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The Aging Imperative

The dictionary defines the word “imperative” as: “absolutely necessary or required; unavoidable.”

Thus, the most important question you can ask yourself in preparing for retirement is...

"What must I absolutely know and do in order to be healthy, happy, and find meaning and purpose, both in preparation for retirement and in post-retirement?"

The aging imperative is a term used to describe the urgent need to respond to the challenges posed as we age. It refers to the personal, financial, social, physical, health, economic, and cultural implications as we age, and the need to meet the demands of and make the appropriate responses to these implications.
Potential risks associated with the aging imperative include increased healthcare costs, reduced economic growth, increased competition for resources, and a greater burden on others for care and support. Additionally, there is a risk that we will become increasingly dependent and unable to contribute to family, society, and the economy.
A second consideration is the issue of work. Employers have an important role to play in addressing the aging imperative. They should create policies that help to ensure that older workers are provided with safe and secure working conditions, and that they are given the opportunity to continue to use their skills and experience in the workplace. Employers should also promote flexible working arrangements and provide training and development opportunities to help older workers remain competitive and productive.
To ensure that we address the aging imperative effectively, we need to adopt a holistic approach. This includes taking personal responsibility well in advance by seeking incentives to save and invest for retirement, preserving our health and social engagement, insuring that employers are influenced to implement policies that support increased labor force participation, health and welfare policies, pension opportunities, and training and development opportunities . Additionally, it’s important to ensure that elderly people receive the social and economic support they need to continue to contribute to society.

WE ALL AGE!

Ben Franklin once said, “There are only two certainties in life: death and taxes!”

But I think there are three: death, taxes, and aging. A well-known gerontologist describes what he has called the Law of 1 Day, which suggests that “…each and every day, in each and every way, we are getting older.”

Preparation for aging is the imperative. The poet, Ashley Brilliant, once wrote: “Never look for inevitability…she always knows where to find you.” Getting old is no exception.

It’s easy to grow old. Aging is simply the passing of time – the chronological change from day to day, year to year. For many people, just doing nothing is the easiest way to grow old. For others, aging is very difficult. And, for a few, it’s an opportunity.

It’s true. Some of us are reminded of that every morning when we look in the mirror.

We know that certain beliefs and mindsets can limit your experience of aging. But, if you’re willing to focus on improvement with intention, you can discover ways to shape a positive trajectory of your life into retirement and beyond.

Our focus is on the positive aspects of aging. We do this by sharing resources, experiences, ideas, and answers to questions about what life is like as we age.

HOW LONG AM I GOING TO LIVE?

It wasn’t until I was 67, that I began to think much more seriously about retirement. Because I was getting older. And a very important question came to my mind: How long do I think I'll live?

Now, I know that’s a question that we can’t always answer with a lot of certainty. But I believe it’s one of the most important questions we can ask. Why? Because it has the greatest implications for how we’re going to live in the last three phases of our life: pre-retirement, retirement, and post-retirement!

Retirement or financial planners will always want to have some idea about the answer to that question. The problem is most won’t ask! And yet, it’s absolutely crucial.

Why is it Important to Ask This Question?

First, because financial actuaries will make estimates about how long you’re going to live in order to make recommendations on savings and distribution of income over the course of your retirement.

But it’s the second reason that I think is the most important. And that has to do with life expectancy. Why should you be concerned about this? Because you will probably live longer than you think!!! Most people seriously underestimate how long they think they'll live! Aging itself can be a wonderful journey of self-discovery - because we’re living in what’s now being called the "Longevity Era." A time where life expectancy of 20-25 extra years beyond retirement is possible.

So, an important question arises that we must ask ourselves is, “Given the certainty, the inevitability that I’m going to get older, and will probably live longer than I expect, how do I want to live in the latter part of my life?” And the most important follow-up question is, “How should I PREPARE for this greater longevity?”

Consider this: Presently, over 10,000 Americans turn 65 every day! And with 80 million baby-boomers and 64 million genXers approaching retirement there are many challenges awaiting them. For example, the number of 50+ in the labor force is projected to increase from 35.7 million in 2016 to 42.1 million in 2026. If you are among either of these groups, there is much you can do to help face these challenges and ease your transition to retirement and a fulfilling elderhood.

IF YOU WANT ANY REASONABLE CHANCE OF LIVING A HEALTHY,

HAPPY, FULFILLING LIFE AS YOU AGE…YOU MUST PREPARE!

THIS IS WHAT I CALL THE AGING IMPERATIVE!

If you are in that critical age between 40 and 65+, you need to think about how you can FULLY PREPARE for making the transition to retirement. You can begin by thinking about how to develop...

The proper MINDSET in order to prepare for aging, elderhood, and retirement
A greater sense of SELF-AWARENESS.
FORESIGHT about what you want your future to be like.
And ability to ANTICIPATE AND BUILD A KNOWLEDGE OF THE CHANGES YOU’RE GOING TO FACE as you retire and age.
An ability to PREPARE AND PLAN APPROPRIATE ACTIONS FOR MAKING THE TRANSITION.
And the discipline to EXECUTE THOSE ACTIONS.

You Are Privileged To Have A Longevity “Bonus”!

Between 1900 and 2000, the average life span increased by nearly 30 years. For the first time in history, people now being born can easily expect to live 7, 8, or 9 decades. Adults 60 and older are now the fastest growing segment of our population.

In fact, between 1990 and 2010, the percentage of people 65 and older increased from 12.1% to 16.1% of the population. Of all the people 65 and older, who ever lived, in the history of the world, 2/3 of them are alive today!

This “age wave” brought about by the emergence of the “baby boom” generation and the “genX” generation has created what has come to be called “The Longevity Revolution.”

These two generations have brought about revolutionary changes in everything from social society to space travel to information technology to life expectancy. The “baby boomers” are living longer than any generation in the history of mankind – up to 25-30 years longer than their ancestors. But this brings its own problems, too!

When I was born in 1941, the life expectancy of a man was 64 and that of a woman was 68. Today, it’s 78.4 for a man and 82.1 for a woman. Further, if you successfully reach the age of 65, you can reasonably expect to live to be 84. And if you reach 75, there’s a chance that you will live to be 90-95.

WAIT!!! Can you see a problem here?

If our usual retirement age is 65

(and the average retirement age today is 63), and our life expectancy is 84, what do we do and how do we prepare for this “longevity bonus”?

Looking forward to retirement is not without its fears. Oftentimes it’s just the fear of the unknown. We don’t always know what will happen, or what the future holds.

When I was 67, I asked myself the question: How long will I live? And MY ANSWER SCARED ME. After all, not a single person in my immediate family lived past 70!

My grandparents all died before they were 70. My mother died at 70, so did my father. My oldest brother died at 53 – from the effects of “Agent Orange.” My next older brother died at 49 of a massive heart attack.

My only saving grace was that two of my aunts lived well into their 90s. One died at 92 and the other at 98. I was hoping I’d be like them.

So, planning for me was difficult, to say the least.

I just recently turned 82, so every day is a gift….and a record age for my immediate family.

Given these extra years, we must ask questions such as “How long will I live?”

Just as important is… “How will I live?” and “What will I do with my life?” These are important questions.

Many people facing retirement fear that without a job to go to, they fear a loss of structure, a loss of attachment, a loss of social engagement. They often ask, “Will I even matter?”

For many people it’s a very difficult transition. I describe it as crossing a chasm.

In the last several years we’ve seen huge increases in social problems among people age 50+. This includes increases in divorce, alcoholism, drug addiction, and suicides.

These represent chasms we must cross or dangers we must face as we age and as we ease towards retirement. So, the question of “How will I live, given these extra years?” is no trivial matter.

Researchers found that the days after the milestone birthday of 50 to be the point when the average adult starts to dread aging and fading looks. Health issues top the list of concerns along with failing minds and loss of independence.

There are many others out there who have deep fears. Without a job to go to, they fear a loss of purpose, a loss of structure, a loss of attachment, or a loss of standing in the community.

There are justifiable fears about a loss of physical and mental health, a loss of social engagement and isolation, or becoming invisible. Many fear loneliness, frailty, poverty, abuse, and being left alone. Some often ask, “Will I be a burden; will I even matter?

We underestimate the effects that the loss of these valuables has on us. Loss of identity; often confusing who we are with what we do; the routine of a daily schedule, fading relationships, and loss of friendships. All extremely hard to come by and replace.

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