Time on your hands

If you’re part of the working baby boomers (those born between 1946 and 1964), as I am, there is usually no such thing as “time on your hands.” It’s more like … “I could use a few more hours in the day.”

Does that change for boomers or others who have retired? It doesn’t look as though it’s going to in the future. A 2001 survey of more than 1,000 adults aged 55 and over yielded some interesting results.

That research noted that 95 percent of those planning to retire expect to do some work after retirement. For those aged 55 to 64, 81 percent want to continue to learn; 70 percent want to try new things; 65 percent plan to travel; and 63 percent say they want a new hobby or interest. Doing those sorts of things on an active basis likely will keep one still needing a few more hours in the day!

Continuing to learn is exciting. Universities are acutely aware of this and many are reaching out to retirees. In fact, some offer free tuition for retirees who audit classes. “Over 50” housing complexes are being located near colleges, and retirement communities such as Sun City, Ariz., offer extensive onsite programs to promote lifelong learning opportunities.

Whatever the venue or whatever the purpose, boomers don’t want to “wind down.” The researchers noted that most people over age 55 “… see retirement as either a continuation of what was before retirement (40 percent) or as a whole new life (38 percent).” The researchers divided those over age 55 into four groups, depending on their hopes and expectations, which I’ll briefly note:

Ageless Explorers — youthful, empowered, avoiding boredom, living live to the fullest (27 percent)

Comfortably Contents — want relaxation, traditional retirement, travel (19 percent)

Live for Todays — want to do things they didn’t have time for earlier, but are worried that they don’t have the financial resources (22 percent)

Sick and Tireds — pessimistic, in poor health, limited savings for retirement (32 percent)

What category are you going to be in? I’m not sure for myself, but I’m aiming at the first and want to avoid the last! What can we do to achieve that? It’s almost never too late for a good plan. The research we’ve been considering indicates that successful retirees are the ones who planned for retirement and have saved enough to achieve reasonable expectations. They also have the health for a full and active lifestyle.

Ken Dychtwald of Age Wave fame had a role in this research. I got to see and hear him firsthand last year at the National Association for Home Care annual conference in Denver. What a treat! He talked, of course, about the aging demographics and what that has and will mean as a society; but, he also talked about how his parents are being maintained at home, how he and his siblings arrange their schedules to make that possible, and how they, as a family, are making great memories. Let’s hope all generations of all families have enough “time on their hands” to experience that privilege.

Sources: Article by Humphrey Taylor of The Harris Poll (#23, May 15, 2002) citing research by Harris Interactive for AIG SunAmerica. Full copies of the research are available at www.re-visioningretirement.com.

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Past Post

Getting Ready for Retirement — Can You Hear Me Now? (Jan. 14, 2008)

Karen Talbott

President, Visiting Nurse Service and Affiliates

I am a native of Cadiz, Ohio (the infamous birthplace of Clark Gable), a resident of Fairlawn, Ohio, and am the president of Visiting Nurse Service and Affiliates, which is the largest comprehensive home health care system in Ohio. I am also a Fellow of Hospice and Home Care, one of only a few so designated in the United States by the National Association for Home Care. At Kent State University, I received both bachelors and masters degrees.

I’ve always been interested in the health care industry and especially as that relates to services for the senior population. That has led me to be involved in many community organizations such as the Senior Independent Living Coalition and Social Services Advisory Board in Summit County.

I’m privileged to have been recognized for my professional work over the years, including Crain’s Cleveland Business’ Woman of Note; Northern Ohio Live’s Top Woman Rainmaker Award; 2006 Extraordinary Woman Award from the Akron Beacon Journal; and more.

I’m a baby boomer. One of 78 million in fact. Lost in a crowd — no way! Baby boomers and those before us will leave and have left their mark on America for generations to come. Now that’s exciting.