How Will You Spend Your Golden Years?
It seems almost absurd for baby boomers to think about retirement as the next stop in their long and eventful lives. But the absurd has become a reality. As the baby boomer generation moves into their mid-fifties, sixties and even seventies the specter of retirement looms ever closer. So it’s natural and appropriate to sit back and review exactly what that means to each of us.
For many, the traditional attitude toward retirement has been one of joy. The concept of laying down your worries and bringing your work life to a comfortable end is something to look forward to. Sleeping late, golfing more, and living a life of leisure is a vision in our minds, for sure.
But the reality of retirement can also be a source of anxiety and fear. If the baby boomer who approaches that threshold is not financially prepared. If the affairs and concerns of their work lives are not ready to be set aside.
The idea of having to retire simply due to age seems to be a harsh and unpleasant prospect. In both of these visions, we are probably working under both myth and reality about what it will be like to retire. But there are three things baby boomers are good at. Debunking myths, defying conventional wisdom, and defining each era of their lives in their own terms.
What To Expect
We can expect the same as baby boomers move into retirement. This is a generation that did not have the benefit of employers who were loyal to employees. Nor did those employers keep the same staff from college through their retirement party. And they certainly could not expect a hefty retirement package from those employers. But boomers are not the kind of generation that lets things sneak up on them.
Boomers can tap into sources to create a secure financial future despite the lack of participation by past employers. This can be done through organizations like AARP even without past employer participation.
But as with all other phases of life, however, financial security is not what makes life worthwhile all by itself. As baby boomers see retirement as their next stop, another myth that has to go is retirement is the end of a productive life.
This image of living a life of leisure and no longer being responsible is not necessarily a healthy approach to retirement. It was not a good idea in any other phase of life and isn’t a good idea now.
Pursue The Dream
Human beings are at their best when they are useful, creative, productive and pursuing a dream. When a senior citizen is no longer part of something larger than themselves things begin to happen. When they no longer see themselves as productive in life, their will to live declines. This has the inevitable result of an end of life that is earlier than it has to be.
So the financial demand that some baby boomers face that they may have to work on into what is considered to be the “golden years” may have a hidden blessing of extending their lives in a healthy way. These will be the baby boomers who know they must stay fit and active because, just like always, they have to get up and go to work.
For those who do lay down their labors at retirement age, second careers are often a great way for aging baby boomers to not only create a second revenue stream but to pursue a career path that has always been a dream in life. Another alternative for staying active and useful in retirement is to become passionate about a cause in life that has always been important to you.
Baby boomers have always been a group driven by causes. So, what better way for seniors to use their retirement than to become activists to make a difference in the world? They did so much to make a difference in their youth, so why not now? The world will be a better place for their involvement, and the retired baby boomer will live a happier senior life as well.
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