New challenges and opportunities inspire boomers to explore options
By: Gloria Hayes Kremer
What are you doing the rest of your life?
It’s a question baby boomers like Arlene and Dan faced as they abandoned their 9-to-5’s. Two successful professionals, they planned their perfect vision of retirement, which included moving to a beautiful spot in France they had visited during several vacations. They would visit museums, paint, sketch, visit friends and enjoy cooking, their favorite hobby.
After 18 months away, they suddenly returned to their hometown and were asked, "What are you doing here?"
"It was horrible," they said. "It’s not for us."
Then, laughing, they added, "We flunked retirement."
While most Americans spend years daydreaming about retirement, baby boomers are quickly realizing traditional retirement isn’t for everyone, said Jeri Sedlar, co-author of "Don’t Retire, Rewire! Five Steps to Fulfilling Work That Fuels Your Passion, Suits Your Personality or Fills Your Pocket" (Alpha Books).
More than 77 million baby boomers were born in the United States between 1946 and 1964. Many, now in their 50s and 60s, will soon see their family and work obligations recede, presenting them with the potential to become a dynamic social resource.
In the Delaware Valley, there are nearly 1.5 million people ages 50 and older. As that number continues to grow, the boomer generation will redefine aging and aging will in turn change the boomers, who are considered the healthiest, most active and best educated in the nation’s history.
Ms. Sedlar and her co-author husband, Rick Miners, interviewed Arlene and Dan for the book and concluded that, with some introspection and planning, the couple could easily have found a satisfying retirement in their own back yard.
"All they had to do was to know themselves better," Ms. Sedlar said.
At WHYY’s Technology Center in center city Philadelphia, a three-part public television lecture-and-discussion series titled "Boomervision!" explored the transition of the tristate region’s baby boomers from work to rewarding and enriching retirement.
The "What Next?" episode featured a panel of high-profile citizens who themselves are in the midst of planning their retirements and deciding their next steps.
Panelists included Gail Shister, Philadelphia Inquirer syndicated television columnist; Scott Palmer, WPVI news and sports anchor, retiring after 33 years; Marv Schlanger, former ARCO Chemical CEO; Oliver St. Clair Franklin, honorary British Consul and President and CEO, International House Philadelphia, and Lily Yeh, artist, urban designer and former head of the Village of the Arts and Humanities.
Due to illness, Mr. Sedlar was unable to moderate the series. Dick Goldberg, "Coming of Age" director for the initiative led by Temple University’s Center for Intergenerational Learning, WHYY Wider Horizons, United Way of Southeastern Pennsylvania and AARP Pennsylvania, filled in.
The nonprofit "Coming of Age" project promotes volunteerism, learning and community leadership for people age 50-plus. The "Boomervision!" discussion built on those initiatives by explaining there are many great opportunities in the Delaware Valley region Pennsylvania, New Jersey, Delaware for soon-to-be retirees approaching their second phase of life.
"At least 76 percent of people at retirement age want to do some kind of work, usually new work," Mr. Goldberg said. "They feel it gives them purpose and value. About 17 percent just hit the wall and pursue traditional retirement."
"Coming of Age," he added, is now developing a resource-rich Web site that will train residents for volunteer positions and help residents plan for the future.
The panel members, all successful and educated achievers, offered capsule assessments of how they view the next stage of life.
"Retired CEO’s are a strange lot," Mr. Schlanger said. "The have long been in control, made judgments, seen their decisions carried out and suddenly they don’t have their empire. Since I retired, I’m looking to invest in some new venture. I’m not sure just yet what it will be."
Mr. Franklin retired from his job as an investment banker and "now I love my work at International House, particularly being around young people. Their energy is very infectious."
Mr. Palmer said, "Since I’m only retired about 72 hours, I can’t say exactly what I will be doing. But I hope it will be something creative. Right now, I know I will miss the daily stimulation of news reporting and seeing my colleagues each day."
Then, he pointed to his 91-year-old father in the audience and said, "There’s my inspiration my father has always set a great example of how to live."
At the Philadelphia Inquirer for 26 years, Ms. Shister, agreed that her work was very rewarding. "I have a platform every day where I can say whatever I want. That will be hard to give up, so I’ll have to think about what I will do. With a 19-year-old daughter in college now, I will probably be working for some time."
Ms. Yeh has always loved her work but advises that there are many volunteer jobs to be filled in society. "I hear people say how great it is to be around young people but I don’t hear how rewarding it is to be around older people. Volunteers are needed who are older and experienced and have much to offer."
Government data shows that the percentage of people 65 and older who are in the workforce has continually risen since the mid-1990s, after decades of decline. In 2001, it was 12.8 percent, higher than at any time since 1979.
"We plan our careers, but we don’t plan our retirement," said Dr. Phyllis Moen, director of the Cornell Employment and Family Careers Institute at Cornell University. Dr. Moen’s study substantiates a turbulent transition after quitting work. She found that for many couples, the first two years after leaving a job were a period of marital strife.
The transition to retirement is stressful, Ms. Sedlar agreed. "This stress is made worse by not having a plan. The old adage, ‘If you fail to plan, then plan to fail’ is as true for retirement as for anything else."
She believes there are three main areas that cause stress: lack of psychological preparation; lack of fulfilling time-filling activities; and change in family dynamics.
Former President Jimmy Carter calls his 1980 presidential defeat his involuntary retirement. When he went home to Plains, Ga., Mr. Carter was 56.
"I realized that according to the life expectancy tables, I had 25 years to go," he recalled. "What was I going to do with 25 more years? I was in a little town with 600 people and no job opportunities."
People now applaud the tremendous contribution that he and his wife, Rosalynn, have made with their fulfilling and charitable work with Habitat for Humanity.
Psychologically, boomers seem to be closer to younger than to older Americans. They have had a significant impact on society, business and the economy, as evidenced in all areas of consumer spending from demand for baby products, housing and vacation homes to growth in retirement savings plans as they prepare for their senior years.
Studies show that boomers tend to be more optimistic and ambitious and thoughtful about the future than the older generation. They are more racially and ethnically diverse than older generations.
Since the boomer generation spans nearly 20 years, older and younger members are in different stages of life, with children found in most households in the younger group, while many older boomers are empty nesters. Studies show that most boomers are confident they can shape and handle their future.
"Retirement is going from," Ms. Sedlar said. "Rewirement is going to. This whole new mindset can open doors to a journey of possibilities."
The book lists "Ten Ingredients for a Successful Rewiring," including: having a positive attitude; maintaining good health; an awareness of your financial picture; an open mind; a desire to stay connected; self knowledge; meaningful interests or a desire to discover them; intellectual curiosity; a willingness to explore, and flexibility.
For more about "Don’t Retire, Rewire!," visit www.dontretirerewire.com.
For more information about the "Coming of Age" project at Temple University, visit www.comingofage.org.