Last year, the Today show celebrated Tao Porchon-Lynch for inspiring others with her verve for life. At ninety-six years of age, she is recognized by Guinness World Records as the oldest yoga teacher and still going strong. Yoga Journal quotes her as saying "I don't want to know what I can't do. I'm only interested in what I can do."
Mental Floss Magazine likewise inspired with its article entitled "10 People Who Switched Careers After 50 (and Thrived!)." Writer Ethan Trex waxed poetic about the accomplishments of seniors such as Colonel Sanders, Tim and Nina Zagat, Ronald Reagan and Laura Ingalls Wilder. Business Insider's Richard Feloni urged readers that it's never too late to follow one's dream, citing exemplars such as Vera Wang, Julia Child, Henry Ford, Grandma Moses and Taikichiro Mori in "20 People Who Became Highly Successful After Age 40."
Hollywood appears poised to convey a similar message about the advantages of wisdom and experience for those who are no longer twenty-one. In "The Intern," Robert De Niro plays a seventy year old widower who is not ready to retire. An ex-sales and marketing executive, his character joins a start-up company as an intern to the CEO and quickly grabs the hearts and minds of his younger co-workers. In "A Walk in the Woods," Robert Redford and Nick Nolte are septuagenarians whose characters are based on the bestselling book by Bill Bryson. They hike the Appalachian Trail, rekindle their friendship, evade grizzly bears and remember how nice it is to keep trying to challenge one's self. In "I'll See You In My Dreams," Blythe Danner discovers romance and purpose past sixty.
The implication seems to be that many individuals around the world prefer to keep working. According to the UK newspaper, the Daily Mail, "One in 20 people still have a job when they're over 70 - a figure that has doubled in the past decade..." USA Today's Rodney Brooks interviewed various individuals who extolled the virtues of never retiring, even though they could afford to stop working. In some cases, the goal was to try something altogether different.
George Burns "began a solo career when he was nearly 80." Although he missed his engagement to perform in London on his centennial birthday by a matter of months, he urged people to keep in mind that "You can't help getting older, but you don't have to get old."
With that truism in mind, one cannot forget that it takes money to:
- Retire early;
- Forego the salary and benefits of a steady job to tackle something new like start a company; and/or
- Live large on a fixed income only.
For some individuals, the gap between one's retirement piggybank and monetary requirements is a reason to return to the workplace or never exit in the first place. For others, there is a true passion to stay in the game, whether that entails work, volunteering or something else. Most people strive for the ability to choose. That in turn requires a commitment early on, and thereafter, to identify, measure and effectively mitigate retirement portfolio risks.