retirement resources
Looking for recommendations to help my parents (mid-60s) plan for and adjust to retirement. They are both very identified with their jobs and struggle to imagine what retired life could look like that is as fulfilling as their long careers have been. They are likely to keep working until physical demands and/or industry changes force them to stop. I don't think they have a ton of money saved, which likely factors into their situation. Wondering if anyone has recommendations on books, podcasts, or even therapists or support groups that could help with the transition. I've always thought of retirement as an exciting and freeing time but both my parents are approaching it with a lot of resistance and hesitation. Thanks in advance for your kind suggestions.
Parent Replies
As a retiree who is very busy with immensely satisfying activities, I cannot imagine relying on my adult offspring - be they ever so well-meaning - to help me "adjust to retirement".
First of all, from what you have written, I don't see any compelling reason why your parents would need to retire, if they enjoy working.
Depending on the circumstances - assuming that they are not, for example, federal park rangers being forcibly dumped by Elon Musk - many employers would be willing to orchestrate a ramp-down in hours worked per week..
If your parents are "very identified with their jobs", perhaps they can continue to practice what they do in some way, if not as part-times, then as mentors or volunteers.
If they "don't have a ton of money saved", perhaps they can parlay their skills into starting a business, or consulting.
These are just some thoughts. If what they are doing works well for them, don't try to fix it.
Hello, that's great that you are trying to help ease your parents' concerns. I don't have specific book/podcast/therapist recommendations. But I did want to offer than some employers are willing to do "phased retirement" -- basically reducing hours when physical demands of work make it impractical to work full time. Since they both identify strongly with their jobs, this could be a way to keep working even as it gets harder physically. Depending on the type of jobs they have, it could also be possible to do consulting/advisory work in their fields, which can offer a lot of flexibility in work location/hours/etc., while still being involved and making some money. Once they stop working fully, there could be ways to remain active in their career fields if they do white collar type work, such as LinkedIn posts, blogs, professional organizations, volunteering, mentoring. I think there may be ways to end "the grind" of work but not lose that part of yourself and identity. Another thought is that they must have some other interests besides their careers - can they foster these while they are still vibrant? It can help if retirement is not just a loss of something, but a gain of something else. Lastly, while I don't have specific book recommendations, the public library could be a great source of books on the transition to retirement, and the librarian may have recommendations or be able to help you find these. Best of luck to you and your parents!
Very good of you to want to help them. The libraries run programs around retirement, and there are also two senior centers in Berkeley, and one in Albany. They may be realistic about their financial situation, and want to keep working for as long as possible so as not to burden you. They are likely to have retired friends and co-workers they could turn to for advice. My one piece of advice is to sign up for Medicare Part A as soon as they turn 65 -- it is free. When they actually retire, they will need Medicare Part B, and either a supplement or an advantage plan. (Most of the advice is to avoid the Advantage Plans, because the coverage is more limited.) My thought would be to actively listen if they bring this up, but to assume they will figure it out on their own. (The same way one does with young adult children.)