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Last Updated on January 12, 2021

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

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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

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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 October 7, 2021

How to Make a Change With the Four Quadrants of Change

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How to Make a Change With the Four Quadrants of Change

Quitting smoking is the easiest thing in the world. Some people quit smoking a thousand times in their lives! Everyone knows someone with this mindset.

But this type of change is superficial. It doesn’t last. For real, lasting change to take place, we need to consider the quadrants of change.

Real change, the change that is fundamental, consistent, and longitudinal (lasting over time) has to happen in four quadrants of your life.

It doesn’t have to be quitting smoking; it can be any habit you want to break — drinking, biting your nails, overeating, playing video games, shopping, and more.

Most experts focus on only one area of change, some focus on two areas, but almost none focus on all four quadrants of change. That’s why much of change management fails.

Whether it is in the personal life of a single individual through actions and habits, or in a corporate environment, regarding the way they conduct their business, current change management strategies are lacking.

It all stems from ignoring at least one part of the equation.

So, today, we will cover all four quadrants of change and learn the formula for how to change fundamentally and never go back to your “old self.”

A word of warning: this is simple to do, but it’s not easy. Anyone who tells you that change is easy is either trying to sell you something, or they have no idea what they’re talking about.

Those who want an overnight solution have left the article now, so that leaves you, me, and the real process of change.

The Four Quadrants of Change

There are four areas, or quadrants, in which you need to make a change in order for it to stick. If you miss or ignore a single one of these, your change won’t stick, and you will go back to your previous behavior.

The four quadrants are:

  1. Internal individual – mindset
  2. External individual – behavior
  3. Internal collective – culture/support system
  4. External collective – laws, rules, regulations, teams, systems, states

All four of these quadrants of change may sound like they could carry change all by themselves, but they can’t. So, be sure to implement your change in all four quadrants. Otherwise, it will all be in vain.

First Quadrant — Internal Individual

This quadrant focuses on the internal world of an individual, and it concerns itself with the mindset of a person.

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Our actions stem from our thoughts (most of the time), and if we change our mindset toward something, we will begin to process of changing the way we act.

People who use the law of attraction fall into this category, where they’ve recognized the strength of thoughts and how they make us change ourselves.

Even Lao Tzu had a great saying regarding this:

“Watch your thoughts. They become words. Watch your words. They become deeds. Watch your deeds. They become habits. Watch your habits. They become character. Character is everything.” [1]

One of the most impactful ways you can make a change in this quadrant is to implement what James Clear calls identity-based habits. [2]

Instead of prioritizing the outcome of a change (ex.: I want to lose 20 pounds), you prioritize your identity as a person (I want to become/remain a healthy person).

Here are a couple of examples for you to see the strength of this kind of resolution:

I want to watch many movies = I am a cinema lover
I want to clean my apartment = I am a clean person
I want to harvest my crops = I am a harvester (farmer)
I want to swim = I am a swimmer

This quadrant is about changing the identity you attach to a certain action. Once you re-frame your thinking in this way, you will have completed the first of the quadrants of change.

Second Quadrant — External Individual

This quadrant focuses on the external world of an individual and concerns itself with the behavior of a person.

This is where people like Darren Hardy, the author of the Compound Effect reside. Hardy is about doing small, consistent actions that will create change in the long run (the compound effect).

You want to lose 30 pounds? Start by eating just 150 calories (approximately two slices of bread) less a day, and in two and a half years, you will have lost 30 pounds.

The same rules apply to business, investing, sports, and multiple other areas. Small, consistent actions can create big changes.

This works — I’ve read 20 extra pages a day for the past two years, and it accumulated into 90 books read in two years. [3]

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Here, you have two ways of dealing with change behaviorally: negative environmental design and positive environmental design.

Negative Environmental Design

This is when you eliminate the things from your environment that revert you to the old behavior. If you want to stop eating ice cream, you don’t keep it in your freezer.

If you want to stop watching TV, you remove the batteries from the remote and put them on the other side of the house (it works!).

Positive Environmental Design

This is when you put the things that you want to do withing reach — literally!

You want to learn how to play guitar? Put your guitar right next to your sofa. You want to head to the gym? Put the gym clothes in a backpack and put it on top of your shoes.

You want to read more books? Have a book on your nightstand, your kitchen table, and on the sofa.

You can even combine this last trick with my early advice about removing the batteries from your remote control, combining the negative and positive environmental designs for maximum effect.

Two Sides of the Same Coin

If you just change your behavior and leave your intentions (thoughts) intact, your discipline will fail you and the real change won’t happen.

You will simply revert back to the previous behavior because you haven’t changed the fundamental root of why this problem occurs in the first place.

That is why you need to create change both in the first quadrant (internal individual — mindset) and the second quadrant (external individual — behavior). These quadrants of change are two sides of the same coin.

Most change management would stop here, and that’s why most change management fails.

No matter how much you focus on yourself, there are things that affect our lives that are happening outside of us. That is the focus of the two remaining quadrants.

Third Quadrant — Internal Collective

This quadrant focuses on the internal world of the collective where the individual resides, and it concerns itself with the culture of that collective.

There are two different distinctions here: the Inner Ring and the Outer Ring.

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The Inner Ring

These are your friends and your family. The Inner Ring is the place where the social and cultural norms of your friends and family rule.

So, if everyone in your family is overweight and every lunch is 1,000 calories per person, then you can say goodbye to your idea of becoming healthy.

In this case, the culture of your group, the inner norms that guide the decisions, actions, thoughts, ideas, and patterns of behaviors are all focused on eating as much as possible. [4]

You need to have the support of your Inner Ring if you want to achieve change. If you don’t have this support, the the best way to proceed is by either changing your entire Inner Ring or distancing yourself from it.

Beware — most Inner Rings won’t accept the fact that you want to change and will undermine you on many occasions — some out of habit, some due to jealousy, and some because supporting you would mean that they have to change, too.

You don’t have to cut ties with people, but you can consciously decide to spend less time with them.

The Outer Ring

The Outer Ring consists of the culture of your company, community, county, region, and country. For example, it’s quite hard to be an open-minded person in North Nigeria, no matter how you, your friends, and your family think.

The Outer Ring is the reason why young people move to the places that share their value systems instead of staying in their current city, county, or country.

Sometimes, you need to change your Outer Ring as well because its culture is preventing you from changing.

I see this every single day in my country, where the culture can be so toxic that it doesn’t matter how great of a job you have or how great your life currently looks — the culture will change you, inch by inch, until you become like it.

Fourth Quadrant — External Collective

This quadrant focuses on the external world of the collective where the individual resides, and it concerns itself with the systems, teams, laws, and rules of that collective.

This quadrant is about the external manifestations of the collective culture. If the majority of the environment thinks in a certain way, they will create institutions that will implement that way of thinking.

The same rules apply to companies.

One example for companies would be those managers who think that employees are lazy, lack responsibility, and need constant supervision (or what is called Theory X in management).

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Then, those managers implement systems that reflect that kind of culture– no flexible work hours, strict rules about logging work, no remote work, etc.

Your thoughts, however, may be different. You might believe that people want responsibility, that they are capable of self-direction, that they can make good decisions, and that managers don’t need to stand on their necks if they want something done (this is called Theory Y in management).

Then, you would want to have flexible working hours, different ways of measuring your productivity (for example, not time on the job but work produced), and remote work, if possible for your profession.

This is when you enter into a conflict with the external collective quadrant. Here, you have four options: leave, persevere, neglect, and voice.

Leave

You can simply leave the company/organization/community/country and go to a different place. Most people decide to do this.

Persevere

This is when you see that the situation isn’t good, but you decide to stick at it and wait for the perfect time (or position) where you can implement change.

Neglect

This is where you give up on the change you want to see and just go with the flow, doing the minimal work necessary to keep the status quo.

These are the people who are disengaged at work and are doing just the bare minimum necessary (which, in the U.S. is around 65% of the workforce).

I did this only once, and it’s probably the only thing I regret doing in my life.

Voice

This is where you actively work on changing the situation, and the people in charge know that you want to create a change.

It doesn’t matter if it’s your company, community, or your country; you are actively calling for a change and will not stop until it’s implemented.

Putting It All Together

When you take it all into account, change is simple, in theory, but it isn’t easy to execute. It takes work in all four quadrants:

  1. Internal individual — mindset
  2. External individual — behavior
  3. Internal collective — culture/support system
  4. External collective — laws, rules, regulations, teams, systems, states

Some will require more work, some less, but you will need to create a change in all four of them.

But don’t let that discourage you because change is possible, and many people have done this. The best time to start changing was yesterday, but the second best time is today.

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Featured photo credit: Djim Loic via unsplash.com

Reference

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