Baby Boomers Turning To Non-financial Retirement Planning

(NAPSI)-Mention "retirement" to an audience of baby boomers and you can be assured of a diverse range of reactions. While some view retirement as filled with relaxation, travel and golf, others are eager to pursue a second career, explore a special talent or devote themselves to community service.

Regardless of emotional or practical reactions to life's transitions, a common denominator is emerging-a growing number of baby boomers recognize that a fulfilling life transition requires comprehensive planning beyond the financial realm.

"The concept of retirement is changing as 77 million baby boomers reach retirement age," said Ron Manheimer, Ph.D., executive director of the North Carolina Center for Creative Retirement, NCCCR, a lifelong learning and research program of the University of North Carolina at Asheville.

"The most important change taking place is the realization that fulfilling years in mid- and later life don't just happen, but require introspection and careful planning to address issues that may arise," he said.

According to an AARP survey, approximately 80 percent of the baby boom generation intends to continue working after retirement. Many others will explore talents and passions, including volunteer service.

To achieve their goals for post-career lives, however, retirees will face numerous lifestyle issues, including replacing the social networking that comes from the workplace. Many have family issues to manage, including aging parents and the question of whether to relocate. Many couples will also have to learn how to relate to each other once neither member is working full-time anymore.

"Money is only one piece of the retirement puzzle," Manheimer said. "Another piece is meaning, which speaks to a person's enjoyment of life and fulfillment after a career."

The growing need for comprehensive "lifestyle" planning for nonfinancial issues related to retirement has given rise to programs such as NCCCR. The Center offers Paths to Creative Retirement and Creative Retirement Exploration Weekend, which address issues related to life transitions. These programs attract participants from across the country seeking guidance with life planning.

"Studies of midlife adults have shown that those who began planning earlier and more intensely report much greater life enjoyment," Manheimer said. "Baby boomers are realizing that with good planning, the second half of life can be the most fulfilling of all."

For more information about planning for life beyond retirement, visit www.pathstocreativeretirement.com.

 

Tips For Passing Along Family Values
By Glenda R. Logan-Glover

According to a groundbreaking study by the Allianz American Legacies Study, a true legacy is a combination of both emotional and financial components. Seventy-seven percent of Baby Boomers say it is important to receive values and life lessons from their parents and as a group prefer to preserve their parent's memories rather than receive a financial inheritance.

Legacy building is becoming increasingly popular as people show more interest in transferring values and non-financial assets from generation to generation. Preserving life's stories is especially important in light of recent events that point out the reality of life's fragility.

According to the study, although both Baby Boomers and seniors say they are comfortable in discussing legacy and inheritance, they do not typically discuss preserving all aspects of their legacy including values and life lessons. In light of that legacy gap, more efforts are being made in making sure that important personal information is saved for the future. Ethical Wills are becoming increasingly popular as a way to write down hopes, dreams and wishes for the next generation.

Intergenerational participants in the Allianz Study shared freely when the topic moved beyond the financial aspect of death to the best way to leave a legacy. In order to make sure that information is captured, many Baby Boomers may have to personally capture their parent's story. Follow these tips to insure that you can extract and preserve information that will document your parent's story and family heritage:

1.      Preserve your memories forward in time - be aware of changing digital formats. To minimize the risks of losing your memories, perform frequent backups on an external hard drive and double backups on DVD-RAM storage disks.  Use acid free products archival products that will stand the test of time.

2.    Ask the right questions - move beyond fact based reporting to evoking sensory narrative. Ask open ended questions such as what did you feel like after accomplishing that huge goal in your life? What was your favorite song from that time period? What are/were your dreams for the future?

3.    Tell the story - try to keep the original voice of the author and do as little modifications to the narrative as possible

4.    Use technology to make it easier - use an Internet site that in addition to letting you upload photos, will let you preserve your memories in different ways including long-term archiving and acid free hard copies.

By taking the necessary steps to preserve your parent's legacy you will benefit future generations for years to come.

About the Author
Glenda Logan-Glover, President of Preserving Sentiments, LLC writes and speaks extensively on the importance of preserving your memories and legacy in order to benefit future generations. [http://www.preservingsentiments.com]   Preserving Sentiments is designed to capture memories and send them forward in time so that loving ties can be strengthened.

Article Source: EzineArticles.com