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At 6’s & 7’s

imagesIf confusion is the first step to knowledge, I must be a genius. ~ L. Liessner

Have you heard of the expression, “to be at sixes and sevens”? According to our friends at wikipedia it,“is an English idiom used to describe a condition of confusion or disarray.” Do you know anyone who might fit that description? Do you maybe fit that term right now? Making the decision to retire – the whens and hows of this decision – often leave people feeling the awful states of confusion or disarray. I thought it might be helpful to take a look this week at reason to stay at work. Yep, you read that correctly. Reasons to stay.

Last week we discussed the building of a legacy. While many people believe the majority of their legacy is financial, and therefore a reason to continue working, I’d disagree with this as a reason to stay in the workforce. Continuing to work will indeed improve our bank account but that’s not reason enough to stay employed once we reach about 70. After 70, a semi-magical age in terms of investments and Social Security, if you’re working only for the paycheck then something’s not right.

The most obvious reason a great number of folks continue to work is because they want the tax benefits from it. I’m going to leave that discussion to your financial guru but will remind you that there’s more to life than how much money you can spend in 24 hours.

Let’s look at some other reasons to continue to work. One of the most common concerns I hear from my clients as they approach retirement is their fear of losing touch with their friends at work. This is not only a real concern, it is one I want you to embrace. The fear of not having a social network will hopefully help you strengthen the relationships you have now but also to start to transition them to friends you have more in common with as you learn more about each other outside of the work arena.

If you are lucky enough to work at a place where there is good health insurance that’s another good reason to stay – but only if you like your work! Don’t just stay for that reason! If you have good coverage or maybe are one of the few who have excellent coverage it is likely much less expensive than Medicare and the supplemental coverage you need to purchase.

Another huge reason to stay working is that you have not yet formulated your plan for The Next Chapter. I’m here to tell you that thinking you’ll figure it out within a year or so might be really unrealistic. It can take as long as 10 years to work out the kinks and time is not on our side for this exercise! If you still need to get a beginning plan in place it might be wise to work part time for a little while or to start using your vacation time to sample different ways to live your life.

People frequently start working with me to get started on their plan and stick around to help get that plan moving. Very much like raising a child, which requires an entire village, it often takes a team to build the retirement you’re currently at sixes and sevens about. Need a hand? Give me a shout! Got a plan in place or are living that plan? Great! Give me a shout too – I love hearing from you!

Wishing you all the best for your week ahead!

~ Lisa

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