Read up before turning the page to retirement

By Nancy Paradis
Published June 26, 2007

Confirmation that the 78-million baby boomers are soon to face retirement is the number of books that started hitting bookstore shelves a few years ago. Many of the books focus on the financial aspect of retiring, often painting a dire picture for folks who may spend a third of their years in retirement. Others look at different aspects of this post-employment time, from the emotional and psychological impact of leaving the workforce to what to do with the sudden influx of leisure time. One thing that emerges from all of the books, however, is that retirement for most folks born between 1946 and 1964 will look very different from that of their parents. Below is a sample of books, some published several years ago as the first boomers approached retirement.

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Retire on Less Than You Think, the New York Times Guide to Planning Your Financial Future by Fred Brock ( Times Books, 2004; $15)

The author, a business editor for the New York Times, believes the widely reported projection that boomers will not have enough money to retire is a myth perpetrated by both financial experts and the media. As he states in the preface, "I hope to balance these self-serving projections and help people realize that retirement, however they define it, is not just a dream."

After a brief discussion of the outdated notion of retirement as withdrawing, retreating, or giving up, he notes that today's retirees have a new view of this phase of their lives. This emphasizes retiring to something positive in the next stage of life.

Subsequent chapters deal with figuring out what sort of finances you really need, versus what the experts say; cutting back and simplifying your life - one way to increase income; deciding where to live, and looking at two key factors in the decision to retire: assets and health insurance.

Brock thinks the boomers can count on Social Security. A resource guide includes Web sites for information and financial calculators.

This is an excellent book for those whose main concerns focus on finances.

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How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won't Get From Your Financial Advisor by Ernie J. Zelinski (Ten Speed Press, 2004; $16.95)

Zelinksi does not believe the most fulfilling times of a person's life are passed in jobs that are dull, repetitive and far from stimulating. He praises the alternative: what these workers could create for themselves if only they weren't chained to a traditional job. (He bases this attitude on his personal experience: semi-retiring at age 30 with a net worth of less than $30, 000.)

While acknowledging the impact finances can play, this author of the bestseller The Joy of Not Working tackles retirement with the glee of someone in the desert who finds a bottle of chilled water. There are several keys to a happy retirement, he says, including:

- Retire sooner rather than later.

- Develop a "correct" relationship with money so it doesn't take a million dollars to let you enjoy retirement.

- Engage in creative and meaningful pursuits to generate a sense of purpose.

- Create and maintain great friendships.

- Follow your own dreams, not someone else's version.

As this recent book emphasizes, "a happy, wild and free retirement is based not only on a healthy relationship with money and our financial resources, but . . . above all, a happy retirement is based on a healthy relationship with ourselves."

The book is sprinkled with cartoon illustrations and pertinent quotations on work and retirement. Get this book if you look forward to a retirement with "zing."

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Retire Smart Retire Happy, Finding Your True Path in Life by Nancy K. Schlossberg (American Psychological Association, 2003; $14.95)

Counseling psychologist Schlossberg deals with psychological and emotional issues that begin after the retirement party, when a new retiree must suddenly face the questions:

What do I do with my time now? How do I find meaning or an identity without a job? Where will I meet new people and make new friends? When should I get up?

"I am writing for all retirees seeking new ways to lead a fruitful life and for prospective retirees, many of whom are designed to feel let down if they do not give some thought to retirement before it happens, " Schlossberg says.

"Even for those recent retirees who claim they have never been happier, there is an enormous period of adjustment as they move into uncharted territory."

If you're worried about the psychological impact retirement can bring, this is the book for you.

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What Color Is Your Parachute? For Retirement, Planning Now for the Life You Want by Richard N. Bolles and John E. Nelson (Ten Speed Press, 2007; $16.95)

What Color is Your Parachute?, the bible of job seekers for decades, moves seamlessly into the next phase of life with this new edition on retirement. It offers exercises to help readers define what they want from retirement; to act in their best interest; to make key decisions about spending, investing and saving, and to forge relationships now that will be necessary after retirement.

What Color is Your Parachute? For Retirement will make the reader work, but the result should be a more satisfactory retirement.

This is the book for folks who loved the original What Color Is Your Parachute?, or who want a more structured blueprint for navigating their lives once they've pushed back from their desks for the last time.

Nancy Paradis can be reached at (727) 893-8342 or nparadis@sptimes.com.

[Last modified June 25, 2007, 15:43:24]