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Published on October 29, 2018

How to Change Your Life at 60 Years Old and Feel Proud of Yourself

How to Change Your Life at 60 Years Old and Feel Proud of Yourself

Ever heard the phrase 60 is the new 40? While that maybe an exaggeration, it’s meant to highlight the very real phenomenon of our ever increasing health and longer lifespans.

For the average person who turned 60 in 1970, they could expect to retire at age 64 and live to age 70.8. For someone who turned 60 in 2010, they can very easily work throughout their entire 60’s and expect to live to at least 78.7 years old.[1] With the advances in modern medicine, lower rates of smoking and generally healthier lifestyles, our active and productive years can expand well into our 70’s and beyond.

How we choose to use this “extra” time will be determined by our current situation and our priorities for the future.

For some, their 60’s are a time to kick back and relax. They have worked for 30+ years, lived below their means and diligently saved money for retirement. They may also have sold a successful business, or been able to retire from a (increasing scarce) job that had a good pension.

For others, the prospect of retirement isn’t even a thought. Whether it’s a case of financial reality or just the psychological need to be productive, a continuing presence in the workforce is a reality for more and more of the 60+ crowd.

So how to change your life at 60 years old and feel proud of yourself?

Changing Priorities in Your 60’s

For most us us, our priorities change as we get older. Living for parties and excitement, what use to be called “working for the weekend” slowly gives way to working on the weekend and eventually working towards retirement.

By the time we hit our 60’s, a lot of us are looking to slow down. Health issues, either our own, our spouses or parents often come into play at this time in our life. This combined with having (hopefully) grown children, a paid or nearly paid off home and bit of savings in the bank. This means that you can start to trade long hours and stressful work situations for a more flexible schedule and more leisure time.

The key to making a successful life change in your 60’s is being prepared for both the mental and financial challenges you are likely to face.

Understanding the Psychological Challenges

Any major life change comes with its own set of psychological challenges. When that change takes place in our 60’s. there are some very specific psychological issues to be aware of.

Some of these issues are apparent and we easily recognize them. For instance, we’ve all heard someone say “When I retire, I don’t know what I’ll do with all that time on my hands”. While other challenges are more subtle and harder to quantify such as depression and anxiety.

While not everyone suffers with all or even most of them, here are come common psychological issues to be aware of:

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Anxiety

Even positive life changes can cause our anxiety levels to increase. Humans are creatures of habit. We develop routines that make our lives predictable and we rely on that predictability to give us comfort.

Now imagine that after 30+ years of having a relatively stable and routine job, you suddenly retire, get sick, or find yourself out of a job. The routine that you have relied upon to give you a sense of normalcy is suddenly gone.

In humans, the natural response to any major life changing event is an increase in anxiety. Symptoms and severity will vary from person to person, but you should always expect your anxiety levels to increase with any major life change in your 60’s.

What can you do about it?

Establish a new routine to replace the old one, this is the reason we have hobbies!

Gardening, golf, tennis, volunteer work all can help to get you back into a comfortable routine.

Helpful hint: Pick a hobby that has both a physical and social component to it. Both physical and social activity will help to lower anxiety levels.

Depression

Even the most happy-go-lucky of us become susceptible to depression during a major life event. In fact, when retiring, changing careers or even striking out on a new business adventure, both anxiety and depression can go hand in hand.

You may find yourself with a lot of excess “nervous” energy that you would have used at your job to meet deadlines and get things done. On the other hand, you may find that you have no energy and all and it’s tough to even get out of bed.

While everyone experiences everyday or “normal” bouts of anxiety and depression, it becomes a problem when these episodes become severe, or last longer that a few days.

At that point, it turns into a serious life threatening situation. It’s recommended that a person seeks medical help if they experience any of the following symptoms:

  • Feelings of extreme sadness, emptiness or hopelessness that seem to envelop you.
  • Angry outbursts, irritability or frustration, especially over small or normally insignificant matters.
  • Loss of interest or pleasure in activities that use to give pleasure, such as sex, hobbies or sports.
  • Sleep disturbances, including insomnia or hypersomnia (sleeping too much).
  • General tiredness or malaise, so that even small tasks seem to take a lot of effort.
  • Unusual changes in appetite, rapid weight loss or gain.
  • Slowed or delayed patterns of thinking, speaking or body movements.
  • Constant feelings of worthlessness or guilt, fixating on past failures or self-blame
  • Trouble thinking, concentrating, making decisions and remembering things (more than normal).
  • Frequent or recurrent thoughts of death, suicide or suicide attempts.
  • Unexplained physical problems, such as back pain, headaches or stomach ailments.

Dealing with the Financial Challenges

There are very unique financial considerations to take into account when making a major life change in your 60’s.

Depending on your situation, you may find yourself having to come to terms with a completely new relationship with money. Whether retiring, changing careers or starting your own business, chances are your income is going to take a hit.

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Part of making a successful life change at 60 is anticipating and planning for these events so you don’t get blindsided. The following is a list of general recommendations that everyone in their 60’s should consider.

1. Get aggressive about paying off debt

Especially credit card debt, it’s almost always at a high interest rate and, without any tax advantages, it just makes all of your purchases more expensive.

So if you are still carrying balances on your credit cards every month, it’s time to get those paid off.

Start with the credit card that has the highest interest rate, and then work your way to the card with the lowest rate.

These tips on How to Nix Your Credit Card Debt in Less Than 3 Years can help you too.

2. Pay off the house

If your home isn’t paid off already, after paying off credit card debt, this should be the next goal. It’s much less stressful going into a situation where you’ll have less income if your house is paid off.

You’ll not only reduce your expenses by not having a mortgage payment, but you’ll also have the piece of mind that comes with knowing that your home isn’t going anywhere.

3. Make a budget

No matter what kind of change you make in your 60’s — career change, retirement or becoming a entrepreneur, both your income and expenses are going to change.

Things like the cost of commuting, wardrobe expenses, credit card and mortgage payments are likely to be reduced. You’ll still need to budget for things like home repair and maintenance (how’s the AC unit or the roof?). Car maintenance and even replacement.

And don’t forget about leisure and entertainment expenses, after all, we all need to enjoy life. As a general rule, 30% of your budget should be allocated to leisure and entertainment expenses.

4. Examine and re-adjust your investment portfolio

This is where a good financial planner comes in. While your earlier investment goals were designed to maximize the amount of money in your retirement account. At this point in your journey, the goals have changed to providing you an income for the rest of your life.

You also want to protect the principal from unnecessary risks so it lasts as long as you do. A good financial adviser can help you make the change from a growth orientated investment strategy into more dividend or income producing assets for your golden years.

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5. Consider a change of address

Depending on where you live, moving to a new state might make financial sense. High tax states not only can zap your resources faster than states with lower taxes, but can often times make you get much more “bang for your buck” by moving.

Things like housing, personal property, sales and gas taxes can all add up to a significant savings in a low tax state. Places like Texas, Arizona, Nevada and Florida all have an influx of people migrating from the higher tax states on each coast.

6. Reexamine your insurance needs

A good experienced insurance broker is your best asset when tackling this task.

Do you still need that disability policy to cover your mortgage in case you get hurt? Or could you take that money and buy an annuity that would give you some extra income? What about the cash value of your life insurance?

Walt Disney used the cash value of his life insurance to start Disneyland.[2] Even your car insurance needs to be reevaluated. You can often times save money through good driving and senior discounts as well as eliminating your commuter miles.

Talk to your insurance broker to maximize the benefits and minimize the costs of insurance.

7. Consider becoming an entrepreneur

Roughly 1/3 of people in their 60’s decide to strike out on their own and be their own boss. And why not?

Children are (usually) out of the house, household and credit card debt is likely to be low, most people have some savings by this point in their life and often times they are at the pinnacle of their career.

With the prospect of any further career advancement unlikely, many see this as the perfect time to start their own business.

Now ideally, if you’re going to start a business, you should start 2-3 years before you plan on retiring. This will give you a chance to become established, build your network and income stream all while maintaining the benefits of your current job.

But even if you didn’t start early, you can still become a successful entrepreneur, in fact, studies show that older entrepreneurs are generally more successful than their younger counterparts.

So don’t think that your too old to start something, many successful entrepreneurs started businesses later in life. People like Ray Kroc (McDonald’s), Harland “Colonel” Sanders (Kentucky Fried Chicken), Walt Disney, Charles Flint (IBM) and many more. The only person telling you that you can’t do it is you.

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It’s never too late to start your business! Here’s the proof.

8. Consider becoming a consultant

If you don’t feel the bite of the entrepreneur bug, but still want to stay connected and earn money. How about becoming a consultant?

After 30+ years working in an industry, you’ve built up a world of knowledge, contacts and experience. All of which is useful and has value.

Doing consulting work allows you to have control over your schedule and, once you are established, it can provide a significant source of income.

9. Get a part-time job for more than just the money

Both entrepreneurship and consulting can take a lot of time and effort, but picking the right part time job can cut your expenses and give you a little spending money.

What are your hobbies? Do you like to golf? Become a marshal on your local golf course. Most courses will pay you a modest hourly rate and let you golf for free.

How about gardening? A part time job at your local nursery will not only provide you with pocket money, but also a discount on plants.

Whatever your hobbies or interests, there’s a part time job out there for you.

Conclusion

Whether you are changing careers, starting a business or retiring, big life changes are by their very nature stressful.

The great thing about being older is that we have the advantage of experience. We’ve been though other life changing events and can anticipate some of the issues we’ll face.

Becoming well informed, getting prepared and making a plan will insure that you can change your life at 60 years old and feel proud of yourself.

Featured photo credit: Ian Schneider via unsplash.com

Reference

More by this author

David Carpenter

Lifelong entrepreneur and business owner helping others to realize the American Dream of business ownership

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Last Updated on July 17, 2019

How to Make Changes in Life To Be The Best Version of You

How to Make Changes in Life To Be The Best Version of You

Let’s start with the problem:

You get back from work. You’re tired. It was a long day. You know there’s things you could do, to get out of the rut you’re in.

But, let’s be honest. You really would rather relax, sit down and chill for a bit. Grab a snack. Watch your favourite show.

By the time you’ve done that, the day’s over. There’s just not enough time. To make this worse – you don’t have the energy or willpower to make changes in your life today.

So where do you go from there?

What you need are some easy to apply actions that are proven to work.

This article is going to give you 4 steps on how to make changes in life so you can follow today and get closer to success – even when you are feeling tired and lazy.

These steps have proven to work for me, and many of the coaching clients I work with privately.

1. Squash Inconsistency by Giving up Motivation

Now most people, when they want to make changes to their lives, focus on making lengthy to-do lists and plans. They think over and over again about what is going wrong, what is going well and what they want, etc.

All in a bid to push themselves to getting more motivated.

Guess what? This isn’t going to work.

Willpower and motivation are feelings. Feelings are vague and unreliable.

Instead, what you should do is focus on putting your flawed unpredictable self in the best possible environments.

If you do one thing first from this list, it’s THIS:

Find and go to the best possible environment for the area of your life you want to change.

For example:

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  • If you want to get fit, make your first goal to show up at the gym three times a week.
  • If you want to find a new relationship, show up to a meet up in your city for single people.
  • If you want to be productive and make your business idea work, don’t work at home, go to a co working space nearby.

The reason people fail to become the best version of themselves is because they underestimate the power of environments to influence behavior.

Accept that you are flawed, prone to distractions and your motivation and willpower will fail you.

The best hack at your disposal? Show up to “change inducing” environments and get out of your comfort zone (physically)!

OK. Next step.

2. Recruit an Elite Team to Help You (For Free)

Open up any social media platform you’re active on that contains some positive connections you have.

Send this message to one person you already know and trust ton help you make changes to your life:

“Hey [first name]. Can I be really frank and honest with you? I’m having one of those – ‘OMG I NEED TO MAKE CHANGES TO MY LIFE!’ moments.

And I was browsing the internet, looking for tips and this article I came across suggested accountability. So here I am, messaging you to be part of my accountability system.

My ask is simple.

Can we sit together once a week at [x place] but do absolutely no socializing? I’ll buy the [coffee/food] and it will be a space to force me to do [x thing]. You literally have to do nothing other than eat the free coffee/food I pay for lol. But it will keep my accountability high, which is what I need.

What you reckon? Can you help? Thanks!”

Now obviously, change the language to suit you but you get the idea.

Not only are you going to environments that will help you make changes, but by bringing a friend (or two), you make it even likelier that you will succeed. It doesn’t even have to be in person, it could be a video call.

People fail to make changes to their lives because they try to do it all themselves.

It doesn’t really work in long term, and it doesn’t have to be this way.

You can recruit and “enlist” people to help you. By doing this, you’re taking care of the up and down motivation you have.

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Not only are people happy to help, when they see this type of behavior, they’re also inspired and motivated to change their lives. Pretty soon, you end up creating change in not just your life, but other people’s too.

So when the next dip in willpower comes?

You have a friend sitting right next to you, watching your every move, making sure you get things done anyway.

3. Build Good Habits Effortlessly

Changing your life means changing your day to day habits.

Habits are automated behaviors you do everyday, like how a clock works, without thinking or motivating yourself to do them.

Some habits help you to change, others can stop you. One of the best ways to replace your ‘bad’ habits with good ones is to treat them like old clothes. What happens when your t-shirt gets old, faded and out of fashion? You replace it with something new and improved.

Do the same thing with your habits – upgrade and replace them with something better. Start small, then slowly graduate to higher levels of difficulty.

Let me give you a clear example of what I mean:

A few years ago (before it became mainstream), I was trying to start my own habit of meditating every single day to help boost my productivity and mindfulness. I’d done a mind blowing course called Vipassana. It involved 10 days of deeply powerful meditation combined with noble silence in a remote part of the UK.

Now it was easy to do when I was there (#1 – environment!) with all those other meditators (#2 – people helping me). All I could do was meditate. There were ZERO distractions. I had NO CHOICE.

When I got home however, after a few days of sticking with it, I quickly caved.

Those extra 30 minutes of sleep were just so much easier than waking up everyday at 4am for a long one hour meditation.

So what did I do to build this really important habit?

Like with most things, I wanted to make changes to my life. I wanted to become my best self.

I knew how important it was. I just couldn’t follow through consistently and kept failing over and over.

Then, it hit me.

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I needed to start small. I made a tiny change, that made all the difference.

I made a tiny change, that I could stick to – without fail – that has me meditating daily every single day now.

What was it?

Instead of trying to do something BIG inconsistently (1 hour of 4am morning meditation) and failing again and again. I decided to do something small consistently.

Building any good habit really just comes down to repetition. The way the brain is built works in favour of this.

My new habit became:

When I wake up, I will fold my bedding neatly. Then I will sit cross legged for 30 seconds with my eyes closed.

Eventually, once I did this consistently for a few months. I increased difficulty.

When I wake up, I will fold my bedding neatly. Then I will meditate for 10 minutes.

Why does this work?

What’s important here is that the behavior you want (meditating) is tied to another consistent habit (folding your bedding).

I attached my new habit to one that already is consistent.

Making it more likely to happen.

Secondly, I aimed for consistency, not perfection. This is where a lot of people fail. They have an idea of the change they want, but things become all or nothing.

When you do this, you fail to realize the power of consistency. The brain you have loves patterns. In this case, I trained my brain to repeat a set pattern every morning when I fold my bed.

There was no motivation or willpower required.

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This training has gone so far now that if I miss a day of meditating, I really feel uncomfortable. I’m just as conditioned to meditate as most people are to checking their phones in the morning.

If you want to learn more about quitting bad habits, Lifehack’s CEO also has a guide on it: How to Break Bad Habits: I Broke 3 Bad Habits in Less Than 2 Months

4. Create More Time by Quitting Social Media

You know the best thing I’ve ever done for my productivity and it took me 30 seconds to do?

I deleted all social media apps from my phone and blocked them on my laptop.

Then, to reinforce it, I told all my friends and followers on Facebook (my most used platform) I wasn’t using it for a while.

Now, there’s nothing wrong with my social media. Social media is a tool. Tools are neutral. It’s how we use them that is “productive” or “distracting”.

We each have to judge how healthy our usage is, especially when weighed against unlocking our best self. That said, for most people reading this, including me, I think limiting our usage is a very favorable advantage.

One of the best ways to make changes in our lives is not to add new tools or tricks. But simply remove things that distract us.

Social media is something I use heavily for my businesses. Technically I’m a “social media influencer” and “YouTuber”. I need to be posting constantly, right?

Our situations are unique, so I came up with a unique solution for this. After deleting and blocking these apps from my devices, I installed a social media management software that still allows me to post my updates.

The big difference, however, is I cannot spend any time scrolling and being distracted.

Final Thoughts

Change is not always about more. Sometimes it’s about doing less and getting rid of what distracts or blocks you.

Trying to do things by yourself is a good way to fail. Share your goals and pitfalls with people, no one helps until you ask.

Start with small changes consistently instead of big changes failed at consistently. The momentum will give you results over time.

So what to do next to make changes in your life?

  1. Write down where you are going to GO to create the changes you want.
  2. Message 3 to 4 people on social media and ask them to help you using the message template I gave you.
  3. Choose one small habit to get started with immediately and upgrade it over time.
  4. Delete all, or at least most social media apps on your devices, and notify people you are leaving to make it stick.

More About Making Changes in Life

Featured photo credit: Unsplash via unsplash.com

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