Is The Word "Retirement" In Your Lexicon?

Retirement and baby boomers are very much in the news these days! In a recent article in the Metro section of the N.Y. Times, music legend Judy Collins commented “Retirement is not in my lexicon.” That same edition also featured Manhattan’s 93 year old, recently retired, District Attorney, Robert Morgenthau, and four attorneys – all in their 80’s or beyond – who clearly had no interest in retiring. This week’s Times did a special section on “Retirement” which coincided with Tom Brokaw’s CNBC special on Baby Boomers. Of particular interest to us was Brokaw’s conclusion that baby boomers aren’t planning to retire – either because they can’t afford to or they just don’t want to.
 
And so we ask, is retirement in your lexicon? How do you define it and what does it mean to you? We thought we’d start the ball rolling –
 
ROSEMARY – The word “retirement” is really not in my lexicon either, mostly because, in my view, it has no clearly understood meaning. For me, it’s not a particularly apt or good description of the period on the other side of 50. For too many people, including myself, it comes with a host of negative connotations harkening back to my parents’ generation. All too often it is descriptive of “what we don’t do” and tells little of what we are doing.
 
When I describe the span of thirty or more years I hope to have “after mid-life and before the after life,” I prefer not to use the word “retirement” or to say “I’ve retired.” I’ve opted instead for “I’ve taken SENIOR STATUS™.” I like being a lawyer (my most recent career) but I don’t want to do it full time, right now. That may change in a year or two – maybe I’ll want to go back to full time; maybe I’ll stop practicing entirely. That’s what Senior Status™ and seniority are all about for me -- a period of choice and flexibility in which I can do whatever I choose to do and am able to do. My abilities, choices and options may vary because of finances, health, fitness or other factors. I have, however, earned the right to have those options and the privilege of exercising them. I’ve stepped up to seniority – not down to retirement. Semantics, maybe, but meaningful to me, nonetheless.
 
BARBARA – Retirement----ecch! I chose not to use that word or even think about “slowing down” or “pulling back.” To me, “the other side of 50” is a time of growth, freedom and choice. I don’t have anything to prove to anyone but myself. I can try new things. I can figure out what motivates me; what makes me feel fulfilled; what makes me tick…and then go after it. I am lucky: I am healthy and my financial plan is in place. Most of my “must dos” and “haftas” imposed by others—bosses, clients, family and finances—have been minimized or removed. Of course that might change in the future but since I chose to “retire”, I have learned to embrace change. Sure, change is sometimes scary and eliminates some things from your life—but that leaves room for other things. I can look at it positively—or negatively. I choose to be positive and move toward new things. Retirement, stepping back—not me! Doing something different, moving forward—absolutely! We invite you to join the discussion – How do you define or describe that 2 or 3 or 4 decade period that is “the other side of 50.” And so we ask, is retirement in your lexicon? How do you define it and what does it mean to you? We thought we’d start the ball rolling –