Encore! Encore!

The die has been cast. I've publicly announced my intention to retire next year. I purposely made it a known fact with my employer because I'm the type of person who resists stepping outside of my comfort zone. And, I'm long overdue for a shake-up. By setting it as a declared goal, I am forcing myself to take deliberate steps to achieve it. It's just how the bullish mind works. For more information on that, click here, but I can save you the trouble. I'm methodical, deliberate, plodding... have you ever seen a cow path? Cows follow the same path they took the day before, and the day before that, even though it's not a direct route to their destination. 

However, while sticking with a path that has proven successful, albeit convoluted, succinctly describes a Taurus personality — or at the very least MY Taurus personality — I think it could easily apply to the baby boomer work force as a whole. We are a demographic that challenged the status quo by refusing to follow the straight and narrow line. We boldly chose a path that allowed us to see what was possible if we strayed a little here and there. Sometimes it worked out for the better, sometimes not. But, what's important is we imagined something different. And, we're not quite done with bringing about change. The generation that questioned everything is now reshaping attitudes about aging and, specifically, retirement. 

The attitude of "never growing old" has carried over for some of us, the idea that if we stop moving, we start dying. Medical science has allowed us to expect as much as 25 more years of life than what our parents had. I know I don't think of myself as the same 60+ years old that my parents were. Some of us are still trying to recover from loses sustained by our overconfidence in a fragile stock market. Technology has given the baby boomer generation choices that did not exist previously. All of these factors add up to a completely different concept of retirement. And, while we may not be willing to continue in the same rat race, myself included, we're still not quite ready to throw in the career towel. In the truest sense, a lot of us have reached that fork in the road and are electing to detour from the tried and tested route to take a path less traveled. We're up to the challenge of "what if" just one more time.

There's some really good news in this economically. For one thing, those classified as senior citizens have more wealth than that age group has ever had before. In fact, a recent AARP study showed the numbers of seniors living in poverty has declined by 6% in the past 20 years, while the proportion of older Americans enjoying a "high" income has increased from 18 to 31 percent. That's pretty significant, considering the strain on Social Security may not be as catastrophic as most doomsday preppers have been predicting. 

In fact, according to US News and World Report, some investment firms have proactively taken steps to identify markets that will benefit from the upcoming senior spending trend, which include medical care (of course), travel (certainly) and consumer products that include... don't laugh... Depends, fiber supplements, vitamins and anti-aging products. 

Also, by stepping out of current long-held positions, boomers not only open the door for employers to hire younger employees for a reduced salary, the boomers give themselves an opportunity to follow a passion, learn something new, share well-honed skills and knowledge, volunteer... make a difference, which has been and always will be our legacy. Already there are a number of books and websites dedicated to what is being termed as "Encore Careers."  

The boomers will be the first generation to truly blaze the trail for retirement in the 21st Century. World, are you ready for this?