Six Secrets for a Successful Retirement

By Jan Cullinane

Adapted from "The New Retirement": The Ultimate Guide to the Rest of Your Life

Retirement (n): removal or withdrawal from service, office, or business; withdraw into privacy or seclusion.

Wrong! With apologies to Webster's Dictionary, this is no longer your father's (or Mother's) retirement. Today's retirees, and those approaching retirement, differ from their parents in a number of important ways. Baby Boomers (those born between 1946 and 1965) are living longer, perhaps spending 30 or more years in retirement.  As a group, they are healthier, more active physically and mentally, more affluent, more educated, and more likely to relocate after retiring. 42% of this 80 million in number plan on retiring in the South East sector of the US. Although seemingly an oxymoron, more Boomers plan to continue working in retirement and view retirement as a process, rather than an end, with perhaps several forays into and out of the workforce.

This truly is a "new" retirement.  In fact, many believe the word "retirement" itself needs to be retired - the word no longer represents the porch-rocking, shuffle-boarding playing, early-bird dining, and silver-haired stereotype of yore.  So, how can you plan for a successful, happy transition into the second half of your life? I'd like to offer six secrets...

1.      Have Strong Social Support

2.      Have Something to Wake Up for

3.      Have a High Level of Activity (Physical and Mental)

4.      Have a Willingness to Renegotiate Roles

5.      Have a Strong Financial Plan

6.      Have a Good Attitude