Can Houston Baby Boomers Re-Write the Rules for Retirement?

As the Boomer Generation continues to re-write the rules, the call for redefining "retirement" is growing louder each year.  Our parents referred to their retirement years as "The Golden Years."  However, our generation demands a completely new definition for "retirement."  We're not happy with a word that shares a meaning with end-sound words like "depart," "relinquish," or "surrender."  And "Encore Generation" sounds a bit too much like Madison Avenue for our generation.  Some thought leaders are coining new terms such as "recreationist," as in recreating a new life.  While a new term hasn't quite caught on for this wave of older adults, some linguists are batting around new terms such as "eldering" in hopes of defining the Boomer's next transition.

The "how's" and "what's" of transitions appear in many forms.  A basic question is how does one really plan for thirty years of "retirement?"  Do you remember what you were doing thirty years ago?  Can you picture what you will be doing thirty years from today?

It used to be you retired at 65 and died at 66.  Now, healthy 65-year old men can reasonably expect to live until they are 85, according to Age Tables provided by the U.S. Social Security Administration.  A couple where one spouse is 65 today, can expect that one surviving spouse will live into their 90s.

One particular challenge to business owners and senior executives is the immediate loss, unmooring and disconnect occurring when one no longer is engaged in their business organization.  The fire is not dimmed but the day-to-day structure of their life no longer remains.

Recently, I met Steven Brody of Naviond^tm (www.naviond.com).  Steven and his company provide support and guidance to retired executives and business owners and assists them in sorting out the new questions which might arise in their new circumstances.  A circumstance that we once called "retirement."  Questions such as how does one apply their talents, skills and experience to their new worlds?  What is the health of those around us?  What is the health of our relationships with partners, family, and friends?  What contributions can we provide and who shall receive these contributions?  How are we mindful when dealing with our assets and what is the purpose of our lives today?

Steven and his partners through Naviond^tmfound that helping high-performing individuals address these concerns can best be accomplished through the support and advice of like-minded peers.  Often, sharing our experiences give us valuable insight and guidance as we discover our own answers to these important questions.

This is also true about estate planning at our law firm.  Helping people navigate the maze of tax, estate and other planning options associated with our journey through life is what we're all about.  Estate planning is the smart thing to do.

It was difficult to accumulate your life savings and other assets; it is easy to lose them.  However, in many circumstances it also may be easy to protect your assets.  Protecting what you have and who you love is a process that involves seeing the journey in terms of legal, financial, and care/family dynamics and helping provide a strong structure for you and your assets.

If you would like to learn more about lifestyle transitions and how effective estate planning can be for Houston families, please click here to visit my website.