Today's Retirement Journey
Forget those stereotypes. Stay active, stay involved, and prepare for what may be your best years yet
That's not exactly a definition of high quality of life, and depression is rampant among the elderly. Statistics show that white males in their 80s are the most suicide-prone age group. Dennis advises would-be retirees that before they take the step they should think long and hard about whatever it is that makes their life meaningful. "Take a clue from your past 30 years," says Dennis. "You are who you are, but what you have is an opportunity to express it differently." And whether you plan to work at a paying job or volunteer, lay the groundwork before you retire. Being busy is not enough. It's what you're busy doing that counts.
Polish those skills
Investing in your education, skills, and other "human capital" by returning to school, volunteering, and making contacts in your field before you retire can be worth more than what you have in the bank. Thirty years from now, as the 65-and-up share of the population balloons, there will be 2.7 younger workers for every person age 65 and older, compared with 4.7 now. That may not augur well for the success of the U.S. economy. But it does point to a large pool of available jobs for older workers because of a dearth of younger people to fill them.
Getting those jobs won't be a cinch, especially in light of society's ageist tendencies. It will be vital to be good at what you do and to keep your skills current. Although today's older workers have many more options than they used to, current employers can't be counted upon for help in finding them. "Educating workers on how to get the most out of their retirement is costly to companies and one of the first programs to go when costs are cut," Dennis says. Community colleges and universities can often help. Many older workers are hiring retirement coaches. Check out the International CoachFederation (www.coachfederation.org) and CoachInc.com (www.coachinc.com)
Increase your social security
The relationship kind, that is. "There can be trips to Tibet and cruises to Alaska, but it's the relationships people have with their families and friends that really sustain them in their later years," says sociologist Ekerdt. In surveys, many retirees say they spend more time simply enjoying their adult children and grandchildren than they do on any other activity. To further those relationships, many retirees are staying put, close to family and friends, instead of migrating to a warm and sunny retirement community. Or if they do move, it is often to follow grown children who have scattered across the country. In a new twist, retirees are even persuading their kids (and grandkids) to move with them to new multigenerational communities. Created by developers in metropolitan areas like Phoenix and Las Vegas, the idea is to mimic the small towns where extended families once lived for generations. These communities often include golf courses and elementary schools, water slides and water aerobics, high school seniors and senior citizens.
Although today's elderly have the lowest volunteer rate of any demographic group in the country--and the highest rate of depression--the boomers apparently have every intention of changing that. Opinion surveys consistently find that the next generation of retirees expects that volunteering and community service will be a "very important" part of their lives.
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