The Retirement Boom
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THE RETIREMENT BOOM Integration: The Circle Goals Exercise Here is one of our ways to get you thinking and building a plan that will take you to the place you dream about. Now you have a vision; let’s get the goals on paper. Often the New Year’s resolutions that we write are forgotten two weeks later, possibly because they are not realistic or do not relate to real life. Then we go right back to our old habits, whether they are about our health, finances, relationships, or work, thus sustaining lives that are not balanced, and are therefore, unfulfilling. The Circle Goals Exercise is about changing your life and putting it back into harmony and balance. In the exercise section of this chapter, we’re going to ask you to com- plete Circle Goals that will serve as your guidepost for integrating all aspects of your life. Cathy created this activity and used it for several years before we wrote about it in our books Reboot Your Life and Revolutionary Retirement. The purpose of the exercise is to balance your life around its most important aspects for the coming year and to move you closer to realizing your dreams. The simple chart is a circle divided into six or eight pie slices of equal size to remind you to give equal time—at least mental thought— to them. It’s a holistic approach. 1 Planning and Designing Your Reinvention Label the pie slices on the chart with six key aspects of your life. Examples might be: career, financial, travel, philanthropy, spirituality or religion, creativity, friends and family, romantic relationships, health and exercise, or whatever you want to realize over the next year. The categories may be for that year only, such as renovate your house, or ongoing, such as health and exercise. Once you have decided on the categories, write five goals for each one that are measurable and obtainable in the year. Make them specific, such as “redo my financial budget in the next three months” or directional, as “travel to a place I am interested in moving to, within the next year.” You should be able to sit down and know at the end of the year whether you met the goals or not. Here are some example categories, followed by an example of one cat- egory with specific goals: Finances Health and Exercise Career Family and Friends Spirituality Time For Self 2 AppENDIX Recommended Resources by Chapter Chapter 1: The “R” Word: Reboot and Reinvent Rather Than Retire Retirement Readiness Questionnaire Before Reading The Retirement Boom You may not know all the answers yet, but this exercise will at least get you thinking about your next chapter. Think about your desires before you think about your resources. You can marry the two later. Start here by assessing where you are and a general sense of what you want. Invest some time in it. *Downloadable version available at: www.revolutionary-retirement.com/private Password: Revolutionary What Is Your Story So Far and What Do You Want? Y What have you loved doing all your life? Y What have you liked about your work over your lifetime so far? Y What haven’t you liked? Y How much longer do you want to work at your current job? 3 THE RETIREMENT BOOM Y Do you want to continue working either full- or part-time? Y How much longer do you think you need to work to have enough money to retire? Y What do you want to do after you leave your current job? List five things that interest you. Y How do you want to feel in your next chapter of life? Y Are you ready in your heart and mind to retire from your full-time job now, or when do you want to retire? Y Where did you grow up and where do you live now? Y Where do you want to live? Y When does your spouse/partner plan to retire? Y What does your spouse or partner want to do? Financial and Health Questions Y Are you financially prepared for retirement? Y Do you need to continue to work and bring in money in retirement? Y How is your health? Y Do you have any chronic illnesses that may impact retirement? Y Do you have financial and/or physical responsibility for your parents or older relatives? Y Do you still have financial responsibility for your children or grandchildren? Y Do any other relatives live with you? Wrap-Up Y What questions do you need to consider to know when you want to retire? Y What questions do you need to answer to know if you can retire at that time? Y To whom do you need/want to talk about retiring and answering the preceding two questions? 4 Recommended Resources by Chapter Articles Pollard, Kelvin, and Paola Scommegna. “Just How Many Baby Boomers Are There?” Population Reference Bureau, April 2014. Chapter 2: Planning and Designing Your Reinvention Action Planning Grid Find a printable version on our Website (www.revolutionary- retirement.com/private). GOALS ACTION STEPS WHO CAN HELP TIME FRAME Team of Experts Planning Grid Find a printable version on our Website (www.revolutionary- retirement.com/private). WHAT TEAM EXPERT DO YOUR GOAL WHO CAN HELP YOU NEED? 5 THE RETIREMENT BOOM Websites Technology geeksquad.com—in-house and online technical and support service Society6.com—iPhone and tablet cases, and other cool and fun stuff Apps Appolicious—for iPhone/iPad users; helps you to identify the right apps for your needs and then to manage them App Brain—for Android users; helps you to identify the right apps for your needs and then to manage them Courses/Assistance to Teach You Software and Technology Skills Apple One to One—if you purchase an Apple product, we recommend you purchase a year of training; $99 for weekly one- on-one training sessions on any Apple product Genius Bar—for Apple products advice and training at Apple stores Goldstar.com and Groupon.com—for discount deals on courses SeniorNet (seniornet.org)—nonprofit organization that provides adults education, and access to, computer technologies Technology courses online in how to use Microsoft Office Suite, Word, PowerPoint, Quicken, QuickBooks, Instagram, etc. ed2go.com goskills.com Lynda.com skillshare.com Check your local newspaper or college listings for courses or students available to help. Chapter 3: Making Your Money Last Go to the following Website links to get the MyMoneyCheck-Up® Questionnaire and the Budgeting and Financial Records worksheets: 6 Recommended Resources by Chapter Y www.revolutionary-retirement.com/private Y sharpentoday.org or mymoneycheckup.org/syff for the Sharpen Your Financial Focus Questionnaire Y synovus.com for the Financial Planning Questionnaire Publications AARP Bulletin AARP: The Magazine Consumer Reports Kiplinger Retirement Report Money Advisor Money Magazine Websites Resources AARP (aarp.org) National Aging in Place Council (ageinplace.org) Employee Benefit Research Institute (ebri.org) Ageing Well Network (ict-ageingwell.net) National Foundation for Credit Counseling (nfcc.org) Osher Lifelong Learning Institute (olli.gmu.edu) National Retirement Planning Coalition (retireonyourterms.org) Financial Management aarp.org/fraudwatchnetwork aarp.org/savemoney bottomlinepublications.com consumerfinance.gov/complaint consumerreports.org fraudavengers.org aarp.org/money medicare.gov 7 THE RETIREMENT BOOM mymoney.gov nfcc.org cnnmoney.com reversemortgage.org sharpentoday.org socialsecurity.gov Retirement aarp.org aarp.org/retirementcalculator lifereimagined.org lifespan-roch.org retireonyourterms.org Organizing Finances bankrate.com/calculators.aspx—personal finance calculators finance.yahoo.com—links to top finance Websites naic.org/cis—to check out insurers quickbooks.com—accounting software quicken.com—personal financial and money management software realclearmarkets.com—access to all top money managers and journalists turboscanapp.com—document scanner on cell phones and other devices uphelp.org—for help on insurance issues yacenter.org—young kids bank www.caregiverslibrary.org/caregivers-resources/grp-checklists-forms. aspx—end-of-life checklists and forms jazmine.com—a safe way to store all of your personal and financial information 8 Recommended Resources by Chapter Wealth Management betterment.com marketriders.com personalcapital.com raymondjames.com retirement.prudential.com synovus.com troweprice.com/ric wealthfront.com Budgeting intuit.com learnvest.com mint.com mollopes.com yodlee.com youneedabudget.com Budgeting Apps bdgt.me billguard.com levelmoney.com spendeeapp.com Credit-Related Resources annualcreditreport.com cardratings.com cfpb.gov consumerdebit.com creditcards.com freecreditscore.com sharpentoday.org 9 THE RETIREMENT BOOM Finding Work arise.com encore.org kellyservices.com manpower.com nytimes.com/boss patinasolutions.com Volunteering earthwatch.org globalvolunteers.com pivotplanet.com reserveinc.org seniorentrepreneurshipworks.org wsj.com/encore Travel/Home Trading airbnb.com backroads.com couchsurfing.com familyadventures.com homeaway.com homeexchange.com onefinestay.com roadscholar.org roomorama.com vrbo.com wheretoretiremagazine.com Articles Brooks, Rodney. “Will You Outlive Your Savings?” USA Today, July 16, 2013. 10 Recommended Resources by Chapter Coombes, Andrea, “For Older Workers, Here Is Where the Jobs Will Be.” Wall Street Journal, October 2, 2012. Granger, Amelia. “Men Retire to Mars. Women Retire to Venu s .” The Christian Science Monitor, May 25, 2013. Greene, Kelly. “Social Security: Wait or Not?” Wall Street Journal, January 4, 2014. Gustke, Constance. “Retirement Plans Thrown Into Disarray by a Divorce.” The New York Times, June 27, 2014. Halpert, Julie. “A Way to Keep a Foot in the Corporate Door.” The Wall Street Journal, January 13, 2014. Hawthorne, Fran. “When Boomers Inherit, Complications May Fol low.” The New York Times, February 11, 2014. HealthView Services. “2015 Retirement Health Care Costs Data Report,” March 2015. www.hvsfinancial.com/PublicFiles/Date_ Release.pdf. Marchione, Marilynn. “Delayed Retirement Could Prevent Dement ia.” The New Mexican, July 16, 2013.