Research shows, along with experience, that with aging usually comes reduced revenue, both from salary as an employee and compensation from operating our own business. Initally, I was determined to prove that wrong, at least for me.
That mission to continue to gross what I had before I was in my late 50s has only caused me needless discontent. The reality is that my executive communications boutique is thriving. I managed to get out of the glut out there by developing new expertise in financial writing. I love it. My bylined work has been widely published. My three syndicated blogs (the other two are here and here) also are popular. That's even though blogging is a mature medium. I have put together a new network, primarly of Millennials and Generation Y. They are now the ones in charge of assigning the kind of work I am good out.
Yet. Since age 58, the gross has been about half what it had been previously. The net is fine. Like many Baby Boomers I have made it my business to reduce fixed monthly expenses.
I sold the house in the excellent school district, which meant constantly rising property taxes. Eventually I relocated from the pricey Northeast Corridor to the Southwest. Now keeping a roof over my head only consumes a fourth of my income, not more than a third, heading toward a half. Car insurance is half what it had been. Gasoline is about 60-cents less a gallon. Attire is more casual. No longer am I investing in brandname Professional Woman outfits to meet with clients.
So, I actually have more discretionary income. My credit rating is splendid since I paid off debt. I can afford to eat healthy. So can my animal companion Lee K.
What some of us Baby Boomers might have to do is reconfigure how we measure our success. Otherwise we are not going to enjoy the success as we are currently experiencing it.