Maurine Patten
 
 
 
Baby Boomers: 6 Major Issues You Need To Address In Retirement Planning
People are retiring earlier.  The average age for a first
retirement is 57.5 years. According to the latest
statistics, if you are in good health now, you are probably
going to live another 30-40 years.  If you are like most
people, you planned for previous stages in your life.
Retirement is no exception.
 
What are the six major issues you need to be considering
before you retire?
 
1.  More than any other age group, Boomers are concerned
about having a purpose during their retirement years.  A
purpose (goal) gives you a sense of meaning which
contributes to your overall well-being and happiness.  The
challenge is to focus on who you are instead of what you do.
 
2.  Now is the time to discover the things you feel
passionate about, that you find engaging and meaningful.
How you choose to spend your retirement years will depend
on the choices you are making as you approach this next
stage in your life.
 
3.  The timing of when you retire can be critical.  To
determine when you will retire, reflect on who you are
(your strengths and values) and what you want during
retirement.  Your experiences over the years, the knowledge
you have gained, and self-awareness you have developed will
help you make your decision.
 
4.  Financial planning is one of the two main pillars of
successful retirement.  Because of the changing financial
scene, there are three areas for you to consider for your
financial plan to be solid:  Social Security, employer's
pension plans, and your personal savings.  Discussing your
financial needs with a financial planner is highly
recommended.
 
5.  Once basic financial needs are met, other issues become
more important.  Your health is the second pillar of
retirement.  This is a time to learn more about wellness
which includes making yearly physical, dental and eye
exams. It also means making good choices
 
 
                                   about nutrition,
managing stress, moderate physical exercise for your body,
and mental exercises for your brain.
 
6. Some relationships change during retirement.  If you end
your career, you no longer have the built-in contacts with
people you would see on a daily basis.  It is a time to
build new relationships and cultivate a deeper relationship
with your spouse, children, grandchildren, and other
significant people in your life.
 
This is a critical time in your life.  Planning helps you
maximize the unlimited possibilities and fulfill your
purpose.  Your journey will be unique to you.  Make it be
all that you hope for.
 
 
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Maurine D. Patten, Ed.D., CMC, Maximize Your Possibilities
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