PDF Summary:60 Things To Do When You Turn 60 Years Old, by Elaine Benton

As you reach the milestone of 60 years old, 60 Things To Do When You Turn 60 Years Old by Elaine Benton offers guidance on embracing this new phase of life. In the first part, Benton encourages readers to rekindle passions, explore new interests, and prioritize self-care—from reviving hobbies to venturing out of one's comfort zone.

The second part delves into practical matters like financial planning, establishing legal measures, and considering income opportunities like consulting or starting a business. Benton also emphasizes building meaningful relationships, contributing to society, and engaging in lifelong learning for continued personal growth.

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• Consider automating your savings with a 'set it and forget it' approach by setting up a direct deposit from your paycheck into a high-yield savings account or investment fund. This ensures a portion of your income is consistently saved without requiring active management, helping to build and maintain a solid financial foundation over time.
• Simulate your Medicare costs to budget effectively for healthcare after 65. Use online calculators to estimate what your monthly premiums, deductibles, and out-of-pocket costs might be under different Medicare plans. Factor these estimates into your retirement budget to see how they align with your expected income and savings.
• Create a Medicare timeline for yourself by marking important dates on a digital calendar with alerts for enrollment periods. This way, you won't miss any deadlines for Parts A, B, C, and D. For example, set reminders for the initial enrollment period which begins three months before your 65th birthday and ends three months after, as well as the annual open enrollment from October 15 to December 7.
• Engage in a 'Medicare Plan Swap' discussion with peers who have different health needs. Find a group of friends or community members who are also evaluating Medicare plans and organize a discussion where each person shares their chosen plan and the reasons behind their choice. This can provide insights into how different plans serve different needs and may highlight aspects of the plans you hadn't considered.
• Engage in micro-experiments to test out retirement hobbies or activities on a small scale before fully committing. For example, if you're interested in gardening, start with a single plant or a small container garden. If travel is a goal, begin with short, local trips to build your confidence and understanding of what you enjoy. These mini-trials can provide valuable insights into what brings you joy and satisfaction, allowing you to refine your post-working years plan with real-world experience.
• You can start a "Future Fund" by setting aside a small percentage of your income each month specifically for post-retirement ventures or passions. This fund differs from a traditional retirement savings plan as it's intended for projects or businesses you might want to start after leaving the workforce, providing a financial cushion that allows for experimentation and personal growth without the pressure of immediate profitability.
• Experiment with a cash-only week to gain a deeper understanding of your spending habits. By using only cash for all purchases for a week, you'll likely become more mindful of where your money is going and how quickly it can be spent. This can lead to more thoughtful spending and saving decisions in the future, as you'll have a better grasp of the value of money when it's physically in your hands.
• Create a visual roadmap of your retirement goals by using a free online mind mapping tool to outline your desired retirement lifestyle, income sources, and savings targets. This visual approach can help clarify what you're working towards and may reveal areas where professional financial advice could optimize your plan. For example, if you envision traveling extensively, a financial planner might suggest specific investment vehicles to fund those dreams.
• Use a budgeting app that allows you to link your investment accounts and set alerts for specific conditions, such as when a particular stock drops or rises by a certain percentage. This proactive approach can help you stay on top of market movements without having to constantly monitor your investments. For example, if you own shares in a tech company, you could set an alert for when the stock price increases by 10%, which might indicate a good time to consider selling or buying more.
• Organize a monthly "financial health day" where you review your financial status, set goals for the upcoming month, and identify any decisions that might require professional input. During this day, you could also research local financial advisors or online financial counseling services to have options ready should you need them.

Manage your monetary affairs diligently.

As Benton suggests, the significance of managing your finances grows as you enter your sixties. Start by prioritizing the repayment of high-interest bearing liabilities, particularly those linked to credit cards and various types of non-collateralized borrowing. Alleviating financial strains can increase your disposable income during retirement, thereby ensuring peace of mind. Consider downsizing your home to capitalize on potential economic gains. Downsizing your residence or relocating to a less expensive neighborhood can greatly diminish your costs, thereby enhancing your economic adaptability.

Reflect on the items you possess and make a conscious decision to part with those that no longer serve a purpose or are simply superfluous. This process not only simplifies your surroundings but also opens avenues to monetize valuable possessions or contribute them to philanthropic groups. Ensuring financial order is equally essential. Create a strategy for managing your finances and keep a close watch on your income and spending to gain an accurate understanding of your monetary transactions. This endeavor assists in identifying possible areas for financial conservation and equips you with the knowledge to make informed decisions regarding your funds as you near retirement.

Context

• Eliminating high-interest debt can provide more financial freedom and flexibility, allowing you to allocate funds towards savings, investments, or other retirement needs.
• Having fewer financial obligations allows you to build or maintain an emergency fund, providing a safety net for unexpected expenses.
• Smaller homes or homes in less expensive areas often have lower property taxes, which can significantly reduce annual expenses.
• Moving to a community with more social opportunities or support networks can enhance well-being and reduce the need for paid services or activities.
• Downsizing possessions can make living spaces more functional and easier to maintain, which is especially important as physical capabilities may change with age.
• The process encourages reflection on what truly holds sentimental value, allowing you to focus on meaningful possessions.
• Set clear financial goals for both the short and long term. This could include saving for travel, healthcare, or leaving a legacy for family members.
• Conduct regular reviews of your financial statements, such as bank and credit card statements, to ensure accuracy and to spot any unusual or unauthorized transactions.
• Be aware of the tax implications of withdrawing from retirement accounts, such as 401(k)s or IRAs, and plan withdrawals strategically to minimize tax burdens.

Embark on a new business endeavor or contribute your knowledge in a consultative capacity to expand your sources of income.

Benton encourages viewing your sixties as a starting point for new ventures, instead of an ending. If you're not quite ready to retire completely, consider exploring various ways to generate income through pursuits that ignite your enthusiasm. This might entail launching a personal venture, utilizing your extensive knowledge and skills to provide consultancy, or engaging in independent work within an area that has consistently brought you pleasure.

You might have a consistent fascination with hobbies like baking, crafting, creating written works, or photography. Channel your enthusiasm into a new avenue for generating revenue. Leverage digital marketplaces such as Etsy, Shopify, or various freelancing sites to display your talents and connect with a broader audience. Offering your expertise in a consulting capacity enables you to set your own work schedule and move forward at a comfortable speed, which can result in a fulfilling and lucrative pursuit.

Other Perspectives

• The concept of starting new ventures in later life may not resonate with those who have planned for retirement as a time for leisure and disengagement from work-related activities.
• Enthusiasm may wane over time, especially when a hobby turns into work, potentially leading to burnout or a decline in enjoyment.
• Not everyone has the entrepreneurial spirit or business acumen needed to successfully launch and run a personal venture.
• The unpredictability of income from independent work can lead to financial instability, especially if it's the primary source of income.
• There is a risk that the quality of the hobbyist's work may not meet professional standards, which could impact customer satisfaction and business reputation.
• Digital marketplaces often charge fees or commissions, which can reduce the profitability of your sales.
• The flexibility of consulting work can blur the lines between personal and professional life, making it difficult for some individuals to establish a healthy work-life balance.
• In competitive fields, a slower pace could result in being outperformed by competitors who are willing to work at a more aggressive speed.

Personal Growth and Relationships

This subsequent part emphasizes the significance of self-development and the cultivation of significant connections during the journey through one's sixties. Benton emphasizes the importance of prioritizing personal health and nurturing meaningful relationships as essential elements for a satisfying life.

Improve your general well-being and mental sharpness.

Benton emphasizes the importance of preserving both mental and physical health as you grow older. This entails giving precedence to wholesome routines, which include participating in consistent physical activity, consuming a nutritious diet, and ensuring adequate rest. Incorporate pleasurable exercises such as strolling, aquatic workouts, or rhythmic movement into your daily routine to preserve mental sharpness.

Consult with experts to preserve your psychological well-being. Therapy or counseling offers a secure and nurturing environment for emotional processing, managing life changes, and tackling individual obstacles that might confront you. Caring for your psychological health is just as important as looking after your physical health, and there's no shame in asking for help when it's needed.

Practical Tips

• You can track your daily habits with a color-coded calendar to visualize your physical and mental activity patterns. Use different colors for various activities like exercise, meditation, social interactions, and sleep. Over time, this visual aid will help you identify which habits you're consistently maintaining and which ones need more attention, allowing you to make adjustments to improve your overall well-being.
• Develop a bedtime ritual that signals to your body it's time to wind down, such as reading a book or practicing light stretching for 10 minutes before sleep. Consistency with this routine can improve your sleep quality and ensure you get enough rest. You might choose a specific relaxing playlist to listen to each night or use a scent diffuser with calming essential oils like lavender to create a restful environment.
• Turn your commute into an opportunity for exercise by getting off a bus or train stop early and walking the rest of the way to your destination. If you drive, park further away than necessary. This small change can add more steps to your day and can be a refreshing way to transition between work and home life, giving you time to clear your mind.
• Develop a 'Psychological Well-being Toolkit' by compiling a list of activities and practices that you find personally beneficial for your mental health. This could include mindfulness exercises, journaling prompts, a playlist of calming music, or a list of motivational podcasts. Whenever you feel stressed or overwhelmed, refer to your toolkit and choose an activity to help you regain balance. Over time, you can add or remove items from the toolkit as you discover what works best for you.
• Develop a "change readiness" checklist for managing life transitions, which includes proactive steps like researching, planning, and seeking support. When facing a significant change, such as a career shift or a move to a new city, use the checklist to assess your preparedness and identify areas where you might need professional guidance to navigate the transition smoothly.
• Schedule a "mind-body bridge" activity into your daily routine, such as yoga or tai chi, which combines physical movement with mindfulness to enhance both physical and psychological well-being. These activities can help you become more attuned to the connection between your mental and physical states, potentially leading to greater overall health and awareness.
• Practice micro-requests daily by asking for small things that you would normally hesitate to ask for, like borrowing a pen, asking a neighbor for a cooking ingredient, or requesting feedback on a project. This helps to gradually build your comfort level with asking for help and normalizes the act of reaching out in your daily routine.

Cultivate connections that enrich your existence and let go of those that cause harm.

Upon entering your sixties, Benton suggests assessing your social connections and concentrating on cultivating those bonds that yield joy and backing. Forge lasting bonds with your significant other, children, and grandchildren through the creation of shared experiences and traditions that will become cherished memories. Cultivate frequent engagement and create common memories that will strengthen these relationships.

Navigating interactions that drain your vitality and negatively impact your health is essential, particularly when setting and acknowledging limits. This could involve setting boundaries with people who consistently affect you negatively or choosing to distance yourself from relationships that no longer contribute positively to your health and happiness. Prioritize your mental well-being by nurturing connections with people who offer encouragement and a positive presence.

Practical Tips

• Initiate a monthly "new memories" gathering with friends or family members you want to strengthen bonds with. The goal is to create fresh, positive experiences together. You could rotate who chooses the activity, ensuring that everyone's interests are represented, which can range from a simple potluck dinner to trying out a new hobby together.
• Start a shared digital scrapbook with friends or family to compile photos, notes, and memories from your interactions.
• Establish a "no contact" or "minimal contact" rule for identified energy-drainers by setting specific days or times when you will not engage with them. For example, you might decide not to answer calls from a particular person after 8 PM or to limit meetings with them to once a month.
• Establish a "relationship budget" where you allocate a certain amount of time each week to spend with people who add value to your life. Treat your time like a currency and invest it in relationships that have a positive return on investment, reducing time spent with those that don't.
• Start a 'good vibes' group chat with friends or family members who are known for their positive outlook. Use this chat to share good news, motivational quotes, or funny anecdotes. This keeps you connected with positive influences daily and can serve as a quick pick-me-up when needed.

Make a meaningful contribution to society that has a deep and enduring effect.

Benton underscores the fulfillment that comes from making a positive impact on society and creating an enduring, beneficial legacy within your local surroundings. Engaging in philanthropic activities that resonate with your values not only offers support to those in need but also cultivates a feeling of satisfaction and meaning in your life. Explore the possibility of donating your time to a local hospital, public library, sanctuary for wildlife, or any group that aligns with your interests.

Imparting your wisdom and life lessons to the coming generations can contribute to creating an enduring legacy. Document your life's journey and insights through writing, audio recordings, or video for your loved ones to treasure. Construct a genealogical chart to preserve and share your forebears' rich history with future descendants. Subsequent generations will hold these gestures of commemoration in high regard.

Practical Tips

• Start a hobby that creates tangible goods for donation, like knitting or woodworking. By doing so, you can donate the items you make, such as scarves for the homeless or birdhouses for community gardens. This approach allows you to enjoy a fulfilling pastime while producing items that can directly benefit others.
• Initiate a 'Volunteer Day Swap' with your employer or colleagues. Propose a day where you and your coworkers volunteer at a local organization instead of working. This not only provides valuable manpower to the organization but also fosters team-building and community engagement. Coordinate with your HR department to ensure this aligns with company policies and to potentially establish it as a recurring event.
• Start a yearly family history trivia game at family gatherings, using facts and stories from your genealogical chart. This fun activity can help family members learn about their ancestry in an interactive way and reinforce the connections between present and past generations.

Investigating fresh vocations and areas of keen interest.

This section of the book encourages you to view your sixties as a chance for discovery and continuous growth in both your personal life and professional pursuits. Benton emphasizes that individuals of any age have the capacity to start new ventures, learn new skills, and contribute significantly to their local community.

Consider embarking on a different career path.

Reaching the age of 60 doesn't signify the conclusion of your professional ambitions, as Benton suggests. Now might be an ideal time to evaluate your career path and decide whether it still aligns with your goals and ambitions. Seize the chance to transform your life and find satisfaction or chart a fresh course.

Engage in pursuits that ignite your passion, even if it means stepping outside your usual zone of ease. Perhaps you've always dreamed of starting your own business, pursuing a career in a different field, or sharing your expertise through consulting work. Embrace the chance to shape a profession that yields joy and contentment. Age is simply a numerical value, and individuals have the freedom to chase their dreams at any point in their lifespan.

Context

• Many industries are experiencing skill shortages, and older workers can fill these gaps with their expertise and willingness to learn.
• Assess your financial situation to determine if a career change is feasible. This includes understanding the potential financial implications of starting a new career or business.
• Leveraging existing professional networks or building new ones can be crucial in successfully transitioning to a different career path.
• This stage of life can be an opportunity to explore creative outlets such as writing, painting, or music, which can be both rewarding and therapeutic.
• Evaluate whether you need to acquire new skills or knowledge related to your business idea. This might involve taking courses or attending workshops.
• Exploring how a new career aligns with personal values and interests can enhance overall life satisfaction.
• Consultants have the opportunity to make significant impacts on organizations by providing strategic advice and solutions to complex problems.
• Embracing new technology is often necessary when changing careers. This might involve learning new software, understanding digital communication tools, or adapting to remote work environments.
• Many people are living longer, healthier lives, which allows for extended periods of productivity and personal growth beyond traditional retirement age.

Explore the opportunity to shadow an expert in a domain you've consistently admired.

Should you feel an attraction to a particular profession yet have reservations about making a major change, Benton suggests finding opportunities to closely shadow an expert in that field. This allows you to fully engage with the responsibilities associated with the position, observe the daily tasks, and determine if they align with your interests and skills.

Engage with professionals in your vicinity or within your circle of contacts who hold positions that intrigue you. Many people are eager to share their knowledge, offering crucial insights and viewpoints for contemplation by others. Pausing for reflection can provide crucial understanding that will guide the course of your future career path.

Other Perspectives

• Experts may not always be the best teachers; observing an expert could be less beneficial if they lack the ability or willingness to communicate their knowledge effectively.
• Shadowing or engaging with a professional does not substitute for actual hands-on experience in the field, which is often necessary to make an informed career decision.
• Shadowing and networking often require a significant investment of time and resources, which may not be feasible for everyone, especially those with existing job commitments or caregiving responsibilities.

Pursue lifelong learning and personal development.

According to Benton, learning doesn't stop at retirement. Embrace the opportunity to expand your knowledge, explore new subjects, and dedicate yourself to lifelong learning as you begin this fresh phase of your life. Seize the opportunity to enrich your knowledge by enrolling in courses offered by nearby community colleges or centers.

The internet offers numerous opportunities for digital learning across a wide variety of topics to delve into. Explore the vast selection of digital classes offered at little to no expense by prestigious schools worldwide. The key to preserving sharpness of mind and engagement is to constantly foster curiosity and to seek out new challenges actively.

Other Perspectives

• The pressure to continue learning after retirement could be seen as an extension of a work-centric culture that values productivity over personal contentment and rest.
• Financial constraints can limit the ability to access certain educational resources, even if they are low-cost, as any expense may be significant for those on a fixed income post-retirement.
• Not all learning has to be structured or formal; some may argue that informal learning through life experiences can be just as valuable and should not be overlooked in the pursuit of lifelong learning.
• The pace of a community college course might be too fast or too slow for some learners, which could lead to frustration or disengagement with the learning process.
• The quality of online courses can vary greatly, and it can be difficult for learners to discern which courses are reputable and will provide valuable knowledge or skills.
• Some topics may not be effectively taught online and may require physical presence, such as those involving lab work or practical training.
• Some individuals may find that self-paced online learning lacks the motivation and structure provided by traditional classroom settings, which can lead to lower completion rates.
• Some individuals may find that too much new information or constant engagement can lead to information overload or burnout, which can be counterproductive to mental sharpness.
• Some people may find greater satisfaction in deepening their expertise in familiar areas rather than constantly pursuing new challenges.

Initiate a digital platform for knowledge exchange, such as producing articles or video materials, or think about imparting your expertise through instructional classes.

Elaine Benton stresses the significance of cherishing and disseminating the accumulated knowledge and skills acquired over time. Impart your knowledge and skills by conducting a seminar or facilitating an educational session. This could involve teaching at a community center, local library, or even offering online courses.

Initiate your personal online journal or video log as a means to disseminate information and foster connections with people. Share your passion, expertise, and abilities by producing content in written or video form, which can broaden your influence and possibly build a network of people who share your passions and pursuits. These platforms not only act as channels for artistic sharing but also cultivate relationships between people who share common passions.

Practical Tips

• Start a peer learning group where each member presents on a topic they're passionate about. This encourages knowledge sharing in a low-pressure environment and allows you to learn from the diverse experiences of your peers. For example, if you're interested in gardening, you could share tips on plant care while another member might offer insights into digital photography.
• Use a social media management tool to schedule regular posts or updates to your online journal or vlog. This ensures consistency, which is key to building a following. You can plan out your content calendar for a month, with specific themes for each week, and use analytics to track which topics engage your audience the most.
• Collaborate with a peer to create a content series that combines both of your expertise. Find someone with complementary skills or knowledge and propose a joint project, such as a podcast series or a sequence of blog posts. This partnership can double your reach and provide a richer experience for your audience.