ENJOY AN ENCORE LIFE!
An encore life is something that begins during, and is an extension of, the third quarter of life age 55 to 80, thanks in large part to the longevity bonus of seniors living longer. It should be a time of new found freedom and flexibility.
The concert has not ended; the audience is so happy with the performance that they cheer for an encore — expecting to hear the best, most famous songs. THIS IS POTENTIALLY THE BEST TIME OF YOUR LIFE!
Do you love your life and feel totally satisfied with it “as is”? Congratulations! Don’t change a thing. But many people are ready to rediscover who they are, and what they want to do next with the considerable time they have left.
Here is a framework that can help you focus on making the most of your third quarter and creating your encore life:
1.Self rediscovery: Take some time for reflection, asking yourself questions about who you are and what you want to do in the next stage of your life.
2.Health and wellness: Address your physical, mental/cognitive, emotional and spiritual health, including diet and nutrition, fitness and exercise. “When you have your health, you have everything. When you don’t have your health, nothing else matters.”
3.Money and financial planning: This includes retirement income planning, estate and philanthropic planning, planning for Social Security, Medicare, long-term care and managing health care costs.
4.Family and relationships: Having a strong support network and social interaction with others does wonders for your health and outlook on life.
5.Employment or paid work: This includes continued career growth, career change, career transition, and part-time work to earn money either because you need to or because you enjoy it and want to.
6.Community and civic engagement: This is about giving back to your community through involvement in civic, cultural, religious and/or service organizations that you feel close to and strongly about.
7.Lifelong learning and personal development: This might be maintaining and developing relevant skills and abilities in order to continue meaningful work, or new learning for personal reinvention, reward and achievement.
8.Leisure and entertainment: What you do for fun. This could include travel, entertainment, creative activities, hobbies, and however else you enjoy your free time.
9.Lifestyle and housing: This typically involves the transition from living in your current home to downsizing, whether to a smaller home or into a retirement community. It may be near the city for entertainment and services, or out in the country in the fresh air and away from the hustle and bustle.
Retirement planning, as we have traditionally considered it, will prove insufficient for the years most people will actually spend after their careers are over and their children are on their own. Instead, planning for retirement should be expanded to include longevity planning, and should contemplate the lives people want to live during those extra years. Make the most of your third quarter; plan for an encore life.
To estimate your life expectancy, go to www.livingto100.com.