Just thought I should mention today (Thursday, 14 May 2020) is the 10th anniversary of my retirement from Pratt & Whitney Rocketdyne. I’m still not entirely sure it was the right thing to do (accept the early severance package they offered everyone over 60) but her I yam!
Tag Archives: retirement
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:
Job Loss/Reduction – 51%
Healthcare – 29.5%
Other – 21.6%
Unpaid Taxes – 12.7%
Divorce/separation – 8.2%
Bankruptcy – 6.7%
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.
I had a great two-hour meeting with the man who will be my new manager starting Monday, and to whom I’m deeply grateful for bringing me back to the company I lived at for over two decades. My feeling about returning is probably best summed up by an old friend/colleague who still works there. She commented on a Facebook post where I told my friends I had jumped through the final HR hoop, saying “Welcome home“.
I don’t know how many of you have been lucky enough to work at a place where you can feel that way, but I have. Despite the fact I worked for three of the larger, more (shall we say) staid aerospace companies – as parent organizations; mother ships – in no way diminishes the camaraderie, affection, and deep respect I felt for so many of my colleagues.
Also, I think I had a bit of an epiphany yesterday, a few hours prior to meeting with Geoff. I was thinking about how much hierarchy and command-and-control organization are anathema to me, when I realized that I also work best when I’m involved with a team. I need to be around other people from whom I can learn and share experiences with. It’s my nature. The latter is what gives me the strength to live with the former, and I always have the opportunity to make things better. That’s what I’m ostensibly there to accomplish.
These, then, are the continuing adventures of a 67-year-old man, prematurely retired by circumstances partly beyond his control, who now returns to approximately what he had been doing nearly five years ago. I’m really looking forward to this next part of the journey. I have also discovered I have a great deal of difficulty writing about the things I’m deeply interested in – the business concepts and practices I worked on before retirement and have carefully studied since then – if I’m not involved with them. I just don’t feel I possess the gravitas sitting in my home office that I will have when I’m out there actually working with a group of people to make things happen. I think this move is going to change, if not improve, my blogging and posting habits. Time will tell.
Truth to tell, I never wanted to retire. I grew up around men who worked until they dropped dead and I had every intention of doing the same. This was especially so because I wanted to be part of humanity’s return to the Moon and our venture to Mars. It looked like that was not to be when the Space Shuttle program was winding down and those of us working on the Shuttle main engine (SSME) – and other rocket engine programs – who were over sixty were offered a decent severance package, which I accepted. I believed it was the best of several not optimal choices.
Today I received a package from the agency that handles contract workers for what is now Aerojet Rocketdyne, and it looks like I will be brought back and will have the opportunity to be a small part of our space program once again. This is no small thing for me, as I have long considered it an absolute necessity for humans to establish not merely a technological, but especially a cultural presence off this planet; if for no other reason than the statistical certainty there will be an extinction level event before long. As long as the only presence we have is on this rock, it becomes a binary event. Having at least a seed colony elsewhere could make all the difference in terms of our ability to come back from such a catastrophe.
To say I’m excited is a bit of an understatement. I had pretty much come to the conclusion it wasn’t going to happen and I’m quite capable of dealing with that possibility. Assuming it works as planned, though, is like a lagniappe; an extra helping of dessert I wasn’t expecting. To think it came about because of a chance conversation with an old colleague at an event held by our children’s elementary school is really sweet.
I should also point out I am only going back as a temp, a contractor, and I have no reason to expect this employment will go on for long. In fact, I’m hopeful it will turn out to be more part time, but on a long-term basis, if that’s at all possible. I like some of the other things I’ve become involved in and I have a few obligations I need to conclude as well. l believe it can all be worked out in the next couple of months. I know I’m committed to making that happen. I hope everyone I’m working with is flexible enough for this to be a good thing for all of us. There’s nothing like the ol’ win-win.
Last night’s dinner at the Simi Valley Senior Center, organized by my Rotary Club, and for which I was a co-Chair, was a resounding success. There were a few less people than the past couple of years, but we still fed around 350 – 400 seniors, plus a ton of volunteers. It is so gratifying to see so many people come together to make something happen like this and, truthfully, it is all the Thanksgiving I need.
Today will be a lagniappe; a little something extra; a little more than I need or have any reason to expect.
I have so much to be grateful for. My family and, especially, the two beautiful girls without whom my life would be so much poorer (though I’m having some doubts about the 13 y/o 😉 ). My wife, Linda, who puts up with my volatility, especially since I retired from the job I expected to work at until I dropped dead at my desk. My life after retirement, which is slowly resolving into something considerably different than I thought it would, but that I’m settling into rather comfortably. The wonderful people I’ve had the opportunity to work with and learn from. My numerous friends, both irl and virtual, whose sharing, comfort, and kindness have kept me from despondency and buoyed my spirits when things weren’t looking all that good, and who have also helped me continue to grow as a human being.
I’m also grateful for the ability to think critically and the strength to seek out the truth and accept its lessons, no matter how challenging or harsh they may be, without losing faith or diminishing the love I feel for the human race and this beautiful world we live in.
Happy Thanksgiving, my friends. Be well, be strong, be faithful to the truth. Much love and respect to you all.
OK — I’m lying about the six ways and the lists. I couldn’t help myself. I had just been perusing the Pulse articles available on LinkedIn and was amused by how many of them contain lists, e.g. “7 Ways Leaders Fail”, “The 8 Simple Rules Of Expert Negotiation”, “3 Traits Shared By Companies And Hoarders”, “The four types of clients you should fire immediately”, “12 Email Marketing Credibility Boosters”, etc., etc., etc. I could go on for some time, but I won’t bore you as much as I was. I know I’ve read somewhere that lists are a great way to create posts and get people to read them. Nevertheless, I tend to shy away from using that strategy because it seems so formulaic to me, and I’m not interested in taking that route.
I know I should have written this earlier today but, as I’ve noted numerous times before, I’m not a journalist and I don’t do this as a business, so I have never been all that interested in an editorial calendar or lining up my posts perfectly with anything in particular. Nevertheless, today is a bit of a milestone and I thought I should mark it with a bit of possibly rational blather.
It’s been exactly — datewise — four and one-half years since I retired from Rocketdyne, where I labored for approximately 23 years. My last day (though, to tell the truth, I had been working at home and nobody expected much from me for the final two weeks I was officially “there”) was May 14, 2010. I can still vividly recall my final moments; being walked to the guard at the front reception area, handing in my badge, saying goodbye and shaking hands with my Manager, and walking out the door knowing I could not walk back in beyond the reception area without an escort.
I felt both elation and sadness. I threw my arms up in the air, but had tears in my eyes. Both emotions were warranted, as the last four and a half years have made quite clear. It’s not an easy thing walking away from a large group of people who you’ve come to think of as almost family and, make no mistake about it, once the main thing you have in common with them is gone, most people essentially disappear from your life forever.
For me, this has been the hardest part of retirement. While I’ve stayed in touch with a few of my former colleagues, some of whom remained and others who became casualties of our nation’s decision to essentially forget about space exploration (at least manned space exploration) for what still seems like forever, the majority of people I saw on a regular basis I have not heard from again. There’s also a sort of mid-range group who I’ve connected with via Facebook and LinkedIn, but I’ve had little contact with most of them.
I think this is a big problem with our entire concept of retirement. In our culture it seems once you retire, you might as well be dead. The place you worked at has no use for you and, since we are also a culture that celebrates youth and fears old age and death, nobody really wants to know what you’re doing. A possible exception is made for those people who worked at one company all, or almost all, of their life and, consequently, retire with enough money to not have to do anything to supplement their income. Remaining employees do seem to enjoy receiving the occasional postcard from an exotic location, or another reminder of what they, someday, may be able to do as well.
I’m sure there are those who thoroughly enjoy hanging out and doing whatever they want, or nothing at all. I’m not one of them. Bottom line, I guess, is this. I have managed to survive relatively well, though I have yet to find a way to supplement my income such that we’ll be reasonably comfortable for the foreseeable future. I do worry about what might happen in a few years when our income suffers from inflation or some disease or unfortunate turn of events depletes what little savings and investments remain.
I also worry about my physical and mental ability to generate income. At 67 years old, it’s difficult to not notice I’m gaining speed on that inevitable slide down life’s rollercoaster. Nevertheless, I’m not one for fretting too much about choices I’ve made. I’ve been characterized by others as a survivor; one who will find a way to make things happen. Especially when push comes to shove and I’m backed into a corner. I don’t actually want to reach that point, so I’m working on quite a few prospects and avenues.
In another six months it will have been half a decade since I left the place I had been at longer than anywhere save this planet. I’m looking forward to celebrating that occasion a little more energetically. If I’m lucky, I’ll be able to afford throwing a little party for some of those former colleagues who remain friends. That would be a hoot.
After my retirement, I determined to make this blog one in which I could write about both professional topics and personal topics, which meant I would share my thoughts about the many things I find of interest. It also meant I planned on writing about my feelings and experiences over the years. It hasn’t been easy, as I’m quite certain some of my thinking is not mainstream and — in some cases — is certainly frowned upon by some sizeable chunk of the population. Nevertheless, I keep plodding along and, in that spirit, I share here something I posted on Facebook recently.
Two things brought me to tears the other day. The first was the ending of the current episode of Cosmos: A Spacetime Odyssey. Just knowing what has been accomplished by my fellow human beings; the incredible discoveries and wondrous inventions that have accompanied our ever-growing knowledge of the workings of the universe takes my breath away at times. The other evening was one of those times. They were tears of ineffable joy.
The second was being reminded of the terrible injustice wrought on the Japanese people who were living in the U.S. when Pearl Harbor was attacked. My mother-in-law and sister-in-law, as well as many of my wife’s extended family, were “relocated” in internment camps. Many lost everything they had worked so hard to accomplish, much of it never to be regained. They were not the enemy . . . and they did not deserve the treatment they received, nor did those who stole their property deserve what they gained. These were tears of inconsolable anger and shame.