Retire? Who, Me?

We may not realize but retirement can be a serious senior moment. Since seniors run the gamut from 50 (AARP) to 62 - 65 (former traditional retirement age), 67 (pending age) to 100+, it is difficult to pinpoint a retirement age. Personally, I retired at 68, my wife at 62. But I have no idea when our children will retire or at what age.

Then there is forced retirement: disability, disengagement (e.g. downsizing, corporate failure, offers too hard to resist to retire early) and despair (hatred of job, overlooked for advancement, lack of appreciation, no raises or cost-of-living incentives). And the list goes on.

Currently there seems to be a consensus among quite a few pre-retirees that they do not plan to retire. This is assuming a lot of things: that they will be employable, that their job will continue, that they will be able to change professions adequately, that their health will be amenable. So, we ask why would these workers want to continue working.

There are many answers. Here are a few: They love their employment. They are skeptical of the future of pensions and Social Security. They have not set aside sufficient savings or investments. They have already retired (early or on schedule) and found it boring, lonely or frustrating (like the hubby underfoot syndrome). They have a yearning to do something else in life. A new job or career sounds exciting . . .

Retirement a few years ago was generally an unknown quantity for many. Our great grandparents and some grandparents probably didn’t retire. Our country was much more rural then and the elderly lived at home alone or with extended family until death knocked at their door. In 1935, Social Security was inaugurated which helped pay for retirement and some unemployment. S.S. has witnessed benefit growth, fewer contributing while more (48 million today) were receiving: 33 million retirees, 7 million survivors, 8 million disabled workers. Prior to this, the elderly lived with family, on limited pensions and some savings.

Retirement varies considerably for retirees. Some revel in their spare time while others suffocate. Some must reduce their costs of living while others have no financial woes. Some are bored silly with a superabundance of golfing, fishing, RV-ing and oscillating on their rocking chairs. Others find considerable pleasure in volunteer work and tutoring, travel and visiting grandkids and long, lost neighbors. Some get hooked on gaming and gambling while others read, sew, carve and go online.

You get the idea. Retirement is a mixed bag. I remember my own late father. A wonderful person, a good father, and in some ways a workaholic in his vocation. He had little or no time for hobbies or other interests that could be carried over into retirement. He stalled for awhile but finally retired. Did he enjoy it? Hardly. He didn’t know what to do with himself and literally crashed, physically and emotionally. What brought him out of it? A simple solution: Dad, go back and do the work you’re used to doing. Become a an interim consultant. He did just that for ten years and then retired again. Successfully.

What can we say about this senior moment? It doesn’t happen to all but to too many. Plan ahead, save some money, find some outside interests, get a hobby or two, volunteer, take trips while you can, exercise your mind and body before and after retiring and finally, don’t become a recluse. Mingle with people, get reacquainted, make new friends and enjoy your newfangled freedom.