Retire and Thrive : Remarkable People Share Their Creative, Productive and Profitable Retirement Strategies

Case studies provide tips for taking an active role in retirement planning, outlining the options available and the most effective ways to create satisfying retirement lifestyles

From the Preface: When I receive The Scene, Colgate University's alumni newspaper, I first turn to the class note section. I've always enjoyed reading about the achievements of classmates. That's how it went for nearly 35 years. Then something happened. These same dynamic classmates switched the tone of their correspondence-from career to retirement. One sold his business, packed up and moved to Florida. Another opted for early retirement and reported that he was golfing every day. Still others chatted about activities I couldn't imagine being part of my lifestyle. What they were doing seemed to me to be about as enjoyable as a month of Sundays. How, I wondered, do they fill the 2,000 to 2,500 hours or more a year that they once devoted to their careers? Why would anyone even want to retire? I had never considered retirement, not even when I exited the public relations field to become a writer. With those musings, the die was cast. The result is Retire & Thrive, a source of ideas, reassurance and inspiration for those who want to catch a second wind in "retirement," however and whenever it comes. The first edition of this book was published in 1995. I initially intended to focus on people 55 to 65 years old, including those who became victims of corporate downsizing and its close kin, early retirement, as well as those who elected to work indefinitely and not retire. I soon found that I was limiting my editorial horizons by excluding those ages 50 to 54, many of whom were losing their jobs or prematurely retiring. As a result, I packaged everyone from ages 50 to 65 into what I called the 50-plus set. By using age 50 as the starting point, I deliberately set a trap for the older members of the baby-boomer generation, who would begin to turn 50 in 1996. They, too, should be asking, "What's next?" A generation ago, an out-of-work 52-year-old executive would most likely have found an equivalent or even better new job. Early retirement in the face of lay-offs and downsizing weren't common occurrences. The message is now loud and clear for those severed from the workplace: To survive, they need to adopt different career and lifestyle objectives. In looking for another job, chances are they won't be able to duplicate the one they just lost. Furthermore, within the employment marketplace there is little discernible difference between a 52-year-old and a person ten years older. For those who are resourceful, inventive and willing to do things differently, the future is bright. The others have less reason to be cheery. This second edition reflects the mood of the late 1990s. It recognizes: -- the extent to which computers and data communications have really come of age; -- that baby boomers, who vowed never to "trust anyone over 30," have begun to turn 50 and are actively considering future workplace and lifestyle alternatives; -- that, as Americans live longer, the 50-year-old as well as the 65-year-old are helpmates to one or both living parents, and may be paying college tuition and wedding expenses for their children, too. The first chapter sets the stage by exploring attitudes about retirement and describing a number of 50-plus-set trends. Chapter 2 discusses how to plan for these life events. The next three chapters concentrate on what I find are the three most vibrant non-work activities: becoming a student, working as a volunteer and pursuing a hobby. The concluding chapters focus on the dynamics in the workplace: staying on, though very likely with a change of pace or focus; changing careers or becoming self-employed; or escaping from retirement and returning to the workplace. The editorial guideline for Retire & Thrive is clear-cut. The introductory part of each chapter highlights societal and demographic information, and relevant how-to information; the balance of the chapter is given to human-interest profiles. The anecdotal profiles support the theme of each chapter. They are organized so you learn what 50-plus set people are presently doing and, just as important, the different routes they took to reach their present lifestyle. Don't for a moment think that this book profiles only the affluent. Several are wealthy. But nearly all the others, even those with secure pensions and sound investments, are living on smaller incomes than when they were in the workforce. While financial issues are right up there in your mind as retirement looms, dealing with them isn't this book's primary thrust. Finding ways to make the most of your time and energy is the goal. I had initially hoped to profile an equal number of men and women. Unfortunately, the potential pool of women executives and professionals in the 50-plus set is still comparatively small. Few newsmakers are profiled. Why interview the rich and famous when we can profile people just like you who have produced real-life solutions in their 50-plus set years? The people profiled in this book are discovering and implementing different lifestyle plans. Some of the solutions might lead you to think that 50-plus-set members are dabblers. Hardly the case. A retiree might work as a part-time professional three days a week, serve as a volunteer two mornings and then spend an equal amount of time with a hobby. More often than not, these people have selected a lifestyle that includes a combination of interests described so wonderfully by futurist Charles Handy (profiled on Chapter 2) in The Age of Unreason as "portfolio careers." The people in Retire & Thrive are, in a special sense, adventurers. They reinvented themselves. Some developed new skills, but most took existing talents and reshaped them to meet new objectives. The people you are about to meet, regardless of their interests, are all active and energetic. None are "couch potatoes." They thrive on variables in an environment where it is no longer business as usual. If nothing more, the 50-plus set adheres to the sentiments that Frank Sinatra lyrically depicted in "My Way": "And more, much more than this, I did it my way."