Happy New Year! Just a quick thought today on doing (i.e. taking more at bats). One of the biggest retirement mistakes I see people make has nothing to do with money. It’s that they constantly defer their dreams. They just don’t do stuff. Everything is “someday” this and “someday” that. And I totally get it. It’s hard to decide what you really want out of life. It feels risky to put yourself out there to try stuff. But you absolutely have to do it.
The best advice I can give you for 2020 and beyond is to start
taking some at bats. Right now. Even if you’re not retired. Especially if you’re not retired. The worst that can happen is that things
don’t work out, you get rolled a little bit, so you dust yourself off and try
something different. Ironically, that’s
also one of the best things that can happen.
Because that failure is feedback.
It turns out we’re pretty terrible at knowing what’s going to make us
happy. The more stuff you try, even if
you don’t end up liking it, the better idea you’ll have of what’s important to
you, who’s important to you, what you like, what you dislike, what makes you
happy and what you’re passionate about.
All of those things help you understand yourself and they make
you more self-aware so you can design a life that takes you where you want to
go. Finding out that you actually hate
to travel or you stink at gardening or golf is awesome. That means you won’t waste any time or money
on those things during the prime of your retirement. Instead you can triple down on the things
that you do care about.
So start taking some at bats today. Get out there and try stuff. Take a trip.
Pick up a new hobby. Learn
something new. Meet new people. Challenge yourself. Get outside your comfort zone. Sure, you might strike out a few times. But you’ll get better. You’ll figure out what you really want out of
life and you’ll be doing something about it.
And that’s what living an intentional retirement and an intentional life
is all about.
As you enter retirement, the temptation to do nothing can feel pretty strong after years of drinking from the fire hose of daily life. Unfortunately, doing nothing is not a good strategy for long-term fulfillment. It can be rejuvenating for a while, but it will get boring.
Your goal should not be to do nothing. It should be to do what excites you. If you’re feeling spent and burnt out, by all means take some time off and recharge your batteries. But after that, you need a plan that will keep you challenged and provide meaning and fulfillment. You need something that will help you stay active and use your gifts.
During your working years, that “something” was, to one degree or another, your vocation. Your job. That thing you did every day between 8 and 5 in exchange for money. But most people jettison their job once they retire. And when you subtract things—work, obligations, commitments—you create a void in your life where those things once were. That void can open you to self-doubt, regret, lack of purpose and boredom. The solution? If you take something out, you need to replace it with something else.
What is that something else? Leisure has a role to play (travel, relaxation, sipping mojitos at the beach), but it isn’t enough. As someone once said: “Leisure is a beautiful garment for a day, but a horrible choice for permanent attire.” My suggestion? Replace your vocation with an avocation.
A vocation is something you primarily do for money. You do it because you have to. An avocation is something you do because you want to. Because you’re passionate about it and it gives you a sense of purpose. It often has all of the positive aspects of a job—challenge, learning new things, social interaction, purpose—with one important exception: you probably won’t get paid. That might sound like a bad thing, but it’s actually good. First off, in retirement you don’t need the paycheck. That’s being handled by your portfolio and other sources of income (pension, Social Security). Second, when you remove the pay requirement, it opens the door to almost any hobby, activity or pursuit you can think of. If I had to feed my family based on my ability to create and sell paintings, we’d all starve. Remove the financial constraints, however, and I can paint for the pure enjoyment of it. I can take as long as I want to learn, practice, grow and develop without the pressure to monetize it.
History is replete with examples of people who pursued both vocation and avocation. Copernicus was a cleric by day and astronomer by night. Sir Edmund Hillary paid the bills as a beekeeper, but you likely remember him for his avocation as a mountain climber and the first person to summit Everest. Franz Kafka was an insurance assessor, but you probably remember him as a writer. Tolkien was a philologist, but you probably remember him for his novels. Harrison Ford pays the bills as an actor, but he moonlights as a pilot and a carpenter.
How about you? What would you do if money weren’t an object? If getting paid wasn’t a precondition? Not sure? Test some things out. Start experimenting. Maybe you want to go back to school or start a second career. Maybe you want to volunteer or start a small business. Maybe you want to learn to bake, paint, cook, collect something, write, garden, take photographs, draw, birdwatch, make pottery, scrapbook, sew, play a musical instrument or do woodworking. Maybe you want to become an amateur dietician, actor, archeologist, beekeeper, computer coder or songwriter. The possibilities are endless.
Again, the goal is not to do nothing. That just creates a void. The goal is to do what excites you. Yes, you may look forward to the day when you can quit your job, but just because you don’t want to work 60 hours a week anymore, doesn’t mean that you don’t want something that will give you satisfaction and a sense of accomplishment. If you want your retirement to be remarkable, have a plan to replace your vocation with an avocation.
I’m a big believer in the benefits of reading so I usually have a reading goal each year. In 2017, my goal was to read every book, short story, poem and play by Ernest Hemingway. A few years ago, I set a goal to read 500 books between age 40 and 50.
I’m guessing many of you enjoy reading as well, so if you’re looking for a few book ideas for 2018, I created a page on Intentional Retirement with a list of everything I’ve read over the last five years. I’ll keep it updated going forward, so feel free to check back periodically. It contains a pretty eclectic mix, so there’s something for everyone. And if you have an idea or two for me, please send them my way.
As always, thanks for following along. Have a great weekend!
Jeff Bezos became the richest person in the world last week. In a little over 20 years, the founder of Amazon.com went from no money (or very little) to more money than anyone. Warren Buffett once called him “the most remarkable business person of our age.” That’s like Michael Jordan calling you the best basketball player or the Dos Equis guy crowning you “world’s most interesting person.” I’ve followed Bezos over the years and thought I’d share a few things we can learn from him about life and retirement.
You can accomplish a lot in a short amount of time. Someone once said that we tend to overestimate what we can accomplish in a year and underestimate what we can accomplish in ten years. Bezos started Amazon in 1995. That’s not that long ago. I remember what I was doing in 1995. I’m guessing you do too. In that short span he’s built a revolutionary company with hundreds of thousands of employees and transformed giant swaths of the economy. Most people spend about 20 years in retirement. I just went to the funeral of a friend who died at 102. He was retired for 40 years. That’s plenty of time to do some interesting things. No one expects you to start a billion-dollar company, but you don’t just need to ride off into the sunset either. Yes, you can relax and enjoy life, but you also have plenty of runway to take on projects or challenges that give fulfillment, meaning and purpose.
Be stubborn on vision, but flexible on details. That’s how Bezos describes the leadership team of Amazon. They have an uncompromising vision for the company, but they are flexible and willing to try new things to make that vision a reality. That same strategy works great when planning for and living in retirement. Know what you want out of life. Stay true to your vision and values, but when opportunities present themselves take advantage of them. Or when things don’t develop exactly how you anticipated they would, don’t be afraid to change up your tactics.
Experiment. Amazon Prime, Amazon Web Services, the Kindle, Echo and Alexa all started out as small experiments. Bezos and his team are constantly experimenting and making small bets. Some of those fail, but some are wildly successful. The more things they try, the greater the odds that they’ll hit on something big.
Take a page from that playbook. Don’t be afraid to experiment. I have a client who took up golf when he retired, but quickly realized it wasn’t for him. Rather than getting down when things didn’t come together as anticipated, he started experimenting with a bunch of different activities. What did he settle on? Beekeeping. That’s right, he now keeps thousands of bees, rents them out to farmers for pollination and packages and sells their honey. It’s now a huge part of his days in retirement and he would have never discovered it without a willingness to experiment. And while we’re on the topic of experimenting…
Be inventive. All of those experiments usually lead to inventions and innovations. The Amazon of today looks very different than it did at the beginning. The same should be true of your retirement. Don’t spend 20 years in a rut. Iterate, create, grow and evolve. That growth and change won’t happen automatically. You need to experiment and invent. As I said recently: You don’t find yourself. You create yourself.
Invest in yourself. The knock against Amazon from day one has been that it doesn’t show a profit. But the reason it doesn’t show a profit is because a) it charges low prices so it can gain new customers and grow the business and b) it reinvests every dime it makes back into the company to help it grow faster. All of those experiments, inventions and innovations cost money. The payoff has been huge, but it wouldn’t have happened without a willingness to invest in them. Warren Buffett once said that the most important investment you can make is in yourself. In retirement, you have time and money. How can you invest those in ways that enrich and improve you and your life?
Keep a “Day 1” mindset. Bezos works in a building named “Day 1.” It’s a reminder to him and his team that they always want to act with the same energy, focus and willingness to try new things that they had on Day 1 of the company. Someone recently asked him what Day 2 looks like and he said “Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1.”
We’re all going to die, so it will eventually be Day 2, but a life that has purpose and meaning is generally incumbent on keeping a Day 1 mindset as long as possible. It’s characterized by a willingness to take risks, try new things, build relationships, invest, act and work towards some greater purpose. In retirement, it’s tempting to ease off the throttle and orient your life around comfort and security rather than purpose and meaning. There’s nothing wrong with a little R&R, but keep your Day 1 mindset as long as possible.
Use a “regret minimization framework.” Before starting Amazon, Bezos had a great job at a wall street firm. All he had to do was keep showing up for work each day and he’d be set. But he saw how quickly the internet was growing and felt a pull to get involved. As he pondered the decision he wondered which course would result in the fewest regrets when he was 80. He called this his regret minimization framework (You can tell he is a computer science grad). He didn’t think he’d regret leaving a job, because he could always find another job. Leaving mid-year meant giving up his annual bonus, which was a big deal to him at the time, but he didn’t think his 80-year-old self would be concerned about it. He didn’t think he’d regret trying the internet business and failing because then he’d just get another job. The one thing he felt he’d really regret would be not trying and always wondering what could have been. It’s the old Mark Twain quote. We don’t regret the things we do as much as the things we don’t do.
So as you think about your life and how you want to spend it, use a regret minimization framework. What actions and decisions will result in the least amount of regret for your future self? Pursue those things. Yes, it might be scary, but it will ultimately result in the greatest level of happiness and fulfillment.
Note: Retirement is more than just a math problem. Yes, money is important, but you need meaningful activities and relationships too. When money and meaning intersect, you have the chance for something special. With that in mind, I’m starting a new periodic series called “aMUSEments” that will focus on a particular trip, activity, idea or adventure. Each article will be packed with links and resources to help you dream, plan and do. I hope they act as a muse to stir your imagination and help you plan your own adventures. Enjoy!
America’s Best Idea
Writer and historian Wallace Stegner called the national parks “the best idea we ever had. Absolutely American, absolutely democratic, they reflect us at our best rather than our worst.” Filmmaker Ken Burns summarized this sentiment when he named his wonderful national parks documentary “America’s Best Idea.”
With spring in the air, now is the perfect time to begin planning an adventure in one of the parks. Incidentally, I’m eating my own cooking on this recommendation. In about a month, I’m heading to the Grand Canyon to hike it from one side to the other and back again. Rim to Rim to Rim. My family and I will also be hitting a few of the other parks this year to do some hiking and camping. Assuming I survive the GC, I’ll let you know how it goes.
What they are
There are 59 national parks that cover 51 million acres in 27 states and two U.S. Territories. They contain some of the most beautiful scenery and natural wonders anywhere in the world. The first National Park was Yellowstone. It was signed into law by President Ulysses S. Grant in 1872. President Theodore Roosevelt established more national parks (5) than any other president. California has the most (9) and Alaska has the biggest (Wrangell-St. Elias) as well as the least visited (Gates of the Arctic). The most visited parks are the Great Smokey Mountains and the Grand Canyon.
It’s fun to visit exotic, far flung places, but let’s not forget that we have some pretty incredible places right here in the United States and the national parks are the crown jewels of that collection. They are relatively inexpensive to visit and because they’re spread out across the states there is a variety and selection that is tough to beat.
This year is the 100th anniversary of the National Park Service. There will be special programs at the different parks to celebrate the milestone and there will be 16 days where entrance fees will be waived in order to encourage people to visit. Throw cheap gases prices in the mix and this is the perfect year to plan a road trip to one or more parks.
Why retirement is the ideal time to visit
Retirement is the ideal time to visit the national parks. Why? For starters, you can get a lifetime annual park pass for $10 once you hit age 62. That same pass is normally $80 per year. Also, because you have a flexible schedule during retirement, you can visit the parks during the off season when things are less expensive and there are few crowds. Finally, there tons of volunteer (or even employment) opportunities geared towards seniors.
If you’re planning on visiting a few parks each year, it’s probably cheaper to buy an Annual Park Pass. The pass is normally $80, but is only $10 for a lifetime pass for those 62 or older and free for current members of the military. In addition to the pass, some parks require you to apply for permits if you plan on camping or staying in the backcountry. You can find specific requirements at the NPS website for the park you’re considering.
Best time of year to visit
This depends on the park, of course. If you’re visiting Death Valley, best to go January through March before the heat becomes unbearable. If, on the other hand, you’re heading to Glacier National Park, go in June when the weather is warming and the park is in bloom. Just Google “best time to visit <park name>” or visit the park’s official website to get recommendations on the best time to visit. In my opinion, the worst time to visit many of the parks is when the weather is the hottest and the crowds are the biggest. That means June and July for most parks when school kids are on summer break. Thankfully, one of the benefits of retirement is the flexible schedule so you can avoid peak crowds and visit in the shoulder seasons (just before or after peak season). September and October are often ideal months because the crowds have gone and the weather is mild.
What to do
Each park has a unique list of things to do and see like Old Faithful in Yellowstone, Half Dome in Yosemite, giant Redwoods in Sequoia and the Grand Canyon in…well…the Grand Canyon. In addition, there are plenty of other activities in the parks like hiking, camping, horseback riding, rafting, spelunking, snorkeling, kayaking, fishing, swimming, rock climbing, wildlife watching, sandboarding, hang gliding and leaf peeping. There is an embarrassment of riches when it comes to things to see and do.
Most of the official park websites have Trip Planner pages. Just visit the NPS site for the park you want to visit and look for the link that says something like “Plan your visit” or “Trip Planner.” Here’s the Trip Planner page for the Grand Canyon so you can see an example.
Can I take my pet?
Most National Parks don’t allow pets, but there are some parks that do. Acadia (Maine), Shenandoah (Virginia) and Cuyahoga Valley (Ohio) have hundreds of miles of hiking trails open to you and your pet. Other parks, like Yosemite and the Grand Canyon, don’t allow pets in certain areas of the park, but do have limited trails or other parts of the park where you can take your pet as long as they’re on a leash. If you want to take your pet, do some research before you go. The NPS website for each park lists their official pet policy.
There are thousands of videos online about the national parks, but I wanted to highlight a series by Jim and Will Pattiz called More Than Just Parks. They are brothers and filmmakers and have set a goal to create a short film using time lapse photography for each of the national parks. The videos are amazing. Click on the Zion video for starters. That 4 minute video will do more to convince you to get out and enjoy the parks than anything I could ever say.
If you’re thinking of visiting a park you might want to pick up a book or guide to help supplement the information you get from the park’s website. Lonely Planet makes great guide books and they have guides designed for many of the parks available at Amazon. Also, on April 19 they are publishing National Parks of America: Experience America’s 59 National Parks. It will be packed with photos as well as information, tips and sample itineraries for all 59 parks. If you’re looking for amazing photos, Ansel Adams in the National Parks is also a great option.
There is a new IMAX film called National Parks Adventure that is narrated by Robert Redford. It not only provides a history of the parks, but follows modern day adventurers as they explore some of the best things the parks have to offer. Here is a list of cities and theaters where the film is playing.
As I mentioned earlier, Ken Burns has a wonderful, six part documentary on the parks. It used to be available for streaming on Netflix, but I don’t see it there currently. You can try checking out a copy from your local library or it’s available for purchase at Amazon if you’d like to buy a copy.
Note: This post is part of a weekend series I’m doing throughout 2015 that is focused on fun things to do (or learn) during retirement (i.e. bucket list items). I hope you enjoy them and use them as inspiration for your own adventures. Congrats to Dennis from our email subscribers who was the winner of this week’s giveaway. There’s an iTunes gift card on the way to your inbox Dennis. Feel free to use it toward the purchase of the time lapsing app discussed below.
Have you ever watched one those cool time lapse videos and asked yourself “I wonder how they did that?” Me too. So I added “learn to time lapse” to my bucket list. Time lapse is one of those things that has become infinitely more approachable with the advent of apps and the smart phone. Making a time lapse used to involve complicated and expensive equipment (which you can definitely still use if you want to make super high quality videos), but now just about anyone can make a cool time lapse video with equipment they already have in their pocket. Here’s an easy guide on how to make time lapse videos with your smart phone.
What is time lapse?
Before jumping in, let’s explain what time lapse is. Many people incorrectly assume that time lapse is just shooting a video and then speeding it up. In actuality, time lapse is a series of still photos that are strung together and played back to create a moving sequence. What makes it interesting is that the rate at which the photos are played back is faster than the rate at which they were captured. This allows you to see movement that your eye wouldn’t normally pick up on. For example, you could take a picture of clouds every 10 seconds and then play those pictures back at 30 frames per second and you’d see the clouds rapidly changing and moving across the sky.
What equipment do you need?
For beginners, all you should need is your smart phone, a tripod and an app to help you sequence and render the photos. The app I use is Lapse It, which is available for both iPhone and Android. (Note: Some smart phones like the iPhone have a time lapse setting, but it doesn’t allow you to control any of the settings, so I prefer to use the app). If you already have a tripod, you’ll need an adapter that will hold your smart phone.
Step 1: Compose the photo
One of the key benefits of time lapse is movement, so when composing your shot, you want to look for things with some sort of movement (e.g. clouds, sunrise, tides, traffic, etc.). Your camera needs to be still while taking the photos, so find an interesting scene, set your camera up on the tripod and you’re ready to go. Note: Try to set up your camera where people won’t be walking in front of it (unless people are the subject of your time lapse).
Step 2: Adjust the settings
Once you’re camera is set up, you’ll need to set the frame rate. That is the number of seconds (or minutes) between each photo. Lapse It allows you to easily adjust the frame rate based on what you’re trying to capture. If something is moving relatively quickly, you can set your frame to capture a photo every few seconds. If it’s moving more slowly (sunrise for example), you can set your frame rate to capture a photo every 10-15 seconds.
Step 3: Take the photos
Once you’ve chosen your subject, set up your camera and adjusted the settings, just hit the “capture” button to start taking photos. At this point you can sit back and relax, because it can take a bit to get enough photos for the video. For example, if you plan on playing photos back at 30 frames per second and you want a 30 second video, then you need 900 photos. If you’re taking a picture of clouds every 10 seconds and you want to take 900 photos, then you need to take photos for 2.5 hours.
Step 4: Render the images
Once you’ve taken all the photos you need, just hit “stop” and Lapse It will automatically bring up the settings for rendering the final images. This is where you can choose the playback speed, add music or filters, trim the video, etc. Each time you adjust a setting, you can play back the sequence to see what your final video will look like. When you have it like you want it, just hit “render” and Lapse It will complete the project. Once it’s done you can save the video to your camera roll or share it to social media like Instagram or Facebook.
The final product
What does the final product look like? I was in Belize a few weeks ago and took a quick time lapse of the sunrise. I’ll put it below, but if you’re reading this post in your email, you may need to visit Intentional Retirement to actually watch the playback. I’m still learning the ropes myself, so this isn’t the best quality in the world, but you get the idea. Now you can give it a try yourself.