Jan Cullinane - The New Retirement

19 Will you be acting your age during retirement?ANow that I'm older I will be restricting some of my activities.BI expect health problems will have some effect on my retirement.CFor the immediate future I expect only a few physical limitations.DI don't feel my age. Mentally I am decidedly younger.

20 Does the TV keep you company?AOn a typical day I have regular TV shows I watch.BI watch TV but I prefer to be doing other things.COn a typical day TV is my main source of entertainment.DI watch TV fewer than three hours a day.

21 How easily will success come in retirement?AI succeeded in my career and I'll be just as successful in retirement.BI will have to change gears and think differently in retirement than I did during my career.CSucceeding at retirement may take a little work.DI'm not sure.

22 Will you have enough money for retirement?AGood financial planning will pave the way for my retirement success.BI plan to work part-time to make sure ends meet.CI'm not sure how financially prepared I am.DIt will be touch-and-go on the money but I'll get by.

23 Will your native skills help you in retirement?AI'm still at the top of my game.BI'm not as mentally sharp as I was 20 years ago.CRetirement means I won't have to push myself, so I'm not concerned about skills.DEmployers don't want an over-the-hill person like me for good-paying jobs.

24 How's your health?AGood. No chronic diseases and the same for my spouse (if you have one).BI'm okay but my spouse has a serious health problem.CI have some health issues but my goal is to not let them slow me down.DMy health is a problem and may seriously affect my retirement activities.

25 Are you prepared for retirement?AI've been looking forward to it for a long time, so I'll be okay.BOf course. I don't have to prepare for goofing off.CI've planned a few things that should be fun.DI've done a lot of planning and research on what I will do with my time.

1 (A)4; (B)2; (C)1; (D)2

2 (A)3; (B)4; (C)1; (D)0

3 (A)3; (B)3; (C)4; (D)0

4 (A)0; (B)4; (C)3; (D)0

5 (A)1; (B)0; (C)3; (D)4

6 (A)4; (B)0; (C)4; (D)2

7 (A)0; (B)4; (C)2; (D)4

8 (A)0; (B)0; (C)4; (D)3

9 (A)2; (B)3; (C)1; (D)2

10 (A)0; (B)3; (C)4; (D)1

11 (A)4; (B)2; (C)2; (D)4

12 (A)3; (B)4; (C)1; (D)2

13 (A)3; (B)4; (C)0; (D)1

14 (A)1; (B)0; (C)4; (D)1

15 (A)4; (B)4; (C)0; (D)1

16 (A)2; (B)0; (C)2; (D)4

17 (A)2; (B)0; (C)2; (D)4

18 (A)0; (B)4; (C)0; (D)1

19 (A)2; (B)1; (C)3; (D)4

20 (A)1; (B)3; (C)0; (D)4

21 (A)2; (B)4; (C)2; (D)2

22 (A)4; (B)3; (C)3; (D)2

23 (A)4; (B)3; (C)0; (D)0

24 (A)4; (B)0; (C)0; (D)1

25 (A)2; (B)0; (C)3; (D)4

Below 50 – Abort your retirement mission immediately. Key systems are not functioning properly.

50–59 – A launch hold is in effect. More preparation is recommended.

60–69 – A launch is possible but prepare for a bumpy ride.

70–85 – You're cleared for takeoff. A few system checks and repairs may be necessary during the flight.

Above 85 – A-OK. All systems are a go.

Source: RetirementRocket.com

1 Dychtwald, Ken, and Robert Morison. What Retirees Want. Wiley, 2020.

2 Gilbert, Fritz. Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years. Rockridge Press, 2020.

3 Leider, Richard. Who Do You Want to Be when You Grow Old?: The Path of Purposeful Aging. Berrett-Koehler Publishers, 2021.

4 Moss, Wes. What the Happiest Retirees Know: 10 Habits for a Healthy, Secure, and Joyful Life. McGraw-Hill Education, 2021.

5 Petrow, Steven. Stupid Things I Won't Do When I Get Old: A Highly Judgmental, Unapologetically Honest Accounting of All the Things Our Elders Are Doing Wrong. Citadel, 2021.

6 Singletary, Michelle. What to Do with Your Money When Crisis Hits: A Survival Guide. Mariner Books, 2021.

1 AARP ( www.aarp.com)

2 Next Avenue ( www.nextavenue.org). This site also has a great section for solo agers.

3 TopRetirements ( www.topretirements.com)

1 National Association of Baby Boomer Women (NABBW) ( www.nabbw.com)

2 Sixty and Me ( www.sixtyandme.com)

Retire Sooner Podcast with Wes Moss(over 60 podcasts):

1 https://podcasts.apple.com/us/podcast/retire-sooner-with-wes-moss/id902749218

Does the idea of planning 168 hours a week for two or three decades (or more) sound thrilling or intimidating? If you deduct eight hours in a 24-hour period for sleeping (and I'm guessing not too many of us get a full eight hours of sleep every night), that still leaves 112 hours a week to “fill” mindfully or mindlessly. It was noted in Chapter 1that it's important to replace the benefits, in addition to a paycheck, that working provides. That is what this chapter is about. Retirement doesn't mean sitting on the sidelines of life. It's the freedom to choose and forge new paths, pursuits, relationships, and opportunities. You can decide who you are and who you want to be. You can re-invent yourself. Kind of like our GPS, when we need to “recalculate.”

Assuming you have the financial means, you can play golf, pickleball, tennis, watch television, and eat all your meals out, but what other options exist? What types of volunteer and lifelong learning opportunities are there? Hobbies? Travel? Play a new sport? Volunteer? Learn a new language? Use the time to deepen relationships with family/friends? Decide to finally lose those 20 or 30 extra pounds you've been carrying around for several decades? Create or do something that will make a lasting impact, long after your death (see Chapter 10)? Start a second (or third or fourth) career (see Chapter 3)?

But, is there a “sweet spot” for how much unscheduled time per day is best? You may have spent or you are spending much of your preretirement life with so many demands on your time, you feel you can barely make a trip to the bathroom. Retirement can change that time crush, but many retired people continue to over-schedule and still feel under constant time pressure. A 2021 study addressed this exact question about time – it turns out people are generally happiest with about two to five hours of unstructured time per day. Fewer than two hours created stress, while more than five hours each day of free time negatively affected feelings of well-being and feeling purposeful. So, just as in the story of Goldilocks (as in many facets of life), there is a balance that is often “just right.” And, what's the best thing to do with that “free time”? The researchers found exercising (I know, for some it's more of a job/obsession), learning new things, or spending time with others increased happiness – in other words, doing things by choice, not obligation. And, the free time doesn't have to be done in large chunks of time to have a beneficial effect. Reading a short chapter of a book or taking a mile hike or just watching the clouds passing overhead for 15 minutes can all be good uses of discretionary time. A reminder – what's considered “free time” for some (walking the dog) could be considered obligatory by others.

Now is a good time to complete the “Time on Your Hands” worksheet at the end of this chapter to get a preliminary sense of how you think you will/do spend your time. The results may be eye-opening. If part of a couple, compare and discuss your results.