No need to panic

How many of us find ourselves in the crossroads of retirement and are in the verge of panic?

Some years ago I wrote about preparing for retirement. And I recall mentioning that if we want to go into business after retirement, the time to start it is now, while we are still able to make mistakes, while we still have active income at our disposal. But I know, based on the context of how our home economics is managed, where we thrive on loans rather than savings, or investments, most still have not built that nest egg.

Our savings in the bank may just be enough to tide us over a few months of health. For others, the idea of setting up an income generating 'hobby' which could develop into an enterprise has never really taken off because of busy work schedules. Well another bad news to add to our frenzy is that we are getting closer to retirement every day. Even if you are still 20 or 64. To top it all, no matter how good-intentioned our government is in the attempt to increase our social security benefits, it always remains an attempt since the contributions we make still cannot suffice.

So what needs to be done? ACT! Accept the limits you have and explore what is within your boundaries that you can develop into something worth doing when you retire. What skills do you have that you can share. Remember when one retires the equation may not necessarily all for the mullah. It can also simply mean something to wake up for. Imagine yourself after 65 - say with 45 years of working experience. Then you wake up without a job. You're retired! So you laze around the house, sleep til you want, wake up, watch tv, become yayo, or yaya for your grandchildren whenever there is no help. Or maybe all the kids are out of the nest so you stare at your spouse, bicker a bit, then try to tinker with your car, your kitchen or what have you in order to keep you occupied. The routine goes on 'til one day you begin to feed on your hypochondriac tendencies and become psychosomatic until reality sets in and you do become sick.

So while employed, earn an additional special skill you can perform when the season calls for you to leave. Your structured workplace. A friend of mine who hated doing files and letters chose to conquer this weakness and now maintains files for a company she works in on an "on call" status. She also composes letters and does a bit of ghost writing online. She is paid substantially for both jobs but what spurs her is the thought of having something to do.

Compile your contacts. Make a list of people you know and what you think they might need in the future that you could provide. Think from basic to outlandish. A retiree who used to be on an 8:00 to 5:00 desk job for thirty years found himself doing Grab after retirement. For him it was like a treat. He could explore places even in his locality that he never passed through before. He could also chance upon some old friends who get to grab his car when he is in the vicinity and even if his children are all professionals he still prefers to drive feeling exhilarated when he is able to freely cruise around town. He has kept a list of his friends who he would offer his services too and that of the small cookie business his wife began after she herself retired.

Train. Life is about learning. Continue to try new things and train. I am reminded of the movie with Robert De Niro as a senior citizen "intern". Fixed in his ways of doing things he opened his mind to learning again and he was able to mix new technologies with his old foolproof skills.

So there is really no reason to panic. Just be conscious of your post retirement plans so you can re-tire and have a life!