Retirement from School Libraries by Mark Williams
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Transcript of Retirement from School Libraries by Mark Williams
Navigating To A New Navigating To A New Life:Life:
RETIREMENT!RETIREMENT!
Two AspectsTwo Aspects
FinancialFinancialPsychological/EmotionalPsychological/Emotional
FINANCIALFINANCIAL
332.024332.024Tons of retirement planning books, nearly all Tons of retirement planning books, nearly all of which deal with finances exclusively.of which deal with finances exclusively.BTW, I am NOT a financial advisor!BTW, I am NOT a financial advisor!
TheThe BIG 4BIG 4It's never to early to startIt's never to early to start
Save, save, save!Save, save, save!Don't put all your nest eggs Don't put all your nest eggs
in one basketin one basketIf it sounds too good to be If it sounds too good to be
true... true... it is!it is!
STRS Is Your FriendSTRS Is Your Friend
http://www.calstrs.comhttp://www.calstrs.comMany tools to help you plan Many tools to help you plan the financial aspectsthe financial aspectsCan be customizedCan be customized
CalSTRS Workshops:CalSTRS Workshops:Call to make an appointment or register on lineCall to make an appointment or register on line
Demystifying CalSTRS: Demystifying CalSTRS: Ideal for early career educatorsIdeal for early career educators
CalSTRS Fundamentals: CalSTRS Fundamentals: Designed for educators 10 to 15 years away from retirement.Designed for educators 10 to 15 years away from retirement.
CalSTRS Retirement Check-Up: CalSTRS Retirement Check-Up: Intended for educators three to five years away from retirement.Intended for educators three to five years away from retirement.
Retirement Income Management: Retirement Income Management: Vital Vital for CalSTRS members age 45 and older, and retired members interested for CalSTRS members age 45 and older, and retired members interested in developing a post-retirement plan.in developing a post-retirement plan.
Retirement Option SelectionRetirement Option Selection
Irrevocable... except in these casesIrrevocable... except in these casesDeath of beneficiaryDeath of beneficiaryDivorceDivorceChange from 3Change from 3rdrd party to spouse or party to spouse or partnerpartnerMarriage or partnership post-retirementMarriage or partnership post-retirement
The On Line Retirement The On Line Retirement CalculatorsCalculators
Your retirement benefit is based on a Your retirement benefit is based on a formula, not how much you contribute or formula, not how much you contribute or the performance of CalSTRS investments. the performance of CalSTRS investments. Five calculators are available to help you Five calculators are available to help you plan your retirement.plan your retirement.
The most helpful will be the Member-only The most helpful will be the Member-only Retirement CalculatorRetirement Calculator
Use Other Retirement Use Other Retirement CalculatorsCalculators
https://basic.esplanner.comhttps://basic.esplanner.comwww.myretirementpaycheck.orgwww.myretirementpaycheck.org
Psychological / Psychological / Emotional AspectsEmotional Aspects
““No one arrives at the pearly gates No one arrives at the pearly gates saying 'Damn, I should have finished saying 'Damn, I should have finished that report to the principal'. They say that report to the principal'. They say things like 'I should have spent more things like 'I should have spent more time with my partner.' or 'Why didn’t I time with my partner.' or 'Why didn’t I go to Spain like I always planned?' go to Spain like I always planned?' Don't be afraid to retire. Enjoy your Don't be afraid to retire. Enjoy your
time. You deserve it.”time. You deserve it.”
Quitting All Work is Quitting All Work is a Mytha Myth
...and it's bad for you, mentally and physically!...and it's bad for you, mentally and physically!
““If you rest, you rust.”If you rest, you rust.”Helen HayesHelen Hayes
Life is a BalanceLife is a Balance
Work and LeisureWork and Leisure
Early Retirement? Take NoteEarly Retirement? Take Note
++ Health and Time Health and Time
- - Guilt, Perceptions, Guilt, Perceptions, Friends, MoneyFriends, Money
Men, Take NoteMen, Take NoteProblems often come if the man Problems often come if the man
retires firstretires firstWomen's careers are often Women's careers are often peaking as men's are winding peaking as men's are winding downdownMen's self-worth is often more Men's self-worth is often more connected to the job than women'sconnected to the job than women's
What Are Your What Are Your Dreams For Dreams For Retirement?Retirement?
The 5The 5VolunteerVolunteer
Continue Your EducationContinue Your EducationWork Part-timeWork Part-time
TravelTravelHobbiesHobbies
Think Outside the Think Outside the Retirement BoxRetirement Box
Retirement Will Retirement Will Inevitably Change How Inevitably Change How You Look At Life And You Look At Life And
The Way You See The Way You See Yourself...Yourself...
Take A Good, Long, Take A Good, Long, Hard Look At Yourself...Hard Look At Yourself...
Embrace Life, Not Embrace Life, Not MoneyMoney
Find Something You Find Something You Are Passionate Are Passionate
AboutAbout
You Don't Have To Plan You Don't Have To Plan Every MinuteEvery Minute
But it helps to have a planBut it helps to have a plan(Use a pencil!)(Use a pencil!)
Think Of Something You Think Of Something You Failed AtFailed At
Is is time to revisit that?Is is time to revisit that?
Honor Your EccentricityHonor Your Eccentricity
Being odd earlier gives you strength Being odd earlier gives you strength to do well laterto do well later
Get A Dog!Get A Dog!
Or a cat... pets are good for youOr a cat... pets are good for you
Get A MentorGet A Mentor
… … or BE one!or BE one!(Successful) old farts know a lot(Successful) old farts know a lot
Join A GroupJoin A Group
Discussing hopes and fears can Discussing hopes and fears can help you formulate a plan and feel help you formulate a plan and feel
less overwhelmedless overwhelmed
Attend A Boot CampAttend A Boot Camp
Boot camps for new or about to be Boot camps for new or about to be retirees are becoming more retirees are becoming more
popular and widespread. They popular and widespread. They vary in price and quality, so do vary in price and quality, so do
your homework prior to enrolling.your homework prior to enrolling.
Thanks!Thanks!
Don't forget your handoutDon't forget your handoutAnd may you have a And may you have a LONG, HAPPY, and LONG, HAPPY, and
FULFILLING retirement!FULFILLING retirement!