Looks Like July Has Run It's Course - Already!

Hmm...Looks like July has run its course already. Just like that!

But that's kind of the way lots of life goes, isn't it? Time rushes by. And we don't quite notice until one day we look up and...well, August is at the doorstep.

In our work, we can sometimes feel like time rushes by. The ultimate experience might be when, after years and years of labor, "retirement" looms. For some folks this is a daunting matter.

Working with people either approaching or in retirement, you see, in many cases, the distress that arises as "the date" approaches. For some, it gets pretty ugly.

Why is that? Not having a definitive answer, here are some guesses based on experience:

The soon-to-be-retiree somehow has identified themselves with their job, or in a more grandiose manner, with their "career." Indeed, being American may have a hand in this. Here's why:

Have you ever noticed how we ask people "what they do" when we meet them for the first time? That's not the habit of folks from other countries. Indeed, if you have ever brought up this subject talking to someone from, for example, Europe, don't be surprised if they're taken aback at this being our first approach to a new acquaintance. (On the other hand, they may have experience with Americans in business and simply think, "There they go again!".

Interestingly, the identification of self with specific work or career seems to be dissipating. Younger folks seem to have an idea that there's more to life than work or a particular career. So maybe as this develops they'll not be so daunted by the prospect of their working career ending.

Indeed, if they remain steadfast in their view of themselves vis a vis their work, they may not have the trouble so many retirees seem to face when their days at a paying job end. This may be the biggest hurdle for many. It seems folks basically work and that's that when it comes to life.

Sure, they may attend to domestic matters when they're not on the job. But what about hobbies, avocations, etc.? These are not common to many. So when they hit the end of the road, they're at best befuddled: "What am I going to do now?"

Those of us who have other interests besides the daily grind on the job may find this puzzling, but there it is. Having encountered enough of these types, it's not all that uncommon.

Of course, there are some who must work well into their dotage. Indeed, statistics about the Baby Boomer generation are rather startling in this regard, While some of these gray hairs have built up a tidy nest egg, many - it's claimed most - have not, Why?

For one thing, they simply spent their way into retirement. Not enough savings. Did some invest aggressively enough to reap the benefit of the unusually strong stock market that pretty much accompanied their working lives? Maybe some. But the real issue is saving and controlling spending, not how astute an investor you might be. That's where the rubber meets the road when it comes to financially planning for the future. 

And then there's divorce. So many Boomers are divorced. And it's not uncommon in divorce settlements for the couple's assets to be divided more or less equally. So you divorce, you lose half of what you managed to squirrel away. Divorce more than once, and you'll be lucky if you've got enough nuts for the winter.

Well, looks like this idea of time rushing by has spawned some discussion of "retirement." It is, after all, a phenomenon derived from work. Of course, both "work" and "retirement" can be rather general, even vague concepts unless we drill into them. We've done much drilling into work over the years, little, if any, into retirement. 

With that in mind, as summer zips by, let's spend a bit of time on this retirement thing.

OK?

Next time...