Does this sound familiar?
“I know the time is coming. I just turned 55 and the time for my usefulness at work is almost over. My co-worker Jack just celebrated his 65th birthday two weeks ago. This week, we’ve been invited to a retirement sendoff party at 3 p.m. in the employee café. Jack does not look happy. I don’t like to think about that, especially right now, with the economy the way it is.”
This is the kind of story I hear all the time as a Certified Professional Retirement Coach. People without a retirement plan, fearing the worst, expecting that their number will come up when they least expect it and there is nothing they can do to stop it.
That could not be further from the truth!
The past is simply the building block for your future. You decide where you want to be and how you want to move forward.
- If you are not sure or want to go in a different direction, remember that you can’t change your past, but you can influence your future.
- You must be open to new perspectives in your decision-making.
- Don’t cling to the past that has become your present like a life preserver.
- Have faith in yourself that you can turn the paradigm around and make it work for you.
But how?
Understanding the Reflective Fifties
A person during their Reflective Fifties focuses solely on their financial survival as they have built up certain amounts of debt for a myriad of things like living, housing, motoring, maybe education for self or others (kids) etc.
Top of mind is how to retire that debt or pay for things in the future. Some choose to live life alone, others with a partner, while others build a family. They think about the many things that can disrupt their financial future, such as a company reorganization just as they are ascending to that ultimate position that will secure their financial future.
They think very little about what the future will look like, where they will spend it, and with whom (if anyone) they will share it with. They are totally focused on the prize.
What I tell my clients is to step back from the abyss and look at their lives from a 10,000-foot vantage point. Look back at where they were born, how they were schooled, who they hung out with and what and who influenced them in their 20s, 30s and 40s.
With that kind of retrospective, you begin to figure just how you got here and why.
And once that is done, ask yourself the following:
- Is my personal identity completely intertwined with my business purpose?
- Is this the kind of work and company I would like to stay with for the next 20 years?
- If so, have others negotiated a phased exit plan with a 15-year shelf life?
- If not, what happened when a colleague approached the company with that kind of request?
- If my staying here long-term is not in the cards, where else could I find this kind of opportunity?
By taking control of your situation, being honest and open with yourself, you start to take advantage of your Reflective Fifties and prepare for the second half of life that could include the following:
- Your Second Career Sixties
- Your Bucket List Seventies
- Your Aches and Pains Eighties
- Your Last Hurrah Nineties
You need to speak with someone who can bring a holistic approach to your second half of life and help you develop a retirement plan so you can tackle those potential 40 years that may lie ahead. You need to talk to someone who can guide you through each phase of your retirement plan; someone experienced with the mental, physical, social, and legacy side of life. And finally, someone to guide you to another professional to help you realistically retire debt and finance your future.
What we are talking about is someone who can help you blueprint your life so your real purposeful second half of life comes to fruition, not on the fly, but after a definitive real life and financial planning process. A genuine retirement plan that takes you where you want to go.
This unique kind of approach to your “Second Half” of life is available exclusively through Bob Foley at Retirement Lifestyle Coaching.
About Bob Foley
Bob Foley is your Retirement Lifestyle Coach and you can reach him by email at bob@retirementlifestylecoach.com or simply by scheduling time on his calendar.
