Retirement Life Archives – Unretirement Project

Help Your Employer By Taking Control of Your Retirement

November 13, 2019 by Sharlyn Lauby Leave a Comment

sign live life to discover referring to retirement

I ran across an interesting article on Workforce.com talking about “Employers’ Blind Eye for Boomers Slowly Opening to Retirement Realities”. While the article is focused on what employers can do keep older workers engaged, I think there are some takeaways for individuals planning their retirement.

One of the things that both employers and employees need to realize is that the retirement conversation doesn’t have to be “all or nothing”. And I think that’s hard. From an organizational perspective, companies often do not like to operate in shades of gray. They think that there could be a risk associated with it.

Employees don’t always want to operate in the middle either. Especially when it comes to a big lifestyle change like retirement. They want security and who can blame them. So, instead of waiting for your employer to tell you what they can offer, why not start thinking about what you can and are willing to work with. Here are a few suggestions:

Know your rights. While some employers might start dropping hints about “getting older” and “planning for retirement”, it’s important to know what your employer can and cannot do. The Age Discrimination in Employment Act (ADEA) ensures that older workers receive equal and fair treatment in the workplace. It protects most workers forty years of age and older from arbitrary age discrimination while on the job and it seeks to support the employment of older persons based on their ability rather than age.
Have a work stop date. Even if you decide to change it, start thinking about when you would like to 1) slow down and 2) stop working. That way you can control your plans. It’s possible the company will ask you to consider staying longer than you originally planned. Are you open to that? What conditions would make that a good decision for you? Same goes for having a slow down date. Maybe simply reducing your work schedule will be a perfect way to transition to full retirement.
Think about changing work responsibilities. If you decide to reduce your schedule, the company might rework your job responsibilities. This shouldn’t be a surprise. The organization has to get the work done. But honestly, you don’t want your job to turn into something you don’t enjoy. Think about what tasks you currently do that you love and wouldn’t want to give up, even with a reduced schedule. Also think about how you would accomplish those tasks if you didn’t go into the office every day.
Think about changing responsibilities at home. With more time at home, comes changes to our daily lifestyle. While Keith and I don’t have children, I know of several people who have retired (or semi-retired) and become babysitters for their grandkids. Some of them love it. Others were hoping for more time to do things on their bucket list. Our happiness at home is often connected to our happiness at work. If you’re thinking about creating a retirement transition plan, think about what it means for your home life.
Consider the budget. Any type of change at work and home means looking at finances. How much income do we anticipate? Can we afford to cut back financially? Are there expenses we need to re-evaluate? A successful transition to retirement includes a financial transition. It’s better to discuss lifestyle changes before you’re forced to make them. In fact, it could make sense to test drive some changes like cutting the cable cord or buying gently used clothing from PoshMarkbefore you need to so it’s not as dramatic.

The point here is that waiting until someone else brings up retirement puts you behind in the negotiations. Be prepared to discuss what you want and when you want it. That way, when an opportune moment presents itself, you can go for it. Keep in mind that you have colleagues around the same age who are trying to make plans as well. I’m not suggesting you throw a colleague under the bus, but to get a win for everyone, people need to know what they want.

Your retirement exit strategy doesn’t have to be a one-way conversation. Employers can be very supportive if they know what you want and are willing to offer.

Image captured by Sharlyn Lauby while exploring the streets of Atlanta, GA

10 Tips For Working Caregivers

October 9, 2019 by Sharlyn Lauby 2 Comments

this is what commitment looks like airport sign relating to caregivers

As we get older, one of the things we have to think about is caregiving. Not just caring for ourselves, but being caregivers to other persons. While we might initially think of caregiving as taking care of our parents or a spouse, it’s also possible that caregiving could extend to our siblings or other relatives. In fact, it’s possible that we might provide caregiving to a person who isn’t a blood relative but nonetheless a person very dear to us.

According to AARP, over 40 million people provide caregiving in some form. This translates to approximately 17% of today’s workforce. Because caregiving is such an important topic that affects a lot of people, AARP recently conducted a two-part webcast on “Tips for Working Caregivers from Working Caregivers”. It was a very interesting session that offered some things to consider. My big takeaway from the first session was to think about creating a caregiving guide. I can see where this isn’t one of those things that you should hold off until you need it.

Be prepared for the possibility of caregiving. You know your family situation. Is there a family member that might need caregiving at some point? Has there been discussions about how caregiving will happen? And who will be primarily responsible for it? All questions that are better asked and answered before the need arises.
Talk to your employer. During the AARP webcast, they said that over 56% of caregivers have to make accommodations in their work, especially when it comes to time. Talk with your manager. Let them know your needs and give them some reassurances that your performance will not suffer as a result.
Research caregiving-friendly companies. If you’re considering a job change, look for employers that offer caregiving benefits. At minimum, look for employers that are open to offering flexible schedules. Additional benefits might be available through health care insurance or the company’s employee assistance program (EAP).
Understand the legal aspects. At some point, caregiving might include being responsible for the care recipient’s financial affairs and medical directives. Make sure any required legal documents are in place and that, as a caregiver, you have the confidence of everyone around.
Set expectations with care receivers. I think this is an important one. Care receivers need to understand some of their responsibilities, like possibly wearing a monitoring device. Or if you’re a caregiver and work from home, that you aren’t there to entertain the receiver. Boundaries are important in care giving.
Use technology to your advantage. This is another aspect that applies to both caregivers as well as care receivers. Care receivers might enjoy some freedom by learning how to use apps like Facetime, where they can quickly check-in and let a caregiver know they’re okay. Or allowing an internal camera to offer some peace of mind.
Discuss finances. According to AARP, the average out of pocket expense for a caregiver is $7000/annually. While it’s possible that some community resources can provide financial assistance, there should be a discussion about how expenses will be handled.
Get some medical education. You don’t have to earn a medical degree, but you do want to know some basics like how to move people from a wheelchair to a car and vice versa. The good news is that AARP offers some videos on how to handle everyday activities in their “Home Alone” section of their website.
Be open about how you feel. Caregiving can make you feel overwhelmed and frustrated. It can also be an honor and very fulfilling. You’ll find that there are other individuals in the same position. Just having someone else to talk with can be a huge stress reliever.
Learn how to ask for help when you need it. And, how to accept help when others offer it. Talk with the care recipient and your support system about what you’re prepared to do (and possibly not do). And don’t ever forget to take care of yourself. In return, consider paying it forward and helping others who are going through the same thing.

Caregiving responsibilities aren’t something to be taken lightly. No one wants to be hashing out details when a loved one is sick or in desperate need of care. The best time to talk about caregiving is now.

Image captured by Sharlyn Lauby while exploring the streets of Atlanta, GA

Retirement Planning: 3 Money Moves to Help Everyone

September 18, 2019 by Sharlyn Lauby 2 Comments

garden decorations alligators playing in a beach scene created with extra money

I’m not a financial advisor. I don’t like telling people what to do with their money. It’s a very personal decision. Keith would probably tell you that I spend too much money on shoes. But I did run across an article in Real Simple magazine about money and retirement planning that I thought could apply to anyone and at any point in their retirement journey. The three things the article mentioned were:

Set financial goals (and get a second opinion). First things first. One of the ways we reach our financial goals is by having some. Want to save money? Have a goal. Want to invest money? Have a goal. This doesn’t mean that our goals are etched in stone and won’t change. But having a goal staring us in the face can keep us on track. I remember when Keith and I faced the reality of needing a roof on our house. They’re expensive! So, we set a goal to save a certain amount each month. Some months we saved less and others we saved a bit more. In the end, we met our savings goal.

The other big step we’ve made to help us with our financial planning was getting outside resources (i.e. accountants and certified financial planners). It’s important to build relationships with people you can trust. That doesn’t mean you have to agree with everything they suggest. Ask questions. Understand the answers.

Learn more about investments. Accountants and certified financial planners can provide you with some education about the investment market. So can bankers and real estate professionals. Another place you can look for information is educational institutions. Years ago, Keith and I took a university course on financial planning. It wasn’t to become a financial planner. But to learn the basics of how investments work. For example, what’s an annuity and why someone might want to invest in annuities. Or how the stock market and bond market differ. Even if you’re not currently investing in these areas, it does make sense to understand them. Because what happens with the investment market impacts other things.

The next time your employer has a 401(k) meeting, make it a point to attend. Learn more about your options. Ask the representative covering the meeting where you can get some additional information.

Be mindful about money. My takeaway from this is simple: think about how much money you’re making and how much you’re spending. Keith and I have a monthly financial meeting where we talk about not only our business expenses but our personal spending. We compare our spending habits over time. We talk about conducting experiments to see if we can reduce our expenses, like the time we started grocery shopping at Target versus the local chain and saved ourselves 50% on our food bill. (And that’s not a typo.) Granted, we haven’t totally “cut the cord” yet…but we did get rid of our landline when we moved to Gainesville. Life didn’t come to a screeching halt. I can’t imagine adding it back.

Being mindful about money also includes conversations about credit. How much credit is good to have? What are the best credit cards to hold? What’s our credit rating? It includes pulling our credit report annually – it’s free – and making sure our credit report is accurate.

You work hard for your money. You want to know that your money is going to work hard for you. That means getting educated about how money can do that over time. All of the little money moves we make can add up to a big result.

Image captured by Sharlyn Lauby while exploring Duval Street in Key West, FL

Unretirement Interviews: Benefit Your Community Using Self-Employment Skills

September 11, 2019 by Sharlyn Lauby Leave a Comment

When we first started Unretirement Project, we were very fortunate to interview friend and business leader Joyce Maroney on her unretirement journey. Her story continues to resonate with people. It’s one of our most popular articles. I hope you’ll check it out when you have a chance.

Joyce’s story speaks to many because she works for an organization. So, what happens if you’re self-employed? Well, I’ve been having this off-line conversation with someone who is doing exactly that. Bill Kutik has been a very successful technology analyst and writer for 30 years. He’s well-known for starting in 1998 and still being the chairman emeritus of the HR Technology Conference® & Exposition and the host of the video program Firing Line with Bill Kutik® for the last five years. He’s also beginning his unretirement journey, so I asked Bill if he would share his insights with us. Thankfully, he said “yes”.

Bill, you’ve been very active in our industry for many years. How did you decide to start thinking about unretirement?

[Kutik] If you’re lucky enough to have enough money saved for retirement, which means you probably loved working, your mission after retiring is to find worthy causes that can benefit from the skills that helped make you the money in the first place. Finally, in 2019, I am getting into a working retirement, which to me means taking my talents – honed razor sharp from being self-employed for 30 years – and redirecting them elsewhere to benefit someone other than me! At least that’s my mission, which is starting to bear fruit.

Tell us about the unretirement projects you’re working on these days.

[Kutik] The Aspetuck Land Trust preserves open spaces still left after a century of suburbanization of the farmlands that once comprised Fairfield County, CT, which includes Westport, where I live, Greenwich and Darien. The executive director immediately recognized that a guy who sold $1,500 tickets via direct mail and email for 16 years (while programming all the content and building the HR Technology Conference & Exposition into the largest in the world) might be useful for selling memberships.

Plus, I’m finally getting involved in local politics, which has pulled me for decades. Eight minutes from my home in the next town of Norwalk is a four-screen movie theater, built in 1918 as a vaudeville house, showing foreign and independent films. Imagine a cultural resource like that in the leafy suburbs which exist solely for the raising and schooling of children?!? I’d have to move back to Manhattan if it ever shut down.

Suddenly it looked like a developer was going to do just that, demolishing it for his subsidized apartment house – for parking! Happily, I knew a thing or two about political maneuvering after reading the 5,600 pages of Robert Caro’s four books on LBJ and one on Robert Moses (all the first time in their publication years and a second time in the last few years sitting on the beach during consecutive Junes); my favorite course at Harvard by Prof. Richard Neustadt on “Presidential Power“; plus covering the Board of Selectmen as managing editor of The Provincetown Advocate on Cape Cod.

I’ve been helping opponents turn the town’s Common Council against the plan. We got a reprieve from what was considered the certain death vote in July 2019 with a postponement. I won’t tempt fate to say we’ll have won by the time you read this.

There’s certainly no shortage of worthwhile projects. How did you decide that those projects were the right ones to give your time and talents? I think a lot of people struggle to figure out where to spend their time.

[Kutik] In my case, I was still being selfish. I moved to Westport 21 years ago when the Aspetuck Land Trust was finishing it’s crowning achievement: acquiring 1,000 undeveloped acres 20 minutes from my house and developing it as a wilderness park called Trout Brook Valley. The late Paul Newman, a long-time Westporter, was the public face of that fund-raising effort.

Being brand new, it was so unspoiled, I hiked there every weekend, started giving money to the Trust in lieu of admission, raised the amount as the years went by and I had more, until I finally came to the attention of the executive director who sent a board member to “develop” me as a major donor. Instead I offered my direct marketing services to the executive director.

As I said, I love the Garden Cinemas. When I lived in Manhattan, there was another four-plex opposite Lincoln Center that showed the exact same films! The attempt to tear it down had actually been going on for a year, but since it was in Norwalk, not Westport, I didn’t notice until the Monday morning before the Tuesday evening Common Council vote that would have sealed its fate.

So I just spent Monday on the phone reporting the story, as I had done for years on small town weekly newspapers, The New York Daily Newsand briefly for The New York Times. It only took four interviews to discover that the linchpin to save the theaters was another real estate developer who owned a second parking lot that would do just fine!

So I attached myself to him, acted as his PR advisor, and got him to give his first polite presentation to the Common Council in three years! While they were stunned to hear him apologize for past shenanigans, they actually postponed the vote because a leading opponent started a petition on change.org, got 5,000 signatures in six hours, and now has 15,000! I love this.

Last question. For individuals like you and I, who are consultants, it can be hard during our working years to volunteer or do pro bono work because we’re busy making money (for our unretirement). How do we find time to build relationships with worthy causes and projects?

[Kutik] I’m continuing to work: writing the column and producing the TV show. But since I’m not working nearly so hard developing new business, I have plenty of time to build relationships with the worthy causes. For me, the process is remarkably similar to work.

The Aspetuck Land Trust has an ‘administrator’, one of only two paid employees who basically does everything from maintaining the membership database to writing their direct mails to get new members. How is this different from HR Tech? The marketing department there was burdened with four other shows, and the 24-year-old assistant who didn’t know an HRMS from a mainframe was delighted when I started making her copy better. As was her boss and the administrator at Aspetuck.

At HR Tech after two years, I ended up writing every single marketing word that went out for 14 years, including a 7,000-word brochure, a dozen print ads, 100 direct mail letters and much more. I don’t plan to do that at Aspetuck.

At the Garden, getting tight with the real estate developer who had the answer to the problem was no different than chatting up a prospective client, except there was no money involved. I showed him the value I could add to obtaining his goals, which happily we shared, and just kept in touch. That situation is volatile beyond belief and far from over. We’ll see if in the end Norwalk paves paradise and puts up a parking lot.

I want to extend a huge thanks to Bill for sharing his unretirement story. Whether we work in a corporate environment or as a consultant, I think many of us can relate to the challenge of focusing on our career and thinking about our retirement future at the same time.

Bookmark This! Encore Careers Edition

September 4, 2019 by Sharlyn Lauby 1 Comment

airport sign upgrade your resume land anywhere you want for encore careers

When it comes to retirement planning, one of the biggest questions we have to answer is “What am I going to do?” For many of us, we’ve spent the majority of our lives defining ourselves by the work we do both inside and outside the home.

As we think about retirement, we have to redefine our relationship with “work”.

Some people include in their retirement planning to enter a second career, also referred to as an encore career. We’ve written some articles about encore careers and wanted to put them all in one place as a reference guide.

What’s an Encore Career and Why You Might Want One – Encore careers may offer many solutions in retirement. But we have to plan carefully and choose wisely. To start, learn what encore careers really are.

4 Ways to Find a Thriving Encore Career – Encore careers should be rewarding, interesting and fun! But AARP says don’t cling to a dying profession. Here are 4 ways to find thriving encore careers.

Figuring Out What to Pursue as an Encore Career – Your encore career path should be carefully planned because you don’t just want to just take any job. You still want to enjoy your work and be fulfilling.

A Career Coach Can Help You Find Your Encore Career – In the gig economy, an encore career can be a big part of unretirement. Career Sherpa Hannah Morgan shows the value of a career coach in finding your gig.

Journal Your Encore Career Experience – Encore careers can offer freedom and success in retirement. Document your encore career path in a journal to identify what works well and future plans.

Using Volunteerism to Find Your Dream Job – Encore careers can be an important part of retirement planning. But how do you start? Volunteerism could be a good way to get started in your encore career.

Encore Careers Can Offer Independence – Encore careers may offer the independence you need for a successful and fulfilling retirement. With proper planning, we can benefit from an encore career.

5 Steps for Finding Your Encore Career – An encore career is something to consider as part of your retirement strategy. Start the conversation early to plan for your future unretirement.

We hope you find these resources helpful as you’re thinking about whether to pursue an encore career and how to go about doing it. If you have any questions about finding an encore career, drop us a note via our contact page. We’d love to hear from you and answer your questions here on Unretirement Project.

Visit the Social Security Administration In Your Community

August 14, 2019 by Sharlyn Lauby 2 Comments

lunchbox for retirement fund tips in addition to Social Security benefits at lunch counter

There is an official day for nearly everything and today is no exception – August 14 is Social Security Day.

As a human resources professional, I attend a few conferences each year. One of them is the Society for Human Resource Management (SHRM) annual conference. This year’s event was in Las Vegas which is still one of my favorite places to visit!

Almost every conference has an expo hall of sorts and, before the event, I like to plan out my expo hall strategy. One of the organizations that I try to visit whenever they are present is the Social Security Administration (SSA).

Now I know what some of you might be thinking. Really? Social Security? They probably have a dinky little booth tucked way back in the expo hall and they’re not giving away any good swag. And all of that would be true. But the reason I visit SSA booth is because it’s like visiting the Social Security offices without an incredibly long wait. And the people working the booth are super nice and accommodating.

I’m not saying that visiting the local offices are a waste of time, but let’s face it, none of us want to do it. We only go there when we have to. Or, we just take care of everything online. Visiting the Social Security booth at a conference is different because I can have a proactive and helpful conversation with them.

For example, this year, I was able to pick up three small booklets on:

Retirement Benefits

Understanding Social Security Benefits

How Work Affects Your Social Security Benefits

I also received information about my Social Security online account and what I can find online about my benefits.

Would I have driven across town and waited in an office to pick these things up? We all know the answer is “no”. But I quickly and easily got them at a conference. And I was able to review them at my leisure.

So, the next time you’re at a conference or community event and see a government agency like Social Security exhibiting, go up and chat with them. Take the information they have to offer. Then, read it! This will make you more educated about the benefits you’re going to be eligible for at some point.

Manage Your Digital Life with These Three Tools

July 24, 2019 by Sharlyn Lauby 1 Comment

Out of Print Sign digital life and technology

We recently published a list of cybersecurity resources from TechCrunch and Google. If you haven’t seen them, it’s worth checking out.

As technology continues to fill our lives, we need to find ways to manage it. I’m not talking about taking digital vacations, although establishing boundaries is a good idea. When we use technology, we open ourselves up to risk. Even when we do all the right things, it’s possible we will have personal information exposed. Today, it could make sense to evaluate whether or not you need some helpful tools to manage your digital life. Here are three tools that we’ve added to make our digital life more secure.

Password Managers

Consumer Reports published this informative article on “Everything You Need to Know About Password Managers”. And this article from CNET will give you some suggestions for “The Best Password Managers of 2019”. Personally, Keith and have been using LastPass with good results. They offer a family plan so you can make sure that a designated person can access your information in case of an emergency.

While it’s not a exactly a password manager, I also recently purchased a Google Titan Security Key. This device provides a super-duper level of two-factor authentication to your accounts. I must admit, I’m still trying to figure it out, but I believe it is worth experimenting with. Oh, and if you saw those recent articles about a flaw in the Titan Key, Google is replacing them. Just contact them.

Identity Theft Protection Services

It’s sad to say that in today’s world we must think about this…but we have to think about this. Identity Theft is an issue. A big issue. According to a study published on ZDNet, around 15 million people in the U.S. have been impacted by fraud. To safeguard yourself, you have two options: you can do this yourself OR you can subscribe to a service. A third option would be waiting for a company to provide you with the service for free after your information has been compromised. (Please detect the cynicism in my last sentence.) I found this article on Nerdwallet that could help you decide “Do You Need Identity Theft Protection Services?”.

CNET also put together a directory of ID monitoring services in their article “The Best identity Theft Monitoring Services for 2019”.

Virtual Private Network

A virtual private network (VPN) is designed to protect your private web traffic from being snooped by outside entities. The purpose isn’t because someone is doing something sinister. But let’s be real, it’s kinda creepy to know that somebody could be snooping around in my web traffic even if it’s nothing more than cute lemur pictures, shoe sales, and Randy Rainbow videos.

If using a VPN interests you, this article from CNET on the “Best VPN Services of 2019” might be helpful.

I really don’t like being cynical about the use of technology, but I do think it’s important to be realistic. Technology isn’t going away any time soon. We must be responsible technology users which means finding tools to help us manage our digital lives.

Do you need to do these things? Maybe not. Personally, I’m finding this is one of those topics where I regularly ask myself, “Can I do it? Yep. Is this the best use of my time? Not really.” Maybe I need to find some tools to help.