The way I think about it, there are two areas of preparation when it comes to retirement: financial and non-financial. In other words, can you afford the type of retirement you want and what you need to do to prepare for such a retirement. The financial preparation aspect gets a lot of press, in part because of the multitude of financial planners who want your business to help you accomplish your financial objectives. It’s also the easier of the two areas to quantify. The non-financial preparation category, on the other hand, gets far less press. You typically see this topic discussed either in the self-help section of your favorite bookstore (or Amazon) or by life coaches who want your business. It’s also the harder of the two to nail down. In my opinion, you need to identify your non-financial objectives BEFORE you can identify the financial objectives. The non-financial objectives are the end, while the financial objectives are the means to the end.
I never contemplated retirement in my 30s or 40s as I enjoyed following my career aspirations. But, I had identified late 50s/early 60s as my ideal age range in which to retire, primarily because of my love of travel and my many hobbies. I knew I wanted to have time during my “go-go sixties” to enjoy these activities while still being physically able. But, I also knew that keeping busy wasn’t the only thing I needed to think about. There’s a huge psychological component to retirement as well. We, as humans, need to feel as if we have made a difference, in whatever way is important to us. To advance my preparations, I hit the books and talked to friends. As I’ve stated before, I don’t pretend to have this “retirement thing” nailed. It’s a work in progress and I find a new facet arises every day. The purpose of this series of posts is to give a high-level view of my approach, which I expect to further evolve in the weeks, months and years to come.
For today’s post I’ll focus on the book element of my preparations. Please note that I could go on at some length on this topic, but I’ve worked hard to keep today’s post at a reasonable length.
One must always be careful of books,” said Tessa, “and what is inside them, for words have the power to change us.
Cassandra Clare, Clockwork Angel
There have been a handful of books I have found that significantly molded my way of thinking about retirement. They frequently involved travel, but also made me think outside that singular element my newfound freedom permits. The first book is Purposeful Retirement by Hyrum Smith. While my initial reaction to Smith’s book was that it was dry, I found some great pointers in it, as discussed in a previous blog entry. I found some of the exercises to be helpful, particularly the “Purposeful Planning Questions” found at the end of each chapter. Through the resulting self-reflection you find those soft spots where further reflection might be useful. The title for the some of the chapters within the book give you an idea of nuanced areas of focus: Turning in the Title; Discovered Values, Directed Time; Purposeful Planning; Make a Difference; Retiring Together; and Purposeful Happiness.
A second book which helped me prepare for retirement is Why Buddism is True by Robert Wright. This book was particularly helpful in identifying for me ways to interpret why I was thinking and feeling what I was thinking and feeling. It gave me a framework through which to process the approach and feelings of transitioning from a lifestyle job and career to retirement. It also gave me a way to think about self-care through philosophy and meditation. Plus, it’s just a darn funny book to read (or listen to via audio book). Wright’s humor amidst this somewhat foreign topic is awesome and makes the book all the more enjoyable.
The next two books that had the greatest impact were Travels with Epicurus by Daniel Klein and Traveling with the Fates by my late friend Peter Stathopoulos. The Epicurus book gave me insight into what I hope to get from travel (i.e., learning about and contribute to other cultures beneath the veneer of tourism at a pace which allows me to me to meet the locals and truly observe their daily ways of life). The late chef Anthony Bourdain was a master of this in the context of a cooking show. His dinner table discussions with local residents of the places he visited were, for me, often the highlight of his “Parts Unknown” shows. I have often enjoyed such conversations with locals, or with other travelers, while on vacation and, through this introspection, came to realize how important that is to me. Peter’s “Fates” book gave me several things: realization of how fortunate I am and have been; an outlook on life through the eyes of someone with a fatal diagnosis; and appreciation of travel as a way to learn more about oneself and humankind. The Walt Whitman poem “Song of the Open Road” describes this by stating that the open road is where a man experiences realization and is “tallied.” “He realizes here what he has in him….” Peter’s book also lays bare the cost of waiting. In his prologue Peter states that he had long dreamt of taking a trip to Greece with his children but had “never quite gotten around d to do so, waiting for the perfect time.” He goes on to state “I realized this sort of time-out-of-time together would soon be limited by the logistics of their lives blooming in multiple directions. Five days before we left for Greece, my diagnosis with ALS revealed just how limited it was.” [emphasis added] Peter was a good friend and a gifted writer. His 92-page book is a legacy to his kind, caring, and adventurous soul.
Last, but certainty not least, my favorite book focused on retirement planning is “How to Retire Happy, Wild, and Free” by Ernie Zelinski. I love Zelinski’s optimistic approach to encouraging the reader to identify what he or she wants out of retirement. Zelinski uses stories from readers and other authors to bring to life the process of transitioning to and during retirement. The book is filled with insightful quotes, humorous cartoons, practical exercises, and references to resources to assist in the retirement journey. Zelinski also takes a minimalist approach to help his readers realize they don’t need a great deal of money to have a happy retirement. The key is to identify what you like to do and figure out how to work them into your retirement plan, while not ignoring those things that often undermine a retirement (e.g., not being active, not maintaining social connections). My three favorite take-aways from Zelinski’s book are: (1) giving oneself a new title when leaving the workforce (e.g., “Connoisseur of Life” vs “retiree”); (2) planting your “tree of life,” which is a list of things you previously liked to do, currently like to do, and have always wanted to do (i.e., a list of activities you can pull out to remind you of things that make you happy vs. simply following the daily flow of activities that may arise); and (3) a reference to the organization Help Exchange, “an online listing of host organic farms, farmstays, hobby farms, lifestyle blocks, homestays, ranches, lodges, backpackers hostels and even sailing boats who invite volunteer helpers to stay with them short-term in exchange for food and accommodation. HelpX is provided primarily as a cultural exchange for working holiday makers, who would like the opportunity during their travels abroad, to stay with local people and gain practical experience. In the typical arrangement, the helper works an average of 4 hours per day and receives free accommodation and meals for their efforts.” While I have not yet taken advantage of this program, I like the notion of getting more embedded in the local culture in a way that keeps me active and allows me to meet new people. I have established a membership (20 Euros for two years) so that I can research the opportunities and begin looking for a way to participate. More to come on this when I am able to “make it happen.”
Thank you for working through this rather lengthy entry. I hope you found it, and the links to the named resources, interesting!