Retirements: A guide to the younger generations Thomas Appiah Kubi Asante University of Education, Winneba Ghana Tel: +233247225196

Email: tomsadam@gmail.com

Introduction Many people have different perception about the concept retirement. Retirements comes with age. Aging is associated with an increased likelihood of major life transitions, such as onset of disease and disability and of widowhood. In contrast to these "unplanned" changes, retirement is a major transition that is often contemplated, anticipated, and planned for a number of years before the actual event. Retirement at the end of one's career has been described as "a fixture of the American social ethos and political economy" (Hayward et al., 1998). Much research has focused on the economic aspects of retirement, particularly income security, while other research has tried to describe and understand the potential negative impact of retirement on health and well-being. In most countries, the idea of a fixed retirement age is of recent origin, being introduced during the 19th and 20th centuries. Before then, the absence of pension arrangements meant that most workers had to continue to work until death, or rely on the support of family or friends. Nowadays, most developed nations have systems to provide pensions on retirement in old age, which may be sponsored by employers or the state. In many poorer countries, support for the old are still mainly provided through the family especially in Africa. The retirement age varies from country to country but it is generally between 55 and 70. In some countries, this age is different for male and females. Sometimes certain jobs, the most dangerous or fatiguing ones in particular, have an earlier retirement age. The standard age for retirement in Ghana is considered to be sixty years for most workers, although many individuals choose to retire earlier or later due to personal or financial reasons and also, the type of work that they do. After retirement, an individual's needs is usually funded through any combination of sources including a pension plan, a retirement account such as superannuation, Social Security, and/or a savings account/nest egg I am sure you have heard it from your parents, friends, teachers, bankers, pastors, lawyers, legislators, bosses and even from the media that you have to start saving now for retirement. Unfortunately, they are right. Even when you are only eighteen years old, saving for retirement should be a top priority in ones life. In fact, starting to save early can really reduce the stress of planning for retirement when you are say, 40 years and above. Moreover, starting to plan now

might even reduce the amount of time you have to wait until retirement. It's all in how you plan for retirement, financial responsibility is the key. Take this into account, "about 33 percent of retirees get a monthly check from a pension, 28 percent receive health insurance from a former employer, and only about 7 percent of retirees' income is from savings, including provident funds. But for people in their 20s today it is likely that 10 percent or fewer will get a monthly pension check or receive health insurance in retirement" (Brandon, 2006). These numbers were reported in U.S News Money and Business and come from Dallas Salisbury the President and CEO of the Employee Benefit Research Institute. They are alarming numbers, aren't they? It seems in these days of failing Social Security benefits and unreliable employment benefits it has never been more important to start saving for retirement early. That is not to say that every penny of your income should go toward retirement. In fact, if you start early, financial experts recommend saving anywhere from 10-15 percent of your income each year. Ben Stein (2007) notes that a thousand dollars put away when you are 20 years, and growing at a 10 percent rate will yield nearly $73,000 by the time you are 65 years old. That is a sizeable amount and worth putting away the money and not touching it until the time that you go on retirement.

Some schools of thought defines retirement as the period of a person's life during which he/she is no longer working, or the commencement of that period. Others also define it as the disposal of a fixed asset at the end of its useful life.

Webster's Dictionary calls it a withdrawal from one's position or occupation or from an active working life. The word itself conjures up images of silver-haired senior citizens relaxing and sipping fruit drink in some lush tropical paradise without a care in the world. You already know you are likely to live longer than your parents. You will probably also be healthier and better able to enjoy your later years. Yet, living longer means that making decisions about what to do with that retirement chunk of life, as well as how to handle it. Planning towards your retirement will eliminate all the stress and hassle that you are likely to face. Our current generation of retirees and potential retirees are thrusting themselves happily into that chore. As millions of Africans start to think about and plan for their retirement, it has become obvious that we have completely reinvented the concept of retirement. Its not your fathers retirement anymore but your own one.

Retirement, by definition, means to withdraw and retreat. Todays retirees and potential retirees, however, are facing retirement by attacking. They are planning to fill their retirement years with activity. Today retirees are doing more planning than just looking at their financial assessments. Individuals, facing potentially more than twenty years of retirement, are putting a good deal of time into deciding just how they want to spend their retirement. They are using their retirement years to restructure priorities and fulfill lifelong dreams.

Some figurative meanings of Retirement: Apply for Chiltern Hundreds: To resign from office; to abandon ones position or responsibility. This British expression alludes to the method used by an M.P. who wishes to resign before his term of office expired, which was a forbidden practice. Also forbidden is the holding of a paid office under the Crown while as a Member of Parliament. Consequently, the M.P. who wishes to resign applies for the Stewardship of the Chiltern Hundreds, a no longer extant Crown appointment. On receiving the appointment, he is force to relinquish his seat in Parliament. Having done so, he at once resigns his Stewardship as well, thus leaving the fictitious post vacant for the next M.P. in need of the ploy. Hang up ones hatchet: To quit working, to take a rest or break from ones work. The allusion is probably to a wood cutter or other person who uses a hatchet or ax in his trade and literally hangs it up when he stops working. This expression, no longer in use, dates as far back as 1327. When thou hast well done hang up thy hatchet. (Richard Hills, Proverbs from the Common-Place Book, 1530) Put out to pasture: Retired, put on the shelf, put away. The expression originally referred to animals, such as workhorses, which, due to old age or poor health, had outlived their usefulness to their owners and were turned out to pasture for the rest of their days. Today the phrase is more commonly applied to older persons who, for the same reasons, have supposedly outlived their usefulness to society and are no longer allowed to play an active role in the affairs of the working world. The implication is that they are not accorded the dignity of human beings but are treated as animals whose only worth is in their work. Swallow the anchor: To end ones seafaring days by obtaining an onshore job or retiring from a maritime occupation; to be released from service with the Navy. This expression is obviously of a nautical derivation and was used by A. E. Marten, as cited in Websters Third: [He] swallowed the anchor and stayed ashore. The expression is occasionally extended to apply to retirement from any occupation.

Retirement is the status of a worker who has stopped working. This usually happens upon reaching a determined age, when physical conditions dont allow the person to work anymore either by (illness or accident), or even for personal choice (usually in the presence of an adequate pension). The retirement with a pension is considered a right of the worker in many societies, and hard ideological, social, cultural and political battles have been fought for this right to be granted. In many western countries and even in Ghana, this right is mentioned in national constitutions. People are often asked series of questions such as: When are you going to retire? This befuddles me and I just dont understand intent for asking such questions. It sounds like there is some expectation that I should retire or at least want to retire. In some ways, it is similar to the question that women often hear, When are you going to have a baby? There is this implied expectation that because you are a woman you should be thinking of getting pregnant. Or because I have white hair I should want to retire. Such questions as, what do want to be when you grow up? When are you going to get married?, When are you going to have a baby?, What do you do for a living?, When are you going to retire?, all have inherent within the question the implied values of the questioner, i.e., what you do for a living defines who you are, being single is not a viable alternative to marriage, being childless is not a viable option for a married couple, working until you can no longer do so is not a good idea. The truth is, I bought into the notion that early retirement is of a higher value than continuing to work. It was as though early retirement was a badge of success. But as I found the years rolling by and I continued to work, I began to think that perhaps the entire idea of retirement should be questioned. After all, you are still healthy and I continue to enjoy my work. Why should I retire? I thought about the number of people I knew who retired and how I used to admire them and how I felt sorry for those who could not afford to retire or those who said, I dont know what I would do if I couldnt go to work. I thought of my own life, musing over what I would do if I retired. I have a lot of hobbies and interests, and I could clearly fill my days with activities that give me pleasure. I could engage in more volunteer work, work in my wood shop, take more lovely photographs, write more articles, continue to learn a new language, and practice more guitar, oware, kete drum, yoga, tai chi, and kung fu. I dont have to work for a living. So why continue? The answer is simple, I love it. You are privileged with the opportunity to participate in a meaningful way in the lives of others when you retire from work. My work appears to make a difference in the lives of others. Why would I stop doing what I love doing? These musings led me to question the entire notion of retirement. Throughout history, work has been considered a necessity; it was often arduous. That is why it was called work not play. Back in the early days, for most people, work consisted of some sort of physical labor, that is, from the sweat of ones brow. The wealthy did not have to work. The rest of the folk did the work. Then came the Great Depression where millions were unemployed. The economy was in shambles.

This ushered a host of social policies including what is now known as the Social Security system. This made it possible for the ordinary worker to think about the possibility that a day would come when he or she would no longer have to work. The magic age was 65. Once one reached the status of senior citizen, Social Security benefits would kick in making the worker eligible for a monthly check funded in part by contributions made during their working life and partially from the state. Similarly, labor unions became powerful voices for workers in various segments of society. The era of a retirement consciousness set in. People began to think about, dream about, and plan for that day when they could stop working and begin to live their remaining years in comfort. In fact, many people would choose careers on the basis of retirement benefits. People were proud to say, Im a retired . or I took early retirement. Mind you, this all took place in an era where life expectancy was late 60s to 70s. So those retirement years were relatively few. Today it is common for people to expect to live into their 80s or 90s as a result of improved health care delivery system. Many people, realizing that at age 50 or 60, even 70 they have decades in front of them, begin second careers. Their second career, however, often is more fulfilling than their first career; the first career or job was of necessity. It was the path that they felt obliged to take in order to have an identity, to pay bills, support a family, etc. The second career often is more about passion and self-satisfaction or personal fulfillment. It has been said that if you follow your passion you will not have to work a day in your life. Some people are fortunate enough to have found a career in which they feel passionate. They love their work and cannot imagine doing anything else. The question they often asked is, why would I stop doing something that I so enjoy doing? Why would I retire? Today many people might be re-thinking about this issue. Given both the fact of increased longevity and economic necessity, many people are questioning whether they should even retire. They are thinking that perhaps the idea of retirement as a symbol of success has outlived its usefulness. Perhaps like choosing to marry or be single, having children or being childless, retirement should be an option and not a requirement. The criteria for retirement should be based on ones circumstance, physical ability and desire to do so not on an arbitrary social standard based on age. Perhaps people should be thinking more about whether they will enjoy a job and find it fulfilling, rather than choosing a job on the basis of its potential retirement benefits. I just returned from my annual weekend trip to Akuapem and Kwahu mountains area. Every year, I join four other friends to hike into the forest, pitch our tents on the banks of the creek, and sit around the fire talking about life. We drank a lot of whiskey this year, and spent a lot of time at the swimming hole. This year, we also talked a lot about where were going in life. All five of us are about 40 years old, and were all dealing with career transitions of some sort. We chatted about Management

and Leadership (a topic I hope to write about soon), about building social capital, and about retirement. I mentioned that my wife hopes to retire when she is 52, and that caused a lot of envy. It also prompted an interesting discussion on Sunday afternoon.

How do you define retirement? Paul asked as he and I climbed into his saloon car to start the long drive home. And when do you plan to retire? I thought for a moment. Are those rhetorical questions? I asked. Or are you really asking me when I plan to retire? I am asking you when you plan to retire, Paul said. Because in a lot of ways, you already seem retired. You do what you want when you want. You have time to travel and to pursue your hobbies and that sort of thing. Yet when I think of you, I dont think of you as retired rather, I think of you as somebody working. I had to think about this some more. I dont know, I said at last. Im not sure I know what retirement is, and I dont know when I plan to retire. The thing is, I said, none of my family ever retired. Well, that is not true because my mothers father retired, but I didnt know him well. On my dads side of the family, the side I really know, nobody retired. Part of that was because so many of them died young. They never got a chance to retire. But I remember that when my grandpa who worked as a janitor at the high school when he retired, he still worked. He did not work for money, but he ran a working farm until he was 75 or 80 years old. Then I realized I could be clever. If I could not define retirement and if I could not say when I wanted to retire, maybe Paul could. So I asked him. What does retirement mean to you? I said. Well, to me retirement is not having to do something for money, Paul said. If I was working at one thing and wanted to do something else, I could do it and not have to worry. That sounds like Financial Independence, I said (though I couldnt capitalize the F and the I while speaking). Actually, thats a good way to look at retirement. In many ways, Financial Independence and retirements are the same thing. They both mean that you have enough money that you can afford to do what you want, right? Paul nodded. Sometimes I think that retirement isnt about the money, he said. The thing I wish I had is more time. I spend too much time doing things I dont want to do for money. I guess I could have time to do the stuff I want, but to do so would require more sacrifices than I am willing to make. Im frugal, but I have limits. If I could make money doing something I enjoy, I wouldnt have to retire. And thats what it seems like you do.

Oh! I said. Now I could see why Paul had asked the original question, why he wanted to know my definition of retirement and when I planned to retire. To him, I was already living the sort of life that he wants when he retires. Paul continued: I have been talking with Janet his girlfriend, and my wifes sister and I have been wondering: What if I got to a point where yes, I had to work, but I could choose any job I wanted, even if it paid minimum wage? Maybe I could work in a music store. Right, I said. I know what you mean. And actually, youve sort of hit on something that is in one of my favorite books. Its called Work Less, Live More by Bob Clyatt. Its all about what he calls semi-retirement. Semi-retirement is like early retirement except that you had to continue to earn money from sort of works. Bob Clyatt (2007) explains the advantages of semi-retirement as follows: With a modest income from part-time work, early semi-retirees may not have to face the dramatic downshifting in spending and lifestyle that so often confronts those who live only on savings or pensions. And semi-retirees learn that a reasonable amount of work, even unpaid work, keeps them energized, contributing, and sharp. Though semi-retirement is more realistic than early retirement for most people, its still not for the faint of heart. You have to be dedicated and work hard to make it happen. Semi-retirement usually requires ample savings, frugal living, ongoing work, exploration, and a sense of purpose. I dont know when I want to retire, I said. But I dont think of myself as retired now, though I can see why it might look that way. To be honest, I dont want to retire. I have purpose now, and I like it. For so long, my life had no purpose, and I think thats why I struggled with depression. Having purpose has changed my life, has giving me a sense of meaning. Paul quickly noted my flawed logic. Wait a minute, he said. That pre-supposes that retirement has no purpose. Good point, I said. Youre right. And actually, I think it is very important for everyone to find some sort of purpose, whether theyre retired or not. Just then, we reached the Gingerbread House, our pit stop for lunch. We went inside and ordered our burgers and malted milkshakes (Paul ordered double malt), and as the rest of the group arrived our conversation turned from retirement to more mundane things. Plus, we all hunched over our iPhones, catching up on 48 hours of e-mail and text messages. Later in the day, I thought more about our conversation. The more I think about it, the more it seems that the traditional notion of retirement is something like a mirage. Its not real. When I think about the people I know who have retired, I see that theyve really just gently transitioned into some other phase of life, usually pursuing something theyre passionate about.

Ultimately, deciding when and how to leave the workforce isnt about some number in a retirement account. Its important for each of us to think about our goals and what makes us happy. So, when will I retire? Maybe if I am lucky, I never will. I will just keep doing what I am doing because it makes me happy and gives me a sense of purpose. The question that lingers on the mind of millions of retirees is: what does the future holds for us after retirement? This and many more social and psychological factors affect many retirees.

Top Nine Ways to Reinvent Retirement. They are: 1. 2. 3. Realize retirement is a relatively new concept in human evolution. Restructure your priorities around what is most important to you. Renew your zest for education.

4. Revitalize your energy by finding a community of people who embrace growth and change. 5. 6. 7. 8. 9. you. Rekindle your spirit for risk taking. Respond to new opportunities. Recharge your system by moving your body regularly. Revisit your childhood dreams. Remember the power and wisdom to recognize and act on your true passion is within

PREPARING FOR RETIREMENT Retirement planning is the most important task of deciding how you will live once you retire. Retirement planning involves the consideration of a number of factors, including at what age you hope to retire, how much money you will need to cover living expenses coupled with the things you plan to do once you have retired, and where your money will come from. Generally speaking, retirement planning is planning your finances for the period of life after you stop working. Investing during retirement is entirely different than investing for retirement. As such, different strategies are required for the accumulation and distribution phases.

During the accumulation phase it may be appropriate to take moderate risks in return for the prospects of higher returns. A young person with a very long time horizon until retirement and a high risk tolerance might invest her entire portfolio in stocks.

During retirement, a much more conservative portfolio is generally called for. That is, because the requirement to generate periodic withdrawals to produce income introduces a risk that the portfolio might self-liquidate. Generally speaking, a retirement portfolio should be very heavily weighted in short-term bonds, which provide a store of value and reduce the risk for the portfolio. Both are important to retirees (Armstrong, 2008). A generous cushion of bonds provides a ready source of funds for distribution without regard to market fluctuations. There is a believe that retirees should determine their total income needs for the next seven to 10 years and allocate enough bonds to cover at least that amount. For instance, a retiree that expects to withdraw 4 percent of his nest egg each year would want to hold at least 28 percent to 40 percent in bonds. With that cushion established, the retiree can withdraw for a very long time without being forced to liquidate his more volatile stocks during a possible down market. It's important to preserve those volatile but high-return growth assets for future recovery. Armstrong (2008) went further to state that a low-risk, low-volatility portfolio generally provides a higher probability of success during the withdrawal phase than a more volatile portfolio. Here we define success as not running out of money while alive. While bonds may not earn as much as stocks over the long run, they serve to greatly reduce the portfolio risk. It would be a mistake to wait until the last possible moment to change strategies from accumulation to distribution. After all, you wouldn't want your retirement tomorrow dependent on what the market did today. If you are not properly positioned in advance, a couple of bad years in the market might set your retirement date back a decade or more. An orderly migration strategy from accumulation to distribution strategies ensures that you won't be hung out to dry if the market turns south. It might make sense to have your retirement portfolio in place a couple of years before you actually walk out the door. Then, pick a time about seven to 10 years in advance of your desired retirement date to begin your transition. So, for example, let's say you decided that you wanted 40 percent of your portfolio in bonds when you retire, want the portfolio set up two years before the actual date, and want to start 10 years before retirement to begin to adjust the portfolio. Your portfolio today is 100 percent stocks. You have an eight-year transition period. So, beginning 10 years before retirement, move 5 percent of the portfolio each year to short-term bonds. Two years before retirement you will have your 40 percent in bonds, and can look forward confidently to retirement without worrying too much about what the market does.

Of course, if stocks earn more than bonds during the transition period, you will have a somewhat smaller nest egg. Economists call that potential underperformance an opportunity cost. But, you will have greatly reduced the chance that a possible market crash will leave you unable to retire at all. So, the opportunity cost may be a small price to pay for peace of mind. An investment strategy isn't necessarily about maximizing returns while ignoring risk. Most often the appropriate strategy is the one that will maximize the probability of a successful outcome. That requires considering both risk and return. Migrating early to your preferred retirement portfolio greatly increases your chance of a successful retirement experience. It should be noted that each person's situation is unique, and therefore, retirement planning is not one standard plan for every person. We have different needs and aspirations. This means that our planning towards retirement may differ from one another. Saving money for retirement through one or all of the available retirement planning options is the first place to start. Many employers have retirement planning options available to their employees. Some companies have pension plans, others have mutual funds plans, and some have a combination of both. There are different types of pension and mutual funds plans, and you should check with your company's human resource department for information specific to you.

Retirement Planning: Retirement planning is a term that refers to the allocation of financial resources towards retirement according to Armstrong (2008). In most cases this simply means setting aside money or other similar assets for the purposes of collecting a living income once you're past working age. Financial independence is the goal of retirement planning. Most people hope to be able to survive without working at all, so that they can just travel or spend time with family. Getting to this point, of course, takes some time and a lot of attention to detail through the years. Getting ready to retire is a process that ideally starts as early as possible in one's working career. Allowing our investments more time to earn for us is the best way to build our portfolios.

Readiness to Retire: The process of putting together plans to retire involves two basic parts. The first part is assessing your readiness to retire given the lifestyle goals you have and the age at which you hope to retire. The second is to come up with possible actions and decisions to improve your readiness and to get closer to your goals. Every action we take as investors through the years are in relation to this recursive process. Ideally, we are always evaluating how ready we are for retirement and how well our plans are proceeding. And making adjustments to these plans and changing the course of our strategies are normal parts of the planning process.

Retirement planning is not something that can be done in a day, a week, or even a month. It is not an event but rather a recursive and cyclical process. The best plans are the ones that provide enough flexibility to allow us to make changes as the need for doing so becomes evident. To achieve this kind of flexibility and to come out with the best series of investments to help you achieve your goals, it is good to work with a retirement planner to make the process simpler and to help expose you to ideas and investments you might not be aware of. Retirement planning can be a difficult and sometimes mysterious process, but professional planning can make the process a whole lot simpler. Investors who wish to reach their retirement goals need to start investing as early as they possibly can. Getting into the market early gives your investments more time to perform and to earn income for you. Establishing a consistent pattern early on also helps build up the portfolio so that it can better withstand downturns in the market. A long term investment pattern characterized by consistency means the investor does not have to rely on luck quite as much in order to reach their financial goals. Setting Realistic Goals for Retirement Investors who want to live comfortably when they are through working need to set reachable goals that are based on the lifestyle they hope to have, not on someone else's formula or benchmark. After all, it is your life and no one else's. Be honest about the way you hope to live and determine how much the lifestyle you want will cost you. Work backwards from there to calculate how much you'll need to save in order to supplement Social Security and any other income you've got coming to you. Armstrong (2008) was of the view that one key aspect of retirement planning is choosing the investment vehicles you will use to help you reach your financial goals. There are many different kinds of investments available and different opportunities will appeal to different people. But 401k accounts are a great way to put money away for retirement. A 401k is an option that should appeal to just about anyone. Making contributions to these funds results in immediate and long term tax benefits. The contributions themselves are deducted from your taxable income, and the growth on the account is tax deferred until withdrawal. Plus many of these accounts feature matching company contributions. Individual retirement accounts also offer great tax advantages for folks planning to retire down the road. A traditional IRA features tax deferred growth, meaning that investors pay income taxes on their gains upon withdrawal. A Roth IRA is different in that it does not allow for deductible contributions, but once contributions are in the account they are no longer taxed even at withdrawal. Good retirement planning involves choosing the best retirement vehicles for the goals you have and your capability to invest. One rule of thumb: even if it is not your primary investment, take advantage of company matched IRAs and 401k accounts by contributing at least the minimum needed to capture that company match. This is free money, and free money is

pretty hard to turn down when we are planning for a retirement that will probably cost more money than we would like to admit.

Focus on Asset Allocation: Healthy retirement planning depends on asset allocation rather than on the performance of one single investment. For this reason, it is good to spread your investment capital around. Of course, investors should not get into financial investments just for the sake of diversification unless they understand the income and growth objectives of the investments and are confident in their prospects for future performance. This part of retirement planning often requires the help of a professional. Most of us are not exactly experts in retirement planning. But even if you do get some help from an expert, it does not mean that you have to surrender control over your portfolio. Individuals can work out their own agreements with financial planners as far as portfolio control is concerned. But it does pay to get help with planning. Professional retirement planning services can help investors get into the right stocks. Out of all investment types, stocks have the best chance historically of delivering a good return on investment over long periods of time. Stocks tend to grow ahead of the rate of inflation, meaning your gains more than offset the declining value of the dollar over time. Getting help with retirement planning can give investors an inside edge on great stock picks and systematic investment in the market.

Smart Financial Planning: Smart planning will yield a comprehensive strategy for systematic and disciplined contribution to funds designed for income, growth, and limited risk exposure. Professional services can help consumers design the right portfolio given their particular goals. Retirement planning is no walk in the park, but with some work this planning can be done effectively and with success. An example of financial planning after an investor has retired is the strategy to withdraw from taxable accounts first in order to let tax sheltered funds grow unimpeded for as long as they possibly can. Retirement planning in its essence is an effort to get more mileage out of the money we have to invest, both on the way in and at withdrawal when we retire. Retirement planning is a whole life strategy that involves lifestyle choices in the present to help finance the future. As we get older the need for discipline in this area becomes more and more apparent. The wise ones among us are those who take retirement planning seriously while they are still young, giving them a head start.

Retire from your job, but not from life: Imagine waking up one morning without a job to go to, nowhere to go, without a schedule to follow, and without coworkers to share the day with. Its going to happen to most of us, if it hasnt already. It is called retirement. Is retirement a time to rejoice or a time to regret? For some, it is a time to rejoice, for their job has been replaced with freedom. Freedom to follow their heart. Freedom to spend more time on their hobbies, to make new friends, and to follow personal goals. Suddenly there is time to catch up on those unread books, investigate those unanswered questions, and set out on new adventures.

Isnt the idea of having the time to do whatever you want exciting? Not to everyone. After all, any large and abrupt change can be stressful, so those caught unprepared may find their lives filled with grief instead of joy. Although most people prepare for their retirement financially, many have not thought about the psychological and lifestyle changes they will face when they retire. The sooner we prepare, the better off we will be. Perhaps I can share some ideas to consider.

Retirement is not a time to be idle Some people cannot wait to retire as they cannot sit around doing nothing. But after six months of doing so, they experience "retirement letdown." Some, in fact, will sink into a major depression. Why? Because they no longer experience the meaning, challenges, and fulfillment that their former job provided. The workplace which used to be a safer place for them is no longer there. Its fine to retire from your job, but dont retire from life, or else you will experience a letdown. You need to have a reason for being here, a reason to awaken every morning. And you need challenges to face so you can experience victories. Finally, if you live with meaning and challenges, you will be fulfilled. That is, you will be happy. However, if you do experience clinical depression, seek assistance immediately if from specialist

before it generate into something else since medical help is available and they can help make your life worth living once again.

You are not your job: Why is it that when someone asks us what we are and what do we do that we answer with our job title and description? For example, we may answer, "Im an engineer, I build bridges." It doesnt occur to us to say, "Im a human being and I enjoy life." Isnt that what you are? A human being and not a job. This will help prevent retirement letdowns. Men often identify with their jobs. The more they do so, the more they may experience a loss of identity at retirement. They feel as if they have been stripped of their identity and robbed of their worth and power. Before, they were somebody, they worth something. Now, they are nobody, nothing. This perception can be very painful. They need to realize that their job was like a suit they wore. They are still the same people; they have just removed their suit. The many roles forced on women are, in a sense, a blessing in disguise. Usually, they dont identify with their job because they dont have one but many jobs! When asked what they do, they will be tempted to say something like, "Im an accountant, mother, cook, housecleaner, wife and lover. What am I? Im exhausted."

The differences in how men and women react at retirement are striking, as pointed out by Professor Chris Sharpley of Monash University, Australia. As the Head of the Centre for Stress Management and Research, he and his team found that men experienced "retirement letdown" after six months, while women didnt experience problems until five years after retirement. Although Professor Sharpley didnt explain why women experience problems five years after retiring, I suspect it is due to excessive demands placed on them by their ageing husbands.

Create a routine: After working for 30, 40, or 50 years, you have grown accustomed to following a routine. To suddenly stop doing so can be jarring. It is not only a matter of being used to following a schedule, but it is a law of life. Doesnt the sun rise and set and dont the seasons change according to a schedule? Whats the point of getting up if you dont have something to do? To live without a schedule is to live without things to do, and that isnt living, it merely exists. So, pull out a pen and a sheet of paper and create a schedule. When you fill your hours with activities, you are filling yourself with life. With so many things to do, its easy to create a weekly schedule. Here's a sampling of activities you can consider:

1. Visit the grandchildren, family members, and friends.

2. Enjoy the pleasure of serving the community and making new friends. Become a volunteer. 3. Join a health club or join friends in taking a mall walk. 4. Join a club, association, or group. 5. Cultivate a creative hobby such as embroidery, painting, photography, or poetry. 6. Enroll in adult education or online (Internet) courses. 7. Get in touch with nature and spirituality. 8. Supplement your income and render service with a part-time job. 9. Travel (even if its just to another neighborhood). 10. Work on the house and in the garden.

11. Learn how to play bridge, gin rummy, mahjong, chess, backgammon, and other games. Learn line dancing, oware, golf or tennis.

Be positive: Remember the magical law of life: you will find whatever you look for. The good news is, if you look for opportunities, fun, and friends, you will find them. The bad news is if you look for things to complain about, get upset over, or get indignant about, you will find them too. So, stay out of the shade by focusing on the bright side. Truly, we cannot choose what will happen to us, but we can choose how we will respond. We can respond in a positive or negative manner. The choice is ours.

Perhaps no one was more aware of the importance of choice than the Austrian Psychiatrist, Viktor E. Frankl, who died on September 2, 1997. As a survivor of Auschwitz, he had to face unimaginable horrors, yet he realized that "everything can be taken away from a man but one thing: the last of the human freedoms is to choose ones attitude in any given set of circumstances, to choose ones own way." He chose to cope, survive, and overcome. He chose to reject fear, despair, and anxiety. We can choose to do the same.

If we carefully plan for the vacations we take, shouldnt we be planning for the biggest vacation of all: our retirement? Of course, some of us are already having so much fun we never plan to retire. Bob Hope and George Burns come to mind. While taking a break from chomping on his cigar, George said, "Retirement at sixty-five is ridiculous. When I was sixty-five, I still had pimples." Whether we quit working or not, lets not settle on drifting in a river of ordinary days, but lets make the remaining days of our lives extraordinary ones. All it takes to do that is the right mental attitude.

TOP 10 WAYS TO PREPARE FOR RETIREMENT Financial security in retirement doesnt just happen. It takes planning and commitment and, yes, money. Putting money away for retirement is a habit we can all live with. Remember that savings whilst working matters a lot when it comes to meeting your financial obligations during retirement.

1. Start saving, keep saving, and stick to your goals If you are already saving, whether for retirement or another goal, keep going on, it is a brilliant idea. You know that savings is a rewarding habit. If you are not saving, its time to get started. Start small if you have to and try to increase the amount you save each month. The sooner you start saving, the more time your money has to grow. Make saving for retirement a priority. Devise a plan, stick to it, and set goals. Remember, its never too early or too late to start saving. 2. Know your retirement needs Retirement is expensive. Experts estimate that you will need about 70 percent of your preretirement income lower earners, 90 percent or more to maintain your standard of living when you stop working. Take charge of your financial future. The key to a secure retirement is to plan ahead. Start by requesting Savings Fitness tips from your employers, bankers and insurance companies. itment and, yes, money 3. Contribute to your employers retirement savings plan If your employer offers a retirement savings plan, such as a SSNIT plan and Provident funds, sign up and contribute all you can. Your taxes will be lower, your company may kick in more, and automatic deductions make it easy. Over time, compound interest and tax deferrals make a big difference in the amount you will accumulate. Find out about your plan. For example, how much would you need to contribute to get the full employer contribution and how long would you need to stay in the plan to get that money.

4. Learn about your employer's pension plan If your employer has a traditional pension plan, check to see if you are covered by the plan and understand how it works. Ask for an individual benefit statement to see what your benefit is worth. Before you change jobs, find out what will happen to your pension benefit. Learn what benefits you may have from a previous employer. Find out if you will be entitled to benefits from your spouses plan. 5. Consider basic investment principles How you save can be as important as how much you save. Inflation and the type of investments you make play important roles in how much youll have saved at retirement. Know how your savings or pension plan is invested. Learn about your plans investment options and ask questions. Put your savings in different types of investments. By diversifying this way, you are more likely to reduce risk and improve on your returns. Your investment mix may change over time depending on a number of factors such as your age, goals, and financial circumstances. Financial security and knowledge go hand in hand. 6. Don't touch your retirement savings If you withdraw your retirement savings now, you will lose principal and interest and you may lose tax benefits or have to pay withdrawal penalties. If you change jobs, leave your savings invested in your current retirement plan, or roll them over to an IRA or your new employers plan. 7. Ask your employer to start a plan If your employer doesnt offer a retirement plan, suggest that it start one. There are a number of retirements saving plan options available. Your employer may be able to set up a simplified plan that can help both you and your employer. 8. Put money into an Individual Retirement Account You can put up to GH500 a year into an Individual Retirement Account (IRA); you can contribute even more if you are 50 or older. You can also start with much less. IRAs also provide tax advantages. When you open an IRA, you have two options a traditional IRA or a Roth IRA depending on the country where you are. The tax treatment of your contributions and withdrawals will depend on which option you select. Also, the after-tax value of your withdrawal will depend on inflation and the type of IRA you choose. IRAs can provide an easy way to save. You can set it up so that an amount is automatically deducted from your checking or savings account and deposited in the IRA.

9. Find out about your Social Security benefits Social Security pays benefits that are on average equal to about 40 percent of what you earned before retirement. You should receive a Social Security Statement each year that gives you an estimate of how much your benefit will be and when you can receive it.

10. Ask Questions While these tips are meant to point you in the right direction, youll need more information. Talk to your employer, your bank, your union, or a financial adviser. Ask questions and make sure you understand the answers. Get practical advice and act now. Other ways of savings would be to open an account in which you can earn high interest, but that you can't touch until you are a certain age. Sort of like a trust fund for yourself. Estimate your retirement age and start putting money into an account that you can't withdraw money from until you are about 60-65 years. This is a great way for people who have a hard time saving to save a fair amount of money for retirement. It is also a safer bet than stocks. While you will want to invest money somewhere as well, be sure to keep some money untouchable where you can deposit money and watch it grow. Look for banks with great interest rates, but also keep your eye on saving in tax-protected accounts like IRAs and Provident funds. This will help to reduce your tax bracket and still save money.

The Social Security and Insurance Trust (SSNIT) recommends you set a goal for yourself. For example set aside 20-30 a paycheck, or have a monthly amount taken from your checking account and put into your savings. You can also set up payroll deductions for saving, but if you want to keep money managing in your own hands, just set up checking deductions with your bank. They will move an amount to your savings every month or week as instructed and you will have a hassle free way of saving money. Bar your check card from that account. For example, if your savings is all in your savings account link your check card to your checking only so that you're not temped to pull money from your savings.

Another great, but basic savings tip is to eliminate credit cards such as the ATMs, Visa and Eswitch cards. The interest you pay on credit cards is enormous and you are sucking away half of your savings just by paying your credit card interest. It really isn't worth it. Switch to using cash or debit after paying off your credit cards. If you want to keep one around in case of emergencies, keep just one. Use that one only if you must. Save up for wanted items over time

don't just pull money out of the savings to purchase something. If you want a new Plasma Television or a PlayStation 3, take money out of your paycheck each week in savings for that item; just make sure you first put your weekly or monthly savings away. Calculate for your retirement This is actually one of the first things you have to do. Check with your banker or accountant for financial information regarding calculating your retirement costs. Many people under calculate it so make sure you are on the mark when you calculate what you'll need for retirement. You will also need to calculate health care costs. According to Fidelity Investments, since 2002 the average person starting retirement will need to pay for healthcare costs. For 2007 the average couple will have to pay around GH215 for medical costs (Sahadi, 2007). This number is assuming there is no employer covered health costs, but health insurance will help this number. Nonetheless, it seems that retirement needs to be carefully planned and all things taken into account. It seems like a large task for someone as young as 20 years, but it should be done.

Jack Van Derhei, a Temple University business professor has developed and is developing guidelines that should be taken into account when planning for retiring and how much you should save. Van Derhei advises you take your "potential health crisis in retirement, longevity risks, investment risks, spending habits, setting a steady source of income through retirement, what you must save to achieve your retirement goals" (Sahadi, 2007).

Brandon (2006) was of the view that the longer you wait to save up for retirement, the harder it will be to save. Instead of being 20 and saving 10-15 percent of your income, at 35-40 you will have to start saving 25-30 percent of your income, at 50 you will have to save even more. Waiting makes things much more stressful and difficult so don't wait for that long. Don't wait until retirement is in sight, start while you are young. Start trying to keep up with investment news, find out as much as you can about investment and ways to make passive income. While you may not have the resources to invest now, you will somewhere down the line. Investments, bonds, stocks, whatever you choose these are important ways of helping your retirement along so start thinking about them and talking to bankers and investment professionals for advice. It's never too late to start saving for your retirement, but earlier is better.

Have a Residual Income:

There is the need for a prospective retiree to have a residual income. Residual income would be defined as the generation of income by a passive means. An example of this would be like being a landlord and collecting rent, so long as you have tenants you have a passive income. Many put their monies back in the traditional mutual fund with their employers and that is a great leap for retirement, however there are many other types of residual income that you should consider. For instance Real Estate, Stock Market, Mutual Funds, and Writing are a few great examples. Do not overlook though IRA's and Bonds are good, however, these are not classified as residual income, but they should be part of every retirement portfolio. Have a Residual Income with Stock Markets and Mutual Funds Mutual Funds and Stock Market are risky as any investment is, but can give a substantial return on your investment. Many individuals do not know the difference between the two. A mutual fund is where your money is being put into a pool with hundreds perhaps thousands of others, then invested into stocks, bonds, along with other securities. You would be able to diversify your portfolio to a much higher degree than you would use only your own money this way. Always check what their net asset value is before investing into that brokerage. For Stock Markets, you are using your own money to invest, but also has a much higher return with an average of 10% growth per year. To earn residual income you must make sure that you are investing into a company though that pays dividends. This will help you to earn residual income, as you will earn the dividends at a quarterly, semi annually, or annual basis depending on the company you have invested into.

Have a Residual Income with Real Estate Real Estate is another great type of residual income. This method however does demand the largest amount of initial investment. There are ways to break into real estate though without large sums of money just lying around your house. You can buy cheap houses that need some work, either you do it yourself or pay someone to fix it up then rent it out. Houses from like city auctions, sheriff auctions, homes for back taxes from the city are a few great ways to get houses for much cheaper than you normally could buy them for while only requiring little to no repairs. The way you earn residual income with houses is simple, rent it out to those who cannot afford to buy their own house. You want to make sure that the rent your charging is enough to cover any mortgage payments you may have, while still earning a net profit from the property. After your mortgage is paid off in full then the entire rent is all profit minus perhaps some minor repairs periodically. This type of residual income is one of the most popular methods and builds up your assets toward future properties. Your first couple properties though you should just save

and buy with cash if you have the ability to, that way the entire rent is profit, and you have no mortgage cutting into your profits.

Retirement Preparation Checklist 1. Make a folder for Retirement. Planning for retirement requires gathering many types of documents and information from many sources. The recommendation is that with each new piece of information you acquire, you keep it in one central location such as a folder. This will help you have easy access to it when the need arises. 2. Gather information You may begin by requesting copies of the following: social security contribution statement of accounts, provident account statements, mutual fund statements, stocks and shares documents etc., but you may also want to determine if there are seminars or individual conferences available.

3. Contact all sources that will have a part in your retirement Contact Human Resource/Benefits office at your workplace to determine if you will be eligible for any lump sum, vacation or sick leave payments and how much sick leave is available to be included in your retirement (unused and unpaid sick leave). Review your budget and any current or future debt to see if it would have any effect on your retirement.

4. Determine the best time to retire. Determine how much income you will need to support your desired lifestyle in retirement. There are many books and Internet websites with information on how to estimate what you will need at retirement. Determine when benefits can begin from all sources.

Determine if you will need to return to employment after retirement to supplement your income. Determine what, if any, restrictions apply at the date you choose to retire.

Review eligibility for insurance benefits and determine the cost, if any, for State of Illinois or College Insurance program. Review eligibility for Medicare.

5. Prepare to retire. Make any payments for service that you want to be included in your retirement.

Contact your Human Resource/Benefits office to complete any required paperwork and provide notification of retirement. Request and complete Retirement Application and Tax Packet.

Request and complete an application from other reciprocal Ghanaian public retirement systems, if applicable. Request and complete any required paperwork for any other investments if you will be receiving benefits at the time you retire. Request and complete any required Social Security paperwork if you will be applying for benefits.

6. Keep an eye on Congress, the legislature, and the courts regarding any law changes affecting pension plans.

7. Review your finances. Knowing where you stand will help you focus on where you are headed. If you are in debt up to your elbows, then obviously you are not prepared to retire. Right now, set a personal budget and include some amount for retirement. To keep the same standard of living after retirement, then you will need between 70% and 90% of your current income.

Review your current needs and goals. Knowing what you plan to do can give you some idea of what you will need in terms of money and health. So whether you plan to travel or stay home with the grandkids, start planning now.

 Develop a healthy lifestyle. This is the perfect time to quit smoking and start exercising. Losing a few pounds can help many aging folks stay healthier and keep fitter. Talk to your employer about your retirement plan now. Check to see what you can contribute and if your employer provides matching funds.

Discuss various retirement possibilities with your spouse. Understand each others plans and make sure that you have all appropriate legal papers signed.

Review your benefits and social security statement. If you have any questions, call to have them explained now instead of later.

Open an IRA. You can check with your bank to see if you are eligible to open an IRA and get help you with the process.

Think of how you want to spend your time. After retirement, you may want to take another job, volunteer, travel, or hobby.

These preparations for retirement tips on getting prepared wont guarantee that you will be ready for retirement, but it gives you some suggestions on making it easier. Many great successes in life found their true calling after age 60. Retirement could indeed be one of the best and most productive phases of your life.

Which Hobbies Have Gone Neglected? Hobbies are something that we never seem to have enough time for. How many times have you heard someone make the statement, "I used to do this all the time but don't seem to have the time for it anymore". The question is: what has gone wrong? You will no longer have to be one of the individuals making this statement. Time is something that is finally all yours as you enter retirement! Making a Difference in the Lives of Others

Volunteer work is something that many retired individuals find very rewarding. Hospitals are one place that is always in demand for volunteers. The look of joy on a little child's face after you have donated an afternoon to them will be forever embedded in your mind. The local little league groups are always in demand for extra volunteer help. These are just a few of the many places you can find rewarding as a volunteer worker. You will quickly find that your life after retirement is busier now than when you were working...but in a much more rewarding way.

Symptoms of Depression Prepare for depression during retirement as many retirees are likely to encounter it. Not everyone who is depressed or manic experiences every symptom. Some people experience a few symptoms, some many. Severity of symptoms varies among individuals and also varies over time. sex Persistent sad, anxious, or empty mood Feelings of hopelessness or pessimism Feelings of guilt, worthlessness, or helplessness Loss of interest or pleasure in hobbies and activities that were once enjoyed, including

Decreased energy, fatigue, being "slowed down" Difficulty concentrating, remembering, or making decisions Insomnia, early morning awakening or oversleeping Appetite and/or weight loss, or overeating and weight gain Thoughts of death or suicide, suicide attempts Restlessness, irritability

Persistent physical symptoms that do not respond to treatment, such as headaches, digestive disorders and chronic pain

WHY YOU NEED TO RETIRE

First of all, when one is alive and active, how can there be retirement in life? We disengage from one career and engage in different profession to remain active and happy. It is often quoted that Surgeons don't retire since either their hands are itchy or the relatives and his patients don't allow them to retire for their own selfish reasons. You have achieved most of your professional ambitions and having your children well settled, you have drawn a line of contentment and decided to pursue a different life style after convincing your family and your grateful clients. This is response to inner voice calling to do something different somewhat different for some years now. It will take nearly 2 years to plan to choose a different life style. You have chosen a different life style engaging yourself with agriculture and promoting activities of your mothers trust, establishing a senior citizens retirement home, day care centre, and possibly establishing a pre- school. Your wish is also to construct a free marriage hall at your native place. Analyzing what you are going to miss or loose and what you stand to gain after choosing a different life style, the gain features scored over loss. Let me narrate what they are.

WHAT YOU STAND TO MISS (A Doctor) It is more of a miss rather than a loose. First of all, you will miss your clients and colleagues. The challenge of diagnosing, the thrill of operating, accepting the gratitude of the clients and colleagues. The smiling face and the body language say it all. In no other profession can one get such a heartfelt gratitude. This cannot be bought for any price. You will miss your colleagues and fellow doctors very dearly. The get together, eminences of good old days, healthy discussion, helping hand under difficult situations will remain green in my memory.

You are also likely to miss the opportunity to get exposed to newer developments, attending conferences and seminars etc. Attending conferences at different cities is an opportunity to meet old friends, specialist in a chosen field, and also sight-seeing the important places, going on a safari etc. These would all be badly missed

What You Can't Take With You:

Some retirees have the choice of spending all of their retirement savings in controlled bursts until death or leaving some behind for their heirs. This is, of course, a personal choice for those who have enough investments to allow them to live purely off their returns, or enough savings to finance their retirement.

However, not everyone has that flexibility. For example, if you only have GH10,000 saved and you need GH2,500 per year to cover living expenses, you have a financial dilemma even if you have this money invested at a 10% rate of return. In six years, your savings will be gone and you will be left at the mercy of government welfare programs. Or you may have to consider a working retirement with a company smart enough to hire mature and experienced individuals. If you think this will be the case, it is time to start a stricter savings program.

Withdrawal Rate: Assuming that you have diligently saved and invested for your retirement, you will likely find yourself with a large nest egg. The question is, how much money can you take from your nest egg each year without using up the pot before the end of your lifetime? The best advice is to use only what you need to do what you want. The early years of retirement are generally the most active and expensive as far as travel and hobbies are concerned. These are the years when you are most likely to use the most of your nest egg. If you dip too deep into your nest egg, however, you may be reducing your income for your later years, in which you are likely to have some costly medical bills on top of your regular, everyday expenses. There is a tendency to assume that investments will consistently earn a return of 10%, meaning that if you have GH400,000 socked away in investments, you can look forward to GH40,000 every year without touching the base investment amount. It may be better, however, to err on the side of caution and assume a return of 4-6% - about the return of a government bond - just in case the market hits a multi-year slump. If you plan on only drawing on the earnings of bonds, then you will be pleasantly surprised when the market performs well and only slightly hurt when it doesn't.

The goal, as with any stock slump, is to wait for the market to rebound without having to sell your stocks at a loss. If you are suffering a lifestyle squeeze from the shortfall and have to use your base capital, you should start by cashing in on your fixed-income investments and give the stocks as much time as you can afford to recover. Lifestyle Choices

What you are going to do with yourself and how much it will cost? Retired people tend to be, by virtue of a lifetime of experience, very good at keeping costs under control - that's how they were able to save enough to retire. Keeping up this habit is one of the best ways to ensure a financially stable retirement. At the very least, you will want to keep a record of your expenses to see if your expenditures are more or less than you expected. You should approach luxuries, such as a cruise or a new set of golf clubs, as financial objectives and see if you can find ways to save money for those items by cutting down on a monthly expense or finding another source of financing rather than just dipping into your retirement nest egg.

More importantly, you should keep track of whether you are doing the things you want to, rather than the things you wanted to. Some retirees who are expected to be traveling around the world may find themselves aching for home after their first trip; others who planned on operating a hobby farm may catch the travel bug.

A Personal growth does not stop at age 65, so you may find your lifestyle goals changing after retirement and you should be prepared to adjust your finances to accommodate such changes. This may mean taking a calculated risk and using a significant chunk of money to earn your scuba diving certificate while you have the legs for it, fully realizing that it may mean giving up something else you had planned for the future.

Reduce income: During your active professional life you have enjoyed certain luxuries and materialistic wealth. With reduced income after retirement you should think twice before buying things which are not basic necessities. Then that will amount to robbing your own bank account. You might have saved enough wealth for your future life so you dont need to depend on your children. You should also take medical-claim policy to take care of any future health problem.

You are fully aware that whatever you miss can never be regained. I have pondered over these points for a long time. The longer the time I took, the picture emerged clear that I will be experiencing the same benefits and contacts much like my earlier years. You are always reminded of the golden words of LORD BUDHA that: human birth is as rare as a morning star. You are also fully aware that you will not be called up for a second opinion, or advise and slowly the image you have established as an employee will fade away. After a great contemplation, you should decide to seek a different life style where you will be able to answer any inner voice.

Now it is time for you to draw a line of contentment regarding professional life. All these years you have lived for your children and clients and now it is time to live for yourself and for yourself only.

Some of the happiest retirees are the ones who never truly retire. In contrast to the idea of leisurely strolls and endless golf games, there is growing number of retirees who choose to work after reaching retirement age. Their retirement allows them to find an emotionally fulfilling job that maybe wasn't an option when they had a family to support. It also allows them to make connections in a widening social circle. Besides helping to combat two of the major causes of depression in seniors - isolation and lack of motivation - working after retirement provides a source of income that augments investment income. If you find a job you love and work during your retirement years, the financial aspect of your retirement planning will be much easier. Although your lifestyle may change when you retire, the fundamentals of personal finance do not. You will still need to prepare a budget, control your expenses and monitor the rate at which you are using up your reserves. If you have the gumption, you should still approach luxuries with the intention of either saving for them or finding other sources of income. The vital thing is to realize that, even if retirement is the end of your working life, it is not the end of your financial life. You still need to keep your books, just like you still need to eat, sleep and dream.

HOW TO RETIRE WITH CONFIDENCE Scared of Life After Retirement? "What's next" is the cry of many boomers as they think about their futures because they are scared of life after retirement. One woman said that she was terrified of retirement. "What will I do?" Another man could not wait to retire. He was an investigative reporter but had always dreamed of turning his hobby, art, into something serious. But there are several themes: some are scared of the future, of money running out, of the possibility of becoming caretakers and not having a purpose any longer; others are excited about new opportunities and new plans. The good news is that boomers have options. That is, whether they want to continued with what they were doing, try something novel, search for a new path, relax and let life emerge, stay involved but as a spectator, or retreat to the couch. There is no single path that fits all sizes, paths can be combined, and paths can and will change over time.

Based on my interviews and focus groups, I discovered that boomers are creative as they chart new paths for themselves. I identified six main types of boomers as they go about getting a new life after retiring from their main career.

CONTINUERS continue to use existing skills and interests, by modifying them to fit retirement. A retired professor continues to write books and give speeches.

ADVENTURERS see retirement as an opportunity to start new endeavors. A researcher for a congressional committee became a massage therapist.

SEARCHERS explore new options through trial and error. Joan went on several boards, volunteered for several organizations as she tried to figure out what to do with the rest of her life.

EASY GLIDERS enjoy unscheduled time letting each day unfold. As one retired bank teller said, "I worked all my life. It is now my time to just chill out."

INVOLVED SPECTATORS: you care deeply about the world, but engage in less active ways. A museum curator still follows the art world but no longer works in it. RETREATERS take time out or disengage from life. For some, this is an opportunity to think quietly about the future; for others it is a retreat from life leading to depression. Are you someone who has enjoyed the security of having a regular work routine for many years? If so you may find the prospect of retirement and the loss of that security and routine somewhat daunting and be feeling lacking in confidence in how you will cope without these patterns to your days.

Rest assured, you can gain in your self confidence as you organize yourself and your days even if at first you feel as though you wont be able to do so. Retirement is a wonderful opportunity to do so many things which you didnt have the time or perhaps the inclination to do while you were busily working.

Set yourself goals: When you have something to work towards with, your confidence increases. This may be getting as project completed at home that youve been unable to do while busy at work. Set yourself either a time-frame each day to work on it or an amount to complete each day so that you can experience the task being completed. There is no doubt that working to a deadline, even if this is self-imposed, rather than boss imposed, will enable you to complete long uncompleted tasks.

Discover new activities: You have all your previous work filled hours to fill each day, so dont sit around hoping something will arrive in your lap. Instead be open to new experiences and try new things. Retirement is a time to develop new hobbies. You might have always wanted to learn a language, or sing or play a musical instrument. As you do new things and go into them with a positive intention of learning your confidence will increase and your outlook and enjoyment of life will soar.

Do things with other people: You may be missing the camaraderie of the workplace, the chat and the sharing of jokes that went on each day with likeminded people. Unfortunately, when youve left work you may not share similar experiences with those people any more. So while its good to maintain old friendships socially, its also important to widen your circle of friends by finding activities you enjoy and spending time with others who enjoy the same things. Although you may feel nervous at first because the others seem to be experts at what you are learning as a newcomer, they will enjoy explaining things to you and by so doing you and they can become better acquainted.

FIVE WAYS TO MANAGE YOUR TIME IN RETIREMENT It can be a challenge when you retire to manage time effectively. Time management which may have been a constant source of stress when you were working can still be an issue when you no longer have to go to work. The challenge in retirement is using your time effectively and taking advantage of the new opportunities available to you. 1. Get rid of the irritating tasks If you have been saying to yourself for years that when you retire you would get lots of little jobs done, then begin to think about it. So either spend a few days doing just that or designate a set of

time each day until they are done and dusted. Dont let them take over all your time: there are so many new things you could be doing now instead. 2. Be more organized If you find yourself flitting from one task to another throughout the day then you will benefit from doing things more efficiently. Do similar tasks together so you dont have to repeat journeys whether these are inside or outside.

3. Get rid of clutter When you retire, remember you are entering a new stage in your life, a time to re-assess and regroup and think back over your life and forward to the rest of it. Its a great time to sort out what you want to keep and clear out unwanted and unnecessary clutter. You will find that clearing physical space will also clear emotional clutter too. 4. Choose how you spend your day Without the routine of work, you have the chance to make more choices, especially in the way you want to use each day. This may include more involvement with friends and family, perhaps looking after and enjoying the company of grandchildren. Be clear about your boundaries; however about how much you will do.

5. Choose with whom you spend time You have a choice too, about whom to spend your time with. Its easy to get into an ongoing habit of, for example, friends visit you then they invite you back and so on ad infinitum. If you enjoyed their company, then thats fine. On the other hand if you dread seeing them and dont enjoy their company then just say no and stop. Choose to spend time with friends and family for their good company. Dont forget its also important to spend some time with yourself, doing whatever it is that you enjoy and without having to adapt to others.

The perception of retirement: Retirement is a word that has two distinct and divergent meanings depending upon the perception of the person who has just reached this significant milestone in their life. Some will consider it to signal the end of the useful and enjoyable part of their lives. Often people with this view of retirement will view retirement as simply a period during which they will be 'waiting for

God.' Those in this position are likely to become increasingly more depressed and morose as the retirement years role on. One of the major changes that happen as we reach retirement age is that the structure of our social life is likely to change. The work environment, where we would met with people every day is now gone. To many it seems that it is replaced by what can seem like long days where we will meet hardly a soul, except perhaps for the next door neighbor or the local shopkeeper, both of who are often too busy to spend the time interacting with us in the way that our former work colleagues would. Often those former work colleagues will have moved on. We are no longer party to the work gossip or the changes being made in the workplace and therefore the friendship we once had with them tends to drift.

The same distance can also occur with close family members, especially our children, when we retire. The fun and laughter of children is often conspicuous by its absence in the home of the elderly person. We want them to visit often but deep down we will be aware that this is not possible. They have their own busy work, school and social lives to live and fitting in visits to the elderly relative may become increasingly difficult, no matter how well-meaning they are. Making the right choice for enjoyment So what do we do? How do you make the right choice that will not affect you? Do we shut ourselves away with only the TV, radio or newspaper for company, becoming increasingly depressed as we wait for the knock on the door and find God is there inviting us to take a new journey? The answer is no! We owe it to ourselves, as well as to God for that matter, to enjoy all of the experiences that we can in life, irrespective of age. In fact the retirement years make that more possible, because we have time on our hands and are not answerable to anyone.

This author would argue that retirement is the key to the opening of a new door not simply the closing of an old one with regret. Life after retirement can and should be enjoyable. All one needs to do is to be positive and take the necessary steps to ensure they experience the enjoyment and that the twilight years can offer to the full, and there are many opportunity for these experiences at this stage of our life cycle. The opportunities Making new friends after retirement is not difficult. There are plenty of local social clubs, some simply run by retired people and others operated by organizations such as local churches. By joining these elderly and retired people you would be able to spend some of your excess time in the company of people who have the same interests. For example, these clubs could be arranging travel or other forms of outings, such as local walks or talks, which allows retirement to be filled

with new experiences and adventures. Similarly, there are sports and exercise clubs that welcome retired people into their membership. For instance, crown green bowling is a sport that appeals to many retired people in the UK and, in addition to the competitive nature of the sport itself; it also allows them to create a social life with new friends.

For those who prefer more sedate activities, retirement also provides the opportunity of pursuing a hobby or interest that maybe had to be put on hold while they were working or bringing up the family. These might include art, model making, writing or even performing. Furthermore, this experience can be made even more rewarding by sharing it with others at the local hobby club. Retirement - not the end but a new chapter Life can certainly be enjoyable after retirement and, if the retired person becomes immersed in the activities, and experiences they have decided to pursue, so it would be for them, rather than their former friends and family, who will have to be consulting their diary to see if they can fit in a visit. Who knows, by adopting this approach maybe even God will need to wait a few days longer, which you are sure he will not mind.

LIFE AFTER RETIREMENT Work is often a crucial part of our identity, but Peter Froggatt found out when he stopped working that he had been a slave to procedure rather than purpose A former Chief Executive Officer of one of the most prestigious companies in Ghana shared his experiences. He said: In 14 months I will be 80 years. I retired 21 years ago from my full time position as Chief Executive Officer. Ten years was long enough on that ever steeper treadmill, and I took a reduced pension and entered the fee-earning market, as I still had a family to support. I gave up the fee-earning world at 75, when I couldnt find anyone still willing to pay me. Since then I have continued with the good works that have always been part of my working portfolio and the usual privileges and chores that fall to professionals put out to grass: producing book reviews, invited lectures, and content-free articles on topics such as Whither medicine?

Live a Peaceful Life after Retirement Saving and retirement planning takes up one-third of a person's life. To ensure continued financial security and freedom, we start planning in the early years.

In order to live a hassle free retired life, we should plan in advance since you cannot tell what the future holds for you. While in service, we start planning so that life after retirement should be exclusively as per our preference. Planning in advance reduces the pressure on finances at a later stage and enables one to aim for an ideal retirement scenario. To accept retirement wholeheartedly is not an easy task. The secret to overcoming the retirement blues is to remain active.

If you wish to enjoy every moment of live after retirement, then financial planning is essential. Regular savings, assets, investments, and the lump sum money we get at the time of retirement and pension could give us a sense of financial security. Medical expenses are going up day by day. We need to save money for future medical expenses. With age comes greater risk of diseases. Blood pressure, cardiac problems, diabetes, joint pains, kidney infections, cancer and tuberculosis are some of the common diseases that generally affect senior citizens. We should encourage a balanced lifestyle by taking balanced diet, regular exercises and good sleep.

Life after retirement has different meanings for different people Some people spend the last few of their working years investing for retirement, anticipating the big day and actually counting down the months and even days. Others, on the other hand, dread retirement because they are very uncertain as to what retirement has to offer them. I am here to tell you life after retirement can be the greatest time of your life. Your time in retirement truly can be the "golden years" you have heard so much about all your life. Later Life Opportunities Retirement offers you so many opportunities that were previously unavailable to you. Whether it's hobbies, travel, family, volunteer work or just relaxing, the choices are yours. Don't make the mistake so many other retired individuals make and find themselves idle with the days long and hard to fill. This often leads to a feeling of being unproductive, bored and depressed. Your retirement years can be filled with activities and events, if you so choose. Is it Finally Time to Travel? Traveling is something that almost everyone dreams about during their working years.

Either they dont have the money for their desired trip or they don't have the time. In most cases, it's the time they lack because they're only entitled to a few weeks vacation per year. With family obligations and events, vacations are often used up doing things other than traveling. This will no longer be the case in your life of retirement. You don't have to go on an expensive vacation that will financially drain you to have a great time. There are many cruises available from one-day cruises to two weeks or longer. You will be surprised to find out not only how much fun they are but also how affordable. Travel agencies offer many complete vacation packages going all over the world. They offer special prices if you meet certain criteria like pre-booking or going on specific dates and times. You will also be pleasantly surprised at the many Senior Citizen discounts available to you. Many organizations are designed to help the retired individual with their new life of retirement. Now that you have all this extra time on your hands, you can plan your vacation for any time you want. Consider Some of the Following Financial Aspects to Plan a Peaceful Life After Retirement: Inflation: Increase in living costs can severely affect your standard of living. You need to maintain a diversified portfolio in your retirement years.

Health Care issues: Health care costs can consume up to 20% of your post-retirement income. Consider purchasing long-term health care insurance to avoid catastrophic medical expenses. You can sign up with private health insurance schemes or state owned mutual health insurance schemes as we have in Ghana.

Retirement Plan Distributions: Generally a significant share of your retirement income will probably come from an employer plans and or from other retirement plans such as provident funds etc., so you need to be familiar with the rules and tax considerations concerning withdrawals.

Financial planning: Gather information about your investments, sources of income, health insurance situation, anticipated major expenses to check if you have accumulated enough to generate the income stream you will need post retirement.

On a lighter note, join retirement communities, read books, work from home, visit places and spend quality time for spiritual living. We cannot deny the fact that retirement creates a vacuum that is often followed by depression. Try to work from home or involve yourself in part time jobs or in voluntary service activities or develop hobbies. Be a part of networking sites as we now have a lot of social and religious sites and start interacting with people of your choice.

Accept transition and the emotions associated with it, to help ease you through the process. Planning in advance can make your life simple and hassle free after retirement.

The State Insurance Company (SIC) have this to say: We are populating our list of retirement professionals and resources everyday so that you can find things like retirement savings plans, retirement homes, retirement communities and even the fun stuff like seniors travel deals, things to do once you retire, volunteer opportunities, ways to make extra money while retired and much, much more. We have it all covered so that you can spend less time running around trying to find all of these things yourself. Be sure to check back in regularly as we continue to add new resources everyday so that you can make retirement a breeze!

A former Chief Executive Officer in Ghana shares his thought on the following sub-topics. Adjusting to change He said the first two shocks of retirement were entirely predictable. For 10 years my wife, four children, and I had wallowed in the domestic luxury of one of the grandest mansions in AccraEast Legon, with spacious gardens, three full time gardeners, two lakes, and a boathouse. With this came a chauffeur driven limousine, generous hospitality allowance, domestic helps, first class business travel, and all the other trappings that were considered essential to the life of a C.E.O.

Now I was unceremoniously dumped on the sidewalk and had to rediscover the doubtful joys of economy class flights, fuelling and parking my own car, and buying my own drinks. Worst of all, I had to re-enter the housing market, although fortunately this was depressed at the time owing to Accras little difficulties. Buying a family house in a safe area took all my tax-free lump sum and with it went the world cruises, the holiday house, and all those other little plans for a life on easy street. The second shock had also been foreseen, but inadequately. At the workplace, I had three personal assistants, five full time secretaries, numerous assorted minions inhabiting rooms full of

the latest technology, and some of the best brains in Ghana within hailing distance. Now I had to take on, and pay for, a confidential secretary, who worked in her child laden home, 12 miles away and all long before email and mobile phones. Deprivation was to prove more stressful than plenty, and I soon started to have the first of my clinically mild but nevertheless irritating psychosomatic symptoms.

The third shock was to my wife rather than to me and was unforeseenat least by me. For 30 years I had gone out at 8 00 am and come home at 8 00 pm, Monday to Friday. Saturdays were often equally busy, although more anarchic. Now retired, I came and went irregularly and often didnt go out at all. The habit conditioned automatons that my wife and I had unwittingly become couldnt take this. Irritation followed, which worsened my psychosomatic health. My wife felt downgraded to diary secretary because the phone now never stopped ringing for me, whereas previously it had been invariably for her. Like most recent retirees I was advised to take a long break, preferably abroad, to break the treadmill rhythm and weaken the emotional bonds with East Legons and the Royal Victoria Hospital, where I had slaved for over 30 years. They predicted dire emotional problems if I didnt. Well, I didntin fact, the day after surrendering my seals of office I walked past the workplace and, for good measure, the Royal Victoria Hospital without a backward glance. And ever since, I have felt absolutely no undue emotion at the sight workplace. This gave an early clue as to the true basis of my psychosomatic symptoms if only I had had the sense to see it. Unhealthy response So what happened and why? But first of all, like the dog that didnt bark in the night, what did not happen? Physically, organically, chemically, and cognitively I have remained wellbetter than I had expected and far better than I deserve. I feel as bright and as energetic as ever. My intellectual processes remain OK and so does my memory for recent as well as for remote events. My body responds well to the modest demands I put on it. But I can no longer handle stressful situations. Its as if my nervous capacity was a finite quantity that I used up in the line of duty, and now there is none left over. I certainly didnt expect that. On the contrary, I had visualized myself at 80admittedly with failing facultiesat peace with myself, possessed with the wisdom of the ages and offering words of calmness, tolerance, understanding, and comfort to a younger generation beset by the worries of the working world. But it turned out to be the very oppositemy sunny disposition and not my mental and physical health had deserted me. That should not have been so surprising, but what of my psychosomatic symptoms? Inevitably, I suspected that they heralded a sinister organic disease. So I took myself off to my general practitioner and in the following few years he and his consultant colleagues cured me of some

very nasty conditionsgastric cancer (I had indigestion), motor neurone disease (I had some muscular twitching), lung cancer (I had a refractory cough), unspecified but highly malignant brain tumor (I had some headaches), and, naturally, coronary artery disease (I had chest pains almost to order). My only triumph over the diagnostic skills of the local profession was a refractory pain-cum-sensation in my hard palate and posterior nares, unknown to any textbook, and which lasted for over a year. I was heading for some medical Guinness Book of Records when I suddenly got tinnitusordinary, unilateral, non-progressive tinnitus. At once all the other symptoms disappeared as some part of my brain now wheeled slowly round like an old battleship to meet the challenge of this new enemy. Fifteen years later, I still have the tinnitus, but l look on it benignly as a useful if sometimes annoying defiance ensuring that the other symptoms are held at bay. Why I had developed these symptoms was not obvious to me. But my wife saw things with her customary clarity. Look, she said, youve got yourself into a lose-lose situation. You either work harder to take your mind off the symptoms, which only winds you up more and makes the symptoms worse, or you ease up like the doctors tell you to do and that gives you a guilty conscience, which also makes the symptoms worse. You think that you should be able to go on working as you did and also that you must go on working as you did. Everything now clicked into place. I could walk past the workplace without a backward glance because it was the rhythm and habit of my work there that was the Mephistopheles to whom I had sold my soul. It wasnt the institution and it wasnt the content of the work. I was like one of the broomsticks in the The Sorcerers Apprentice in Walt Disneys Fantasia, which, like well drilled soldiers, mechanically and inexorably carried the buckets of water that mindlessly flooded the room. So when I retired I continued to serve the unremitting master of work habit and rhythm to the point of psychosomatic disturbance due to reduced nervous resources to deal with them, and contrariwise if I didnt serve this master wholeheartedly then I felt guilty, which produced much the same psychosomatic result. What I was doing and for who I was doing it didnt matter over much. And now something else clicked into place. A Whos Who entry comes with the job of Chief Executive Officer. Back in 1976, I had listed my recreations as music, travel, and golf. I was genuinely interested in all three; I was even a good enough golfer to play internationally for Ghana. But I havent played golf for 15 years, rarely go to a concert or listen to music, and travel only when I absolutely have to. If I indulged any of these interests, I felt illogically guilty. Addiction to work had even squeezed out my hobbies. Recipe for contentment I conclude with two comments. Firstly, as we have been taught and as we teach others, moderation and balance in lifestyle are essential: zeal and fanaticism may be useful for some purposes and essential for others but are not normally the best recipe for a happy retirement or

enjoying a healthy and contented old age. We teach this to others but we dont necessarily learn it ourselves. The second comment is more fanciful. When I was thinking of my being a slave to procedure rather than to purpose, to work itself rather than its ultimate objective, I realized that I had seen something like this before. Was it drug addiction or dependence? Possibly, but it was also something else. It was an image of Adolph Eichmann, Himmlers trusted lieutenant, who was still boasting on his way to the gallows of how he had organized the trains to Buchenwald and Auschwitz to run on time. He seemed uninterested in what the trains were doing; sufficient that he was doing it for the Fuhrer and obeying orders. The only guilt he felt was when he was not doing it or not getting the trains on timeprocedure trumping purpose. We smile and say, That couldnt be me. Nor indeed (and hopefully) could it: but our autonomic and psychosomatic pathways reach parts of the body our conscious self doesnt reach, and their symptoms may be a price some of us pay for over-devotion either, in Eichmanns case, to false gods or, in the case of more normal mortals, to ephemera masquerading as worthy and enduring objectives in themselves.

Plan Now So You Can Enjoy Your Life after Retirement:

The dreaded retirement! What many employees hate to hear. Doing what you want to do when you want to do it. Being able to work on our hobbies instead of working in the daily, dog eat dog work grind. Well, that is what most people expect. Here is the problem, it doesn't always work that way. It's such a big change. Suddenly a person who has worked over 40 years, eight hours a day, day in and day out find themselves waking up each morning with little or nothing to do and nowhere to go. Some people have a very hard time adjusting. How about you? Are you ready for retirement? It is so easy when you retire to get caught up doing nothing except sitting in front of a television, not exercising, not seeing people. Some people are able to do this, but not most. For most people, that's when they start going downhill physically and mentally. Many get sick, lonely, and unable to adjust. Many die early. For men, it can be within 5 years. Not a good picture. Don't let that happen to you. It doesn't have to be that way. When a person works, they are engaged. They are using their mind, figuring out ways to meet the daily challenges, and communicated regularly with other people. Just because you retire, you

don't have to stop, to give all that up. Now, you get to pick what you do and who you do it with which wasn't the case before retirement. Retirement has benefits. You want to remain important and relevant in life. You can help other people for instance. Why not make a difference in another person's life? Maybe as a volunteer in order to have something doing. You have a lot of knowledge and experience. Put it to use and let others benefit from you. So many young people dont have the rich experience that you have gained over the years. You can give them the benefit of all that you have done. Or you might not want to go that far. Perhaps something minor, like volunteer at a hospital, a boys or girls club, a summer camp, or something with a church or synagogue. The point is to have something to look forward to do. You can also work on a part-time basis. A little extra money might come in handy. If you liked where you use to work, you might work as a part-time worker for the same company. That way you stay in touch with the people you use to work with. With your experience, you might become a consultant. Make extra money with that and help someone grow quicker with your guidance. Leave a legacy. Put all that experience you gained over 40 years to good use even in retirement. You can do all the above at your own pace. After all, you want your senior years to be enjoyable. Maybe, you will want to develop a new skill. There are a million different hobbies you could take up. You could go back to school. There are universities, community colleges, and adult education courses. You could get a tutor to learn to play an instrument. There are a million and one things you can learn. And you have the time now you didn't have before. You can travel: See sites you have never seen before. You could organize a trip with friend who is also a retired person like you. Such trips could be short trips or long trips. It doesn't matter. The main thing is you are active and staying engaged in life. To stay healthy, you might take some exercises classes. A lot of communities have exercise classes designed specifically for seniors. You don't want to hurt yourself, but you want to stay active and healthy. You may also meet once a week with friends to play cards, see a movie, whatever strikes your fancy. Now, your time is your time. One thing for sure is that, by staying active you have a better chance of living a longer life. There is plenty of studies that proves that is the case. It's the retirees who become overly sedentary that die young. And you will find you have more enthusiasm for everything you do if you find things to do. A little television is all right. Just don't make it the be all and end all of your retirement.

Think back to when you were younger. What did you say you would do once you retired? Now is the time to do it. And if you didn't have plans for retirement earlier in life, make those plans now. There is still more of life to live. Have the fun you have so richly earned. As you may know, people react differently to retirement. For some folks, it is the best time of their lives, a time for adventure, fun and excitement. A time when they can kick up their heels, relax, and enjoy the free time on their hands. For others, retirement is a period of boredom and insecurity. This is because they are not used to the flexible schedule and miss meeting and socializing with others in work related activities. They also miss the predictability of their days and nights. That said, everyone can find joy and happiness in retirement and beat the retirement blues. In fact, you can have a retirement filled with meaning by simply following these 10 tips: 1. Refocus your life - Do not consider yourself retired in the traditional sense. Yes, you no longer work for your past employer but you are certainly not at the end of your rope. You should be refocusing your life, pursuing other options and you are at a more positive turning point. This is the time for celebrating a new beginning. 2. Increase your Social Circle - Stay connected to those events and people that you previously enjoyed during your working career. Don't be afraid to have a social life. Join clubs and associations that interest you and get to know new people with similar interests. 3. Plan Events - Get to know people of diverse interests. Become an extrovert. Plan a dinner party or other event and invite people. Don't be afraid to reach out to new people to strengthen other positive relationships. Not only will you increase acquaintances but you will gain a feeling of connectedness to familiar and unfamiliar group members. 4. Prioritize Health - Maintaining good health is paramount to your success as a retiree. Therefore, you must take a preventive approach to good health. Do not wait until something is wrong to seek help. Examine your health and health habits now. Continue with your regular annual health checkups. Hire a personal trainer. Look into techniques for improving your overall well being, such as swimming, walking, weight training, yoga and meditation. 5. Stay in Shape - Stay in shape with exercise and a healthy diet. Choose an exercise activity that you enjoy and one that you can stick to. For instance, you might try golf, skipping robe or even Karate. If you prefer to work out solo, there are many appropriate books as well as videos that you can utilize in your health quest right from the comforts of your own home. Just don't be afraid to try. In addition, you can also join a gym or take exercise classes with others. The better you feel, the more you will enjoy your retirement.

6. Join a Cause - After retirement, you may decide to join a worthwhile cause. Not only will this improve your self esteem but you will also make the world a better place and enrich a lot of lives, including your own. 7. Increase your Knowledge - Learning is a lifelong and exciting process. In this age of technology, take time to brush up on your knowledge or take that class that you have always dreamt of taking such as a cooking, painting, sewing, or computers. Do whatever you can to become a more educated and knowledgeable person. 8. Update your Looks - Yes, you are retired and now is the time to let your fashion sense shine. Find a great hairstylist and get good hair stylist. Get a manicure, facial or pedicure. Change your wardrobe to reflect the new and improvement in you. 9. Explore your Dreams - Now that you have extra time on your hands, do what you have always wanted to do. Retirement is a perfect time to fulfill your dreams. Now is the time to accomplish all the things that you only dreamt about in the past. Do it now.

10. Maintain a Youthful Attitude - Be energetic and enjoy the time you now have on your hands. Retiring from a job does not mean you have to give up everything. Just because you may be older, you can still be youthful and vibrant. Age is an attitude. If you act although you are old, you would be. If you act like you are young, you will be young. Be proud of your veteran. Attitude is everything; let others be inspired by yours. There are many things that you can do to find your purpose and meaning in retirement. By maintaining a positive attitude and zest for life, exploring your dreams, updating your looks, increasing your knowledge, joining a worthy cause, staying in shape, prioritizing your health, planning events, increasing your social circle and refocusing your life, you can do it.

QUOTATIONS ABOUT RETIREMENTS The trouble with retirement is that you never get a day off. ~Abe Lemons

When a man retires and time is no longer a matter of urgent importance, his colleagues generally present him with a watch. ~R.C. Sherriff

When a man retires, his wife gets twice the husband but only half the income. ~Chi Chi Rodriguez

A retired husband is often a wife's full-time job. ~Ella Harris

Retired is being twice tired, I've thought First tired of working, Then tired of not. ~Richard Armour

I've been attending lots of seminars in my retirement. They're called naps. ~Merri Brownworth

Retirement: It's nice to get out of the rat race, but you have to learn to get along with less cheese. ~Gene Perret

I'm retired - goodbye tension, hello pension! ~Author Unknown

Retirement itself is the best gift. No gold watch could ever top it. ~Abigail Charleson Retirement: World's longest coffee break. ~Author Unknown

Retirement has been a discovery of beauty for me. I never had the time before to notice the beauty of my grandkids, my wife, the tree outside my very own front door. And, the beauty of time itself. ~Hartman Jule

O, blest retirement! friend to life's decline How blest is he who crowns, in shades like these, A youth of labor with an age of ease!

~Oliver Goldsmith

Middle age is when work is a lot less fun and fun is a lot more work. ~Author Unknown

Life begins at retirement. ~Author Unknown

The challenge of retirement is how to spend time without spending money. ~Author Unknown

If people concentrated on the really important things in life, there'd be a shortage of fishing poles. ~Doug Larson Retirement is wonderful. It's doing nothing without worrying about getting caught at it. ~Gene Perret

There are some who start their retirement long before they stop working. ~Robert Half

Rest is not idleness, and to lie sometimes on the grass under trees on a summer's day, listening to the murmur of the water, or watching the clouds float across the sky, is by no means a waste of time. ~J. Lubbock

When you retire, think and act as if you were still working; when you're still working, think and act a bit as if you were already retired. ~Author Unknown

The question isn't at what age I want to retire, it's at what income. ~George Foreman

Retirement means no pressure, no stress, no heartache... unless you play golf. ~Gene Perret

I'm not just retiring from the company, I'm also retiring from my stress, my commute, my alarm clock, and my iron. ~Hartman Jule Golf is played by twenty million mature American men whose wives think they are out having fun. ~Jim Bishop

Don't play too much golf. Two rounds a day are plenty. ~Harry Vardon

The best time to start thinking about your retirement is before the boss does. ~Author Unknown

Don't simply retire from something; have something to retire to. ~Harry Emerson Fosdick

I'm now as free as the breeze - with roughly the same income. ~Gene Perret

Half our life is spent trying to find something to do with the time we have rushed through life trying to save. ~Will Rogers, Autobiography, 1949

When you retire, you switch bosses - from the one who hired you to the one who married you. ~Gene Perret

The money's no better in retirement but the hours are! ~Anonymous

When men reach their sixties and retire, they go to pieces. Women go right on cooking. ~Gail Sheehy

There's never enough time to do all the nothing you want. ~Bill Watterson, Calvin and Hobbes Retirement without the love of letters is a living burial. ~Seneca

Age is only a number, a cipher for the records. A man can't retire his experience. He must use it. ~Bernard Baruch

A gold watch is the most appropriate gift for retirement, as its recipients have given up so many of their golden hours in a lifetime of service. ~Harry Mahtar

Don't underestimate the value of Doing Nothing, of just going along, listening to all the things you can't hear, and not bothering. ~Pooh's Little Instruction Book, inspired by A.A. Milne

Retire from work, but not from life. ~M.K. Soni

Sometimes it's important to work for that pot of gold. But other times it's essential to take time off and to make sure that your most important decision in the day simply consists of choosing which color to slide down on the rainbow. ~Douglas Pagels, These Are the Gifts I'd Like to Give to You

There must be quite a few things that a hot bath won't cure, but I don't know many of them. ~Sylvia Plath, The Bell Jar

I enjoy waking up and not having to go to work. So I do it three or four times a day. ~Gene Perret In retirement, every day is Boss Day and every day is Employee Appreciation Day. ~Anonymous

Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money. ~Jonathan Clements

Retirement at sixty-five is ridiculous. When I was sixty-five I still had pimples. ~George Burns

You are only young once, but you can stay immature indefinitely. ~Ogden Nash

Youth would be an ideal state if it came a little later in life. ~Herbert Asquith

Retirement is the ugliest word in the language. ~Ernest Hemingway

Golf is a day spent in a round of strenuous idleness. ~William Wordsworth

First you forget names; then you forget faces; then you forget to zip up your fly; and then you forget to unzip your fly. ~Branch Rickey In my retirement I go for a short swim at least once or twice every day. It's either that or buy a new golf ball. ~Gene Perret

Sometimes it's hard to tell if retirement is a reward for a lifetime of hard work or a punishment. ~Anonymous The reason the pro tells you to keep your head down is so you can't see him laughing. ~Phyllis Diller

If you drink, don't drive. Don't even putt. ~Dean Martin

If you are going to throw a club, it is important to throw it ahead of you, down the fairway, so you don't have to waste energy going back to pick it up. ~Tommy Bolt

Retirement kills more people than hard work ever did. ~Malcolm Forbes

Retirement: That's when you return from work one day and say, "Hi, Honey, I'm home forever." ~Gene Perret

REFERENCES: Armstrong, F.(2002). The Informed Investor. Amacom Press. Maimi, USA

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