Transition to Retirement – Go out on your own instead! Really??

July 16, 2012 by 2 Comments

In my last post, I wrote about IBM’s Transition to Retirement program but there are many of these types of programs going on.

I also wrote about my experiences with my own family with the father “retiring” early when he was not ready to retire.

I have also had discussions on multiple LinkedIn groups about that you have to “work” to generate an income that supports the family.  That then allows you to fulfill your life’s work. Unfortunately, I see that as a belief and not fact.

As baby boomers, we were trained by our parents to go to work for father-like or paternal companies that would take care of us. Most of us did just that including myself.

However, there is a major shift going on.  The Washington Post published on 26th of June an article titled – Why Baby Boomers are the innovators of the future by .

Dominic wrote:

“Baby Boomers are starting companies at a faster pace than ever before, according to a March report by the Kauffman Foundation and younger workers lack the disposable income and job prospects they once had. This means we may be witnessing a passing of the innovation baton to members of the older generation. As older Americans begin to define the debate around innovation, then the generation gap will soon make its presence felt in innovation hubs like Silicon Valley.”

This is a dramatic shift from the past. Please read the link the generation gap.

He also wrote:

“Meanwhile, the 55-to-64 demographic now boasts the highest rate of entrepreneurship in America, while – surprise! – the lowest rate of entrepreneurship actually belongs to the 20-to-34 demographic. That’s not all. The fastest rate of social media adoption now also belongs to the Baby Boomers and seniors, according to 2010 data from eMarketer. While there are still more Millennials than Baby Boomers who are active on social media, Facebook has become the type of place where your grandparents might hang out, with 47 percent of all Boomers now maintaining a social media presence.”

Why is this happening?

I think a lot of boomers have been pushed out of the corporate world in this last recession.  Some like me, just got sick of it. Either way the generation has lots of experience and most are not ready to retire and do nothing. They want to make a difference. Oh yeah they want to make a buck or two along the way.

Is this scary to you?It was for me but more on that in the next post.

More importantly download my whitepaper “Don’t Retire Even If you Can and What to do Instead – A Baby Boomer Manifesto”

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The next round of the Cure for Career Insanity  starts on July 30th.  Go the the Cure for Career Insanity page for more information and to register.

Like what you read? Click here to subscribe to this blog!

Please visit my Career Pivot FaceBook page daily for interesting articles.

Please check out my one on one coaching packages or the Cure for Career Insanity webinars

Marc Miller Career Design Specialist

 

Filed Under: Baby Boomer, Employment, Retirement Tagged With: , , ,

Transition to Retirement – Retirement Really? You are really going to RETIRE?

July 13, 2012 by 4 Comments

In preparing for my presentation this week at Network in Austin, I reached out to my network with the goal of filling the room.  I reached out to former colleagues at IBM.  I soon learned about the “Transition to Retirement” program that was offered by IBM.

They work 60% of your normal hours. 

They receive 70% of their salary with full benefits.

The catch is they must retire by December 2013.

My Family

This brings up a host of emotions of me.  My father was in his late 50′s in 1978 when he was offered a generous retirement package to leave his company. He had worked there for more than 25 years.

The reality was he was terminated.  Financially, he was in excellent condition.  Up until that time he was very healthy.  He was not ready to retire. He was not prepared to make the transition emotionally.

The termination came as a complete surprise. He lived 15 more years, most of the them very unhappy.  He eventually ended up teaching at a small university in Pennsylvania, which he really enjoyed.  The road to get there was incredibly difficult emotionally. It took 15 years but the lose of identity and the rewards of work killed him. Retirement was a death sentence and it had nothing to do with money.

My Response

I left IBM after almost 22 years in January of 2000.  I did not get a package.  I did not want a package.  I left on my terms and it was one of the best decisions I have ever made. I have made multiple career changes since leaving IBM and I have to admit it has been scary from time to time. My joy comes from being in control of my future. No one needs to take care of me. I am not looking for a father like corporation to provide me with a safety net.

I have been talking with former colleagues at IBM, Merck, and other big companies where similar programs are going on. Those who have accepted the package I hear three emotions:

  • Relief – Relief that they were offered the package
  • Excitement – That they are headed off to the next stage of their life
  • Fear – That they are headed off to the next stage of their life

Is this you?

The difference is you have 18 months or more to prepare for your next stage.

How are you going to prepare?

Are you really going to retire and do nothing?

If you answer yes then ……… you will likely die earlier than planned.  Retirement as was sold to us is not healthy.

Download my whitepaper “Don’t Retire Even If you Can and What to do Instead – A Baby Boomer Manifesto”

___________________________

The next round of the Cure for Career Insanity  starts on July 30th.  Go the the Cure for Career Insanity page for more information and to register.

Like what you read? Click here to subscribe to this blog!

Please visit my Career Pivot FaceBook page daily for interesting articles.

Please check out my one on one coaching packages or the Cure for Career Insanity webinars

Marc Miller Career Design Specialist

Filed Under: Baby Boomer, Retirement Tagged With: , ,

1st Year Anniversary – A Time for Reflection – Part Deux

June 22, 2012 by 2 Comments

I have completed one year in business.  In my last post – 1st Year Anniversary – A Time for Reflection I wrote about the terrific team that I had assembled to support me.

I have come a long way in just one year.  I encourage everyone to periodically look back and reflect back on their accomplishments.  That is what I want to do with this post.

I started a year ago blogging.  This will be my 151st blog post. I have gotten compliments in the last year on my writing.  This is the first time in my 56 years of life that I have gotten compliments on my writing.

Did I know anything about blogging? Heck no!

I wrote posts in series.  These included a series on:

  • Strategic Networking – I wrote about my philosophy of networking
  • Making a Career Pivot – My story of going from high tech to teaching high school math in an inner city Texas high school
  • Cure for Career Insanity – I wrote a 30 part series on my holistic method for changing jobs.
  • Baby Boomer Fact Sheet – I hired a college intern to do some research on the plight of baby boomers.  I shared those facts in the blog and released the fact sheet.  The numbers are very scary

One thing I did discover was writing the blog was very therapeutic. It forced me to reflect a lot on what I had accomplished in my life. I now have a much better understanding of who I am and appreciation of the ups and downs of the previous decade.

In January, based on the fact sheet the “Baby Boomers and Retirement Infographic” was published.

In February of 2012, I rebranded under the current name of Career Pivot. With this came the new website

At the same time, my white paper “Don’t Retire Even if You Can – A Baby Boomer Manifesto” was released.

In March of 2012 I was featured in a article on SunsetChasing.com.

In April of 2012, I announced the “Cure for Career Insanity” webinar series.  The first iteration of the series will complete June 26th.  I had a video produced to explain my unique method of systematically but holistically determine what you want in a job and how to get it.

I am now working on a book that will be released this summer on a recipe to make a career pivot.  Remember recipes are meant to be modified and seasoned to taste.

I have been interviewed twice for articles in magazines that will be published later this year.

I am developing a whole series of workshops called The Art and Science of Using LinkedIn.

Oh yeah, I helped over 50 clients in the last year make career decisions.

My client list continues to grow and a second iteration of my Cure for Career Insanity webinar series will be announced shortly.

Thank you to everyone who made this last year a wonderful experience!

Marc Miller Career Design Specialist

P.S. I am tired just reading this.

Filed Under: Baby Boomer, Career Insanity, Career Pivot Tagged With: , , ,

The Baby Boomer Retirement Paradox

April 23, 2012 by 1 Comment

I am big fan of Scott Burns, a nationally syndicated columnist who has been writing about personal finance since 1977.

In the Austin American Statesman newspaper, there was an article published titled “Future of the economy is divided by age”.  As I wrote this blog the article was not available online It is now under a different title. — “The real doomsday: Less bang, more whimper” Go read this article.  It is quite thought provoking.

Scott writes:

“I compare my Social Security check with the pay of those who work at McDonald’s. As I have pointed out in other columns, the average social security check is now $1,230. It is not subject to employment tax, and at age 65 you also get great health insurance for $99.90 a month.

Workers at McDonald’s which is hiring, earn about $8 an hour, pay the employment tax and, most often, don’t get health insurance. Just as someone once asked how many cars $60-an-hour workers in Detroit could expect to sell to $8-an-hour workers in Peoria, we need to start worrying about whether millions of uninsured low wage workers will be capable of supporting the growing millions of well insured retirees who no longer work.”

He states the problem is so big that eliminating waste, fraud and abuse, cutting defense spending or just about anything else in the government will not solve this.

The Baby Boomer Retirement Paradox

If you have read my “Don’t Retire Even If You Can — A Baby Boomer Manifesto” you will understand the retirement as we have classically thought of it makes no sense.  If you have not read it download it now!

On the other hand, baby boomers are so ill-prepared for retirement that the point is moot.  That is why it is a paradox.  We think we can retire, which many cannot, and it is not a good idea to start with.

I produced the following Infographic late last year to illustrate the point.

Click on Image to View Full Size

Download the Fact Sheet with 24 facts that has the source data associated with the Infographic by clicking here.

What do you think? If you retire at 65 and live to 95 or even 100 years of age, will your money last or will social security be there as we thought? What about Medicare?

Think about it! Let me know what you think! We all need to re-think the concept of retirement.

I HAVE!

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Marc Miller Career Design Specialist

Filed Under: Retirement Tagged With: , , ,

Don’t Retire Even If You Can — A Baby Boomer Manifesto

February 13, 2012 by 4 Comments

Don‟t Retire, Even if You Can

And What You Should Do Instead

Baby Boomers embraced retirement like a religion. It was all the doctrines and fables wrapped up in a 401K: The ant and the grasshopper; sacrifice and paradise; work hard all your life, save your money in an IRA and receive your reward at the end. If you hate your job, retirement becomes that much sweeter. Keep your eyes on the day when, like the beautiful, silver haired couple in the retirement brochure, you‘ll be able to quit work and spend your days at the beach.

Of course, there was a chance we‘d get hit by a meteor first. Or the economy could tank and take all our retirement savings with it. But those possibilities seemed remote.

For a lot of us, retirement became golden handcuffs, keeping us tied to careers where we had to drag ourselves to work every day and, once there, create diversions to distract us from the fact that we were there.

We knew people who changed careers, deciding 20 years was too long to wait to enjoy life. But those were the line jumpers. The rest of us stayed put. We didn‘t want to start over again and we weren‘t sure what career to choose if we did. So we hung in there. We thought we were playing it safe.

Then the economy did tank. Our great reward, our retirement, vanished almost overnight taking with it our entire vision of the future and flushing all our years of service to the 401K god. It looks like our entire generation got duped.

But here‘s the plot twist. —— To read the rest, download the entire document by clicking here!

Download this 17 page document and let me know what you think! Are you ready for a new reality?

Marc Miller Career Design Specialist

Career Pivot FaceBook Page

Twitter : @MrMillerAustin

Twitter : @CareerPivot

 

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