeath your legacy. Once you’ve eliminated your clutter, you can more easily assess what you own, what’s of financial and sentimental value and to whom you’d like to pass it on.

 

A strategy for success

If you’re struggling with clutter, Koppelman recommends the three-box method. Grab three boxes, pick a drawer, a closet or a room to tackle and set a timer for 15, 30 or 60 minutes. Go through your belongings and put them in one of these three boxes:

• Trash what is broken, unusable or has lost its significance
• Donate or sell what has value
• Giveaway or return to family and friends

Emotions can be clutter, too
While you’re at it, don’t forget to deal with your emotional clutter as well. “Unfinished business, strained relationships, hurt feelings, lingering regrets and unresolved guilt can all get in the way of enjoying life after retirement,” says Koppelman. “In fact, forgiving yourself and others can be the ultimate act of letting go—and perhaps the exact thing that truly sets you free.

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. A lifelong goal-setter, she’s tapped into the power of goal-setting to learn Spanish, walk 10,000 steps a day and raise money for causes she cares about. One of her clutter-related goals? Give away the kitchen appliances she no longer uses.

 

Podcast Episodes You May Like

Design Your Life and Get Unstuck – Dave Evans

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

We’re All Ageing. Are You Up for a Bolder Approach? – Carl Honoré

Is It Time to Break Up with Busy? – Yvonne Tally

 

More Posts from Bev Bachel

Three Mindfulness Practices to Try Before You Retire

Power Up Your Purpose: Now’s The Time

Your Greatest Retirement Asset Could Be Your Attitude

 

An Article You May Be Interested In

Marie Kondo’s strategy for finding joy at home during the coronavirus quarantine

 

Hiring Older Workers: Reasons To Close The Gap

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By Susan Williams

We are currently experiencing a labour shortage in North America.

In the US, there are now more jobs than people looking for work and this situation is no different in Canada.

If you think this is a good thing unfortunately this isn’t necessarily the case. If left unchecked for too long, this situation could have a significant impact on the economy. This is because labour shortages can drive up wages as businesses compete to try and fill their vacancies. When the wages are increased, this also then increases the cost of products and services which then can turn into increased inflation rates.

But there may be some specific implications in this situation when it comes to older workers.

First the good news.

There are many people planning on working past the traditional age of retirement and this could be a really good thing to help in this situation. In fact, according to the Retirement Confidence Survey published by EBRI (Employee Benefit Research Institute), 8 in 10 workers believe they will work for pay in retirement.

Now for the bad news.

Out of these possible 8 workers that want to work for pay in retirement, they discovered only 3 actually do.

So we have a gap – and it’s a significant one for both businesses and workers.

If I was to do some very basic math, there are an estimated 10,000 baby boomers in the US crossing over into retirement age everyday. This represents approximately 3.65 million workers a year. So if 80% of these people would like to work longer and yet only 30% actually do, that would mean there is potentially a workforce each year of approximately 2.04 million people that may be going untapped.

But businesses need to be engaged and actively looking at this opportunity if they want to tap into these resources. But unfortunately, some companies current ageist attitudes are stopping them from doing this.

Harvard Business Review conducted some research with 10,000 companies and this is what they discovered;

“Over two-thirds of the companies considered older age a competitive disadvantage. This is consistent with data from the AARP that shows two-thirds of individuals age 45 to 74 have experienced age-related discrimination. In other words, if you are older, you are likely to be considered less capable, less able to adapt, or less willing to roll up your sleeves and do something new than your younger peers.”

But these aging stereotypes are so wrong. As I shared in a previous post concerning the developing issue of a gray ceiling for older workers, older workers actually;

  • help organizations stay more productive
  • contribute skills and experiences that can’t be developed overnight
  • stay with organizations longer then their younger colleagues
  • and to many people’s surprise are actually quite technically savvy

Along with not offering employment opportunities, many employers are also not supporting the development of older workers skills as well.

HRD (Human Resources Director) shared some research that they recently conducted with 1,000 employees in the United States. What they discovered was that “60 % of Baby Boomers feel insecure about their current skillsets, and 73% say their employers don’t help them identify the skills they need to develop for the future.”

So in a nutshell – here’s the gap we need to close;

Businesses need workers. Would-be retirees would like to work. It’s doesn’t seem that complicated to me to have some discussions and figure out some creative ways to do this – and do it well.

Flexible work options, offering interesting work and assignments, the chance to mentor employees are all just some examples of some ways to leverage this available talent. I think it’s just a matter of putting aside some outdated ideas and thinking and moving progressively forward into the future – for everyone’s benefit.

 

This article originally appeared on Booming Encore and was reprinted with permission.

Susan Williams is the Founder of Booming Encore – a website and social media network dedicated to providing information and inspiration to help Baby Boomers create and live their very best encore. Being a Boomer herself, Susan loves to discover ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and personally tries to embrace Booming Encore’s philosophy of making sure every day matters. For daily updates to help you live your best encore, be sure to follow Booming Encore on Twitter and join them on Facebook.

 

Lessons from Kobe Bryant’s Life After Retirement

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By Joe Casey

Remember Kobe Bryant’s retirement? It didn’t take long, but he was thriving in life after retirement. He was passionate about his second career in retirement. And he had already won an Oscar.

You’ll always remember where you were when you heard the news. And again later when you heard that his 13-year-old daughter was aboard the helicopter as well. Kobe Bryant dead at 41. Nine lives were lost and many families devastated.

We were in Boston, my hometown, visiting our oldest daughter who lives there now and with our son on a college visit. (Yes, I am writing this as a lifelong Celtics fan). It did not seem real at first. It took a while to process. So shocking and so very sad.

More Than a Basketball Icon in His Life After Retirement

Reading the reactions from those who knew him painted a picture of his life and who he was.  An iconic NBA player. A father of four daughters. A Valued Mentor. A Creative Person. An Entrepreneur after his retirement from the NBA in 2016.

He leaves a compelling legacy after a short life. The high-flying lifestyle of a recently retired top-flight professional athlete may not seem relatable, at first. Agents and other handlers. The astounding levels of wealth created.

Kobe with was blessed extraordinary talent and physical gifts that provided a foundation for success. Beyond his talent, Kobe Bryant’s story, which ended far too soon, was rooted in an exceptional drive and work ethic. But tragedies like this one remind us that they are indeed still human and mortal, just like the rest us.

Reflecting on what I’ve read and heard in the aftermath of this terrible accident, I’ve noticed Kobe Bryant’s life offers some valuable reminders about life after retirement:

 

Plan for Life After Retirement – But Live Fully Now

Make no mistake. It’s essential to plan for retirement. You need to establish a level of financial security and a degree of certainty for the future. And it’s wise to plan for what’s next and what you want to do in your life after retirement. But it’s easy for the discipline it takes to retire well to become an obsession. Planning for retirement includes a mindset of sacrificing today to invest for the future. Be mindful to strike the right balance. Figure out how to live fully in the now as well. As hard as you may try you can’t plan for every variable. Don’t create regrets.

Be Multidimensional

Kobe was definitely one of the most intense and disciplined pro athletes of all time. But there were more sides to him than his obsession with and success as a basketball player. Because he spent years as a child in Europe, because of his father’s pro basketball career, he became multilingual, becoming fluent in Italian and Spanish as well as English. He also cultivated interests beyond basketball, creating a foundation for a robust second act career. What are your interests outside of your professional life?

Create a Second Career

Following his retirement from the NBA in 2016, Kobe Bryant quickly built a thriving second career based on his variety of interests. He started an interesting series on ESPN+ called Details breaking down key players and games in-depth from his experience and perspective. Notably, he created a production company, Granity Studios. He developed a short film “Dear Basketball” that won an Academy Award in 2017. Since then, he created a series of books for children, The Wizenard Series, designed to inspire kids.

What could a second act career possibility be for you? Are there skills and interests that you could leverage in your life after retirement? It may not be a production company, but it might be something you could do part-time that fits with your vision for your life after retirement.

Focus

Kobe Bryant was extremely driven and ambitious. When you look back at the entirety of his basketball career and his post-retirement pursuits, his ability to intensely focus on what he wanted stands out.

What’s next for you? What can you focus on now that will help you be better prepared for your future.

 

Mentor Others

The outpouring of emotion following his sudden death including a tsunami of messages and stories form NBA players past and present. It was instantly clear the impact that Kobe had with teammates and peers. It was also abundantly clear that many of today’s NBA players had idolized him growing up and he was their hero. The stories emerged about how many younger players he had mentored, trained or supported. Here’s one small example of support following Gordon Hayward’s serious injury on the opening game of 2017.

Who are you taking under your wing? Keep an eye out for opportunities to help people learn from what you know.

Mentor someone and pass along your experience and wisdom. it can make a big difference.

Think about this life lost too soon.

Honor his legacy by applying one of the many lessons he leaves behind.

 

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them discover and design what’s next after their primary career.  He’s the host of The Retirement Wisdom Podcast talking with authors, experts and retirees pursuing interesting Second Acts who share their lessons learned that can help you in your journey.

 

What Age to Retire At? Look Beyond the Money

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By Retirement Wisdom

Deciding what age to retire at goes beyond your financial planning. To retire smarter, it’s wise to evaluate non-financial factors, such as longevity, part-time work, social connectivity and purpose. Retirement today is often much longer period of time than it used to be. So, you’ll want to factor in how you envision making the most of that time. When you consider what specific age to retire at in your particular case, certainly focus on financial security, but be sure to develop a vision of what your life in retirement will be like.

Here are some data points on retirement to help you balance your retirement planning and retire smarter:

What age to retire is typical in the US?

 The median age of retirement is 62, according to the Employee Benefit Research Institute. Notably, workers surveyed reported (as they have consistently over the years in this annual survey) that a median expected age of 65. That gap between expectation and reality highlights the importance of including a back-up scenario into your retirement planning. 43 percent of retirees surveyed reported that they had left the workforce earlier than planned.

Source: 2019 EBRI/Greenwald Retirement Confidence Survey

How long does the average retirement last?

According to the Center for Retirement Research at Boston College, in 2020 the average retirement is expected to last 20 years – up from 13 years in 1960 and 18 years in 1990. (While that underscores the importance of saving and investing wisely to fund that, it also is a reminder to plan for how you want to invest your time. Most people find that it is not a twenty-year vacation.) When thinking about what age to retire at, include a projection of how long your retirement is likely to last. Here’s a highly regarded longevity calculator that can help.

Source:  https://crr.bc.edu/data/average-years-in-retirement-1962-1950/

Why do people work past the “traditional” retirement age?

While financial need is a driver for many people, non-financial considerations lead people to want to work longer. Work offers many benefits beyond a paycheck. A survey of 14,400 workers and 1,600 retired people in 15 countries found that 56 % cited wanting to stay active and keep their brain sharp – and 38% explained that they simply enjoy their work. When contemplating what age to retire at, think about what role, if any, work will play for you. Many people conclude that they’re not done yet. In fact, studies show that about 1 in 5 un-retire within the first five years.

Source: Successful Retirement – Healthy Aging and Financial Security, Aegon Retirement Readiness Survey 2017.

Work in retirement. Isn’t that an oxymoron?

Actually, it’s a growing trend. 80% of workers in the 2019 Employee Benefit Research Institute/ Greenwald Retirement Survey say that they plan to work for pay in retirement. Financial interests are one reason, but more people cite wanting to stay active (91%) and because they enjoy work. However, there’s a notable gap. Only 28% of retirees report that they actually are working. Ageism is one factor. However, other surveys indicate that most people aren’t keeping their skills up to date or preparing for work in retirement.

Sources: 2019 EBRI/Greenwald Retirement Confidence Survey, (2019). 19th Annual Transamerica Retirement Survey of Workers

  

Isn’t it very difficult to work longer today, especially given the prevalence of ageism?

Ageism is certainly a reality and a hindrance to working longer. On the other hand, labor market demographics offer some promise for older workers. According to the Bureau of Labor Statistics, workers 65 and older is the fastest-growing segment of the workforce in the US. By 2022, the Bureau projects that workers 55 and older will make up 26% of the US workforce.

Source: (2017). Tossi M, Torpey E. Older Workers: Labor Force Trends and Career Options. Washington, DC: US Bureau of Labor Statistics, Washington,
DC.

How many people currently working have developed a formal plan for retirement?

Only 16 percent of workers globally have a written plan for retirement (28 percent U.S.). Globally, only 35 percent of workers have a backup plan to provide an income in the event they are unable to work before they reach their planned retirement age (41 percent U.S.).

Source: (2019). 19th Annual Transamerica Retirement Survey of Workers

Do men and women describe retirement differently?

 A 2018 survey of 990 adults in the US, by Chaiwoo Lee & Joseph Coughlin of the MIT Age Lab, found that men frequently used words consistent with views of a traditional retirement, perhaps influenced by decades of financial services ad campaigns and media reports on retirement life. Men cited words such as “travel”, “hobbies”, and “relax”. In contrast, women frequently used words such as “calm, “time”, and “peace”. The authors note that the words used to describe retirement were rather limited. In their view, the word choices indicate that there is a lack of a clear vision of what life post-career looks like.

Source: Lee, C., & Coughlin, J. F. (2018). Describing Life After Career: Demographic Differences in the Language and Imagery of Retirement. Journal of Financial Planning, 31(8).

Is retirement lonely?

It can be. There are a few data points to consider on why planning for the social side of retirement is important. One study found that the average amount of time spent with friends and family declines as we age and the average time spent alone increases. At 35, there’s an average of 4 hours per day spent alone which increases to 6 hours in the late 50s and to over 8 hours a day in the late 70’s.

Loneliness, including feeling a lack of companionship or feeling socially isolated, has major implications for the health of older adults. In October 2018, the University of Michigan National Poll on Healthy Aging asked a national sample of adults age 50–80 about their social connectivity.

One in three respondents (34%) reported feeling a lack of companionship (26% some of the time, 8% often) and 27% reported feeling isolated from others (22% some of the time, 5% often) during the past year. If you want to retire smarter, keep social connectivity on your radar.

Source: (2018, November 23). The Wall Street Journal 

Why is purpose important in retirement?

People transitioning to retirement often feel a loss of purpose, since that is often derived from the workplace. Discovering a new purpose in retirement is vital. A 2019 study by the University of Michigan of 6,985 adults 50 and older found that “people with a greater sense of purpose live longer. Having a strong sense of purpose in life leads to improvements in both physical and mental health and enhances overall quality of life.” When we’re immersed in our career, our purpose is clear. To retire smarter, think about what your purpose in retirement could be.

Source: Alimujiang, A., Wiensch, A., Boss, J., Fleischer, N. L., Mondul, A. M., McLean, K., … & Pearce, C. L. (2019). Association Between Life Purpose and Mortality Among US Adults Older Than 50 Years. JAMA network open, 2(5), e194270-e194270.

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At Retirement Wisdom, we help people retire smarter by planning for the transition to retirement on the non-financial side.

We help people create second careers with purpose or design a new “portfolio life” of meaningful activities. Make your next chapter the best one yet.  Schedule a free consultation.

Listen to our podcast where we discuss the non-financial side of retirement with authors, experts, and interesting retirees who are living their next chapters.

What An Elite Athlete’s Early Retirement Teaches You About How to Retire

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by Joe Casey

 

Can an elite athlete’s early retirement give clues on how to retire?  I woke up extra early on Sunday morning and was surprised to learn that Andrew Luck, the quarterback of the Indianapolis Colts had suddenly announced his retirement the night before. At age 29. News of his retirement leaked on Twitter during the team’s preseason game. Instead of informing his teammates after the game as planned, Luck held a hastily arranged press conference, which was originally targeted for Sunday. His press conference was emotional and heartbreaking at times as he explained what was the “hardest decision of his life”.

Luck explained that he was worn down by the repetitive cycles of injury and rehab over the past four years. He concluded that it was preventing him from living the life he wanted to lead.

“This is not an easy decision. Honestly, it’s the hardest decision of my life. But it is the right decision for me. For the last four years or so, I’ve been in this cycle of injury, pain, rehab, injury, pain, rehab, and it’s unceasing, unrelenting, both in-season and offseason, and I felt stuck in it. The only way I see out is to no longer play football.”

There has been a range of reactions. Luck was soundly booed by Colts fans as he left the field. One sports commentator tweeted that “Retiring cause rehabbing is ‘too hard’ is the most millennial thing ever”.

At first blush, the early retirement of an elite highly paid athlete may not appear to have much relevance to your retirement planning. Upon further review, these seven lessons can leave you better positioned for your own retirement decisions:

 

Know When It’s Time to Retire

 

In the NFL, a top quarterback who’s 29 and about to turn 30, is in the prime of his career. But Tom Brady aside, NFL careers are remarkably short, lasting 3.3 years on average; 4.4 years for quarterbacks; and 11.4 years for players with at least one Pro Bowl appearance, according to Statistita.com. Luck played 6 seasons with one season missed completely due to a shoulder injury. Think about what the equivalent would be in your profession.  For many professions, this would be like retiring in your early 40’s.

Luck spoke about the clarity he reached in considering his decision. In pondering his future, he considered the physical and mental toll his job was taking. Luck shared that his injuries had created a vicious cycle: “I’ve been stuck in this process. I haven’t been able to live the life I want to live. (It’s) taken the joy out of the game”. These are two useful things to consider. Do you still love what you do? What’s the toll your job is taking?

 

Be Prepared to Retire Earlier Than Expected

A sizeable percentage of people are forced to retire early for health reasons or to care for a family member. According to surveys by the Employee Benefit Research Institute, 48 percent of retirees leave earlier than planned. It’s wise to factor this into your retirement planning so you have the flexibility to retire due to unforeseen circumstances beyond your control.

 

Can You Leave Money on the Table?

In Luck’s case, he’s earned over $80 million in his career. While that’s not relatable, everything is ultimately relative. Deciding to retire early in any profession means that you’re walking away from a projected future income. There are certainly many things that are more important than money and health tops the list. Is your financial planning positioning you to walk away when you decide it’s time?

 

Have Aspirations Beyond Work

Luck has a degree in Architectural Design from Stanford and has shown many interests outside of football, including my personal favorite, the Andrew Luck Book Club. If you’re still working, dedicate some time to personal pursuits outside of work. The ‘all-in’ work culture today makes this challenging, but you’ll be glad that you did.

 

Cherish Work Relationships

I was struck by how Luck talked about his past and present teammates, highlighting their working relationships, shared struggles, victories, and friendships. It was a reminder of how important workplace relationships can be – and a reminder of how they’ll need to be cultivated and often replaced in retirement. I was most impressed by how many people in the Colts organization he spoke about and thanked, at all levels from the owner to the equipment staff. It’s a good note to keep in mind when you’re planning to retire.

 

Embrace Uncertainty

It doesn’t appear that Luck has a specific plan for what’s next, which is not uncommon for early retirees. There’s already speculation that he may unretire, as approximately 25% in the “real world” do.  In the immediate term, he intends to focus on getting his body and his health right. He stressed that he and his family love living in Indianapolis and see it as their home. He talked about how unsure he was about being around the team as he worked on his rehab at the Colts facility.

Many people want to focus on wellness following a stressful and strenuous career. The key takeaway is to become comfortable with uncertainty and focus on the immediate next steps and build your next chapter one step at a time.

Have the Courage to Embark on a New Chapter

It takes a lot of courage when you’re at the top of your profession to make the call to walk away early. Andrew Luck displayed the courage to focus on his true priorities and move forward. There will undoubtedly be many adjustments and opportunities ahead.

 

I applaud Andrew Luck’s thought process and admire his decision.

 

Joe Casey is a former senior HR executive at Merrill Lynch, who’s created a second career as a retirement coach. He holds a Masters in Gerontology from the University of Southern California and, as a retirement coach and Designing Your Life coach, he helps people discover What’s Next after their primary career.