Retirement from School Libraries by Mark Williams

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Presentation by Mark Williams on Retirement options for School Library types. Presented at CSLA Southern Section Workshop, March 26th, 2011

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Retirement from School Libraries by Mark Williams

  1. 1. Navigating To A New Life: RETIREMENT!
  2. 2. Two Aspects Financial Psychological/Emotional
  3. 3. FINANCIAL
  4. 4. 332.024 <ul><li>Tons of retirement planning books, nearly all of which deal with finances exclusively. </li></ul><ul><li>BTW, I am NOT a financial advisor! </li></ul>
  5. 5. The BIG 4 <ul><li>It's never to early to start </li></ul><ul><li>Save, save, save! </li></ul><ul><li>Don't put all your nest eggs in one basket </li></ul><ul><li>If it sounds too good to be true... it is! </li></ul>
  6. 6. STRS Is Your Friend <ul><li>http://www.calstrs.com </li></ul><ul><li>Many tools to help you plan the financial aspects </li></ul><ul><li>Can be customized </li></ul>
  7. 7. CalSTRS Workshops: Call to make an appointment or register on line <ul><li>Demystifying CalSTRS: Ideal for early career educators </li></ul><ul><li>CalSTRS Fundamentals: Designed for educators 10 to 15 years away from retirement. </li></ul><ul><li>CalSTRS Retirement Check-Up: Intended for educators three to five years away from retirement. </li></ul><ul><li>Retirement Income Management: Vital for CalSTRS members age 45 and older, and retired members interested in developing a post-retirement plan. </li></ul>
  8. 8. Retirement Option Selection <ul><li>Irrevocable... except in these cases </li></ul><ul><ul><li>Death of beneficiary </li></ul></ul><ul><ul><li>Divorce </li></ul></ul><ul><ul><li>Change from 3 rd party to spouse or partner </li></ul></ul><ul><ul><li>Marriage or partnership post-retirement </li></ul></ul>
  9. 9. The On Line Retirement Calculators <ul><li>Your retirement benefit is based on a formula, not how much you contribute or the performance of CalSTRS investments. Five calculators are available to help you plan your retirement. </li></ul><ul><li>The most helpful will be the Member-only Retirement Calculator </li></ul>
  10. 10. Use Other Retirement Calculators <ul><li>https://basic.esplanner.com </li></ul><ul><li>www.myretirementpaycheck.org </li></ul>
  11. 11. Psychological / Emotional Aspects
  12. 12. “ No one arrives at the pearly gates saying 'Damn, I should have finished that report to the principal'. They say things like 'I should have spent more time with my partner.' or 'Why didn’t I go to Spain like I always planned?' Don't be afraid to retire. Enjoy your time. You deserve it.”
  13. 13. Quitting All Work is a Myth <ul><li>...and it's bad for you, mentally and physically! </li></ul>
  14. 14. “ If you rest, you rust.” <ul><li>Helen Hayes </li></ul>
  15. 15. Life is a Balance <ul><li>Work and Leisure </li></ul>
  16. 16. Early Retirement? Take Note <ul><li>+ Health and Time </li></ul><ul><li>- Guilt, Perceptions, Friends, Money </li></ul>
  17. 17. Men, Take Note <ul><li>Problems often come if the man retires first </li></ul><ul><li>Women's careers are often peaking as men's are winding down </li></ul><ul><li>Men's self-worth is often more connected to the job than women's </li></ul>
  18. 18. What Are Your Dreams For Retirement?
  19. 19. The 5 <ul><li>Volunteer </li></ul><ul><li>Continue Your Education </li></ul><ul><li>Work Part-time </li></ul><ul><li>Travel </li></ul><ul><li>Hobbies </li></ul>
  20. 20. Think Outside the Retirement Box
  21. 21. Retirement Will Inevitably Change How You Look At Life And The Way You See Yourself...
  22. 22. Take A Good, Long, Hard Look At Yourself...
  23. 23. Embrace Life, Not Money
  24. 24. Find Something You Are Passionate About
  25. 25. You Don't Have To Plan Every Minute <ul><li>But it helps to have a plan </li></ul><ul><li>(Use a pencil!) </li></ul>
  26. 26. Think Of Something You Failed At <ul><li>Is is time to revisit that? </li></ul>
  27. 27. Honor Your Eccentricity <ul><li>Being odd earlier gives you strength to do well later </li></ul>
  28. 28. Get A Dog! <ul><li>Or a cat... pets are good for you </li></ul>
  29. 29. Get A Mentor <ul><li>… or BE one! </li></ul><ul><li>(Successful) old farts know a lot </li></ul>
  30. 30. Join A Group <ul><li>Discussing hopes and fears can help you formulate a plan and feel less overwhelmed </li></ul>
  31. 31. Attend A Boot Camp <ul><li>Boot camps for new or about to be retirees are becoming more popular and widespread. They vary in price and quality, so do your homework prior to enrolling. </li></ul>
  32. 32. Thanks! <ul><li>Don't forget your handout </li></ul><ul><li>And may you have a LONG, HAPPY, and FULFILLING retirement! </li></ul>

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