“The tragic thing is people don’t think it through,” said retirement expert, Heather Bennett, talking about how people plan for their retirement (Career Buzz, Aug. 28, 2013). Financial planners often ask what people want to do when they retire, and then the numbers are crunched. “They find themselves retired and executing a plan that was ephemeral,” Heather said. “They need a dream.”
In the absence of a dream, people get bored. Heather cited RBC’s retirement myths and realities poll that found 39% of retirees went back to work because they were bored. Why don’t people plan for retirement? According to research Heather shared, it’s because they’ve always been told what to do — in their careers, in education — so planning for themselves is unfamiliar territory. Plus, there’s virtually no conversation between husbands and wives. “One wanted to open a bed and breakfast and the other wanted to stay in the city.”
How does this apply to you? If retirement is in sight for you, or for a parent or loved one, answer the question, What is the dream? “Think about it in five year chunks,” recommended Heather. And get help. Financial planners are great at crunching the numbers once you have a plan, but Heather suggested it makes more sense to speak to a career professional or retirement coach first, to help nurture that plan, and not just your own plan but your spouse or partner’s too. “More care should go into planning what is essential a third of our lives.”
Listen to the whole interview here.
September 25, 2013
Student of Life. Matthew L. Taylor is author of Student of Life/My Lessons are Yours. As a child growing up in Scarborough, Ontario, Matthew was already writing songs and poems. Known for his gift of gab, friends and family said he’d be a lawyer. But Matthew’s adolescence included bad decisions and being kicked out of high school. The pressures of being a young father forced Matthew to do some soul searching in order to fulfill his potential. He went to college as a mature student and now has a career leading entrepreneurial ventures, writing, and speaking. Join us and learn some lessons!
Career in Arts and Social Service. As Managing Director of West-Side Arts Hub, Andrea Boucaud promotes the arts to community members, local organizations and the broader arts community. She has worked in arts and social service for 15 years in roles including Child and Youth Worker, Community Support Worker, Youth Employment Site Manager, Studio Manager, Business Owner and Creative Director. In 2011 Andrea won the Outreach Worker of the Year Award. Dial in Career Buzz to hear Andrea’s inspiring story.