Unretirement Project

Retirement Redefined

Loved Ones Must Know Your Health Care Wishes

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wall art heart showing for health care let all you do be done in love

I’m sure that no one wants to read today’s article, but I’m hoping you will. 

This is not an “older person” article. It’s also not a “pandemic” article. It’s also not about having a will – although that’s a good idea. It’s not meant to cause alarm or panic. But if there was ever a time to say to ourselves, “If I got sick, do my family and friends know my health care wishes?” now would be that time. 

I’m saying this a bit tongue in cheek, but when Buzzfeed…you know, Buzzfeed as the source for all of those cutesy quizzes that fill our Facebook page…when Buzzfeed publishes an article titled “The Four Legal Documents that Everyone Needs to Plan for Their Future”, then pay attention. I don’t want to give the whole article away, but here are three of the documents they mention:

A living will is a written statement detailing how you would like your medical and health care treatment to be handled in the event that you’re unable to express it yourself. 

A healthcare proxy is a document that says who can make healthcare decisions on your behalf, when you’re not able to do so. 

A power of attorney is a written authorization for someone to represent you or act on your behalf when it comes to business or financial affairs. 

As you can see, these documents are very inter-related. It might take some time to figure out how you would like your health care treatment handled and who you would like to be your spokesperson. You also have to figure out if the person making the decisions about your medical treatments should be your power of attorney. And then of course, there’s the decision of backups in case your first choice isn’t willing or able to take on this responsibility. 

The point being, the process of putting these documents in place takes time. It’s also recommended to have an attorney create these documents for you, so you have to budget for that. The ideal time to do all of this is when you’re not under the pressure of having to do it. This requires careful consideration.

I’ve probably mentioned this before, but my father-in-law was the ultimate planner when it came to his health care and final wishes. He talked to us for years about it. When his health started to decline, we all knew his wishes and there were no questions. There were no squabbles amongst family members about decisions. Everyone was focused on the same things. 

As a result of COVID-19, I have a few friends who have already begun conversations with their children about their medical wishes should they become ill. I realize that no one wants to do this. But it can be a big relief to everyone to have these health care conversations and draw up these documents so there’s no confusion about what to do and who will be in charge of decision making. 

Image captured by Sharlyn Lauby while exploring the streets of Gainesville, FL

Retirement Planning Bot: A Unique Solution for Unique Times

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wall art bot representing a retirement planning bot

We’ve all seen the terms recently – unique, unprecedented, even surreal or seismic. Whatever you call these pandemic times, most of us can agree that they often require equally anomalous ways of dealing with them. Depending on how close you are to retirement, that could apply to your retirement planning too.

I was excited to see that Michelle Singletary, personal finance columnist for The Washington Post, has introduced a retirement planning bot to “see us through the coronavirus pandemic and beyond”.

If you aren’t familiar with bots, they are software applications which are programmed to complete certain tasks. In this case, the bot collects information about your financial situation and retirement plans and makes recommendations relative to both. I had the opportunity to run through the bot program and see first-hand some of their suggestions.

The good news is that this is all completely anonymous. While they ask specific questions about your finances, they don’t know who you are, and they don’t save any of your information. Along the way, you can hear advice and commentary recorded by Michelle. I’ll be candid: I didn’t always find them helpful, but I thought they were good reminders and could offer a little effective guidance, particularly for some people who may be early in their planning.

On the downside, the program doesn’t factor whether you’re planning as an individual or a couple. That can make a huge difference when they ask for retirement or bank account balances and earnings. The bot also doesn’t ask your expected retirement age. It just makes the assumption that you will retire as soon as you reach the age for full Social Security benefits.

The best thing about this particular retirement planning bot is that it provided a step-by-step guide with as much hand holding as you can expect from a robot program. And there is a little encouragement along the way provided you are doing something to fund your retirement. They even have some FAQs at the end.

A couple important things to focus on:

  1. This is not a replacement for your professional financial advisor. A single source of information is rarely enough for something as important as retirement planning.
  1. You may not agree with the assessment of your financial situation and your retirement plans. That’s okay. It doesn’t mean you are doing a bad job of funding your retirement.

I think the best way to view this tool can be found in their own description:

“We may not be able to capture everything about your financial situation, but it’s a place to start”.

Many people are very concerned about their financial situation right now regardless of when they plan to retire. This retirement planning bot may help relieve some of the stress as you think of future plans. Who knows? You may just be better off than you think. And, if not, you could get some ideas on how to get back on track.

Image captured by Sharlyn Lauby while exploring the streets of Fort Lauderdale, FL

Job Seekers: The 7 Skills You Need For Your Search

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job seekers skills for new job

Job security is on people’s minds today. We’re all seeing the same news about unemployment rates at historic highs. Whether you’re one of the job seekers currently looking for a new opportunity or not, it does make sense to always be thinking about your career and what options you have. 

One of the most important aspects to consider is how you would go about a job search. Let me dish out some tough love here . . . a job search in today’s technology driven world may require a unique approach. Here are a few skills for job seekers to consider:

  1. Goal Management. Careers are about goals. It might be to work for a certain company or in a specific field. You could have a goal to achieve a particular job title (like vice president). We also have career goals surrounding compensation, benefits, and perks. Or maybe the goal is to learn something like “graduate from the Culinary Institute of America” (also known as the CIA). Once we achieve one career goal, then we set another one. 
  1. Organization. We achieve our goals through planning and preparation. It’s possible that, to achieve some of the goals mentioned in #1 (goal management), job seekers need to save money, schedule time off from work, or take some classes. This could involve doing some research. For example, if one of your goals is to obtain HR certification, then you might need to research the requirements, ask your boss for reimbursements, schedule time to study, etc. All of this takes organization. 
  1. Prioritization. I wish I could say that once we set a goal, that’s it. But it’s simply not true. Fortunately, and unfortunately, we have other opportunities present themselves. Some of them won’t sway us from our goals. Others could be so tempting that we need to evaluate them alongside our existing goals. Understanding priorities is incredibly important in figuring out which path to pursue. No one wants to miss out on a once in a lifetime opportunity because they didn’t have their priorities established.
  1. Networking. Speaking of opportunities, you’re not going to get them if you don’t network. I know virtual networking can be hard, but job seekers have to find ways to stay connected. It’s one of the big pluses of social media. Having a network is critical for career development. Your network can help you find new job opportunities. It can also serve as an informal board of advisors. So, being able to build positive trusting relationships is the cornerstone of your future career.
  1. Curiosity. It’s possible that we will miss out on building relationships with interesting people and being a part of exiting opportunities if we’re not curious. I totally agree that there’s no rule that says we must say “yes” to every request but listening can be very beneficial. It can present us with options we never thought of AND it can confirm that the goals we’re currently pursing are the right ones. Understanding our priorities (see #2) can help job seekers constantly re-evaluate the new options being presented.
  1. Risk-Awareness. At first, I had labeled this paragraph Risk-Aversion, but then I changed it. Because it’s not always about taking fewer risks. Sometimes our careers will require us to make bold moves – maybe a relocation or an extra assignment. It’s about understanding the risks associated with the decision and being okay with them. It could also involve having a Plan B (see #1 – goal management) available in case you have to make a change in plans.
  1. Communication. Of course, you knew communication had to be on the list, which is why I made it last. All of the skills we’ve discussed involve having excellent communication skills – both verbal and written. You might want to journal your goals to remain focused. Or chat with a family member or mentor about the risk and rewards associated with a new opportunity. Either way, being able to communicate clearly AND being able to truly listen to feedback and guidance from others will be valuable.

While this list of skills might impress an employer during an interview, that’s really not what it’s for. It’s designed to be a reminder that, whether you’re currently an employee or one of the job seekers, you need to have some ownership of your search. And these are the skills that will help you be good at it. 

What We Are UP To – The New Normal Edition

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brain cramp zombie poster on bus stop implying the new normal

This month we’re watching states relax shelter-in-place restrictions. I will admit that while it’s nice to see places reopening, I’m not sure we’re completely ready to resume all of the activities that we were planning before COVID-19. So, this month, we’re getting ready for a new normal – at least one that we believe will last for the next few months. 

Watching | The Mandalorian

> I’ve never been a huge Star Wars fan, but I have seen the movies. After all the Baby Yoda news, we broke down, ordered Disney+, and watched The Mandalorian. The Child (aka Baby Yoda) is adorable! I’m a fan. This will definitely be a part of our “new normal” viewing schedule. 

Reading | “Love Your Age”

> This was the perfect time for me to pick up this book. Author Barbara Hannah Grufferman gives readers an actionable, practical list of things we can do to feel better about ourselves and live a healthier life. I particularly liked the “master cheat sheet” at the end of the book with tips for things we can do daily, weekly, monthly, and annually. It’s given me some ideas about activities that I should incorporate into my new normal. 

Remembering | Road trips

> I ran across an article in Lifehacker about “Why You Still Need to Drive Your Car a Little If You’re Quarantined” and it reminded us that we need to figure out how to do this. A dead battery is not any fun. So, Keith and I took a road trip to a nearby small-town with a roadside restaurant famous for their barbecue. We ordered online, took a drive, and the restaurant brought it out to the car. The Q was delicious, and the road trip was just what we (and the car) needed. 

Working On | Sourdough starter

> Yep, we jumped on the “make sourdough starter during quarantine” craze. I’m not sure how this kitchen science experiment will turn out, but it has been fun. We’ve researched all sorts of recipes to understand the science of sourdough. And we had to find lots of uses for sourdough starter discard. The best so far? Sourdough peanut butter cookies.

Feeling | Comfortable with face coverings

> I must admit the first couple of times that I went outside with a face covering, it was odd. The face covering doesn’t hurt, and it doesn’t seem to fog up my eyeglasses too much. It just takes some getting used to. Personally, I think I will be wearing face coverings for a while, so I’m thinking about having a small (very small!) collection. That will allow me to always have one available. 

Planning | Meatless meals?

> Is anyone else out there wondering about meat shortages? I’ve been in a few grocery stores over the past month that are limiting meat purchases. The news is talking about supply chain issues. Not sure where all of this is going but Keith and I are thinking about adding a meatless meal to our new normal. We both love lentils, and this might be a good time to test out some recipes. (If you have a good meatless dish, drop a link in the comments.)

Loving | Small tea kettles

> You know, I’m a tea person. Well, I broke my favorite tea infuser and decided to try something new. Instead of a tea infuser, I’m using a small glass kettle (with a strainer). It works great, easier to clean, and significantly cheaper. Sometimes being forced to try new options works out well. 

Geeking | Logic Puzzles

> I’ve mentioned before my love of puzzles. One type that I remember loving (and aggravating the heck out of me) are logic grid puzzles. It’s the type of puzzle where you are given a series of categories and an equal number of options within each category. Each option is used once and only once. The goal is to solve the puzzle using the mathematical field of deduction. 

What’s UP with you? Is there anything that you’ve been doing while sheltering that will become part of your new normal?

Image captured by Sharlyn Lauby while exploring the streets of Chicago, IL

The Pros and Cons of Being a One Car Household

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one car or many cars on the road in an urban setting

One of the things to consider in retirement is transportation as in, “How much do you want to drive?” The answer might prompt you to take some action like moving from the suburbs to a more walkable community. Or maybe downsize vehicles to something smaller and/or more fuel efficient. Or you might do what we did and simply become a one-car household. 

I must admit that Keith and I didn’t reach this decision quickly. We were very concerned because we had always been a two-car household. But once we were both working from home, we realized that we were really only using one car. In fact, we had to jump the battery our second car twice because we simply weren’t using it. That’s when we realized that we needed to make a decision about cars.

We’ve been a one-car household for about eight years now. Honestly, we wouldn’t have it any other way. Here are a few of the advantages and disadvantages we’ve encountered.

Pros –

Cost. This is an obvious one. Depending on how you buy cars, having one car payment is nice. Having zero car payments is even nicer once you pay it off. There’s also not having auto insurance for two cars, maintenance for two cars, and putting gas into two cars. 

Space. What I mean here is space in the garage, carport, or parking spaces outside your residence. It’s very nice having the extra space. And depending on your taste in automobiles, trying to get two vehicles side-by-side in a garage can be challenging. 

Upgrade. Downgrading to one car could mean an upgrade in the type of car you own. Or the same type of car, but you splurge on a few features that you might not normally get. Another option is to save those dollars for something else. 

Cons –

Coordination. One vehicle does mean having to occasionally coordinate schedules when it comes to doctor’s appointments, meetings, etc. It’s not a huge deal for us because we simply make notes on our Outlook calendars so the other person knows they can’t have the car. The rest of the time, it’s first come first serve.

Rentals. That being said about coordination, we’ve run into a couple situations where we both absolutely needed wheels. And we rented a car. The cost of a rental is significantly less than buying and maintaining a second car. I’d say we rent a car 1-2 times a year (max).  

Personalization. Keith and I are fortunate that we’re roughly the same height, so our car seat and mirror settings are the same. But I could see where this might be an issue for others. Every time you get in the car, having to adjust seats and mirrors can be a PITA.

As we age, transportation is something we need to think about. It can be helpful to have these conversations early so no one is caught off guard. If you’ve been used to driving your own car and having that type of freedom, being able to control your future transportation needs will be important.

Image captured by Sharlyn Lauby while exploring the streets of New Delhi, India

The High Cost of Financial Exploitation and Tips to Prevent it

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Las Vegas slot machine early retirement and tips to prevent financial exploitation

AARP recently offered a webinar on “The Costs of Financial Exploitation & Tips to Prevent It”. It was a very interesting and eye-opening listen. One in five individuals fall victim to some form of financial exploitation. The average loss is $120,000, which for many can be their entire savings. And while you might say to yourself, “I’m smart and alert. I’m not going to let some stranger scam me out of my money.”, the research shows that it’s often not the strangers we have to worry about. It’s family and friends. 

I’m not bringing this up to scare you or to make you suspect of anyone. But AARP’s philosophy of “If you can spot a scam, you can stop a scam.” Is a good one. AARP mentioned during the webinar that being aware of scams makes a person 80% less likely to engage in one and if a person does start to engage, it makes them 40% less likely to be a victim. So, talking about scams, fraud, and financial exploitation is an important topic. 

Many of us are well aware of the Social Security Administration scams going on. But we’re already hearing about scams associated with the stimulus checks that we’re scheduled to receive. That’s right, we don’t even know when we’re going to get these checks and there are already scams in place to get them from us. 

The webinar pointed out five actions to look out for when it comes to financial exploitation. These might be actions that you want to discuss with family members or ask someone to review with you (so you stay alert as well).

  1. Pay attention to withdrawals, loans, and overall transactions. It simply makes good financial sense to have regular reviews of your expenditures. This can also be a time to take note of anything unusual in your spending and address it. This isn’t about a lack of trust. It’s about making sure that our financial affairs are in order. 
  1. Have two power of attorneys for checks and balances. It’s always recommended to have a power of attorney in estate planning. But I can see where it might make sense to have two. This can create checks and balances on financial decisions. It will take some conversations to figure out who those two people are – the last thing anyone wants to do is create friction. But it’s worth consideration. 
  1. Ask your financial institution if they participate in the BankSafe program. The AARP BankSafe Initiative provides training to employees at financial institutions to help them spot potential signs of financial exploitation. Researchers have found this type of training gives employees greater confidence in recognizing and reporting cases resulting in 12 times more money being protected per employee.
  1. Learn about third party requests for money. During these difficult times, it can be wonderful to give to organizations and individuals who need assistance. I’m not saying to stop. But it’s important to take a moment and do our homework about where we’re sending our money.
  1. Screen your phone calls. AARP continues to bring up this point. Phone calls are an easy way to scam people. The best way to avoid a scam phone call is to let it go to voicemail. If it’s a legit call, they will leave a message. Let your family and friends know that you won’t answer spontaneous phone messages. Recommend they send a text or some other type of message, so you don’t have to deal with scam calls.

PLUS! in addition to scams about stimulus checks, another popular scam right now involves the U.S. Census. Individuals posing as census workers collect information that can be used in identity theft. If you’re concerned about this, check out the video “5 Ways to Avoid a Census Scam” and share it with others.  

Talking about money is always a sensitive topic and no one wants to admit that they might have fallen victim to a scam. That’s why taking a preventative approach to financial exploitation is so important. Start the conversations early and get used to having open and honest conversations with people you trust. 

Using Social Media in Unretirement: 5 Day Plans

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using social media on a phone while traveling in unretirement

When we have a little spare time – or when spare time is abundant – many people look for opportunities to better themselves. That’s smart because new skills can often open doors. Whether you plan to work during retirement or you just enjoy learning new things, successfully navigating social media platforms may bring both satisfaction and opportunities.

Communication skills have always been a desirable workplace competency. It factors heavily in productivity, leadership and, of course, marketing. In today’s modern workplace, that includes online communication. Social media is particularly valued because of the vast number of users. For that reason, I’ve written short 5 day learning guides for Facebook, LinkedIn, Twitter and Instagram.

Your 5 Day Plan to Using Facebook

Many of us are already using Facebook which can be a valuable business tool without disrupting our personal space. Businesses and groups are plentiful, so there are work related things I just prefer to read on Facebook. Best of all, Facebook is very helpful in offering notifications and reminders to keep you on top of important customer interactions.

Your 5 Day Plan to Using LinkedIn

LinkedIn is another social platform where most of us can already be found. And whether you are looking for a career opportunity or just want to network, the business application of LinkedIn is second to none. LinkedIn is great about helping you optimize your profile and connect with others who share your work interests.

Your 5 Day Plan to Using Twitter

Twitter describes itself as an online news and social networking site. Over the years, Twitter has made several changes to become more business friendly. Today it’s easy to have conversations with your Twitter contacts or even Tweet Chats with larger groups who share common interests. You can quickly grow an audience on Twitter.

Your 5 Day Plan to Using Instagram

Instagram has rapidly risen to the top of the social media ecosystem where 80% of users follow at least one business brand. Instagram grows brand recognition through the power of visuals with graphic images, videos and stories. Following hashtags will help connect you with a global audience that shares your interests.

There are a few other popular social platforms like YouTube, Pinterest and TikTok that you can explore. But I wanted to give you some basics here to help you build a solid foundation.

By now we know that social media isn’t just some fad. It continues to grow as a communication medium, connecting business and personal brands with a vast global network. Whatever your goals, you can scale your social media activity up or down. Right now, we’re really experiencing the value of connection. Learn how to carry that forward into your own unretirement.