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Purpose & Power In Retirement

Purpose & Power In Retirement
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Eighty million baby boomers are heading toward retirement. Some are retiring now, either out of choice or because they have been laid off. Others will work for a few more years until their retirement plans kick in, until they feel they can retire, or until they're forced to retire. Whatever their age at retirement, they will have better health and live longer than their parents. And each of them will face these questions:

  • Do I want a reason to get up in the morning and be excited about the day ahead?
  • Do I still want to make a difference in the world?

They need a vision—a goal that takes into account their experience, wisdom, strengths, and limitations, and gives purpose to their lives.

Dr. Harold G. Koenig, with expertise in the fields of geriatrics, mental health, and religion, explains that the notion of retirement was in fact a marketing tool developed in the post–World War II period. Continuing today, society's image of retirement is based largely on myths, such as: things will get better when you retire—you'll be able to do everything you wanted to but couldn't when you worked. In fact, these beliefs can be harmful, leading to emotional issues, identity crises, and problems with physical health.

Citing current scientific and medical research, Koenig illustrates how having a purpose motivates and energizes people in their retirement years. He presents a step-by-step guide to identifying a goal toward which they can strive. And he shows how striving for that goal in itself brings meaning, satisfaction, and a sense of reward to retirement years.

"Finding purpose is more urgent than ever during the retirement years, when the search for purpose becomes one of the deepest of human longings," says Koenig. His Purpose and Power in Retirement is an invaluable resource for everyone heading toward retirement, and for anyone seeking meaning in life.

Templeton Foundation Press; January 2008
217 pages; ISBN 9781932031409
Download in secure PDF format
Excerpt
Dr. Koenig is a remarkable and intelligent doctor and professor of medicine who specializes in trying to help the rapidly growing number of people who are moving from middle age into their later years, who are either retired or who are considering retirement. This helpful book raises the question of whether idleness leads to the production of goods and discoveries and happiness, or whether it produces the opposite. If you have observed large numbers of people over age sixtyfive, do you find that those who are idle are healthier and more satisfied, or do you find that they tend to decline more rapidly in body and mind, as well as in happiness and self-esteem? Furthermore, is it sensible to think that the vast cosmos was created for the purpose of producing happiness for a single species on one little planet? Humans have not yet discovered any other species anywhere with the ability to plan for progress and for the expansion of information. Does this raise the question of whether we may have been created to serve as helpers in the acceleration of divine creativity? Do these observations imply that creativity can bring more benefits and more happiness than can idleness? Before the twentieth century, it was customary all over the world for people to work as long as they were able. It was rare for a person to change from being a producer to being a parasite on a nation’s resources. The idea that a nation or an employer should provide a pension was almost unknown. Recently, a major nation established a police force to prevent any person from holding employment after age fifty-five and to prevent any person from being employed over thirty-five hours weekly. What do you think will happen to the productivity of that nation? Will the younger and more industrious people want to leave? Instead of forcing idleness, would it not be more helpful to give incentives for more work, for inventions, and for entrepreneurship? In America, when Franklin Roosevelt was president, the first national Social Security system was adopted; it set the retirement age at sixty-five. At the time sixty-five was the average life expectancy; therefore, only about half the people would live to collect Social Security. The total cost of the program was reasonable. The increasing burden of paying for Social Security today could have been avoided if the retirement age had been made adjustable for changes in average life expectancy. Today such a change would not likely gain a majority of votes in Congress. However, quite possibly a majority of votes would favor a proposal to place no income tax on the earnings of people who work beyond age sixty-five. That would be a blessing not only for individuals but also for the national economy. Recently, more Americans have begun to advocate that after age sixty-five a person should become active as a volunteer for a church or a charity. Already America leads the world in volunteering and millions of people are productive and happier because they have volunteered. However, when you think about it, would it not also be wise to begin helping teenagers to plan their careers so that they could be beneficial and productive until they are disabled? In many careers, people can remain productive until age seventy-five or eighty-five. Of course, there are some careers where it would be necessary to plan ahead for a different career. For example, a great surgeon whose hands begin to tremble might have prepared in advance to be a teacher, lecturer, or researcher. Similarly, some of us would prefer not to fly in an airplane whose pilot was over seventy-five; but in this case as well, through conscious planning a pilot could prepare him or herself for a later career. In addition, rather than planning to live on government handouts, perhaps most young people could be taught to create a diversified investment plan for unexpected emergencies. While planning for a beneficial and happy career after age sixtyfive, most people could also begin at age twenty-five to build a diversified portfolio of assets, which would enable them to finance new enterprises and charities as long as they live. I hope that many schools and universities and churches and employers will want to provide encouragement and education so that almost everyone will make a wise plan for later life. Textbooks can reveal the glorious lives of old benefactors. At age eighty-nine I am busier than ever, more enthusiastic and joyful than ever, because I am working on dozens of programs to help humanity gain more spiritual wealth. If you want such joy and enthusiasm too, then continue reading. Sir John Templeton