Episode 1: Don't Retire, Re-Inspire: Embarking on the Retirement Journey with a Spark of Inspiration
Hey there, lovely listeners. It's Lynn Nicholoff, your podcast host. Get cozy and grab a cuppa because you're in for a treat. Welcome to Don't Retire Reinspire, your go to podcast for an inside look at my journey into a retirement that's not just about kicking back, but also about kicking it up a notch and finding new ways to make every moment count and along the way maybe discovering my purpose. So join me as we embark on this exhilarating adventure together, exploring the possibilities that retirement has to offer.
Lyn:We'll discover new passions, maybe even reignite some old flames, and we'll delve into the heart of what it means to truly live life to the fullest even after bidding farewell to that terrible 9 to 5 grind. Expect some heartwarming stories, insightful conversations, and practical tips to help you navigate your own path to a retirement that's brimming with purpose and fulfillment. So sit back, come on, relax, and get ready to be reinspired as we uncover the secrets to a retirement that's anything but retiring. And in today's episode, we're diving deep into the backstory of how my journey into retirement began. The twists, the turns, and serendipitous moments that led me to take the leap into reinventing my retirement.
Lyn:And also to throw out some of those time worn stereotypes because I want to retain relevancy. But it's not just about me. I want you to feel that you're right here beside me, sharing in the journey every step of the way. So grab your favorite snack and get that cup of topped up, settle in, and let's embark on the storytelling adventure together. And who knows, you just might discover a nugget of wisdom or a boost of inspiration that sparks your own reinvention journey.
Lyn:Get ready for a rollercoaster ride of emotions, insights, and moments. This is one episode you'll not want to miss. Well, it all started not at the beginning, but there on the couch. And if I'm being honest, it was one of those days where just nothing seemed to go right. You know, those days when even the weather is crap.
Lyn:Yes. I was in a real funk about transitioning from the formal workplace and steady income to what some might call the retirement years, the sunset phase. Or as some might even have you believe, the kickback years. If you're listening to this podcast, then you already know that the usual euphemisms and tropes about retirement such that we don't know how lucky we are. Yeah.
Lyn:Right. Call it what you will. But I just wasn't feeling the vibe. I couldn't help but wonder, how did I end up here? I'm fit, well educated, brimming with energy.
Lyn:I still feel relevant. Damn it. As I glanced over my recently updated CV, highlighting my knack for quick learning, adaptability, stellar communication skills, and boundless passion, it hit me. Maybe this could serve as the starting point. I could approach the next phase of my life like applying for my first job.
Lyn:Remember that time when the world was your oyster and you believed that you could do anything or everything? And you one day, you would be this amazing person. And, but now I just don't know what I want to be. If this sounds like you, don't worry. In the coming episodes, we will uncover some strategies and ideas for exploring ways to leverage off your skills and knowledge.
Lyn:Anyway, back on the couch, there I was in my funk, and I was beginning to get fired up about beginning my new journey with all the and optimism of an 18 year old and a bank balance that certainly didn't look like what the retirement commission told me that I would need, you know, that sort of a $1,000,000 sort of mark. And I was really more like Peter paying Paul. But, anyway, I digress. So there I was on the couch and I had no idea what to do, and my mind drew a blank. This was truly a senior moment.
Lyn:I couldn't conjure up a one idea of what to do. It felt like being back in the training room where I'd spent spent the latter part of my work life ready to brainstorm a crucial issue only to realize I'd left the box of Sharpies at home. So where the hell is my Sharpie? I need to get started. So I sprawled out on the couch, and I was hosting a bit of a pity party of 1.
Lyn:You know the drill, the whole poor me, nobody cares, nobody wants me, you know, shedding a tear into my now cold cup of coffee. And I was indeed a sorry sight. Fortunately, there was no courier drivers knocking at my door because I wouldn't have been able to have answered it such as my mascara was rolling down my cheeks. Anyhoo, I decided to raid the pantry, always go to pantry, for looking for a delicious snack. Only I realized I'd polished off the chocolate 30 minutes before and there was none left.
Lyn:And then as the light flicked off in the pantry, a light bulb flicked on on in my head. And I found my senior moment. You see, that's the great thing about senior moments. You will find that lost moment eventually. It sort of hangs there in the ethers.
Lyn:And when you least expect it, ta da, there it is. So there it was, the idea I had been searching for. I know I want a retirement with meaning to discover my purpose. I want to keep learning, to dive into new experiences. I want to stay relevant.
Lyn:After all, I can use chat GPT and am a podcast edit. I'm up with the play, as my mum would proudly say. I had to tackle this crisis of confidence and uncertainty surrounding my retirement. From my history studies, I know that retirement comes from the Victorians. And they introduced retirement as a way to give factory workers a few months in the sun before they died.
Lyn:That concept is totally irrelevant today in a world of online shopping, working from home, and digital literacy. I don't need to retire my skills and knowledge like a 19 sixties woman being forced from the workplace when she becomes a mother. Do you feel like this too? In a forthcoming all episode, I will talk about transferable skills. Anyway, yep.
Lyn:There I was back on the couch, drying my tears when I realized there is no clear playbook giving me directions on where to go and what to do and how to navigate this thing called retirement. I quietly wish there was a retirement 101 course just tailored for baby boomers, complete with a graduation ceremony and a fancy certificate, and where I toss my tasseled cap into the air. And everybody is cheering, and the world is knocking at the door just waiting to recruit me to their team. Yeah. Right.
Lyn:I next turned to uncle Google in the hope of finding such a course, but all I got were links to 3rd age universities and sip and paint classes. While useful, they didn't quite fit the bill for my quest. Next, I consulted Chat GPT for ideas, but all it offered were the usual suggestions like volunteering, join a bowls club, you know, and chasing those perpetual sunsets as a gray nomad. Sure, I could envision myself as a gray nomad with a buttery chardonnay in one hand, cueing the music on my Bluetooth speaker in my left hand as I watch the sunset on the on a West Coast beach. But I don't have a bank account for a Grey Nomad Chardonnay lifestyle.
Lyn:We'll talk about budgeting in a coming episode. So there I was, I took it upon myself to have a heart to heart with my friends to see how they were navigating their sunset years. Sure, they're the those whose cups always seemed half full, you know, living the dream and all that jazz. Lucky them. But a chunk of my mates echoed my sentiments, scratching their heads and wondering, how on earth did I end up here?
Lyn:This really got me thinking. It seems like there are 2 distinct groups of baby boomers facing retirement. First, those who find themselves unable to financially bid farewell to the formal workplace just yet, whether it's still grappling My My heart truly goes out to this group. The job market is as tight as I've ever seen it. And with interest rates and inflation teaming up against them, it's a tough spot to be in.
Lyn:I recently witnessed this firsthand through a friend who retired at the close of last year, only to find themselves back in the workforce a mere 3 months later. The sudden loss of her income had put immense pressure on the family's finances, and they had no choice but for her to return to work. It's a stark reminder of the harsh reality that without a steady stream of income, the road ahead can look pretty bleak. To anyone finding themselves in a similar situation, my thoughts are with you. Then there's the other group, a diverse bunch divided into various tribes.
Lyn:Among them are those who seem to be galloping along, living the dream, and others who, like me, feel a bit bewildered, maybe even daunted about how they ended up here and uncertain about how to craft a retirement that feels meaningful and fulfilling, and a time to discover your purpose. So which tribe do you find yourself belonging to? Anyhoo, this got me all fired up. And as the sun dipped below the horizon, memories came flooding back of who I used to be. I was that rebellious schoolgirl to finally hitching my brown surge gym frock to flaunt my bottle green witch's britches.
Lyn:I broke all the rules at my all girls school, always getting detentions, having fun just just upsetting the prefix. And I well remember the reaction from my teachers when I insisted on studying the 3 sciences. And I was the first to do so. This was quite bro groundbreaking. Oh, and let's not forget the time I scrubbed 11 floors of toilets just so I could fund my overseas adventure to the UK.
Lyn:So why was I suddenly feeling so out of sorts about the sunset years? Surely, all I needed to do was to find that spark, that same determination that seen me brush off gravel rash from my chin and charge ahead despite the fear. Yes. I can do this, and so can you. So let's dive head first into the wonderful world of challenging retirement stereotype stereotypes.
Lyn:Let's take a short break, and I'll be back in a moment. If you asked a random group of people to describe a typical retiree, I bet you'd get a parade of classic stereotypes marching by. You know, gray hair, walking sticks, slow paced strolls, both physically and mentally, resistance to change, a lack of tech savviness, and a routine revolving around walking the dog and dunking ginger nuts into milky tea. But hold up. That's not me.
Lyn:Like I mentioned earlier, I'm all about embracing AI for writing, tuning into podcasts, rocking a smartphone, and knowing that a Teams meeting isn't just about a huddle on the rugby field post game. I can handle remote work like a pro, navigate with GPS, and you better believe me, I'm in love with my air fryer. Those retiree stereotypes, well, they seem to be more fitting to previous generation, not us baby boomers. We are part of a cohort that's hailed as the healthiest, wealthiest, and most educated compared to those who came before us. I'll never forget my 60th birthday bash with everyone saying, welcome to the new forties.
Lyn:If 60 was the new 40, then surely I had plenty of vibrant years ahead of me. Right? But then reality hit. In less than a decade, I went from being a hip happening middle aged 60 something to feeling like yesterday's news and being constantly told that I'm lucky to be retired. In all that time, all that money to spend on overseas holidays, and they always say things like, your garden must be amazing.
Lyn:Yep. I'm no longer the new 50. Nope. I'm officially old. It's funny how life throws these curveballs, isn't it?
Lyn:It takes me back to my brownie days when I was told that I was too young to be a sixer and spruce up the brownie garden for the sprites, who were my crew. Every week, I'd meticulously polish my brass brownie badge. Do you remember those? Yep. With Brasso, you'd polish them up and pin them to your yellow tie, hoping to show brown owl that I was a dedicated brownie.
Lyn:And then when the coveted role was finally up for grabs, I thought age was finally on my side. But to my dismay, the brown owl appointed a younger girl to the 6th position, leaving me feeling like I'd aged overnight. How did that happen? Ah, I now feel like that eager, wide eyed brownie who was always the first to show up every Saturday, never got a scolding, and was promised the prestigious role once I came of age, only to realize I somehow missed the coming of age memo. Yep.
Lyn:I was like a brownie spinster, or you could say a baby boomer who'd missed the middle aged boom. And there I was sprawled out on the couch, belting out Leslie Gore, it's my party. You know, the part where she sings, and I won't sing it. Cry if I want to. You would cry too if it happened to you.
Lyn:Well, 2 generations ago, far too long ago, our family trees, yours and mine, were dotted with relatives who didn't make it past their twenties thirties. And believe it or not, even my life expectancy was just 67 when I started my journey in education. Let me share with you a story back to a time far too many years ago than I care to remember, and I found myself chatting with an insurance agent discussing all sorts of insurance options, including endowment policies that would have given me a lump sum of cash once I hit a certain age, like retirement. Now back then, retirement for me was a very distant concept as a young teacher, something I didn't want to ponder, let alone even plan for. But lo and behold, the conversation took an unexpected turn towards how much money I might might need when I hit the ripe old age of 65.
Lyn:Now brace yourself for this one. The insurance agent looking at the actuary reports dropped a bombshell. According to the actuary calculations, as a teacher, I was expected to kick the bucket within the 1st 2 years of retiring. So naturally, it was argued, there was no need for me to splurge on an expensive endowment insurance because, well, I'd be pushing up daisies by the age of 67. I just couldn't believe it.
Lyn:After 40 years of shelling out premiums, I'd only get a maximum of 2 years' worth of benefits. So so there I was, doing the arithmetic, realizing that if all things went according to plan and I stayed in good health, avoided risky sports, I had a solid 40 years ahead of me. After all those years of raising kids, paying off the mortgage, and weathering life's ups and downs, the idea of planning for a lengthy retirement seemed unnecessary. After all, my chosen profession was deemed so stressful that it would lead to my early demise. Anyway, long story short, I ended up passing up on the insurance and eventually bid a due to teaching.
Lyn:Although I must confess, there was a kernel of truth in the data. A colleague of mine tragically passed away in 1995 from a massive heart attack at the tender age of 58. So may maybe those actress weren't entirely off. Stress really can be a killer. And that's when it hit me.
Lyn:I was beginning to understand the conundrum of my retirement. I'm a baby boomer who is fighting irrelevant historic stereotypes of aging. Let's take a short break. And when we come back, we'll look at who the baby boomers are. We've been for a long time, ready for some more Let's take a closer peek at who exactly the baby boomers are.
Lyn:We're the ones born between 1946 and 1964. And, oh, boy, did we make our entrance into the world known. In fact, the year 1961 saw a whopping 65,476 bundles of joy welcomed into the world in New Zealand alone. Now that's a lot of babies and a hell of a lot of nappies. And I can still recall back in the day, our backyard resembling a maze of pristine white pursl nappies drying on the line and the wooden pegs clunking into an empty galaxo milk powder tin.
Lyn:Us older kids took turns wheeling the white cane pram to the bus stop on family benefit day. Hard to believe, but those babies born in 1961 are now turning a sprightly 63 years old. Demographically speaking, baby boomers make up over 17% of the country's population, making us the largest cohort yet to make the leap from the formal workplace. Here's an eye opener. According to Aldenet, it's projected that by 2035, those over 65 will inject a whopping $50,000,000,000 into the economy through their spending and over 20,000,000,000 in unpaid or volunteer work.
Lyn:As for our current ages, well, baby boomers range anywhere from 60 to 78. So it's safe to say that the majority of us are already mulling over or actively exploring retirement options. And there it is, my dilemma laid bare. What are my options and what lies ahead? I'm facing the reality of having a good 20 years of mostly productive living ahead of me, blessed with mostly good health.
Lyn:So the question becomes, how do I make the most of this time enriching it as much as the previous chapters in my life? I want to discover my purpose, not retire. Let me paint you a picture with a story of a friend who bucked on the I'm going to spend my retirement reading route. Fit and healthy, he made the decision to retire at 63, which was then the official retirement age, after dedicating 40 years to his profession. Well, you know the drill.
Lyn:Workplace politics, a marriage breakup, and a dwindling energy, and interest in the job played a part in his decision to leave the workforce. Thankfully, he had some a pension fund he had contributed to over many years. And so he packed his bag, moved to another country with his new partner, and began his retirement journey. Initially, he threw himself into projects like building a new home, tending a garden, and diving into the pages of countless books. But after 5 years, the novelty wore off.
Lyn:Retirement started to feel more like a prolonged layover than a destination. So he did something he'd always dreamed of. He discovered his purpose by enrolling in a 3 year fine arts degree. Surrounded by fresh faces, he found a renewed sense of purpose and passion, learning new skills like jewelry making and immersing himself in the world of art. And it just felt for him, it just felt invigorating.
Lyn:Fast forward 10 years, he's now the proud owner of an art studio, selling his paintings and indulging in the love for literature when he pleases. He's living a life reinspired. For me, I want to reimagine retirement. I want to explore pot the possibilities. I may consider, paid employment.
Lyn:I may launch a new business venture. I might may go back and do some learning. I might change my career. I might reach a train. I might offer my skills and mentor someone, might volunteer.
Lyn:I might take on some casual or contract work. I might dedicate my time to hobbies or even transform a passion into a lucrative venture. And I might even spend time supporting loved ones. I don't know what they'll be yet, but they are some possibilities. What I do know is I do not want to withdraw from the world of war work and retreat into some sort of life's waiting room where relevance fades and visibility diminishes.
Lyn:The landscape of work is evolving, shaped by technology and changing demographics, and I'm determined to keep pace with those shifts. After all, adaptability and resilience are my middle names. And throughout my life, I've had to learn new ways of working. Take the telephone for instance. I can still recall using those old you remember them?
Lyn:Those old push button pay phones with the a and b buttons. I even earned my brownie badge in the process. As kids, we'd make it a game to check every red phone box we passed, pressing the b button just in case the previous caller forgot to collect their pennies. It always amazed me how careless some people were with the with the change. And who could forget those days of queuing up outside the phone books, clutching 2 pennies, eagerly waiting for your turn to make a call?
Lyn:Fast forward to today, and I'm connected to the world 247 with my trusty smart phone, chatting daily with my grandees on messenger and using streaming services services with no more trips to the cinema. Until let's take computers. I remember when a school friend of mine left the 6th form to become a computer operator and trainee programmer. She'd write code in a language of ones and zeros, punch those cards containing the program, and then feed them into the computer. At the time, I thought her job was dreadfully dull.
Lyn:Yet I have used several computer operating systems from WordPerfect to Windows and touch screen technology. I can download apps from the Play Store, listen to Spotify and podcasts through my Bluetooth earbuds. And recently I helped a group of ladies connect to WhatsApp. I am up with the play. I've also witnessed mankind land on the moon and celebrated the triumphs of eradicating diseases like polio and smallpox, thanks to vaccinations.
Lyn:And I was one of the first children in New Zealand to get the new Salk polio vaccine and had no hesitation putting my, on the line for COVID 19 19 using the new mRNA technology. Through all these changes, I've adapted, embracing the new and bidding farewell to the old. And currently, I'm dabbling in the world of podcast creation. Connecting the dots, I am an adaptable and resilient learner, so maybe I need to learn about the opportunities to find the mother lode in this phase of my life. And if I do so, that will be the key to shake off this funk that I'm in.
Lyn:So let's take another short break. And when we return, I'll explore what happens if we don't shift our perspective in retirement. Be back soon. Looking for a long time, ready for someone. I'm now perched on the edge of my couch feeling invigorated because I realized that the future is not prescribed.
Lyn:It can be whatever I want it to be. As John f Kennedy once wrote, change is the law of life, and those who look only to the past and present are certain to miss the future. If I want a re inspired retirement, I realize now I cannot look to the present or the past for ideas and guidance. I'm going to have to create my own future. Sure, I'm going to have to learn some new things, like how to leverage my current skills to create opportunities.
Lyn:Sure, I'll make some mistakes and have a few more pity parties. At least I'll be giving it a go. Yep. I'm ready to seize the day. Create possibilities and opportunities, and the only thing holding me back is me.
Lyn:I need to get motivated and off this chat couch. Next week, we'll do just that. And here's today's takeaway. Baby boomers are the healthiest, most educated, and asset rich generation to embrace their reinspired years. We have the power to script our own destinies.
Lyn:We are adaptable and resourceful. There is no retirement handbook. We can be whatever we want to be and do whatever we want to do. For me, it's a time to grow and learn and to discover my purpose. What do the reinspired years look like for you?
Lyn:Let me leave you with this inspirational quote by JP Morgan. The first step towards getting somewhere is to decide you're not going to stay where you are. Until next week when we'll explore ways to reignite our passions and get motivated. Thanks for tuning in to Don't Retire Reinspire. Please share this podcast with your loved ones.
Lyn:Keep inspiring each other. Until next time, keep living your best reinspired life. This pod podcast was produced by Anthony Radley.