Retirement: Plan It and Enjoy
THE Class of 1929 has reached the age of "retirement" in the last few years, and to find out how the boys were taking it the '29ers were mailed a questionnaire. Professor Robert Sokol of the Sociology Department summarized the findings in a report, "How Golden the Years," which indicates that for some retirees the years aren't so golden. For many of the others the fear that there will be more dross than gold has led to a determination to keep the lifework going. This is regrettable because for many of us retirement is a condition of our employment and inevitable, and also because it can and should be one of the best parts of the whole trip. It is an opportunity to enjoy a life the particular quality of which is not possible to find at any other time. The report has some perceptive comments as to why so many seem to make the least of this opportunity, but it doesn't say much about what to do about it.
Lives in retirement have seldom been thoughtfully planned in advance. Instead, the main career is so concentrated upon right up to the last minute that retirement is stumbled into blindly by people who are looking backwards at where they've been. The report says that the '29ers "internalized the work ethic to such an extent that they had great difficulty in even perceiving retirement," much less plan it. In my own experience the reaction of prospective retirees to direct questions about their plans supports this point. One of the '29 boys says "not thinking about retirement - I believe one's life needs direction." This statement reveals what must be a common assumption, and maybe a too prevalent truth, that in retirement there is no direction. "Too often," says another, "it is the beginning of the disintegration of body and spirit." That's true, too; a surprising number of men become alcoholics after 60.
Contributing to the mishandling of retirement is the inappropriateness of the word itself. "Retire" connotes retreat or breaking off the action. One retires to bed at the close of the active day. From the viewpoint of the co-workers in the organization or field from which one is being retired, the word may describe what is taking place, but to the "retiree" it is just plain misleading. "Happily have always done what I wanted to, so have no incentive to retire - far from it," says one man. "But I have changed goals and activities several times since '29 . . . why retire, just keep analyzing your purposes and changing your way of life to achieve them, simple eh?" Amen! Right on! The retirement experience is just that: one for which we set appropriate goals and activities - probably changed goals and activities - but this man, and in fact anyone who understands English words, looks upon "retirement" as goal-less inactivity. The word should either be abolished or, better yet, no one should "retire."
Many men contemplating retirement voluntary or otherwise, often doubt that they can afford it. "This theme," Professor Sokol's report says, "continually appears throughout the questionnaires, especially among men who are still working."
Sometimes, through bad luck or mismanagement, an individual arrives at a point late in life without the financial base that will permit him to live comfortable when or if his present earned income stops Judging by the data on our classmates however, it appears that in many cases this is not the situation; in fact the average income of those who are afraid they don't have enough exceeds the income of the ones who have made the move. This is a strong indication to me that the income requirements for life in retirement are being overestimated. Life-styles by the time these ages are reached have become pretty rigidly grooved and perhaps unnecessary expensive. Since not much analysis is being applied to the situation that is in prospect, not much thought is being given to the importance of these expenses either. Many of them have little or no bearing on the enjoyment of life and could be eliminated. A lot of us are slaves to the direct demands of lawns, gardens, houses, carpets, furniture and cars and the related "luxuries" of maintenance, insurance, and taxes.
My wife and I spend six months of each year in a house that cost around $12,000. It has no road in and of course we have no cars. The water comes off the roof, there's no heat, no phone, no electricity, no hot water (the climate is warm). There's no insurance because it's incombustible, and the taxes are low. We don't have to live this deprived life. We choose to, we're happy and so are our frequent house guests. We spend the other half of the year in a modest condominium in Connecticut.
When judging the adequacy of a financial base, it should be remembered that as the years pass from the 60s through the 70s and on, many financial requirements (except the medical, which we hope is insured) will decrease so an estate or financial base that is inadequate at age 50 may be quite enough at 63 or 65. Also remember that you can't take it with you, and the actuaries can tell you that your life expectancy is not unlimited at age 65.
But even if these points are recognized, some of us have had demands placed on us through our lives that have made it impossible to build an adequate financial base and in these cases, if retirement is inevitable, it seems obvious that the life to be led must produce an income. That certainly calls for forethought and, if possible, a head start. If it's a small business - a travel agency, yacht brokerage, real estate agency, gift shop or whatever - this head start would probably be first manned by a relative or friend or, best of all, a wife, and should be moved into by the "retiree" as soon as it looks like a better bet than staying put.
This early move applies to anyone, whether he's "retiring" to an income-producing activity or not. Retire - certainly retire as soon as possible after the life that's been planned starts looking better than the one being led. The mandatory date, if there is one, is a deadline, not a starting gun. And while trying to decide when this day arrives, we shouldn't kid ourselves and our friends by pretending that our current job is invariably so all-powerful interesting, because it probably isn't. Most all careers become pretty repetitive, so when you think yours probably holds no new adventures and when things are all set and the grass is greener on the other side, there should be no hesitation even at the age of 45 or 50. There's much talk these days and not a little movement toward earlier retirement.
Some of the respondents to the questionnaire feared retirement because they might no longer feel "important." It's hard to deal sympathetically with this viewpoint. Most men over 65 whom I've observed who are hanging on in business have ceased to be important anyway, except that they're a big unwelcome obstacle to the progress of deserving younger people.
The retirement plan should be one that provides for continued participation in the real world; that provides an incentive to get up early and get about; that keeps one busy and keeps the blood moving and the mind working. The plan should not rely on finding a niche in a previous environment. It's easier to find examples of how not to do this, than to do it well.
Stay in the old community if the plan calls for a complete change of activity, or choose another community, balanced in age distribution and otherwise. Don't overestimate the importance of weather. It's just not that important. The weather in almost any part of our country from Maine to San Diego is good if we dress for it and enjoy it as it is, rather than wishing it was like we imagine it is somewhere else. Many second starts have to be made because a place provided too little else than sunny weather.
I read the other day in a sudy of longevity that married men and women live longer than singles, and I can believe it. Mutual interest and support during this period is vital. The plan for the life after retirement must be hers as well as his and in some situations she can be an essential partner, as in a shop or other small business. But all the while it should be remembered that there's a message in the old chestnut, "She married him for betteror for worse, but not for lunch."
I "retired" at 59. We had and have a thing we call a house on Bequia in the West Indies. We had lived there off and on longenough to be sure we could enjoy its life, I wanted to learn to sail because I love boatsand the sea. In 1967, I bought the vitalelements of a 34-foot sailboat and spenttwo years finishing it out in Bequia. Then I got another and completed that. They'reboth for sale now, and when one sells I'll sail the other and get a third. In the meantime we charter.
I'm interested in the islanders, too, an sent a fiberglass rowboat mold to the island. We imported a teacher so we could all learn the technique. Requiring neither tools nor power, it's an ideal process for an undeveloped area. Now we're planninga sash and door and general woodworking shop with the tools we've accumulated for the boatbuilding, and we're getting a new boat mold.
And then, as you see, I'm trying to write, and for someone who paid roommates to write themes for him as a freshman that is also a challenge. I'm never idle, that's certain, and I must be content else why am I setting myself up to tell others how to do it.
The period of life which follows a so-called "retirement" is a great opportunity; it's not a terminal point, it's a beginning. We aren't aware how much we have been forced to ignore because of the constant pressures we've been under all our lives. Pressures of jobs, and houses, of wives, children, parents, and a myriad of other demands and deadlines, have forced our attention on the immediate, not necessarily the important. But here, finally, we are at a point where we've been relieved of many of these demands and where we should have planned a way to relieve ourselves of most of the others. So now for the first time we have a chance to enjoy a beautiful day its own sake and to enjoy all that goes with it. The statement that "today is the first day of the rest of your life" is overworked only because it's so true.
Richard Burke retired seaward from his post as Chairman of the Board of the Roper Corporation in Kankakee, Illinois.
