Thinking of Moving? Not Just for Retirement

As I was rambling around the internet this morning, I came upon a tool created by US News & World Report. It helps locate potential retirement cities. Even if retirement is the farthest thing from your mind, checking out a few locations here . It’s a great way to see what’s important to you in terms of location. And a great way to see if your needs and wants have shifted over time.

Show Me the Money

Apparently, there are stages in the pension-receipt process. These may be Delight, Depression, Sticker Shock, Fear, and Acceptance. If you’ve been a smart planner, you may skip from stage 1 to stage 5 with perhaps a side trip to Direct Deposit. At Acceptance, you will possibly smile and say thanks. You have maxed out your 501K and have back-up investments.

If you’re like many of us, though, you haven’t been thinking too hard about all of this, you may go through all of the stages. It’s delightful to realize that someone is actually going to send you a check for the rest of your life. Enjoy it! Party a little. Contemplate never working again, even though you know that isn’t going to happen.  For some, depression sets in all too soon (see 62- Who Knew?) as they feel somehow extraneous.

Sticker Shock – I can’t think of another term for the sight of that first check. For some of us, it’s a lot smaller than we expected. First, remember that interim checks (the first several months for most people) are only about two-thirds of the real check. Second, breathe.

Fear comes close on the heels of Sticker Shock if the number on that check is significantly smaller than expected. Don’t get lost in the fear. Immediately make a list of all your other assets and income sources. Then, if you haven’t ever done this, seek out a reputable financial adviser immediately. A good adviser can tell you how to make up for lost time and, realistically, exactly how much making up you can expect to do. Remember that it’s increasingly likely that you’ll work until you’re 70 – maximum Social Security age. Schedule an investment tune-up and bite the bullet.

Acceptance comes differently for the non-planning crew. At this stage, it’s acceptance of responsibility. Acceptance of the ability to create a different future. Acceptance that all is not lost.

I’m not a financial planner or financial expert, but I can offer one piece of advise. Learn your financial position now. Go to AARP for forms and resources – NOW!

Time is (Not) On My Side

As I sit watching television instead of juggling the multiple projects that are due by the end of September, I am reminded that sometimes a coach needs to take her own advice, so I’m going to be making time pie charts. This is a tool that I use often with people who don’t seem to know where their time is going. And right now, I’m one of those people.

There are two ways to approach this project. One is by role and the other is by task and/or activity. Sometimes, it’s helpful to do both. In this case, as I want to look both at the roles I am playing and the ways I am using my time, I’ll be doing both.

The process is really simple. First, make a list – or two lists. To chart roles, make a list of every role you play. Roles involve interaction of some sort. Roles are what we do, not who we are, so the list might include employee, writer, neighbor, mother, but not woman, New Yorker, Boomer. Review the list to check for overlap or duplication so that you can eliminate some items. Next, prioritize the roles. The one most important to you will be number one.

To chart tasks and/or activities, make a second list of all the tasks you have in progress right now. Add all the other activities that take up your time if you want to go beyond seeing what percentage of your time tasks take up to also identifying and eliminating time wasters. Prioritize the items on the task list. Do not prioritize the other activities.

Now, draw a pair – or two pairs – of circles. Label one circle actual and the other ideal. In the first circle – actual roles – create a pie chart showing how much of your time each role takes up in relation to the other roles. The result will look like a pie cut into a number of slices of different sizes. That is, if work takes up 50% of your time, it will be half the pie. Assign a percentage to each role or slice. Everything must fit into the pie and the numbers must add up to 100%.  The second chart represents how you would like to be spending your time. Using the same roles, create a second pie chart. Reallocate percentages as you see fit. Finally, compare the two charts and make some notes about what – if anything – it will take to implement the distribution on the second chart. A rare few have identical charts. If this is you, please grin broadly and pat yourself on the back.

Use the same procedure to create pie charts for your tasks and activities. Label one circle actual and the other ideal. The results will help you see whether or not you are being realistic about the number of tasks you can handle. Maybe there’s room for more. Maybe it’s time to delegate or eliminate. Maybe it’s possible to reposition some of the routine activities, to let them slide, or to pay someone else to do them. For example, it might be time to pay someone else to keep your books or clean your house. Maybe there are activities that no longer interest you that you might want to drop. Maybe some that are time wasters can be positioned as rewards. I have known several people who make good use of their TiVo or VCR and save television as a reward for reaching a task milestone.

You may not be crazy about the results – even – or especially – when they aren’t a surprise, but charting your time is always worth the effort. I’m off to do my charts right now.

Geographic Cures?

After spending the holiday weekend with friends in Kingston, New York, I couldn’t help but notice how they have changed since moving out of Brooklyn. There’s supposed to be no such thing as a geographic cure – we take ourselves with us wherever we go. And yet, geography does seem to have made a huge difference.

One of my friends is a woman who led a fairly limited life in Brooklyn. She went to work, she came home, she walked her dog, she listened to a little music or watched a little TV, she went to bed. Since leaving Brooklyn, she’s bought a condo, spent a lot of time decorating it, has started to go to local theater, fairs, and the occasional movie. After decades of no vacations, she’s just returned from a cruise. Yes, she still walks her dog, listens to music, watches a little TV. But she’s doing a lot of new things too.

The other friend has not changed his interests as much as his demeanor. He used to be a little angry with the world, argumentative, and given to complaining. All that is gone. He’s a joy to be around – open and accommodating.

So, I wonder how geography has played into these changes. Is it because they have more time? Is it fewer pressures? People move a little slower in Kingston. They remember you. There are trees and birds and lots of open space. Perhaps it’s just a matter of finding the right surroundings. These two people simply found the right fit for them.