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Rightsizing Our Homes – Episode 188

Kathe Kline and Kathy Gottberg talk about Rightsizing Our HomesRightsizing or Downsizing?

The size of our house is critically important when you are rightsizing. The reason Kathy called it rightsizing rather than downsizing is that she thinks it’s all very individual. What’s right for you might not be right for me. Also, rightsizing isn’t a sacrifice; instead of a downgrade, it’s an upgrade. The article, Think you need a 2000 sq ft house to be comfortable? Think again! talk about the benefits of rightsizing for you and your family.

Unused Spaces

A vast majority of us live in a tiny percentage of our actual square footage. Mostly when people come over, we just hang out in the kitchen or dining room. But the guest rooms or all these extra rooms and anything formal gets seldom used. That’s where so much of the square footage of the house goes to all those things that aren’t being used.

In my old house, we had a parlor, a formal dining room, and a breakfast area. We only used the formal dining room 3 times in the whole 10 years that we lived there. I never used the parlor; My husband would go in there sometimes to play the piano. These were probably 600 square feet that we never used.

Rightsizing Will Work for You

It’s actually a habit of buying bigger houses. When you started looking, you think in your mind, “Oh, I need this much space I’ve always had.” And Kathy thinks it’s very common for us to think, “If you are a hammer, everything looks like a nail.” You are so used to looking at what you have become comfortable with. You don’t think, “Maybe you don’t need all that much space. Maybe I should look at homes that are much smaller than I’m accustomed to.” Kathy started out with a 2,400 square foot house and they ended up buying a 1,400 square foot house. She didn’t even think there’s any way in the world that she could live in a 1,400 square foot house. But now she can’t imagine living in anything bigger because they definitely rightsize into it.

The Secret About Bigger Houses

Builder’s make more money when they sell you a bigger house. When they go mapped out a development, they want to squeeze as many houses as they can on the deluxe that they can get. Also, the bigger the house, the more they sell for it. Most houses sell for price per square foot. They’re very invested in trying to get you to want a bigger house because they make more money out of it.

Rightsizing Means Fewer Expenses

When Kathy downsized, she used the equity in their house and paid off their home, so it’s free and clear. She would rather have a tiny house rather than 2 or 3 times more and have a mortgage on it that you constantly have to keep paying on.

Our HOA fees are $285 a month, meaning that we moved for a more expensive area. Les and I moved to Sun City for the amenities. We have a 4-part series on our search for our new home. Here, they have great amenities; they have over a hundred clubs. That’s why we moved here. And also, I’ve met a ton of people, but you have to pay for everything.

Let Go of It

It’s all the other stuff that we have to let go of including the square footage of our houses. Kathy listened to one of our episodes about Multigenerational Living. In Kathy’s Rightsizingwords, loneliness is a huge problem as people get older. That is why having people around you is a great way to use the space in your home. You can also rent out rooms or bring in family members. There's a lot of ways you could still keep that house. That is rightsizing for you but it’s not eating your lunch or it’s not just setting their dead space.

About Our Co-Host

Kathy Gottberg is a published author of six books along with numerous magazine articles and her blog http://SMARTLiving365.com where she explores ideas and experiences that help to create a sustainable, meaningful, happy and rewarding life for herself and others.  Since turning 60, ideas surrounding positive aging and retirement have increasingly captured her interest.  Kathy lives in La Quinta, CA, with Thom, her husband of 41 years, and dog Kloe where they do their best to live joyfully and SMART, 365.

She has also been on our show before having great insights on episodes 135 and 157.

Mentioned in this Episode:

Think you need a 2000 sq ft house to be comfortable? Think again!
MedicareQuick.com/checklist

This post about retirement and retirement lifestyle first appeared on http://RockYourRetirement.com

Older People Have Better Skills – Episode 187

Kathe Kline and Kristen Edens talk about why Older People Have Better SkillsIf you listened to the previous episode in this series, you’ll remember that retirement is a new idea. The first episode of the series discussed that. The second episode discussed that so many baby boomers aren’t really planning on retiring until they are physically unable to work. Then, the third episode talks about maybe we don’t ever want to retire. Today’s episode discussed why you might want to hire some of the people who don’t even want to retire and have better skills.

The article, How hiring the over-50s is the key to beating the skills crunch, talks about the shortage of people with better skills and hiring the older worker will help.

It's a WIN-WIN for Everybody

Basically, hiring older people is a win-win situation in the workplace. Because here are these experienced workers and big employers who are looking to fill positions with people who know how they can jump into the job and takeoff. These experienced workers have the wisdom and better skills to really take that job, that position and that company forward. This skills crunch isn’t just experienced in the US but all over the world. We have people that are willing to work but does not really match the skills that the business needs. Part of it also goes to age discrimination.

Ageism is Based on Old Mindsets

Those old mindsets are based on myths that somebody is going to retire, and as soon as that person retires a younger person will come and build it up. But the misconception is that the time to train, the time to get them up to speed will cost more. You have this person that’s seasoned and he/she has been there and is getting so much money. Part of the problem of the companies 10 years ago is that when they don’t have enough money anymore, they forced the older people out. They just hire younger ones because they are cheaper. Society, employers, and corporations are starting to realize that it wasn’t the best idea. They had this experienced pool of talent and now all they have are these younger people who are capable but just not there yet.
10 years ago layoffs, forced retirements and early retirements were highly encouraged. Now they are realizing that these persons have better skills and knowledge. So, what happens is they get to hire them back as consultants.

In the UK there’s a Government initiative called, Business in the Community Age at Work Leadership Team, which was started in September 2016. The initiative’s aim is that every UK employer should increase the number of workers aged 50-69 in the UK by 12% by 2022.

Kristen thinks the UK is leading the path with this because of number one, the skills crunch, and two, the talent pool. They are realizing that’s the hot age group that they want.

Better Skills, Better Mentors

The article also talked about not only their skills but their ability to mentor their younger colleagues.

“They have often worked for multiple employers, in a range of environments and with a variety of management techniques so they have a valuable sense of perspective and resilience, Combining this with the fresh new skills, ambition and energy that younger colleagues are recruited for is a real recipe for success.”

We talked about multigenerational workplaces in episode 1. This is what the article talks about, bringing the generations together. They'll be able to have this synergy that you don’t get when you have a single generation workplace. The result is more productivity. Because you'll have different ideas, energies, and thoughts, and if you pull them all together, great things emerge. The UK is beginning to realize that.

Older People Don't Want to Quit Working, but…

Phil Jones comments: “After years in a highly-pressured role, sometimes over-50s are looking to maintain a good income in return for doing something they find less stressful, or more enjoyable, linked to personal purpose.

The ideal employment age is 25 to 45. People in these ages are either going to school, building a family, working full-time or part-time, and balancing their lives. They got a lot going on. On the other hand, people in their late 40s, 50s, and beyond, don’t have as much mental pressure and stress. So, it's nice to be able to relax and have a less stressful outlook on life in employment and yet still highly productive. Kristen thinks that we should hire more people after the ideal employment age because all those stresses in life are not as heavy anymore.
It Comes Down to Experience

My husband Les and I went to a local bar in our community and I noticed the waiter had no clue to do more than one thing at a time. He was very stressed out because he Better Skillswould deliver food and run back to the kitchen and then do it again. We were waiting for our order for about 15 minutes until I finally stopped him and said, “We’re ready”. But if he would have carried his order form on one pocket and a bottle of catsup on the other, he would have done far less running back and forth. An older person would have learned that already.

That is why it comes down to experience. You gotta get through those challenges. It doesn’t matter where we are in life, we’re going to experience that just as a part of the process. Eventually, that waiter is going to learn how to make his job more streamlined and easier.

That’s why there were apprentices because it’s a good way to learn. There are these senior employee hubs that are popping up where they have these seasoned or experienced workers who are ready to go out and help younger folks or businesses. We are coming back to that mentorship. Corporations and companies are starting to bring back these older employees for the mentorship.
About Our Co-Host

Kristen Edens is a content developer and brand specialist. She works with businesses to create realistic content plans that help them grow and thrive. What’s a content plan? Basically, it’s free information that helps let people know what you know, and once they know you, they might contact you to help them.

For example, this show. It didn’t start out as a content plan, because I don’t talk about money or investments, or insurance really, but people wind up finding out that I sell Medicare insurance, and then when they need it, they reach out to me. So that is what Kristen does. I met Kristen Eden on Twitter. She has a lot of great ideas about retirement.

You can also visit her at KristenEdens.com

Mentioned in this Episode:

MedicareQuick.com/Checklist
How hiring the over-50s is the key to beating the skills crunch

This post about retirement and retirement lifestyle first appeared on http://RockYourRetirement.com

Is the Concept of Retirement Dead? – Ep 186

Kathe Kline and Kristen Edens discuss, Is the Concept of Retirement Dead?Why is it so Difficult to Break Through Retirement?

The concept of retirement cannot be achieved in today's world without having the appropriate planning and funds in motion well before you reach retirement age. One of the problems is we’re stuck in a rut. It works for our parents it worked for our grandparents. But when you look at the whole picture of life, that was only a very short period of time. Things change but we are reluctant to change. That is why, when the economy went flat, we were trying to hold on to what we believe in, what we were groomed for and it wasn’t going to change.

This has happened in the past as well. If the people's concept hadn't changed, we would still have people who were building a horse and buggy.

The Concept to Retire Retirement

This article, Should We Retire Retirement, is very pro on not retiring and it talks about, baby boomers aren’t really taking jobs away from people. But there are also many articles from millennials who do say that baby boomers not retiring is taking something away from them.

Kristen thinks that this concept is just a myth that goes 2 ways. The younger generations are figuring that if the baby boomers don’t retire and get out of their way, they can’t advance. But the older generations are wishing to get a job so that they can go back into the workforce, but those young whippersnappers are taking the jobs. The truth is that there are so many jobs out there than there are people of any age to fill it. We just need to go and get that out of our mindset, same with employers as well. Because employers have the concept that if you’re turning 65, you’re going to retire soon. The problem is we’re all battling myths, so we just got to let go of that.

Rate of Unemployment in the States

In January 2019, the US unemployment rate grows slightly to 4%, up from 3.9% in the previous month and slightly above the expectations of 3.9%. When you’re looking at this unemployment rates between 16s and the early 20s, and then the 30s, 40s and beyond, there’s no wide divergence in there. Even with the economy falling 10 years ago, everybody who wants a job can get a job. But there are so many factors to consider when you’re looking at those unemployment rates. Those who are 16 and in their early 20s are still in school, they may be just taking seasonal jobs such as babysitting and lawn mowing and then those older employees, they’re starting to come back, but you also have to look at the ones that are done and doesn’t want to work anymore.

You Life's Purpose Is What Will Make You Happier

Just because you are getting paid for something, doesn’t mean that is your concept in life. Kristen’s life’s purpose is probably writing, whereas when she was working for pay for somebody else, she was getting paid for that but still I don’t see that as being her life’s purpose. That is why we need to separate what we are paid to do and what our purpose in life is.

Since the economic downfall, people have taken a whole new approach to what it means to grow up. That is why we need to redefine work. Because we’re so used to thinking of work like that, “we have to do this, we have to do that”. But most people that Kristen have interviewed who were above 50 have said that they should have done this all along because it makes them so much happier.

The Concept of a Better Place for You

Do you think the world would be a better place if we gave up the mindset of we have to do X, Y, and Z and instead turn it all around and find out what is our life’s purpose. Maybe it is an attorney, maybe it is a doctor, maybe it is a plumber or a teacher. The point is, is that really what makes your soul sing? How do you differentiate the work from what you have to do, to what you really want to do that fills your purpose.

I think there’s a place for both. There’s a place for working for money because you know how to do something or because the money is good. In addition to that, you should provide for your passion as well.

Make Your Time Worthwhile for You

When people come to Kristen for help in their content writing or building their second act, a lot of what she gets is, “I’m too old. What will I do?” What she says to them is that The Conceptyou’re just 50, or 60, you will have another 20 years ahead of you to focus. Think about those younger people who are still trying to figure out their lives. They’re not gonna get to your point in life until they’re your age. So, you have all that bonus ahead of you. And you already know you.

5 years from now, it’s gonna be 5 years from now. Regardless of whether you do something now to either improve your life, improve your relationships, improve your financial situation, your life passion. Whatever it is, the time is going to pass, so you might as well make it worthwhile for you.

About Our Co-Host

Kristen Edens is a content developer and brand specialist. She works with businesses to create realistic content plans that help them grow and thrive. What’s a content plan? Basically, it’s free information that helps let people know what you know, and once they know you, they might contact you to help them.

For example, this show. It didn’t start out as a content plan, because I don’t talk about money or investments, or insurance really, but people wind up finding out that I sell Medicare insurance, and then when they need it, they reach out to me. So that is what Kristen does. I met Kristen Eden on Twitter. She has a lot of great ideas about retirement.

You can also visit her at KristenEdens.com

Mentioned in this Episode:

MedicareQuick.com/Checklist
Should We Retire Retirement?
6 Pillars of Retirement
The Baby Boomer's 30 Day Journal: Keep Your Life On Track By Tracking What's Important

This post about retirement and retirement lifestyle first appeared on http://RockYourRetirement.com

Baby Boomers Might Never Retire – Episode 185

Kathe Kline and Kristen Edens talk about why Baby Boomers Might Never Retire65 is Not the Right Time to RETIRE

The reality nowadays is that Baby Boomers have turned its back on the belief that 65 is the right time to retire. As a matter of fact, most of them want to work well into their 70s or their 80s or even yet, they might never retire. Baby boomers are born between 1946 and 1965. So, most of them are now in their 70s and the youngest would be 54. Boomers will definitely hold a lot of the most senior and best-paying jobs in the workplace. But some of them won't retire, simply because either they haven't saved up yet or are just not ready to hang it up.

5 Generations in the Workforce

With the trend of those people in their 60s, 70s, and even 80s deciding to stay with their jobs and never retire, it resulted in a new occurrence of more generations in the workplace. That is why today, many workplaces are composed of five generations:

  • Traditionalists – born before 1946
  • Baby Boomers – born between 1946 and 1965
  • Generations X – born between 1965 and 1980
  • Generations Y, or Millennials – born between 1981 and 1995
  • Generations Z – born between 1996 and 2012

That mixture will certainly provide benefits in terms of the wide range of ideas and knowledge from a broad group of people that can actually serve the workplace well.

Bridge Jobs: Why it Might be Ok to Never Retire

The article, Report: 85% of Baby Boomers plan to work into their 70s (and even 80s), talks about something called bridge jobs (e.g., teaching, social work, counseling). Basically, it’s a bridge between full-time work and retirement or a temporary or short-time job right after your full-time career. People who are attracted to these jobs are usually people who aren't fully ready for retirement. In addition to teaching, social work, and counseling where they have more say over what they’re doing, there’s also second careers such as real estate agents, driving, music, or writing.

Those bridge jobs are like we’re looking at what we’ve done in our past, 20 or 30 years in what every field you did and seeing an opportunity that will open up to us. The big question in this matter is, what do I want to be when I grow up? Because we are now allowed to ask ourselves that question once again. You don’t have to be 10, 20 or on the verge of entering college for that matter.

What's Going to Happen to the Younger People?

We have so many people that want to work. So, what's going to happen to younger people? The generations X, Y, and Z? Do you think it’s going to be difficult for them to find a job because of this?

That is one of the fears and myths that exist. There are a lot of job openings, job availabilities and they’re going to be looking for different classes of workers. Those jobs are not going to be limiting one or the other, especially if you’re doing a bridge job. If I get a job as a real estate agent, that’s not going to prevent a young real estate agent from entering that field. If I get a job working for Uber, that’s not going to stop a younger person from working for Uber. And if I’m writing, that’s not gonna stop you from writing. That is because we’re going to have different styles.

Why are People Choosing to Work Longer and is it Going to be a Problem?

It’s in our own minds that we think that if there are many people who chose to never retire, it’s going to be a problem. These are fears that are established from somewhere that just don’t have any reality in life.

There are negative misconceptions around older workers that must be dealt with. One persistent idea is that boomers are standing in the way of younger talent moving up in an organization. In Deloitte’s 2018 global capital trends report, 15% of respondents believe that older employees were “impediment to rising talent.”

People believe that to be the case, especially with retirement age being 65 and people are refusing to retire or wanting to never retire. That’s why where that thought came from is that you’re holding us back and there’s this new wave of young talent coming in, you got to move out. But that’s not true, it's just that myth and the truth though is that there are 14 million job openings available. So, there’s got to be some for baby boomers and some for everybody else.

There are also Other Jobs for the Newly Retired

Older workers might fall into different categories. You might want to work but maybe not full-time. In addition to the bridge worker, we got some other types like the alumni Never Retireworkers (people who left and came back), the tenured workers, gig workers, on-call workers, and the self-employed.

When people retire they expected it to be fun but that’s not what they thought it to be. Also, they tend to become bored and sometimes it’s because it’s not giving them the social interaction. And then they realized, huh, maybe I could go back as a consultant? Or a part-timer. That is why, they tend to go back to their old job and usually, they are welcomed back. Because what the older people bring is the wisdom, the experience, and mentorship.

About Our Co-Host

Kristen Edens is a content developer and brand specialist. She works with businesses to create realistic content plans that help them grow and thrive. What’s a content plan? Basically, it’s free information that helps let people know what you know, and once they know you, they might contact you to help them.

For example, this show. It didn’t start out as a content plan, because I don’t talk about money or investments, or insurance really, but people wind up finding out that I sell Medicare insurance, and then when they need it, they reach out to me. So that is what Kristen does. I met Kristen Eden on Twitter. She has a lot of great ideas about retirement.

You can also visit her at KristenEdens.com

Mentioned in this Episode:

MedicareQuick.com/Checklist
Report: 85% of Baby Boomers plan to work into their 70s (and even 80s) by Sheila McClear

This post about retirement and retirement lifestyle first appeared on http://RockYourRetirement.com

How Retirement was Brought Up – Episode 184

Kathe Kline and Kristen Edens talk about How Retirement was Brought UpSocial Security Then and Now

When they brought up Social Security, life expectancy for men was 58 and it was 62 for women. What they did is they made the Social Security retirement age at 65. If social security now was similar in concept to social security then, you wouldn’t even start receiving it til’ you’re 85. As what our co-host Kristen Edens said, we already know what’s happening with them, because they are considering to increase it to 70, 71 or 72. A lot of people are realizing that they can’t rely on those services, those things that our parents and grandparents relied on. That is why, in the last few years, there’s been this massive shift of, “I’m gonna take care of myself.” Not really fully relying on 401ks, pensions or Social Security. Today's episode will have some insights on Mike Drak's article about, Where did the idea of Retirement come from?

Why Retirement is Being Brought Up?

The Social Security, pensions, and your own savings used to be the 3-legged stool for you. But nowadays nobody has a pension anymore unless you work for the government. People lost a bunch of money in their 401k plans. Things like these aren't being brought up that much. What they did when they lose all that money is they move it all to cash and then they lock it on all those loses.

People won’t hire people that are older. You’re kind of forced out when you hit a certain age. So many people tell me that after they hit the age of 50, they can’t get a job and you don’t get your social security til’ you’re 65. So, what do you do? Why will the idea of retirement be brought up in the first place?

10 Years of Change

The last 10 years have proven to be very fascinating because of the change of mindset in society, employers, and corporations. 10 years ago, layoffs, early retirements, forced retirements were just rampant. Anybody over 50, they were out with just a small early retirement bonus, which is not enough. But, as we all know there was this massive concern on unemployment, what’s going on and what are we going to do? What people did was, they found side gigs, do freelance, entrepreneurship and find jobs that would accommodate them.
Now, employers are realizing that there’s a lot of wisdom, experience, and knowledge that these older people can bring us. That is why we're brought up into it again.

Unity Between Multigenerational Workforce

We are at the point that we need the tech knowledge, the digital nativeness which is very popular with the younger generations but we also need the wisdom, the experience and the dedication of the older generations. Also, employees who know how to deal with people face to face.

I love the idea of multigenerational workplaces. It’s just not in our world but also in the world for assisted living where they are trying to bring the old and the young together. This has brought up much help for people learn something from different generations under one working environment. They’ve done some studies where it helps both all of the generations where you have different ideas and them coming together and just communicating.

Disadvantages of Working Longer or Not Retiring

If you’re not passionate about your work or if you’re working in a job that is physically demanding or stressful, the idea of continuing work is not very pleasant. Also, if you are How Retirement was Brought Upworking in a physical job (eg., construction worker, waitress), it might not be possible. Older workers can also make it more difficult for the young to get their foot in the door when they are not retiring.

If you receive Social Security benefits before retirement age, there is a significant penalty. Also, if you receive your Social Security benefits while you’re still working, there’s also a penalty.

About Our Co-Host

Kristen Edens is a content developer and brand specialist. She works with businesses to create realistic content plans that help them grow and thrive. What’s a content plan? Basically, it’s free information that helps let people know what you know, and once they know you, they might contact you to help them.

For example, this show. It didn’t start out as a content plan, because I don’t talk about money or investments, or insurance really, but people wind up finding out that I sell Medicare insurance, and then when they need it, they reach out to me. So that is what Kristen does. I met Kristen Eden on Twitter. She has a lot of great ideas on retirement.

You can also visit her at KristenEdens.com

Mentioned in this Episode:

Mike Drak's: Where did the idea of Retirement come from?
MedicareQuick.com/Checklist
Social Security History
Episode 109 – What Does Your Retirement Life Look Like?

This post about retirement and retirement lifestyle first appeared on http://RockYourRetirement.com