We took to the airwaves recently, invited by WWDB Boomer Generation Radio talk show host Richard Address-- that's him on the left-- to let his listeners know what Coming of Age is up to in Philly. It’s all been memorialized via a podcast that you can check out here. Also, the current issue of Kiplinger's Retirement Report includes an article featuring Coming of Age. Alas, there’s no online version, but if you have a subscription, we’re on the page one in “Try Something New with an Encore Career.”
None other than our own Mayor Michael Nuitter was invited to pen this paean to our fair city, delightfully entited "City of Elderly Love" by AARP for their International Journal. Read it and feel proud (but don't forget we're also the City of Brotherly Love and Sisterly Affection). And in response to this piece there are some wonderful posts on this blog from GenPhilly-- young professionals in our town committed to creating a community in which we all thrive as we age.
Before Philadelphia's world-renowned oncologist and philanthropist Dr. Audrey Evans began a lifetime of research and compassionate care, her teachers accused her of dishonesty...they couldn't believe that this British teenager could read so much so quickly. Don't get Dr. Evans started on that topic! She went on to become an award-winning doctor and researcher whose advances in the diagnosis and treatment of neuroblastoma (a common childhood cancer that strikes before age five) contributed to a 50 percent jump in survival rates. She also founded the Ronald McDonald House to care for families. But, retirement stopped her in her tracks...luckily, not for long... read on to find out about her latest passion.
Pre-retirers are being told to consider taxes as an integral part of retirement planning in this USA Today article. Not planning for taxes in retirement "could be a critical and costly mistake." Consider these five tips that clearly explain how to manage your taxes as you enter this new phase. Accumulating money for your older years is just a start; understanding how taxes affect your savings is the next step in making the most of your well-earned dollars. To learn more, click here.
This is a question that this Forbes article will help you determine. But, first, if you are turning 65 this year, regardless of when you take Social Security and when you stop working, you need to enroll in Medicare when you first become eligible at 65 or you could face higher premiums. By contrast, you can start collecting Social Security anytime from age 62 to 70, and the later you start, the bigger the benefit. Just how much more money you receive depends on your birthday. Click here to learn more about how to proceed (you might want to copy this article for future reference!)
Do you think that working while you are retired means being stuck doing a boring, low-level job? If so, it’s time to update your thinking. Nancy Collamer, career coach and author, has found a growing number of unconventional, fun options for part-time work, that can enliven your retirement and pay pretty well, too. Here are three to consider: Voiceover Professional (in which actors record the audio tracks used in everything from training videos to audio books to TV commercials); Life Cycle Celebrant (someone who helps people commemorate important life transitions;weddings, divorces, adoptions, etc.); and Senior Move Manager (people who assist clients needing to downsize and relocate.) To learn more, click here.
While boomers are pretty sure that they don't want their parents' version of retirement, many of us are not ready for what lies ahead. This article points out the need to understand your finances and your emotional needs before leaving the workplace. A free online tool from T. Rowe Price called "Practice Retirement" can help you figure out how much longer you need to work to be financially secure and recommends a gradual transition to retirement. Equally important, is the emotional transition that retirement brings. Pre-retirement is a good time to begin considering next steps...jobs, travel, time with friends...and taking the time, as Coming of Age believes, to "Explore Your Future."
As retirement gets closer, the checklist of what you need to think about might need review. This article lists a number of areas that you may not have considered, including doing home repairs while still working, looking into your tax situation, taking advantage of your present health benefits, and living on your projected retirement income while still employed. And after you've looked at this list, perhaps you want to add a "bucket" for how you might "give back" to your community in this next phase of life. For that, you can contact comingofage.org. To read more, click here.
As you enter your "encore" years, you might be considering a career change -- maybe leaving your present job and doing something completely different, even starting a business. You feel ready for change, but are unsure of what to do. Here are some helpful books to guide you. Some are practical, offering step-by-step basics, while others serve as motivation to just get out there and do it. Click here to see what interests you. And, speaking of next steps, check out this book review by Carolyn Walter, Professor Emeritus, Widener Univ.ersity, of Susan Abel Lieberman's "Getting Old is A Full Time Job: Moving on From a Life of Working Hard." There is a unique 12-task approach for dealing with "what's next."