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Category Archives: Retirement

How Seniors can Cope with Financial Stress

A little while back I received an email from a woman who had come across this blog and, specifically, had perused posts tagged with the word “retirement.” She wrote me that “a combination of my father being downsized in his 60s and my mother falling ill have combined to seriously affect their financial planning for retirement and has exacerbated their health problems. They have inspired me to write a guide for seniors and their families about the most common causes of financial stress, how it affects the person, and provide some coping strategies.” She provided a link to the guide she wrote and asked if I would consider posting it, along with an intro she wrote for it.

I said I would be glad to consider it and she wrote back with the following introduction, which I’m just pasting in, below. I’ve gone over the Guide she wrote and am providing her info here as a service to anyone considering or preparing for retirement, or for anyone who just might be interested in what to expect and, perhaps, how best to plan for one’s eventual exit from the workforce. What follows come from Ms. Jenny Holt.

PS – I will offer one observation. The site her link points to is called “Reverse Mortgage Alert”, which I have to admit raised a red flag for me. I’m not a fan of the concept, at least not as I’ve learned it is frequently practiced. However, after reading some of the info provided there, I do believe what they have to offer is useful information. They are not “pushing” reverse mortgages. Rather, they seem to be intent on providing useful information that anyone seeking to make a major investment move, especially with the home they’re living in, should take into account. If you have info that proves this wrong, I’d really appreciate hearing from you. Thanks.


With more limited access to financial services and often post-retirement, a money problem for seniors can be magnified more than for other age groups. While many have saved or invested in property and pensions, there are common causes of financial issues for the over 55s. These include:

  1. Job Loss/Reduction – 51%

  2. Healthcare – 29.5%

  3. Other – 21.6%

  4. Unpaid Taxes – 12.7%

  5. Divorce/separation – 8.2%

  6. Bankruptcy – 6.7%

  7. Foreclosure notices – 5.7%

The onset of stress can cause a range of emotional and physical problems which may exacerbate any health-related financial issues. These include insomnia, headaches, chest pains, anxiety, and depression.

However, it is more than possible to mitigate these issues. Of course, finding a solution to the financial problem in the first place is preferable. That being said, clearer and more focused decisions can be made with the right approach. Many seniors find stressful situations easier to cope with by combining a better diet with more exercise and meditation.

There is more to learn about this issue and more information can be found in the full Senior Financial Stress Coping Guide.

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Living Out Loud

Lanterns afloat

My intent is for the act of sharing to be liberating for me . . . and informative for others.

I decided to celebrate my birthday this year by doing something I may regret. No, I’m not taking off to Vegas with $5k and a desire to lose my inhibitions completely, nor am I going to see if I can find some Window Pane or Orange Owsley and relive the late sixties. I’m going to delve a little deeper into what I see as a corollary of something I’ve been writing a little bit more about lately . . . working out loud. The corollary is . . . living out loud. Let me explain.

Working out loud is about finding ways to work where not merely the fruits, but also the cultivation, planting, and meticulous care and grooming of those fruits are conducted in a manner that allows others to follow along, perhaps contribute somewhere along the way. It involves activities such as moving conversations away from email and into other forms of internal communication; e.g. micro-blogging, wikis, other types of social networking/communicating/collaborating tools, etc. I have found from experience it is not an easy thing to do, even when you are a wholehearted supporter of the idea. The entire ethos of our work culture militates against it and, for some, it’s downright dangerous and heretical.

Living out loud, however, is something a little bit different. I’ve never had to do an activity report though, come to think of it, as a kid I did have to face my father’s wrath when I forgot to do one of my chores. Now, however, I’ve retired from the last place I had a regular job at, so nobody much requires me to report to them. I do have some activities I’m involved in where I keep people apprised of my efforts and progress, but it’s not the same as when I worked at Rocketdyne. Anyway, in an effort to share a little more of me, here’s my first formal attempt. I posted the following on Facebook first.

This is the first birthday I haven’t much looked forward to. Although it seems not to mean all that much, since some time in April I am seven years older than my father was when he died. I think about it, because I grew up being told I was “exactly like your father”, especially when I did something untoward or displeasing to my mother. Medically, although my experience is not like my father’s, I am nonetheless in uncharted waters. It’s a situation both my daughters will likely have to deal with their entire lives.

Also, this year I will be closer to 70 than to 65. I am entering my dotage and, frankly, my worry isn’t for me. If it was just me and Linda, I think we’d be fine. We’d get along OK. However, we have two young girls to care for and see into adulthood and sometimes I fear I won’t be there for them much longer. I’m not yet losing any sleep over it and I surely don’t plan to, but the thought I could be gone any day has a little more power than it would have even 10 years ago.

I also think the feeling was somewhat exacerbated by the sudden loss a couple of weeks ago of a long-time friend who was a half a decade or so younger than me. I was deeply affected by her loss and I’m quite certain it’s still haunting me a bit, though I don’t consciously think about it that much.

I know a few of my friends are older than I am. If you’re reading this and you’re older than me, please take pity on me.  I’m a relatively new old man. It takes some getting used to and I’ve also kind of determined this is one hell of a good place to leave some stuff for my kids. It’s why I welcomed the Timeline when it was introduced, and why I’ve uploaded some pictures I have that were taken before digital pics existed.

Sorry if I’m bothering or boring anyone. I’m experimenting with living out loud. Your mileage may vary.

 


What Goes Around . . .

It’s been nearly three years since I “retired” from Pratt & Whitney Rocketdyne. I’ve been through several iterations of “What do I want to be when I grow up” and I think my latest incarnation is actually working! I’ve given myself until the end of this year for it to prove out to be a viable trajectory, at least for a few more years while I still have to tend closely to my children. You can read my most recent self-assessment/self-promotion at LinkedIn.

Additionally, some of the seeds I planted a while back may be sprouting, which would be really satisfying and might steer me comfortably toward another line of work I can enjoy.

It seems understanding Social Media’s role, both inside and outside the corporate firewall, wasn’t a terribly interesting subject for most organizations and, despite my zeal, I couldn’t get the traction I needed to do what I thought made sense. Equally, at least here in Simi Valley, small businesses have had a very hard time – as a whole – seeing how social can be used to promote their business or organize their work a little more effectively. I need to say . . . there were lots of opportunity for being a charlatan and raking in some dough or for doing something I didn’t really enjoy just to make money. I’ve chosen not to follow those paths, so the challenge has been finding – again – who and what I want to be or, more accurately, continue becoming. Being frugal’s been kind of important as well. 😀

It’s important to note there are lots of large organizations who recognize the value of social for reaching out to, and communicating with, their current and potential customers. There are fewer, in my estimation (disclosure: I have not researched the numbers. I have, however, been observing for a long time) that appreciate the value of social to build community inside the firewall, let alone in the space they share with their suppliers/vendors.

At any rate, I haven’t given up entirely and I was gratified to be contacted by someone who interviewed me on the subject nearly 2 years ago. He asked if the audio could be used in a couple other blogs and sent me a link to it. Frankly, I had completely forgottenI did the interview. Also, inasmuch as I am now doing some editing/proofreading professionally, I was a tad dismayed to read the copy that accompanied it, and I’ve asked for the opportunity to proofread these new publications prior to publication. I don’t believe I  had that opportunity with the first publication, which can be found here. Below is the Vimeo audio file with my interview. I don’t think I made a fool of myself. I’m hoping I actually make more sense today than I did back then. I’m gratified Dustin felt it was worthy of being repeated.

PS – I may no longer be a Chief BooMillennial Officer, but I do think I’m still an Emergineer and definitely a Serendipity Wrangler.


Coloring Outside The Lines

Still Life With Garbage

Still Life With Garbage

Truth to tell, I have lots of interests. I have often referred to myself as a professional eclectic. Many years ago I was a reasonably accomplished photographer; even spent quite a bit of time in the darkroom. I think that sentence ages me.

It’s been years since I’ve been serious about it, but I really want to work more with photography. As I stated in my last post, I also want to get back to blogging more frequently. Now that I have an iPhone I think I’m going to do both a lot more.

So . . . What I’m doing with this post is using the WordPress app on my iPhone to share a picture I took with my it. I’m hoping this becomes easier and easier because I’m also dictating the text for this post.

I was moved to take this picture because of the two forlorn strawberries I saw in our little sink garbage collection. They must have been lost in the back of the fruit drawer; they were all dried out and had a little mold growing on them. I thought I would memorialize them and, here they are. I know, it’s no masterpiece and neither is this post. Like I said, I’m experimenting.


The Debates: S/S & Medicare Off The Table?

Social Security Cards

Truly a Lifesaver for My Family

I am 65 years old. An old fart. A geezer. An alta cocker. Two years ago I accepted an early severance package from the company I was working for, in part because of my eligibility to receive Social Security and Medicare. They played a big role in my decision to accept the package, which wasn’t mandatory. There were other reasons, but I did the math and decided not to pass it up.

I have worked since I was sixteen years old (I’m one of those whose first job was at a McDonald’s) and, save for a couple of years I spent screwing around, I’ve been putting money into both these retirement programs most of my life. How, and in what manner, they get screwed with by either Mitt Romney or Barack Obama is of paramount importance to me, not just because of how my family and I will be affected, but how it will affect those who come after me.

I just learned that the questions to be asked in the first debate have been announced and neither of these programs are currently planned to be discussed. WTF? Virtually everyone in the country will be affected by any changes to them. Whether it’s making what those of us currently receive more difficult to obtain or diminished in value or changing the entire structure for those who have yet to reach a certain age, it’s important to know what the candidates plan on doing.

My concern is with both candidates. We all know what Mitt Romney and Paul Ryan want to do. However, The Huffington Post three days ago ran an article entitled “Obama May Do Social Security Reform During Lame Duck Session, Senate Democrats Worry

Well, you can make a difference by telling Jim Lehrer to include Medicare and Social Security in the debates. Thanks to AARP, all you have to do is Go Here and fill out the form. You’re a leftie. You know the drill. I did it. I also tweeted about it, posted about it on FB, and sent an email message to about 50 of my closest friends, a half dozen of whom have already done the same.

This is an exceptionally important issue for all of us, even those Tea Bagging dipshits who don’t know which side of their toast the butter’s on. Do you want your retirement to be left to the vagaries of the market, especially when you know it’s crooked as hell and likely will steal much of your savings from you? Maybe we can fix it in the next decade, but I sure as hell wouldn’t be holding my breath. Hell, before I was 30 (that’s more than three and a half decades ago) I thought there was going to be a revolution in this country. Actually, there kind of was, but it went in the opposite direction from where I thought it would.

Think about it; then do something about it. Send a message. We want Romney and Obama to talk about how they plan to deal with Medicare and Social Security. Act like your future depended on it. Until we achieve a more just economy (hint: Socialism), this is the best thing we’ve got. Here’s the link again. Take it from me. These two programs are extremely valuable and important.


Rocketdyne Gets Snubbed Again!

Endeavour's Final Mission

The SCA, Endeavour (OV-105), and chase plane shortly after departing Edwards AFB

I must admit to being a little mystified that NASA hasn’t chosen to fly over and salute Rocketdyne today. Every main engine that powered every Shuttle flight into orbit was designed, manufactured, and assembled primarily at the Canoga Avenue campus. I know they couldn’t fly over every place where components were made in the country, but they’re flying over the freaking Hollywood sign and Universal Studios! Rocketdyne’s campus is just a few miles to the Northwest of those locations. How hard would it have been?

I have often lamented the fact that Rocketdyne never saw fit to advertise itself much. Whenever there was a launch of an Atlas or Delta vehicle, the vehicle manufacturers and integrators always had their names and logos prominently displayed. I am willing to bet very few people in this country even recognize the name Rocketdyne. Do they know every American Astronaut (other than those who’ve flown on Russian missions) was lifted into space by a Rocketdyne engine? I doubt it.

Mercury, Gemini, Apollo. All those flights were powered by Rocketdyne engines. The Lunar Excursion Module (LEM) was powered off the Moon’s surface by a Rocketdyne engine. The Space Shuttle Orbiters would never have made it to LEO were it not for the Space Shuttle Main Engines. The SRBs (Solid Rocket Boosters – or Motors, SRMs) only burned for 126 seconds before separation from the vehicle stack. The Main Engines continued burning for approximately six more minutes, depending on the mission. The SSME was – and still is, as far as I’m aware – the only reusable and fully throttleable rocket engine ever designed and flown.

Anyway, today marks what for me is a very sad day. It should be sad for all of us, IMO. This is the final flight (albeit strapped to the back of the SCA, a specially modified 747) of the last of the Orbiter Vehicles that served us for well over two decades and, unfortunately, we currently have nothing to replace it. The ISS is still on orbit, but we now have to hitchhike there aboard Russian rockets. There’s really no way to tell how long it will be before we return to space.

It also reminds me that I was put out to pasture, though nobody’s suggested ensconcing me in a museum 🙂 I didn’t realize how much retirement would affect me. I’ve enjoyed having time to be with my children, who are eight and eleven. I’ve also enjoyed working at building a modest service business supplying social media marketing for small businesses. However, in this economy that has turned out to not be a very useful business model and, once again, I find I must reinvent myself. Today I’ve decided to wallow a bit in my grief. Grief for the symbolic end of the Shuttle program, on which I labored for over two decades and grief for the symbolic end of my usefulness as a human being, which is what retirement sometimes feels like.

Rocketdyne Logo

The Original Rocketdyne Logo

One more thing. In my opinion Rocketdyne deserves better. I know people whose entire lives were dedicated to the space program. They worked tirelessly; lived and breathed the concept of space travel and exploration. And those engines played a major role in putting Endeavour (OV-105) on orbit. Just sayin’.


A Less Than Auspicious Anniversary

I have an interesting anniversary arriving in about a week. Actually, it arrives in precisely a week; seven days, that is. May 14, 2012 will be two years since I retired from Pratt & Whitney Rocketdyne. Two years. It hardly seems that long ago I decided to accept an offer to retire early and strike out on my own. To be honest, I’m still not sure I made the right choice, but I did make it and I thought I would spend the next week recounting my “adventures” since then.

Does Retirement Have to Mean "Used Up"?

Does Retirement Have to Mean “Used Up”?

I should point out my retirement wasn’t entirely voluntary, though the choice was mine. I had no intention of retiring . . . ever. All the men I grew up with, including my father, worked until they dropped dead and, unfortunately, many of them – including my father – dropped awfully early. This was not my plan. The way I looked at it, work is what defines us and I expected to have something interesting to do for many a year to come. I though I would work at Rocketdyne well into my eighties.

It didn’t work out quite like I had contemplated, but it has made for an interesting two years and, I trust, will continue to provide challenges for years to come. However, it hasn’t exactly been easy . . . for many reasons. First, there’s the reality that my income has dropped considerably and we’ve been moving backward a bit each month as expenses slightly outpace income. Savings are really helpful, but they’ll be gone at the rate we’re going before the kids make it to college. This I find intolerable.

To remedy this I’ve tried, admittedly somewhat halfheartedly, a couple of different approaches I will attempt to chronicle in the next couple of days. My first attempt was to provide consulting services to small businesses seeking to use social media to market themselves and teach them how to engage with their target – and current – markets. Not only did the economic conditions militate against my being able to find success in the market I plunged into, but the very conservative nature of this town ensured people were not going to be easily convinced of the efficacy of a social media strategy. I was not prepared for their skepticism and reluctance to push the outside of the envelope. My bad.

One of the adjustments I have made is to lower my expectations considerably and work from there. This includes, of course, adjusting the rate I can charge for my services. I’m working at finding the sweet spot for that part of my endeavors.

Another major aspect of this milestone is that I will be 65 years old in less than a month. As prepared as I’ve been to accept, and even embrace, the inevitability of aging, I am still struggling with aspects I had not anticipated. I will try to go further in depth regarding these aspects in the next week. Suffice it to say that ageism is, I’m pretty sure, still very much a part our culture. The combination of reality and myth is very powerful and impinges on most everything I do. I’ll try and discuss my approach to aging and what has changed for me in the past several years tomorrow.

 


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