Over-50

Social Security - Unintended Consequence

Often shade gets thrown on Social Security. 

It's positioned and packaged as a small bag of peanuts given to those who need more substantial fare.

But the reality is that for many who had long successful careers the amount of monthly paycheck can hose down the fire in the belly for work. That can be an unintended consequence for professionals who start receiving that guaranteed income and who also shift to frugality. Yes, it's plenty to live on. 

Come to think of it, the syndrome resembles unemployment compensation. Research and experience indicate that those receiving it often don't throw themselves into a focused job search until the payments were about to run out. 

Here's a telling anecdote. One woman I coached opted to take Social Security early. In her early 60s she was finding it difficult to land well-paying work. After the checks began rolling in, she just sort of withdrew. She had been her work. When she realized she could land decent-paying contract assignments if she changed how she marketed herself, she snapped awake. She did get an excellent assignment, then cancelled the Social Security. She might put collecting it until she is 70. 

Perhaps Social Security should be treated as funds to sock away for when it's downright impossible to work. Then professionals can continue being happily engrossed in work. 

Coaching, lecturing, and writing/ghostwriting thought leadership content on human resources and careers.

For individual coaching – sliding scale fees. Complimentary initial consultation. The special area of expertise is the displaced over-50 professional. Please contact Jane Genova janegenova374@gmail.com.

 

Harder to Make Ends Meet on Social Security

You're not imagining it.

Despite the boost of 1.6% in your Social Security check in 2020, you are having it harder to make it through the month. That's primarily because, as MarketWatch reports, that increase is lower than the current 2.3% inflation rate.

Inflation is being driven by the uptick in the price of keeping a roof over your head, gasoline, and healthcare. In the latter, the scary thing is the cost of medications. 

The good news is that there are solutions to bridge the gap between Social Security and what you really need to survive financially as you age.

Here are eight tips:

•  Work. Even a part-time job at a grocery store, fast food outlet, or call center can add $1,000 a month. Some jobs, such as call centers or grading standardized tests, can be done right from home. You can also start a very small business. There is no excuse for not continuing to earn income. Here, free to click open, is my book on how to land, hold, and move on to better work, at any age Download Outwitting ageism.
•  If you are keeping the family home, you have the option of co-living, that is, taking in boarders who provide skills and services you need. You get rent, plus someone to do the landscaping. Screen carefully.
•  Relocate. You probably can't afford to live where you built your career. To research different locations, just key in on a search engine phrases such as "Toledo, Ohio - Apartments for rent." That will give you a ballpark idea of the cost of living there. Also there are international locations. For those, key in "Ecuador - Apartments for rent." A starter guide for considering exiting the U.S. is International Living. 
•  Ask if businesses provide senior discounts. Usually you have to ask. That could be 10%, for instance, on a hair cut.
•  Consider if you need to own a car. Or can you get by on renting one now and then and Ubering it? According to NerdWallet, maintaining your own auto runs more than $8K a year, if you drive about 15,000.
•  Use the public library. That means you will never have to pony up the money for books, music, movies, and often even workshops in everything from digital to job search.
•  Senior citizen centers are worth checking out. They aren't what you imagine them to be. You could save a bundle on meals, training, entertainment, and wellness. Also you can enlarge your social network. 
•  Stop eating out, even fast food. Invite friends to a conversation over a cup of coffee. 

Radical frugality or minimalism is a growing movement. And not only among those eligible for Social Security.

Coaching, lecturing, and writing/ghostwriting thought leadership content on human resources and careers.

For individual coaching – sliding scale fees. Complimentary initial consultation. The special area of expertise is the displaced over-50 professional. Please contact Jane Genova janegenova374@gmail.com.

End of Life Issues - A Matter of Perspective

The mainstream euphemism for "death" is "end of life issues."

Once totally taboo in hard-charging optimistic Americana, death has come out of the closet.

On conservative network television, there are commercials about end of life responsibilities such as not burdening loved ones with expenses. So, buy this kind of insurance policy.

The Wall Street Journal has an article about how those in their 80s view life now that the ending is near.

And, my classmates from pre-gentrification Jersey City, New Jersey Snyder High School openly talk about the reality that one day they will no longer be here on planet earth. 

Of course, just like most phenomena in life, that each one of us is going to die generates myriad perspectives. 

When I was growing up on the mean streets of Jersey City, some folks who had it even tougher than the usual amount in immigrant neighborhoods were matter of fact. When they died, that was that. Over. In addition, they didn't anticipate any blissful afterlife. There was not going to be any reward for the pain suffered playing the game after being dealt a bad hand.

In my doctoral studies at the University of Michigan, the history of ideas provided diverse points of view of The Next after departing this dimension. 

At Harvard Law School, the subject was compensation for wrongful deaths.

And, when I bunked in senior housing complex Bella Vista in New Haven, Connecticut, the talk tended to be pragmatic. Such and such an apartment would become available for your good friend once the current renter, well, you know. 

Currently, in my circle of fellow baby boomers (yes, there are silos among the generations), the tone of conversations about our own deaths is shock. We who had been so important for experts, ranging from sociologists to journalists, to analyze and struggle to understand won't even exist any more. That's unthinkable.

Meanwhile, we are already living our lives differently, anticipating they will soon enough go kaput.

Among the modifications:

•  Not adopting any more companion animals. From what we have observed, family and friends don't take good care of the four-leggers who become orphans. Current angst is: Not dying before our current best friends do.
•  Having an up-to-date will for the state in which we reside.. That's a nuisance since some of us have made mistakes in relocating. We saw Arizona as Paradise. We did wills there. Now they have to be redo them since we are back east, at least as far east as we can afford, e.g. midwest. 
•  Finally pulling out all stops on a bucket list. Sure, we could make it to age 110 and need to fund those years but why the hell keep saving? The tough nut to crack is overriding the ranting of financial planners about how much we must have so that we won't wind up homeless. 
•  Questioning every platitude. A fellow boomer and I concluded that, no, relationships aren't everything. If we have one human being to confide in and depend on we are indeed fortunate. Also, that's plenty. People can be a pain in butt. No, we don't welcome more photos of your grandkids on Facebook.
•  Speaking our mind. Extreme verbal editing had been necessary in the peak of our earning years. Success happens through other people. Now, there is little or nothing to gain from holding our tongue. 

Alongside the challenge of embracing that we are going to die is the irony that that might not come for a long time. We ponder: Do we really want to be here in our 90s and beyond? In a retirement community out west where I coached the aging who still wanted to work there were many stealth suicides. Old old age can be undoable for some.

For those who are determined to still earn a buck from working, here is my guide, free to click open, on landing, holding, and moving on to better work Download Outwitting ageism. "At my age" (as Millennials would say) I am still hustling about 50 hours a week. My mission is to able to wave goodbye to planet earth from my word processor. 

Coaching, lecturing, and writing/ghostwriting thought leadership content on human resources and careers.

For individual coaching – sliding scale fees. Complimentary initial consultation. The special area of expertise is the displaced over-50 professional. Please contact Jane Genova janegenova374@gmail.com.

 

Hey, Tell Them To Stop Talking Retirement to You

"Not all Americans find retirement to be a top priority." - Alexandra Malito, MarketWatch, January 3, 2020. 

Aging does not have to mean letting go of working for income.

In fact, found the U.S. Bureau of Labor Statistics, over the last 30 years the number of those 65 and older who are employees or self-employed has tripled and the number of those 75 or older has quadrupled.

In short, just as in the Second Women's Movement in the early 1970s, aging in America is becoming all about choice.

There are those I interviewed in Oro Valley, Arizona, who opted to leave working and that was that. Sure, they admitted they could use extra money to "do what we want." But to them that wasn't "worth" being an employee again. 

On the other hand, there were entrepreneurs in Oro Valley I interviewed who had eased off but not stopped operating their businesses. It wasn't so much for the money. More it was to stay in the game. What they knew from those who did retire is this: Shortly after officially retiring one's professional identity goes poof. The phone, the email account, and the texts - all stop. There is The Great Silence. 

At age 59, I discovered the digital medium of blogging. It was so rare for a baby boomer like myself to embrace blogging, including for client assignments, that marketer Toby Bloomberg did an article on us. The coming of digital opened a whole new chapter in the careers of those who might have retired 30 years ago. Of course, I am still at it, with my three syndicated sites open for sponsored content. In addition, they are a key new-business development tool.

What also keeps me working essentially full time is that a communications niche which has collapsed - books - has bounced back. Weekly, I receive inquiries from those around the  world who need a ghostwriter or editor for their books. Increasingly those books are read on Kindle, not in print form. Books are the price of entry in professional services, ranging from management consulting to public affairs. 

On the internet, I also run into college classmates - Class of 1967 - who also have chosen to stay in the labor market. Among them is E. Jane Beckwick, art professor at a New York City college.

"These days," that's no surprise. It has become a fresh kind of status symbol to be still working "at our age." A sign of changing times, in the past four or five years, fewer are asking older professionals "Are you still working?" That has become as insulting as "Ok, Boomer." 

But, that doesn't mean there haven't been bumps on the road. For those struggling to land work or hold onto it, here, free to click open, is my book on developing the attitude needed to keep earning income Download Outwitting ageism.

In addition, for those who recognize they must change in order to be marketable and can't, here, also free to download, is my book on sliding out of a comfort zone. 

Coaching, lecturing, and writing/ghostwriting thought leadership content on human resources and careers.

 For individual coaching – sliding scale fees. Complimentary initial consultation. The special area of expertise is the displaced over-50 professional. Please contact Jane Genova janegenova374@gmail.com.

 

Stay Home Tonight - Do Your Failure Resume

For those who intend to do 2020 differently than 2019, a must-do is what is known as a Failure Resume.

January 31st is the last day to put that together. Why it's necessary is that it identifies patterns that have been obstacles in the past. That awareness can help prevent them in the future.

In addition, there can be a lifting of resentment against people, places, and things humans tend to blame for their setbacks. The Failure Resume gives the opportunity to take ownership of what part you yourself played in the disappointment. 

In her career-guide best-seller "What I Wish I Knew When I Was 20" Tina Seelig presents excerpts from her own failures in resume form. She focuses on three categories of failure: professional, academic, and personal.

You could add to or delete from that list. 

There is no one template. A simple version for professional failures could cover:

• What seemed like a sure thing but didn't pan out
• My direct role in the setback
• Lessons learned.

Sometimes it's useful to seek out input from others in creating the sections of the resume. Too often we simply can't see ourselves and how our mindsets and behaviors were destructive.

In 12-step programs that's how the Fifth Step goes. The human beings determined to free themselves of the wreckage of the past discuss their "character defects" with a person they trust. Essentially the attitude is: Here is what I think I figured out, but, is that the way it really went down?

The good news in all this comes from Seeig. She observes:

" ... if you aren't failing sometimes, then you aren't taking enough risks." 

The parents of baby boomers and even the older members of Generation X took few or no risks. Their model had been the job-for-life. It was irrelevant back then if they thrived on that path or not. No surprise, they eagerly embraced retirement. In contrast, the new status symbol is becoming who is able to hold on working the longest.

Coaching, lecturing, and writing/ghostwriting thought leadership content on human resources and careers.  

For individual coaching – sliding scale fees. Complimentary initial consultation. The special area of expertise is the displaced over-50 professional. Please contact Jane Genova janegenova374@gmail.com.

Born in 1960 or After? To Get Full Social Security Retirement Benefits, You'll Have to Be 67

That monthly Social Security check was supposed to provide only part of income after retirement. 

That was then, before the end of company pensions, the financial crash of 2008, college for offspring became so expensive, and medical expenses not covered by insurance went through the roof.

But those of you born in 1960 or after have to wait until you are 67 to receive your full benefit. That means that if your employer cuts you loose before that age you will have to scramble for work to pay the bills.

Research shows that the odds are that more than half of you will be forced out your job and only one-tenth of you will be able to obtain jobs with a comparable salary.

Here, free to click open, is my book on how to land, hold, and move on to better work, no matter your age Download Outwitting ageism. And, here is my book, also free to download, on how to change in ways that you will remain marketable. 

There's also another option. Suppose you are 60 years old now. You can apply at age 62 for reduced payments. For the rest of your life you will receive about 20% less than you would have had you waited until 67.

However, one financial school of thought on that is this: By taking Social Security early you can receive more over your entire lifetime than you would have if you waited five more years.

No matter what you choose, it's becoming increasingly the new normal that you will still find it necessary to continue to work for income. According to the Federal Reserve, at least one-third of those who retire bounce back into the workforce. Some of those are bored and searching for stimulation. Some can't adjust to having no professional identity. But most just can no make ends meet.                      

Coaching, lecturing, and writing/ghostwriting thought leadership content on aging.

 For individual coaching – sliding scale fees. Complimentary initial consultation. The displaced over-50 get back to work. Please contact Jane Genova janegenova374@gmail.com.

 

Radical Frugality: Hang Out at the Toledo County Public Library

Founding father Ben Franklin had been the primary mover in establishing a way ordinary people had access to books.

That was the public library.

Since that time - the 1730s - the public library has become a lot more than books. Essentially, it's a Third Place, where human beings like to hang out, in addition to their homes, work, and school.

Currently, there are more internet stations, CDs, and DVDs than books. Outreach includes training in everything from how to search for a job to operate Microsoft Office. Groups book the community room for activities such as presenting the secular-humanists point of view.

Obviously, all this requires money. If the funding is less than needed, then the local library system can deteriorate. The brand becomes a joke. People use it less. The media can pile on.

That's why smart public relations is a must-do to keep the flow of funding going. Funding sources usually include:

Federal, state, and local grants

County/city allocations

Levies and referendums

Property taxes

Donations.

One of the best examples of a public library which knows how to tell its story is the Toledo, Ohio Lucas County Public Library. 

Glance at the check-out receipt. At the bottom is, in bold type, the statement:

"You just saved approximately ____ by using your Toledo Lucas County Public Library today."

For me, on 12/28/19, the amount was $140. I had checked out:

Against Empathy

Utopia Is Creepy

What I Wish I Knew When I was 20

Sober curious

Fat, Forty, and Fired

You Are Awesome

Given that I relocated to Toledo at the end of August 2019 and had checked out an average of six books weekly that means that, as the Toledo County Public Library documents, I have saved about $2,240.

Those savings can be channeled into buying more from local merchants. You bet, the public library helps drive Toledo's economy. 

Not long ago I treated myself to one of those specialized bikes from Wersell's Bike Shop, located on W. Central Avenue. The perk from shopping local versus online from a major ecommerce retailer is personal service.

When the bike was making funny noises, Wersell owner Jill had her team repair it w/o charge. An institution in Toledo since 1945, Wersell creates the infrastructure for a biking culture. That enhances the city's green ethos. In turn, that adds to its national profile. 

Another brilliant promotional tactic is the library's seasonal "Program Guide." In print (how cool), the 69-page brochure lists, by branches, all the activities for that time frame. The January - April 2020 one, on pages 17 through 19, has for the Kent branch these categories:

Young Children (0 -5)

Kids (5 -10)

Teens (13 - 18)

Youth

Adults (18+)

All Ages

For adults, free digital courses range from an introduction to Canva to Google Sheets.

A third way Lucas County Library puts itself out there is through its ability to nurture old-fashioned word-of-mouth.

When I mentioned that I would go to Barnes & Noble to try to find a map of Toledo, a neighbor told me that the LaGrange branch stocks those (free) in the lobby. You got it, again I saved money.

In a lecture on architecture, several attendees noted the contours of the West Toledo branch. Go look at it, they told me. 

And, when I needed a book for an upcoming assignment, the local client told me to forget Kindle. The Lucas County library system acts fast on getting to us books not at that particular branch, even new ones. More money saved.

When The Recession finally hits, public libraries throughout America will find their funding in play.

Before that, they can be proactive.

They can analyze how Toledo positions and packages itself as the go-to community resource. They can import aspects of that model.

Public opinion probably has become more powerful than government, leaders, and even wealth.

Smart global ghostwriting, with niche social networking know-know. Emergencies welcome. Complimentary consultation (pressure-free) janegenova374@gmail.com.

Ok, Boomer Can Still Hit RealMoney, Not So for Millennials

Inheritances

Settlements in divorce

Current gains in the stock market

That last good job

The lucrative assignments still coming our way.

Those are among the ways Ok, Boomer can continue to hit Real Money.

Agreed, so much in the financial media had portrayed us as The Financially Lost Generation.

There's even a grim book supposedly capturing our sad state of financial affairs - "Fifty-Five Unemployed Faking Normal" by Elizabeth White.

Along with that is my own e-book, free to click open, on the struggle to land, hold, and move on to better work "at our age" - Download Outwitting ageism.

But, there are those of us who didn't get lost, not even for a year or two or three.

Many of us who did find ourselves knocked out the box navigated our way back. 

And the new group of 55+ seems to be connecting the dots on being financially solvent until 100 years of age or more.

Not so for Millennials.

BusinessInsider hammers how far they are behind financially where Ok, Boomer had been at their age. And once that financially behind, it would be a miracle if they ever caught up to where we are currently.

Their average net worth is about $8,000. One medical bill could wipe that out.

Their average student loan debt is $29,800. Almost half lug around that burden, like a sack of rotting whatever.

And with their average annual earnings of $35,592, the odds are against paying off the loans before they pile on lots of interest.

Meanwhile the cost of living is high. Major coastal cities have become unaffordable. A studio apartment in downtown Jersey City, New Jersey, near the Hudson, is about $3k a month. In the Midwest, even in Ohio cities such as Youngstown and Toledo where rents are declining, living without roommates may not be doable. In downtown Toledo, the one-bedroom runs $800 monthly. When I started out on Adulthood, rent was 50 bucks a month, utilities included. 

At the end of the day, the appropriate mindset may be that every generation has its blessings and curses.

Millennials have the tech expertise and never were emotionally or sexually hog-tied by Puritanism. For now, though, their opportunities in most jobs are limited. Their financial shot is through entrepreneurship. That's not easy.

We Ok, Booomer had affordable everything. Our downfall was the Disney meme of sustained happiness. We expected too much. Learning how to cope with setbacks and the phenomenon of aging has been brutal.

Let's all try our best to be open to joy in 2020. And to up our earning game.

Smart global ghostwriting, with social networking know-know. Emergencies welcome. Complimentary consultation (pressure-free) janegenova374@gmail.com.

Semi-Retirement - Way Too Quiet

The shift from a full-time job to semi-retirement can be traumatic.

One part of the transition that's usually not mentioned is The Quiet. Professionals go from the buzz of workplace and the verbal dynamics of the grapevine to The Quiet. Along with the lack of sound is the awareness of spending lots of time alone.

BusinessInsider presents the situation of a full-time university professor who retired at age 64. His wife is still working so she's gone for the home during the day. He does operate a small online business. But even though he's an introvert he realized his life had been disrupted by The Quiet. The man prefers to remain anonymous.

The solution? What he has come up with are these tactics:

Starting a book club in his basement. He scheduled it often enough to create social bonds.

Getting out of the house. That puts him in social interactions. They are superficial but they fill the need of Man The Social Animal.

Developing a hobby. His is woodworking. 

Taking advantage of opportunities to engage in conversations, no matter how trivial. Again, Man is The Social Animal. This former professor even chews the fat with telemarketers.

Takeaway: Never underestimate the difficulty of transition. It's real in semi-retirement.

Coaching, lecturing, and writing/ghostwriting thought leadership content on aging.

For individual coaching – sliding scale fees. Complimentary initial consultation. The displaced over-50 get back to work. Please contact Jane Genova janegenova374@gmail.com.

 

Now Here's an Interesting Professional Opportunity

This offer from Larry Presily is one a certain kind of professional can't refuse.

As The Guardian reports, the newspaper Persily very  recently bought - Skagway News - is up for sale.

The price is Zero. That is, he is willing to pass on ownership to the enthusiast who is committed to providing a future to this print newspaper distributed in and around Skagway, Alasksa. Skagaway has about a population of 1,000 - some of who flee during the harsh winter. 

The current owner, that is, Persily, just couldn't make a go of it.

But, as with much of experience that turns sour, there is plenty to learn. To lift the newspaper out of financial difficulties would require, he concluded, a one-person operation. The new owner would have to take on the multiple roles of journalist, editor, community liaison, ad sales rep, and public relations promoter. In addition, he or she would have to live in Skagway and become a real part of it.

Displaced journalists or those over-50 whose career path derailed and want to explore other lines of work might find this offer seductive. 

However, embedded in it are formidable challenges.

The printing facility is 125 miles away, over harsh terrain.

The residents of Skagaway are marching to their own drummer. That might make it difficult to assimilate.

And, really now, does a community really want a local newspaper? When Youngstown, Ohio lost its Advocate, there had been expressions of deep sadness. But no viable rescue plans. Both news and a sense of community come from local broadcasting. Also, my blog post about a Good Samaritan Youngstown Police Department Officer probably brought in as much traffic as articles used to receive at the Advocate.

Am I tempted to present myself as The Suitable Savior of the Skagway News?

Pre-2014, I might have been. But not after my journey that year from the New York Metro area to the desert of Arizona. I went there as one of those The Next adventures. What I ran into was anti-semitism. And I am not Jewish. I am just a former New Yorker who, it turns out, doesn't assimilate easily. 

However, I encourage others who can more effectively take on protective coloring to pitch themselves to Persily. Here is the contact information.

Smart global ghostwriting, with social networking know-know. Emergencies welcome. Complimentary consultation (pressure-free) janegenova374@gmail.com