Getting Out Of Debt

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

Some interesting statistics:

- About 10,000 people in the U.S. and another 1,000 in Canada retire every day

- Average age of retirement is 57

- In the last century, longevity in western cultures has increased by 30 years

If you maintain an active lifestyle and benefit from the medical advances in our time, you can be 'retired' for more than 30 years!

This has me thinking about the choices we all can make on how to spend that phase of life. With the large number of baby boomers (including me) now heading into those years, the model of retirement is changing. One choice is to follow the old model of retirement by focusing on the financial aspects, the 'maintenance' mode. This typically means planning how much money you will need to pay your bills including medical expenses and still have some leisure such as regular golf or bridge games or a bit of travel.

However, the idea of retirement is going through a transformation. There are even new names for it. One of my favorites is RENEWAL.

Some of us want to continue working, and some need to keep working. If this is your choice, think about how you can make the transition to part-time work in your current field. You might consider being a consultant so that you can work at your convenience. There is no substitute for experience, and your knowledge will be valuable to others. Serving as a mentor or tutor could be an ideal role for you. My grandmother, a former schoolteacher, still tutored children when she was in her 80s!

This could be the perfect time to try something new. My parents continued to substitute teach after they retired. Then they began a new business targeted for the senior market, giving bus tours around the country. My father especially enjoyed the learning that went with this new venture. As he learned the travel business, he acquired computer skills to do research on their travel locations via the Internet and to use email to communicate. They showed us how to add life to your years.

Are you ready for your own personal renewal plan? Here is your assignment. Start planning now if you haven't already done so. Go beyond financial aspects of retirement.

1.Choose your focus. How do you picture this period in your life? You may want to find pictures from magazines or elsewhere of people enjoying the lifestyle you want.

2.Do research by reading books and magazines, searching the Internet, and talking to other people.

3."Dip your toe in the water." Get involved in your planned pursuits for retirement. For example, volunteer for a favorite cause.

4.Check out special deals for seniors on courses and trips through Elderhostel and your local colleges and universities. Get on mailing lists for this information.

5.Think about how you want to make an impact and carry out your values. Look for role models you can use for inspiration. Whether it's Peter Drucker still lecturing and writing books at 95 or Paul Newman launching a food business that contributes its proceeds to charity, you can find active seniors who have made a significant difference in the world.

6.Go to my website Resources section http://www.one-e-anna.com/resources.htm and order "It's Only Too Late If You Don't Start Now" by Barbara Sher and "The Fountain of Age" by Betty Friedan.

Take the first step, however small, to carry out your plan. The time of RENEWAL can be very exciting!

Retirement holds up a light for us so we can see a wider horizon where we can become more interesting even to ourselves; more alive, more personal, and certainly find deepened meaning in life as never before. (Richard P. Johnson, author of The New Retirement:Discovering Your Dreams

Anna Watkins is a Career Coach with a special interest in group coaching and Master Mind Groups, networks of likeminded people who support and help each other stay on track with their life goals. You can learn more about the resources she offers through her website: http://www.one-e-anna.com

AP - Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 billion thanks to high oil prices and the weak dollar.