Marcus Tullius Cicero (106-43 B.C.) was a Roman statesman and philosopher. He wrote De Senectute (On Old Age) in 44 B.C. when he was 62. (Old age began at age 45 according to the Romans.) Cicero died a year later on the orders of Mark Anthony with whom he had had a number of political disputes.

Cicero’s analysis and observations on growing older are timeless and, agree with them or not, are certainly good food for thought. He wrote De Senectute assuming the persona of 84 year old Cato the Elder, who had lived about 100 years earlier, having a discussion with two younger men. For the sake of ease, I attribute all quotes directly to Cicero.

The young men, admiring the way Cato has borne the increasing burdens of growing older, ask him on what principles they could rely to allow them to do the same. Cato (Cicero) responds:

“I find four reasons why old age appears to be unhappy: first, that it withdraws us from active pursuits; second, that it makes the body weaker; third, that it deprives us of almost all physical pleasures; and, fourth, that it is not far removed from death. Let us, if you please, examine each of these reasons separately and see how much truth they contain.”

Cicero then addresses each of these in order, beginning with the first concern: old age withdrawing us from active pursuits. His basic message here is that senior citizens remain active, just in different ways than their younger counterparts. His focus is on community service, writing, continued learning and philosophic reflection. He notes:

“Those… who allege that old age is devoid of useful activity… are like those who would say that the pilot does nothing in the sailing of his ship, because, while others are climbing the masts, or running about the gangways, or working at the pumps, he sits quietly in the stern and simply holds the tiller. He may not be doing what younger members of the crew are doing, but what he does is better and much more important. It is not by muscle, speed, or physical dexterity that great things are achieved, but by reflection, force of character, and judgment; in these qualities old age is usually not … poorer, but is even richer.”

With respect to a declining memory he comments: “Of course (it happens), if you do not exercise it, or also if you are by nature somewhat dull. I certainly never heard of any old man forgetting where he had hidden his money! The aged remember everything that interests them, their appointments to appear in court, and who are their creditors and who their debtors.”

Taking on the second concern, that growing older making the body weaker, Cicero tells us: “I do not now feel the need of the strength of youth any more than when a young man I felt the need of the strength of the bull or of the elephant. Such strength as a man has he should use, and whatever he does should be done in proportion to his strength.”

He goes on to admonish us to: “enjoy the blessing of strength while you have it and do not bewail it when it is gone unless… you believe that youth must lament the loss of infancy, or early manhood the passing of youth. Life’s race-course is fixed; Nature has only a single path and that path is run but once, and to each stage of existence has been allotted its own appropriate quality; so that the weakness of childhood, the impetuosity of youth, the seriousness of middle life, the maturity of old age — each bears some of Nature’s fruit, which must be garnered in its own season.”

He also points out: “…it is our duty…to resist old age; to compensate for its defects by a watchful care; to fight against it as we would fight against disease; to adopt a regimen of health; to practice moderate exercise; and to take just enough of food and drink to restore our strength and not to overburden it. Nor, indeed, are we to give our attention solely to the body; much greater care is due to the mind and soul; for they, too, like lamps, grow dim with time, unless we keep them supplied with oil.”

Regarding the third concern, that growing older deprives us of almost all physical pleasures, Cicero takes a philosophical approach: “the fact that old age feels little longing for sensual pleasures not only is no cause for reproach, but rather is ground for the highest praise. Old age lacks the heavy banquet, the loaded table, and the oft-filled cup; therefore it also lacks drunkenness, indigestion, and loss of sleep. But if some concession must be made to pleasure, since her allurements are difficult to resist, … then I admit that old age, though it lacks immoderate banquets, may find delight in temperate repasts.”

And with respect to sexual pleasure he tells us: “… granting that youth enjoys pleasures of that kind with a keener relish, …although old age does not possess these pleasures in abundance, yet it is by no means wanting in them. Just as (a great actor) gives greater delight to the spectators in the front row at the theatre, and yet gives some delight even to those in the last row, so youth, looking on pleasures at closer range, perhaps enjoys them more, while old age, on the other hand, finds delight enough in a more distant view.”

Finally we arrive at the fourth concern about growing older, that it is not far removed from death. Cicero simply dismisses the fear of death: “death should be held of no account! For clearly (the impact of) death is negligible if it utterly annihilates the soul, or even desirable, if it conducts the soul to some place where it is to live forever. What, then, shall I fear, if after death I am destined to be either not unhappy or happy?” Regarding the hopes of older men vis à vis younger ones, Cicero says: “the young man hopes that he will live for a long time and this hope the old man cannot have. Yet (the old man ) is in better case than the young man, since what the latter merely hopes for, the former has already attained; the one wishes to live long, the other has lived long.”

Cicero concludes De Senectute with the following thoughts: “…my old age sits light upon me…, and not only is not burdensome, but is even happy. For as Nature has marked the bounds of everything else, so she has marked the bounds of life. Moreover, old age is the final scene, as it were, in life’s drama, from which we ought to escape when it grows wearisome and, certainly, when we have had our fill.”

What lessons might we take away from our reading of Cicero? Perhaps:

• To age gracefully.
• To focus on what we have and can do rather than what we don’t have or can’t do.
• That age is no barrier to remaining engaged with life: intellectually, physically, socially.

Quotes from Cato Maior De Senectute by Cicero, Loeb Classical Library, 1923 (public domain text)

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

“None are so old as those who have outlived enthusiasm   – Henry David Thoreau

One of the great determinants of successful retirement is positive attitude. Retirement brings many changes and we need to be able to adjust to them and control them to the extent to which we are able. Beyond the transition from full-time employment, over time there will likely be changes in finances, health, relationships, housing and other aspects of life. A positive attitude can help us take advantage of opportunities and “roll with the punches” if need be.

Just my opinion?

The Ohio Longitudinal Study of Aging and Retirement is a 20 year study that examined, among other things, the attitudes of people 50 and over toward aging.  The study found that people with a positive attitude about growing older lived an average of 7.5 years longer than those with a more negative attitude.  Positive attitude was a better predictor of longevity than healthy cholesterol level, regular exercise or not smoking!

The University of California San Diego School of Medicine did a study of people aged 60 to 98 regarding, among other things, their perceptions of whether they were aging successfully.  The researchers found that optimism and the ability to cope successfully with life’s challenges (attitude) were more important to a positive perception than than physical health.

A study at the University of Texas looked at whether there was a connection between attitude and increasing frailty as people became older.  The researchers found that people who had a positive attitude were significantly less likely to become frail.  The researchers were not able to determine why that is the case but the lead researcher, Dr. Glenn Ostir said: “I believe that there is a connection between mind and body and that our thoughts and attitudes/emotions affect physical functioning and overall health, whether through direct mechanisms, such as the immune function, or indirect mechanisms, such as social support networks.”

Or consider the “placebo effect.”  People who take a placebo and think they are going to get better frequently do.  It is the power of thinking positively.

And what about all the motivational speakers – corporate, religious, athletic, military, political etc.  When you cut through to the core of their messages you more often than not you arrive at building and maintaining a positive attitude.

So, if a positive attitude is a good thing to have, how do we go about getting one?  Some people seem to blessed with a “natural” positive attitude to “look on the bright side” and “see the glass as half full” rather than half empty.  But if we are not one of those people what do we do?

Attitudes are forged in our thoughts, so we we want to change or enhance our attitude we need to begin with how we think about situations and relationships.  Think about your attitudes toward how you spend your time, how much you are learning, your close friends, your neighbors, your health, your diet, your income, your happiness or other aspects of your life. Then reflect on how a more positive attitude with respect to those situations and relationships could have a beneficial effect in your life.  Consider how you might articulate that more positive attitude.  Write it (or them) down and repeat it to yourself every day, several times a day and look for ways to make it real in how you behave when you are by yourself and with others.  This is called positive affirmation and it is one of the most powerful ways to change attitudes.

Other things we can do:

• Have a plan for what you want to accomplish in life; don’t let things just happen to you.
• Take care of yourself physically and mentally.
• Be positive in your speech.
• Smile frequently.
• Look for the good in situations and people.
• Feel comfortable “in your own skin.”
• Focus on what you can do rather than what you can’t.
• Think of what you have rather than what you don’t have.
• Laugh out loud and find humor in daily life.
• Take time to help others.
• Communicate.  Don’t hold things inside.
• Manage an internal critic by focusing on ways to make things better.
• Stay engaged with life – intellectually, socially, physically.

“Yes, a positive attitude really does make a difference.” -  Michael F. Roizen, MD

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

“To sleep, perchance to dream…”

– William Shakespeare, Hamlet

While Prince Hamlet was contemplating a more permanent form of sleep, sleeping and sleep-related dreaming are very much a part of our daily existence.  But why? And just what IS sleep anyway?

We spend about one third of our lives sleeping.  No one really knows why we and most other organisms need to sleep.  Scientists have a developed a number of theories of why sleep is needed, e.g.:

• Restoration theory holds that sleep occurs so our bodies can repair and restore themselves through muscle and tissue repair, processing of waste materials, and hormone release.
• Energy conservation theory holds that sleep helps us conserve our energy resources by our becoming inactive during those times of the day when our ancestors found it was  inefficient or dangerous to search for food (old habits die hard)
• Brain plasticity theory holds that sleep is necessary for the brain to reorganize neural pathways based on new experiences. As we acquire new knowledge and skills through instruction or experience, there must be changes in the brain to reflect and retain that new knowledge or skills.

Perhaps we sleep for some combination of these reasons or for some other reason(s).  Point is: no one knows.

We know a bit more about what sleep IS.  In sleep, we enter a state of reduced consciousness.  Physical activity is reduced and we become less responsive to external stimuli.  Since physiological requirements are reduced, our body temperature and blood pressure drop somewhat.  Our brain activity, breathing and heart rate may be quite steady during some stages of our sleep experience and quite variable during other stages.

Scientists define two main stages or types of sleep: Rapid Eye Movement (REM) sleep and Nonrapid Eye Movement (NREM) sleep.

NREM sleep is where we normally begin our sleep commencing with a light sleep that gradually becomes deeper and deeper.  Breathing, heart rate, and brain activity are generally reduced and steady during NREM sleep.  Without deep NREM sleep it becomes difficult to wake up feeling rested.

REM sleep is still a deep sleep but is characterized by rapid eye movement and changes in breathing, heart rate and brain activity.  Our most intense dreaming occurs during REM sleep.  During REM sleep we do not move our arms and legs which is a good thing since if our bodies acted out our most intense dreams we might hurt ourselves or our bed partner.

Babies spend a lot of time in REM sleep.  In younger adults, REM sleep usually follows deep NREM sleep and then alternates with NREM sleep until waking.  In older adults, it appears to take longer to reach the deepest levels of NREM sleep and less time is spent in REM sleep.  So if senior sleepers observe that they just don’t seem to sleep as well (deeply, soundly, restfully) as they used to, it may well be due to normally occurring changes in their sleep patterns.

OK, so what is dreaming all about?  Again, nobody knows.  Some scientists suggest dreams are part of the brain’s process of sorting out life’s events and helping to create memories; others say dreams are simply the result of random brain activities.  We do know that the most vivid dreams seem to occur during REM sleep, however night terrors (waking up screaming) are usually not the result of dreams and usually occur in NREM sleep.  Your author tends to think of dreams as free movies – some good, some not so much.

So what happens with sleep as we get older?

Generally speaking, our quality of sleep tends to decline with age.  It tends to take longer to get to sleep in the first place; we spend more time in light sleep and less time in deep sleep, both NREM and REM; we wake up more easily and frequently.

So what can we do to increase the likelihood of getting a good night’s rest?  Experts suggest:

• Get regular exercise but not right before bed
• Avoid alcohol, caffeinated drinks and chocolate late in the day
• Keep your bedroom cool, dark and quiet
• Go to bed at the same time each night and get up at the same time each morning

What about napping?

In some cultures an afternoon nap or siesta after a substantial midday meal is part of the daily routine for people of all ages. Sleep experts say that short napping (30-60 minutes) can be a good thing if it is used to compensate for inadequate nighttime sleep.    But if napping during the day makes it harder for you to sleep at night, then it should be avoided.

Even though there is much we don’t know about sleep, we do know it is necessary to maintain physical, mental and emotional health.  Tired Nature’s sweet restorer, balmy sleep – Edward Young.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

Parties are almost always fun and most of us have hosted or attended our share of traditional holiday (New Year’s, Labor Day, Halloween, Xmas, etc.) and event (retirement, Super Bowl, graduation, etc.) themed festivities. Since we have those “down pat,” perhaps it is appropriate to try some new ones, or revisit some very old ones. For excuses to party, consider, in calendar year order:

Ides of March (March 15) – This is the date of the assassination of Julius Caesar in 44 BC by a group of Roman senators who feared he was on his way to making himself King (or perhaps they were just jealous). Anyway, great excuse for an Italian dinner and to raise a toast to a great statesman, general and author: Hail Caesar! (NB: People still put flowers on his grace in Rome.)

Spring (or Vernal) Equinox (about March 21) – the day and night are of equal length. The days will be getting longer. We are passing from winter into spring. Celebrate the passing and/or the arrival. Plant some herb seeds and toast the fertility of the land!

World Penguin Day (April 25) – Need an excuse to dust off your tuxedo (or at least dress in black and white)? Host a snow ball and go with the floe. Everyone brings a penguin joke. Oreo cookies for desert.

Arbor Day (Last Friday in April at the Federal level, the various states have their own dates) – Trees remove carbon dioxide and return oxygen; provide shade and cooling; reduce erosion and flooding; provide homes to birds and insects; give us wood and paper; feed us with fruit nuts and maple syrup. Celebrate trees! Have a party around a tree planting.

Summer Solstice (about June 22) – the sun is at its high point in the sky; it is the longest day of the year. We are warm and life is good. We take time off to relax from our labor. Toast the sun!

Honey Moon (midsummer – pick your date) – the mid-summer moon has been called the “Honey Moon” after the honey-based mead drunk at June weddings and betrothal ceremonies in medieval times. Toast the moon and love!

Talk Like a Pirate Day (September 19) – Avast matey! Show a leg and hoist the colors! Gather yer hearties and saucy wenches and quaff some grog and dance the hornpipe. Party ideas here and learn to talk like a pirate here.

Fall or Autumnal Equinox (about September 22) – day and night are equal in length again. Nights will get getting longer and the days colder. The harvest is in. It is time to get together with friends and strengthen our spirits in anticipation of winter. To the harvest and friendship!

Grape Harvest Festival (early October – pick your date) – The harvest is in and crushed. Fermentation is underway. Time to toast the grape and its wonderful liquid derivative!

Winter Solstice (about December 22) – the shortest day of the year. The days will be getting longer, the sun rising higher in the sky. Spring is promised to us. Celebrate the passing of the long, dark nights and the anticipation of the coming of warmth and new life from the earth!

Of course if you live in the southern hemisphere most of the seasonally oriented events above must be reversed.

Anyway, you get the idea – there is always something to celebrate. If you need an excuse to party on a particular day this site can provide you with one for every day of the year.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

Top Retirement Myths

1. The Myth: Retirement isn’t hard: I’ll just stop working and then chill out and enjoy myself. Retirement is essentially one big vacation.

The Fact: For many people retirement is of of life’s most difficult transitions. You transition from the daily structure and routine of the world of work to… what?

Unless you have thought about what you are going to do in retirement and put in place a plan to make it happen, you may wind up as one of the substantial number of retirees who is bored or even depressed. Once you have taken the trip(s) you’ve always wanted, played a lot of golf or tennis, cleaned out the basement, garage and attic and fixed everything that needs fixing, what are you going to do?

Retirement is certainly not one big vacation. A vacation is a time of respite or time away from the normal routines of school or work. Once you leave work you will in all likelihood have more free time, but what you do with that time becomes your new routine.

Retirement can be a fulfilling and very satisfying time of life but you need a plan to stay engaged intellectually, physically and socially and then you need to act on that plan.

2. The Myth: I can spend lots more time with my spouse/life partner.

The Fact: If you and your spouse/life partner have spent the last 40 or so years of normal work week days apart, you may find the transition to retirement less straightforward than you might imagine. You have both had a life outside of your relationship even if you have been able to spend evenings, weekends, vacations and holidays together. In all likelihood your spouse/life partner may have activities and relationships which he or she values and which might not be a good fit for you. You may be in a similar situation.

If you are in a relationship, retirement planning is not something you can do on your own, you need to collaborate with your partner. And the outcome of that planning may be that what is best for your mutual retirement happiness and your relationship is a combination of activities together and apart, just as was the case during your working years. Bear in mind the divorce rate is climbing fastest among the 55+ demographic, so plan well.

3. The Myth: I only need to plan for 10-20 years in retirement.

The Fact: Life expectancy has increased dramatically in the last century and continues to climb. Men who reach age 65 have a 75% likelihood of living to at least 85 and women are even more long lived.

To find out how long you might live there are several interactive online tools (here) that can help you make the calculation. With that information in hand, ask yourself: What am I going to do with all that time?

These calculators can also be helpful by giving you information about how the lifestyle choices you make can affect your expected longevity.

4. The Myth: It is too late to do much about my mind and body, and in any case, physical decline is inevitable.

The Fact: Certainly if we haven’t taken care of ourselves in pre-retirement, the challenge is greater. But you can actually improve your mind and body if you are willing to put in the effort.

And people already in reasonably good shape will want to do whatever they can to avoid deterioration. Sure, the process of aging does bring physical changes, but exercise (physical and mental), reasonable diet, and regular medical and dental care can delay and diminish many of the physical aspects of aging. And what we can’t change, we can accept with understanding and grace.

We are in charge of our own well being. We are what we do. We are what we eat. If we simply “veg out” and eat chocolate chip cookies while watching The Weather Channel, then a vegetable is what we will turn into.
Successful retirees strive to live each day to the fullest, exercise their minds and bodies and challenge themselves to continue to learn and grow personally. There are hundreds of ways to help us keep our minds and bodies sound and supportive of a fulfilling lifestyle.

5. The Myth: If I have enough money I will be happy.

The Fact: Having money is good and having more than “just enough” is even better for most of us.
However, many people think that if they accumulate enough physical and financial assets during their careers, they will assure themselves a successful retirement. Assets may indeed assure a degree of physical comfort, a certain lifestyle and a sense of security.

But physical and financial assets cannot buy

• A healthy mind and body
• Great friends and a supportive social network
• A happy and positive attitude
• The joy that comes from living life to its fullest every day

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

Goal setting is one of my “Top Ten Retirement Activities.” But it is sufficiently important in my view to deserve treatment as a stand-alone topic.

As we learned during our working careers, setting goals is important for making progress, and assuring that things get done in a timely way and in a quality fashion. This is no less true in retirement. Ask yourself:

What do you want to accomplish with the rest of your life?
What do you want to build or create?
Where do you want to go?
What do you want to see?
What do you want to experience?
How can you give back for all you’ve received?
What to want to learn?
What do you want to do for others?
Who do you want to spend time with? Doing what?
What can you do to improve your physical well-being?
Do you need to do anything to get your spiritual house in order?

While all of us will have some financial, physical and perhaps other restraints around our answers to these questions, they are important to ask. The answers give us a sense of direction about how we can remain engaged and live our lives as fully as possible.

Consider making two lists:
1. Things to accomplish before I die (sort of the ultimate deadline or “bucket list”).
2. Things to accomplish by December, ______ (12 or more months away).

These can become your long and short term goals. Ideally, at least some of the goals in list 2 should help you make progress toward your goals in List 1. As with goals set in the work environment, your short and long term goals can and should be modified based on changing circumstances and new insights.

You may want to share your lists with your spouse or significant other (he or she may have lists also). This can be helpful as a reality check and for managing expectations. Perhaps you want to want to have some joint goals. But it remains important that you have goals of your own for which you will hold yourself accountable.

At the end of your short term goal period, assess how you did. Did you accomplish what you set out to do? (Pat on the back?) Did you add or drop goals? Is there anything you fell short on? Should some goals be carried over into the next short term goal period? What additional goals do you want to set? Are there any changes to your long term goals?

As you go through this process, it may be helpful to assure you are setting goals that will help you remain active intellectually, socially and physically.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

The average retirement age in the United States was 70 in 1950, 66 in 1970, 63 in 1990 and approaching 62 recently. Enter the economic crunch of 2008-2009.

According to a recent study conducted by Harris Interactive for Age Wave, people not yet retired think they will need to postpone their retirements by an average of 4.2 years.  So we could see the average retirement age increasing substantially for the first time in decades.

Even more to the economic point, a majority all groups in the study except for “Millennials” (age 21-32) lost money in mutual funds, 401(k) plans and/or the stock market over the course of the prior year (the study was conducted in March, 2009).  And, on average, study respondents believe it will take them about seven years to return their investment portfolios to what they were worth a year earlier.

Could the news get worse?

Yes.  According to the study people over the age of 55 are even more concerned about uninsured medical expenses than they are about retirement income.  We can work longer to build up or rebuild our retirement nest egg but sudden loss of health and the need for prolonged care can burn through assets very quickly.  If you are very affluent, you probably have the resources to cover significant medical costs.  If you have lower income, you may well be covered in large measure by Medicaid (although you may still lose significant assets).  If you are in the middle, long term care insurance may be appropriate if you afford it.  But much is uncertain.  The train of upward spiraling medical costs and entitlements is hurtling down the track to the Town of Reckoning.  We are in desperate need  of a few good and selfless statesmen and stateswomen in Washington to rise up above the usual political morass and provide leadership toward a real and long-term solution in the best interests of everyone.

Is there any good news?

Yes.  The most important lesson study respondents say they take away from the experience of our recent financial challenges is the “need to live within your means.”  Another way to characterize this is to strive to live within our “financial comfort zone.”   We need to support our lifestyles with the real financial resources available to us and not with excesses of real estate and credit card debt.  If our desired lifestyle exceeds our financial resources we must either rein in our lifestyle or add to our resources.  This of course seems quite commonsensical but many people lost touch with it during times of (unrealistically) easy credit.

More good news: savings rates at over 4% are almost double what hey were over the last decade and household credit card debt is down almost 10% from a year earlier.  This isn’t the result of people reaching out to the federal government saying “Save me, save me.”  It is the result of people taking a good measure of the situation and acting to put their financial houses in order.

Age Wave has always been very supportive of an engaged approach to retirement which is what this blog is all (or at least mostly) about as well.  If you would like to read the full Age Wave report, you can find it at www.agewave.com/RetirementTipping Point.pdf

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

For I don’t care too much for money,
For money can’t buy me love
- Lennon/McCartney (1964)

Or happiness.

Many people think that if they accumulate enough physical and financial assets during their careers, they will assure themselves a successful retirement. Assets may indeed assure a degree of physical comfort, a certain lifestyle and a sense of security. But physical and financial assets cannot buy

• A healthy mind and body
• Great friends and a supportive social network
• A happy and positive attitude
• The joy that comes from living life to its fullest every day

Having money is good and having more than “just enough” is even better for most of us. But tech or housing bubbles may burst, corporate business models may crash, illness may demand large sums, government may redesign or restrict retirement income and other support programs and so on (truly) ad nauseam.

It is best to think in terms of living within your financial comfort zone – within the financial resources available to you. Not living within your financial comfort zone invariable leads to stress which is one of the great destroyers of successful retirements. If your retirement lifestyle aspirations exceed your resources, then you will need to add to those resources by coming partly out of retirement or only partially retiring in the first place. If your resources exceed your lifestyle aspirations, then you are blessed, but remember, as we have seen in 2008-2009, financial circumstances can shift quickly.

With living in our financial comfort zone as a base we can focus on more important aspects of life

• Exercising regularly: stretching, aerobics, muscle building.
• Maintaining our existing social relationships and building new ones. Very few people can be truly happy by themselves. We are by nature social creatures. Socialization is not something that will just happen to us; we need to nurture it.
• Building our attitude: Studies have shown that one of the most important factors in being happy is attitude. There are many things about ourselves and our circumstances that we may not be able to change but attitude isn’t one of them; we can decide to be happy. We need to focus on: what we can do rather than what we can’t do; what we have rather than what we don’t have.

• Learn, study, grow, create, build, give back, eat, drink and be merry. Retirement is the time to enjoy all the things you love and learn about those you didn’t have time for during your years of work. Learn a language. Make cheese. Be a model. Learn to draw. There are endless possibilities.

Where to get started? You need a plan.

While a “bucket list” (what do I want to do before I “kick the bucket”?) is an interesting thing to about which to fantasize, the plan really needs to be about: what do I want to do with my life? What do I want to build, create, see, experience, learn? Now is the time to pursue your inner talents and creativity and to find fulfillment.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

As author of The Successful Retirement Guide I am often asked if I have a “Top Ten” list of retirement activities.  I do, and here they are:

1. Eat – While eating is important at all ages, in retirement we have more time and opportunity to enjoy all the activities associated with acquiring, preparing and consuming it.

If you have not cooked and someone else has, offer to take over one or two nights a week. It will probably be greatly appreciated and you’ll have the opportunity to learn something new.

If you have been the cook drop some hints re: the prior paragraph and, for yourself, try some new things – not just a new recipe but new ingredients, new spices, new cooking methods, e.g. using a wok, a tagine, a steamer, slow cooker or a Panini grill.

Try some ethnic cooking, e.g. Cajun, Caribbean, Chinese, Greek, Indian, Italian, Mexican, Middle Eastern, Moroccan, Spanish.

Or for eating out, try ethnic dining, healthy dining, best value dining or consider forming a gourmet club with friends. There can be all manner of intellectual, social and physical benefits associated with eating – you need to do it in any case so why not find new ways of making it a more engaging experience.

2. Drink - We need to stay hydrated so water is essential.  Low sodium vegettable juice is also good – it has lots of nutrients with low calories.  Fruit juice has nutrients but adds calories.  Coffee and  tea can be beneficial.  And there is evidence that alcohol, in moderation can also good for us.

There are many activities associated with drinking that can help keep us engaged: learning about wines, conducting wine tastings, brewing beer, concocting fruit or vegetable smoothies, learning how to make fancy cocktails, learning about and trying teas from around world.

It is like eating, we need to do it in any case so why not focus on ways to make it more healthy and interesting.

3. Be Merry – Happiness is a state of mind. Abraham Lincoln summed it up nicely when he said: “Most folks are as happy as they make up their minds to be.”

Studies have shown that one of the most important factors in being happy is attitude. There are many things about ourselves and our circumstances that we may not be able to change but attitude isn’t one of them; we can decide to be happy. We need to focus on:

• What we can do rather than what we can’t do.
• What we have rather than what we don’t have.

It helps to:

• Allow ourselves to laugh out loud and find humor in our daily living.
• Allow ourselves to be open to being loved.
• Take time to help others.
• Communicate and don’t hold things inside.
• Keep ourselves physically and mentally fit.
• Avoid spending too much time with the (mostly negative) mainstream media.
• Learn to manage our internal critic by focusing on ways to make things better.

Norman Vincent Peale said: “There is a basic law that like attracts like. Negative thinking definitely attracts negative results. Conversely, if a person habitually thinks optimistically and hopefully, his positive thinking sets in motion creative forces, and success, instead of eluding him, flows toward him.”

4. Exercise –

• Aerobic – This is the stuff that gets your heart and lungs moving. It helps to improve the functioning of your heart and lungs, lowers blood pressure, boosts good cholesterol and reduces body fat and weight. You want a rhythmic activity that makes your heart and lungs work harder.
• Stretching – Stretching increases the length of your muscles and tendons. You do this in order to increase the range of motion of your limbs and joints thus making them more “flexible.” Stretching prepares your muscles and tendons to be active; without stretching you increase the risk of injury.
• Weights – This helps you build strong muscles, bones and joints. It can also help reduce blood pressure and cholesterol and improve other health dimensions. With weight training you subject your muscles to greater resistance than that to which they are accustomed and, with repetition, you build endurance.
• Yoga – Yoga exercises (asanas) will help you build flexibility, strength, balance. They can also help reduce stress and improve your breathing. If you want to also take it to a place more spiritual, that path is available.

5. Learn a language – Federico Fellini said “A different language is a different vision of life.”

There are many reasons to learn a new language. Among them:

• Broadening your cultural and intellectual horizons.
• Improving your understanding of literature, film and music.
• Building new friendships.
• Ordering food and beverages.
• Stimulating your brain and helping with conceptualization and flexible thinking.
• Connecting with people and culture when you travel.
• Reading road signs and maps in other countries.
• It’s fun!

6. Volunteer- Ralph Waldo Emerson said: “It is one of the most beautiful compensations of this life that no man can sincerely try to help another without helping himself.”

Volunteering is the chance to make a difference, to give back, to help others in need. It takes many forms from fairly structured assignments to informal helping of neighbors. With older adults living longer and healthier, many are looking for volunteer opportunities in their post-work lives. There are and many non-profit organizations, churches, hospitals, schools looking for help. Fortunately there are also groups and web sites to help bring the volunteers and those who need them together.

Two basic questions to ask:

• Is there a cause or mission I care deeply about?
• How much time do I want to spend?

Learn about opportunities by visiting the websites of, e.g. Senior Corps, Experience Corps, Civic Ventures, Habitat for Humanity (my website has a more extensive list).

7. Create – Do something creative: write, draw, paint, photograph, quilt, work with wood, tin or stained glass, craft origami, compose music, pottery, needlepoint, make cheese.

8. Learn/Study/Grow – What to study? Anything that grabs you! If you don’t have an immediate particular interest, try an introductory course in an area with which you have no experience (consider, for example, sculpting, meteorology, philosophy, Haiku, modern dance, Chinese history). You will learn something (and build some new neural connections as you do). You will probably also have fun, and you will be out and about and meeting new people.

9. Declutter – Many of us have too much stuff. Too much stuff takes up space, weighs you down, closes you in, gets in the way (sometimes literally tripping you) and is not appreciated by your heirs. Keep the good stuff, make room for new stuff and free up your life by decluttering.

What to do with it all? Sell it if possible. Gift it if you can’t sell it (nursing homes might like books; The Salvation Army or Goodwill Industries might value clothing and you get a tax deduction). Recycle it if you can’t give it away (your stuff gets a new life). Toss it if all else fails.

10. Set goals – As we learned during our working careers, setting goals is important for making progress, and assuring that things get done in a timely way and in a quality fashion. This is just as true in retirement.

What do you want to accomplish with the rest of your life?
What do you want to build or create?
Where do you want to go?
What do you want to see?
What do you want to experience?
How can you give back for all you’ve received?
What do you to want to learn?
What do you want to do for others?
Who do you want to spend time with? Doing what?
What can you do to improve your physical well-being?
Do you need to do anything to get your spiritual house in order?

While all of us will have some financial, physical and perhaps other restraints around our answers to these questions, they are important to ask. The answers give us a sense of direction about how we can remain engaged and live our lives as fully as possible.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price

Each year most of us receive a Statement from Social Security which provides an estimate of our Social Security Benefits and an update of our Earnings Record upon which the estimated Benefits have been calculated.  We are asked to check the Earnings Record for accuracy and to understand the benefits that may be available to us at various ages and under varying circumstances.

It is important to note that the normal retirement benefit estimate assumes you will continue to work until your normal retirement age and make about the same amount of income as you did in the last year of earnings as recorded to date by Social Security.  If your earnings are reduced due to retiring early, being laid off or taking a lower-paying position (all very real possibilities in these times), your actual retirement benefit may be less.  The best way to get an accurate and up-to-date  estimate or your benefit is to use Social Security’s on-line estimator at www.socialsecurity.gov.

We are also informed on our Social Security Statements that …

“Social Security is a compact between generations.  For decades, America has kept the promise of security for its workers and their families, now however, the Social Security system is facing serious financial problems, and action is needed soon to make sure the system will be sound when today’s younger workers are ready for retirement.

In 2017 we will begin paying more in benefits than we collect in taxes.  Without changes, by 2041 The Social Security Trust Fund will be exhausted and there will be enough money to pay only about 78 cents for each dollar of scheduled benefits.  We need to resolve these issues soon to make sure Social Security continues to provide a foundation of protection for future generations.”

Sound familiar?  It should. We have known this and have been hearing about it for decades.  However, our elected representatives have preferred to busy themselves with whatever short term Porky Pig projects they believe will be most efficacious in getting themselves re-elected instead of dealing with the fundamental issues facing the nation.  (But that’s a subject for another time.)

The Social Security Trust Fund mentioned above is a joke (and not at all funny).  It contains no substantive assets.  All the funds that go into it are sucked up by the Federal Government (to pay for our representatives’ Porky Pig projects) which issues the “Trust Fund” a series of  IOUs.  Where will the Government get the money to repay the fund?  Since we are undergoing a massive increase in government debt, it will have to raise taxes.

Leaving aside the silliness of the “Trust Fund,” what are the options for dealing with the problem?

1. Raise the retirement age
2. Reduce cost-of-living adjustments
3. Change the benefit formula
4. Invest in something other than government IOUs
5. Privatize it
6. Increase the payroll tax
7. Increase the limits on taxable earnings
8. Finance it with general revenues
9. Means testing
10. Some combination of the above

Items 1-3 are certainly doable and may contribute to a solution.

Items 4 and 5 sound too much like something George Bush would espouse and therefore will be automatically rejected by the political elite.

Items 6 and 7 risk a generational revolt: the Social Security tax is already the largest tax that the average American family pays.  Younger workers see it as a bad deal, one in which they will end up paying more in taxes than they receive in benefits.  They and their children (our grandchildren) are already being saddled with a gigantic debt to pay for all the Porky Pig projects our representatives pretend will stimulate us out of recession.  Obama wants to “ask (ask?  really?) those making over $250,000 to pay in the range of 2-4 percent more in total”  (quote from www.barakobama.com).  This will be on top of  increased income taxes.  Let’s add class warfare to the generational conflict.

Item 8 is impossible given the level of government debt.

Item 9 – Social Security has always been based on an “earned right” to a benefit – you earn a benefit by paying into the system over a required period of time.  Under Means Testing, the political elite will determine whether someone has enough assets or income of their own and should therefore have his or her Social Security benefit reduced or eliminated.

Grab hold of the rug and give it a big pull…

And if you agree that Social Security is a problem, please know that Medicare’s long-term deficit is five times as large and that is before we get full-blown government health care for all.

R. Kevin Price

www.successfulretirementguide.com

© 2008-2009 R.K. Price