You are thinking about retiring. That’s yesterday’s thinking. Start now, plan your lifestyle change. Forget about the term “retirement”. It’s not just college professors who can invent new words for the same old thing such as “space” for the old term “market” referring to a market for shoes for example. Begin referring to the idea of leaving that full-time job to making a “lifestyle” change.
During a conversation, today with a friend in his later 50’s, the subject of his “retirement” came up. We laughed. He is a very active person who invests in real estate and makes repairs to his properties and buys new ones. His wife was talking to him about the possibility of retirement. You can get sunburned if you stay on the beach too long. After he sits on the beach for a few hours and trims the roses a few times what will he do with his time?
The idea of lifestyle change came up and we talked about how he will at some point transition from being the doer to the supervisor. This lifestyle change will be his way to edge himself out of the very active role he now plays as he gets older. This was a perfect solution to deciding that on a specific day in the future he would stop doing everything.
For some of you who have a full-time job punching the clock or showing up at the office, the transition will be more dramatic leaving your existing life for a new lifestyle. And, not the “retirement” as the stereotypical model has been known. That photo of the old guy sitting by his wife on a lounge chair with an umbrella drink is not the new retirement.
The new retirement is the lifestyle change
Baby boomers opened the door for lifestyle change vs retirement. A couple recently told me they were looking for a place to relocate from their current big metro to a place where they could become involved with the fabric of the community. Their lifestyle change will involve working with various groups, becoming involved in politics, and in general filling the days with activities that bring pleasure.
This active lifestyle is becoming the norm rather than what the previous generations did when they left their careers. Sitting in front of the TV has been replaced by sitting in front of the computer creating a blog like this one or communicating with the family. So much in our culture has changed for the good and the bad. One of the good things is that we are not forced to do what our parents did after leaving their full-time commitments.
The same is true of staying put in the same house you raised your family in. Perhaps this is one of the many things you will do differently in your new lifestyle. Sell that large house and move to the beach or the lake or mountains. Don’t worry about the kids, they are adults and may someday want to leave the area anyway. Have them move with you.
Time to reinvent yourself
Your new lifestyle can be anything you want it to be. One person I spoke with wished he could have coached little league when he was younger but never had time. He is now coaching little league with a younger person who does the heavy lifting. He can still hit a ball and throw one so he is working with kids and loving it. Many people can pursue their lifestyle choices with the income that they planned for years ago.
Some need to do something to earn money as part of their lifestyle change. This is the best time ever since everyone is hiring and you will fit in well because you want to work part-time. And, you will be covered by Medicare if you are over 65. So do something you enjoy such as working at a nursery or Lowes.
There are lots of opportunities to earn income at various stages of your newly invented life. When you are physically fit, you can work at activities that require physical exertion such as digging a trench for your new sprinkler line. Later as you age, you can plan the sprinkler line and hire a local handyperson while you supervise. Later still if you are somewhat immobile, you can use the computer and create a blog or get paid to read others.
Your lifestyle change is entirely up to you
That lifestyle change we have been talking about may include another person, your spouse, or even adult children. Some of you may be taking care of grandchildren so they have to fit into that change as well. Planning will relieve a great deal of anxiety ahead of the changes.
It’s not necessary that you plan every detail of your new reimagined life, in fact just the big picture is good enough. Part of your lifestyle change is that you will have the ability to make changes when you need to. For decades you have probably earned a living working set hours including those hours commuting. You were a slave to the clock. Your new lifestyle should relieve you of most of that slavery.
Of course, you will have some commitments depending upon what you choose to do. If you have a part-time job perhaps you work different days and times to mix it up. Then there are those doctor’s appointments. When you worked for the man, you had to fit them in. Now going to the doctor is for some an event. I know some people who plan for the doctors’ appointment then have lunch and possibly do some shopping.
Retirement, yesterdays term
The word and term inventors can play around with “woke”, “non-binary” and other shall I say inane terms but they can not have retirement. We need to bury that term because it has evolved into a “lifestyle” change that means so much more and is more “inclusive” (see how I used a new term to its best effect). Yes, the term lifestyle does mean about everything. Perhaps the core meaning is that you have decided to look at everything from a different style to losing weight.
I always wanted a lawn tractor and of course a lawn large enough to need a lawn tractor for. As part of my lifestyle planning, we bought a house so I could get a lawn tractor. This is not exactly true, I think we bought the house for other reasons but I wanted it for the tractor as well. Finally, after buying dozens of homes in many places, I had my tractor so then I bought a zero-turn lawnmower as well.
People contact me about potentially moving to the Mississippi Gulf Coast to “retire”. Until recently, I have been saying to them, what do you plan to do when you get here? Sometimes there is silence. I can imagine the response they would like to give. “What do you mean what am I going to do? I am going to retire!”. A typical response for some who have not given any serious thought to what they may do “in their retirement years”.
Everyone does something
Even sitting on the beach is doing something. You may be in a good position with retirement funds in place but that does not mean that you sit at home and watch the grass grow. It’s time to imaging doing some of the things you wanted to do if only you had the time. News flash, the minute you left the “retirement” party at work, you started having the time.
I have been advising people for many years to start thinking ahead and begin planning. A number of my employees back when I owned my company was young and I would talk about 401k’s etc. For most, in one ear and out the other. The concept of leaving employment was and for many still does not compute. This article is not about saving and doing all of those financial things, I have other articles on those topics on the blog.
This article is about opening your horizons. Stop now using the term “retirement”. Been there, done that. Begin the mental transition to your “lifestyle change”. Start by telling your children, brothers, sisters, and anyone who will listen that next year when you leave XYZ company or sell your business, you will be making a lifestyle change.
Semantics are important
We have all heard people say that words are important that they carry weight. Using the term lifestyle change instead of retirement after you say it a few times will take on a new meaning. Tell your friends to stop referring to retirement and when they talk about your plans state you are making a lifestyle change.
I hear people talking about “I will never quit working”? This statement and ones like it are generally tied to depressing talk about finances. I hear this from people in their 50’s and early 60’s because they are just waking up to the fact that they have not considered what happens next. A positive attitude helps. Taking steps to make that transition from the clock to the “honey, let’s stay up tonight, we can sleep in tomorrow”.
It’s time to take charge of tomorrow
Regardless of whether or not you plan for your coming lifestyle change, it’s going to happen. Why not look at the process as an opportunity. Instead of letting life overtake you, you can become the one in charge of your lifestyle change. If you are in your 40’s start thinking about what you will do a few years down the road. If you are 50+, you will need to move a bit faster than when you were in your 40’s.
Not only to save money and get your financial life in order but to begin thinking of the great things you will do. And yes, you will do them because you can start now to imagine your lifestyle changes. I bought my tractor and love cutting my lawn. Not much exercise but I make up for it pulling weeds. You can do the same with some planning.
The planning process can be fun if you involve loved ones. Some of us may have some loved ones that are on the negative side, ignore them. Work with the ones with a positive attitude. Remember this is your life through the entire process. There is absolutely no reason why life can’t be not only good but excellent in later years.
How I created my lifestyle change
Years ago, I decided that I was going to enjoy the years beyond. During my career years I was able to start my own business, something I loved doing. If you work for someone else and love it, you know what I mean. Part of my passion was to save and invest. My wife and I worked out a unique financial system that permitted us to have most of what we wanted at the moment and still set aside for our lifestyle change.
During the transition, I started a blog called RetireCoast, the one you are reading now. Writing about things that would help other people helped me. The blog in a way helped me create a clear path forward. The blog in a way helped me think about topics that I had long forgotten about. It was a cathartic experience. A key component was the decision that we needed to leave California my birthplace.
Part of this decision was based on economics, part on politics, part on culture, etc. I was not pleased with the direction the state was going in and I imagined what things would look like a decade later. Frankly, the decision to relocate was a no-brainer, I simply did the math. So with that key element settled, it was time to think about where to move.
One of my most read articles on this blog page “why I decided to move to Ocean Springs Mississippi” tells most of my relocation story which I will not reiterate here.
I just wrote another article titled “why you need to retire on the Mississippi Gulf Coast“. This has become what is considered a cornerstone article that lays out lots of good stuff that I will not go into now. You can see what I went through to determine where to move.
With the location settled it was time to give notice
My wife retired several years before I left my last full-time job so she was ready. Because I was planning so far out, I was able to give two years’ notice to my employer. People think I am kidding. Not. They asked that I give two years and I did. Actually, I could have given more notice. I stayed on the job longer to ensure a good transition (I sold the company to my employer).
There would be a point when my company would have reached a point with the new owner that it was in excellent hands and the employees and company would continue. I knew this would come and also knew that I was in my mind making myself redundant. During the entire last two years, I was refining my plan.
We bought our house in Ocean Springs years before I left my position. My wife and I moved the remainder of our household goods and arrived in Ocean Springs as permanent residents. We obtained our driver’s licenses, fishing licenses and registered to vote. We became Mississippians and proud to be.
My wife thought more about “retirement”
While my wife was thinking more about the old concept of “retirement”, I was thinking about our lifestyle changes. We have met in the middle. I followed my old love for all things real estate and she supports me. The major difference is that I do what I want when I want. No clock. We have plenty of time to shop and go to events even to the casino. I make time for her.
Creating a real estate brokerage with trusted partners allows me to be flexible. One day the business will belong to my real estate partners. I can have fun, build a business, and know at the right time it will be in good hands. The same is true for my property management business.
I have also decided to work with a few selected local people who need mentoring to achieve their goals of becoming financially independent with their small businesses. I look forward to each day as I keep working on my plan and modify it as I go along.
My story can be your story or even better
My brother and sister are in their lifestyle phases also but neither has embraced a business or major activity. They ask why I have not retired since I am the oldest. They know why. We are all different, they have fun doing what they want and so do I. They actually “retired” from lifelong jobs with pensions. When they left their jobs after 30+ years it meant “retirement”.
You can experience a wonderful life as you plan and execute your lifestyle transition. I gave you an idea by using my situation as an example. I do not doubt that others have done far better in all aspects. I also do not doubt that you who have yet to wind up a career and move on to the next big thing can also excel in later years.
Write your own story, start now.
Photo by Jaime Reimer from Pexels and Photo by Mikhail Nilov from Pexels
