The Jamaica Observer

May 19, 2005

 

For A Successful Retirement

Mention retirement planning and most people immediately think about savings and pensions. But finances are just one factor in the retirement equation. It is also important to take steps to ensure that you still have an enjoyable and meaningful life. Here are some professional recommendations.

By Camille Taylor

Change your view of retirement

Retirement is not the end of your active life, but rather the beginning of an exciting new phase, says Ken Dychtwald, author of Healthy Aging: Challenges and Solutions, "retirement, as we know it, is dead. It's no longer an end. It's a turning point."

The author stresses that daily activity is important to the quality of an individual's life and each person must think seriously about how they will spend their time once they retire.

Dr Denise Eldemire-Shearer, chairperson for the National Council for Senior Citizens, agrees. "There are still 24 hours in every day, you have to think about how you are going to fill them up," she says. "When you retire you will still want to have a purpose. You will want to feel valued and to be valued you have to be involved in something."

Become involved in meaningful activities

The most important thing for retirees is to still be involved in meaningful activities. Dr Eldemire-Shearer says churches and service clubs are excellent vehicles for retirees who want to stay active. She also stresses that senior citizens can find meaningful activities at home. "Grandparenting can be a very fulfilling occupation for senior citizens because it makes them feel worthwhile."

Dr Eldemire-Shearer also emphasises that it is never too early to start planning for retirement activities. "I know a gentleman who wanted to do a hobby when he retired and he began collecting the tools five years before his retirement. By the time he retired, he had everything he needed," she says.

Ellen Freudenheim, author of Looking Forward: An Optimist's Guide to Retirement, advises current and future retirees to "identify one or two things that you can structure your time around. Volunteering, retraining for a new career, grandchildren, travel and personal hobbies are all perennials," she says.

Freudenheim also stresses that you should make time for fun. "Kick back!" she advises. "Make sure your schedule doesn't get so busy there's no time for you. Make time to read, garden and meet new people."

Plan around your limitations

Aging may bring some amount of physical limitation but where this occurs, Dr Eldemire-Shearer insists, senior citizens should simply plan around it. "If you have problems with your eyesight, maybe embroidery can't be the thing for you, so you will possibly have to focus on something else. If you have bad eyes and you like to read you can get large print or get books on tape. If you have to use a walker it means you'll have to sit down while you do your gardening but there is no reason why your activity should be limited," she says.

Know what benefits are available

Many retirees remain unaware of the numerous benefits that are available to them from various public and private sector entities. "Do your research," Dr Eldemire-Shearer advises, "Check out the medical schemes like the Jamaica Drugs for the Elderly Programme (JADEP). Find out which pharmacies, banks and supermarkets have special discounts or schemes for senior citizens, know what is available."

Be vigilant about your health

Freudenheim equates maintaining good health during retirement with having money in the bank. "You can save thousands of dollars in health care costs just by living healthily, so invest in a healthy regimen by eating healthily, losing weight if necessary and getting enough exercise," she says.

Similarly, Dr Eldemire-Shearer advises senior citizens to "get rid of the risk factors for diseases". The best way to do this, she says, is by "cutting down on some of the dietary evils that we love so much." Dr Eldemire-Shearer adds, "make sure to have your eyes and teeth checked regularly".

Think beyond the financials

Saving for retirement should not be confused with planning for it, says Helen Dennis, a US-based retirement expert. According to Dennis, "most people don't grasp that they may have 30 years in front of them when they retire and they aren't sure what will make this stage of life meaningful. Unfortunately, you can't put that on a spreadsheet."

She adds, "Take a clue from your past 30 years. You are who you are, but what you have is an opportunity to express it differently."

Dr Eldemire-Shearer agrees, "Sixty-five is no longer old, seventy is no longer old. When you retire there is still a lot of life ahead of you. It's important to think carefully about what you want to do with your time."