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June 2017

Will You Really Move When You Retire?

OntheGoMany Boomers have dreams of relocating when they retire, but that doesn't match reality. Data cited by Mark Miller in "Stopping Work and Then Staying Put," his excellent article for The New York Times, indicates "only six-tenths of 1 percent of Americans over age 55 moved across a state line in 2015."

Still, Boomers are adventurous and interested in other parts of the country and the world, so as Miller points out in his article, there are plenty of sources proclaiming the best places to retire. The Milken Institute, for example, considers 381 U.S. metropolitan areas and ranks them for retirement suitability. The annually published Global Retirement Index ranks twenty-four leading countries for retirees.

Retirement expert Bert Sperling tells Miller there are some 40 surveys done of best places to retire, but he advises Boomers that they may not be picking a place and staying there forever. "There are really three stages," Sperling says, "a 'go-go' period where you're very active and seeing the world, then a time when you're slowing down and need more health care resources, and then a third where you really need to be cared for."

My wife and I, after more than thirty years of living in Boston, Massachusetts, decided to relocate to Asheville, North Carolina. We did so just as our daughter was going to college. We were tired of the Boston weather and wanted to downsize. After eleven years in Asheville, we have been happy with our choice. Just about everyone we've met in Asheville, most of them Boomers, relocated from somewhere else.

Relocation at retirement is obviously a very personal decision, and some of the reasons for relocating can be compelling. Some Boomers relocate to move closer to adult children, other family, or life-long friends; others move to change their lifestyle; still others may want to experience an entirely different culture by moving to another country. Before we made our move, we did consult a source of "best places to retire" and carefully evaluated cities and towns in the U.S. based on our needs and wants. For us, Asheville kept coming up to the top of the list.

Whatever your decision, do your research and make several visits to potential retirement locations so you really get to know the area before you commit to a move. 


Is Coaching or Consulting for You?

OnYourOwnThink about how much intellectual capital is lost when an experienced employee leaves a company. That person has developed a knowledge base, the expertise, and the stature to work as a high-level professional.

If you have been fortunate enough to hold such a career position, chances are your value in the marketplace can apply to a potentially lucrative, flexible second career: coaching or consulting. Writing for Harvard Business Review, Dorie Clark, author of the book Reinventing You, offers some excellent advice in "How to Become a Coach or Consultant After You Retire."

Clark recommends giving yourself plenty of time to make the transition from your full-time job to becoming self-employed -- as much as a year or more. She recommends conducting a self-assessment skills analysis to determine where you need to improve.

Clark says it's a good idea to concentrate early efforts on recruiting clients, even if some are volunteer efforts: "To gain experience as a coach or consultant," writes Clark, "take on a few volunteer clients on the side, while you’re still employed, in exchange for testimonials and future referrals (assuming it’s a good experience)." She also recommends a sensible attitude toward marketing: "Recognize the goal of your marketing," Clark writes, "[is] establishing a baseline of credibility for when a potential client checks you out." And taking a break between your job and starting a consulting practice is not a bad idea, either.

Coaching or consulting is not for everyone, but it is certainly a viable option if you have both the depth of experience and the desire to run your own show.

 


Resources for Seniors - Regularly Updated

Have you noticed that the number of online resources available for seniors has blossomed lately? It comes as no surprise -- we Boomers are aging and we'll need all kinds of services. Information is free-flowing from service organizations and marketers who want to reach seniors. One of the best general resources is Next Avenue (http://www.nextavenue.org/). Be sure to subscribe to their free email newsletter. 

Here are numerous additional helpful resources on a wide variety of topics. This list will be regularly updated.

Mental Health and Coping During the Coronavirus Pandemic

Senior Health Resources

Benefits of Exercise for Older Adults

Boomer's Roadmap to Aging in Place

The Senior Citizen's Guide to Moving
Moving Tips for Seniors

Tenants Guide to Senior Rentals

How to Downsize for Retirement

Financial Resources for Seniors

Financial Resources for Older Adults and Their Families from the CFPB

Digital Money for Seniors

14 Retirement Planning Strategies for Late Starters

Planning for the Future for Seniors with Special Needs

A Guide to Smart Home Tech for the Disabled and Elderly

Smart Tech for Seniors

The Fully Accessible Guide to Home Loans for People with Disabilities

Technologies for People with Disabilities

16 Smart Home Assistant Devices for Senior Safety

45 Free Apps for Seniors to Promote Independence

Socializing in Place: Tips for Older People to Stay Connected and Safe

Comprehensive Room-by-Room Home Safety Guide for Older Adults

Home and Flooring Modifications to Safely Age in Place

Guide to Smart Home Tech for Disabled and Elderly

A Guide to Home Safety for Seniors

Keeping Seniors Safe at Home

Home Modifications When Moving In an Elderly Parent

Senior Fall Prevention

Internet Scams

Internet Safety Guide for Seniors

Scam Protection Resource Guide

Senior Financial Scams: How the Elderly are Targeted

Online Safety Guide for Seniors

Veterans Benefits for Seniors

At-Home Services that Can Help Senior Veterans

Understanding a Veteran with PTSD

Legal Planning for Alzheimer's and Dementia

Alzheimer's and Dementia Medication Management

Dementia and Alzheimer's Facilities

Memory Care Facilities Search

A Senior's Guide to Computer Basics

15 Best Websites for Seniors

Video Games for Seniors

The Ultimate Guide to Spending and Saving Wisely During Retirement

Umbrella Insurance Policies

Nursing Home Resource Center

The Ultimate Guide to Hearing Loss

Guide to Alzheimer's and Dementia

Mild Cognitive Impairment Resources

Help for Seniors in Daily Living

Aging in Place: Renovating with Independence in Mind

Downsizing Your Home for Retirement? Incorporate These 10 Features to Age in Place Longer

The Importance of Home Inspections for Seniors Looking to Age in Place

Why Seniors Should Avoid Isolation

The Health Benefits of Pets for Older Adults

20 At-Home Hobbies with Health Benefits for Retirees and Older Adults

Sexuality and Aging: Your Guide to Maintaining Sexual Health

The Top 13 Anti-inflammatory Foods

Mesothelioma Cancer Guide

Mesothelioma Survival Rates

12 Ways to Advocate for Yourself as a Cancer Patient

Handling Coughs and Colds in the Elderly

U.S. National Directory of Senior Care Resources 

How to Start a Business: A Step by Step Guide

30 Jobs for Seniors: The Ultimate Guide for Going Back to Work

How to Explain Gaps in Employment

18 Passive Income Ideas

How to Make Money While Overlanding


Mourning a Career Loss

MusingsRetirement expert Kerry Hannon recently said this in an article that appeared in USA Today: "People go into mourning when they retire. Your whole identity is caught up in who you are and what you did."

I'm guessing many Boomers, especially professionals, can relate to Kerry's claim. Those of us who toil for decades in the same career reach a significant point of conflict as we enter our Sixties. Some Boomers cannot see retiring from a career that is so much a part of them, while others may be anxious to try something different but fear the unknown. If your career has defined you, what happens to you when you leave your career?

There is life after a professional career. Part of it is realizing there is a person underneath, not just a professional, who has interests, desires, and skills that may be applicable to other areas. Hannon says, "You're not reinventing yourself, you're redeploying. Maybe you're taking what you're good at and redeploying into a new arena."

Hannon suggests that Boomers who want to continue to work beyond retirement age (and research indicates almost half of us do) prepare for a post-retirement career. She advises a five-year plan to ready yourself for a new challenge. That's critical, writes Hannon, "because it'll give you time to test your new career direction, be it through volunteering or converting a hobby into a stream of income."

Her steps, which are described in the article, include soul-searching, doing a test drive, networking, researching, and getting your finances in order. This is smart advice; most Boomers prepared for their careers, so why not prepare for post-careers? Retirement planning is not limited to finances -- it also involves life and second career planning.

Read the full USA Today article, "Here's the New Retirement Goal: Love Your Job and Keep Working."