BoomerVille: Can You Get a Second Chance?

The retired don't need a survey like the recent one from Schroders to have confirmed that their financial situation is getting scary. Inflation, medical expenses and fear of a stock market crash have pushed them into fearing they will outlive their money. Only 4% experience being retired as living the dream.

Meanwhile, the worried fret there is no "second chance" for shoring up their financial situation. If that is how you feel you might be caught in a doom loop. But, no, you don't have to tumble into that abyss. 

There are second chances. 

A number of retirees have come to me for coaching about how to re-enter the labor market. Those willing to dumb down their resumes and how to present themselves do land full-time/part-time jobs and gigs. The dumbing down includes:

Leaving off job search materials all academic degrees beyond the BA. The exception will be formal education related directly related to job duties. For example, you apply to be an adjunct at the university teaching exposition. Yes, include that PhD in rhetoric. 

Focus on that specific job. No one wants to hear what you used to do and how well you did it. How can you do this job better, cheaper and faster than others applying for it. 

Refrain, unless asked, from providing insight how the organization can improve operations. That's a red flag you won't adjust to doing the job you are paid to do. And you might not stay since you seem to expect to handle more responsibility.

How about starting a micro enterprise? That's becoming downright standard. About 30% in their 70s and 27% in their 80s are entrepreneurs.

Another shot at a second chance is to consider relocating from a HCOL (high cost of living) area to a LCOL (low cost of living) one. Yes, the latter still exists. 

For example, Conway, Arkansas is a college town with a population of nearly 74,000. So much free to do. Renting can go for about $800 a month for a one-bedroom. 

Recently Wichita, Kansas has been anointed as the second most affordable city in the US. 

There are plenty of cities and small towns in Ohio which are downright bargains. In Toledo, typical are one-bedrooms including water, sewer, trash, heat and air-conditioning for under $800.

A third do-over is reframing pleasure points. 

Sure, you can still travel. But make the explorations day trips, not involving motels. Pack your own food. Broadcast on YouTube or TikTok about the unique journeys and that could be a new source of income. What did you discover as special in winter at Geneva on the Lake in Ohio?




Another restructured source of joy can be how to entertain. Return to your youth, configuring the fun as BYO, that is, bring your own food and alcohol. What's important is sharing companionship.

As for the diversion of shopping, hit the thrift and consignment shops. A goal could be to get up to speed on which ones really do provide quality merchandise at the best prices. Do a podcast on the niche of bargain-hunting. 

A fourth is to eliminate the expense of car ownership. For a year that could be almost $12,000. You could relocate to an affordable city such as Pittsburgh, Pennsylvania with a first-class transportation system. And/or you can sell the car and shift to an e-bike. If you assume you can no longer tool around on two wheels there are three-wheel options. That is the etrike.



On Amazon etrikes can be purchased for about $700. Your local bike shop also stocks them. You can keep them indoors, insure them as "personal property" with a firm such as State Farm and get a subscription for towing. Flats happen, even with tires which are supposed to be flat-resistant. 

So, yes, you can figure your way out of financial angst. Remember how you saw money differently when you decided you were going to buy a house. Overall, you adjusted spending and saving patterns. And you got that house. Right now you can also get peace of mind about your financial state of being.



Careers? So Over. It’s about Earning a Good Living. No matter what.

Complimentary consultation. No Pressure. Street-smart Guidance. Contact Jane Genova janegenova374@gmail.com.





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