This year seemed like a blur! It seemed as if almost everyone and everything was on speed-dial.
We transitioned back to face-to-face meetings — this was a real treat! We tried to reschedule every event we did not have the past two years during the COVID pandemic. It seemed no matter how much we tried to plan our work and life balances, there was never enough time.
Our communications turned into sound bites that led to miscommunications and misunderstandings. Some people spoke too much and others did not speak enough — 2002 felt like a whirlwind! So, what do we do?
We stop. We analyze. We listen. We review and assess what each one of us can do individually and differently as we head into 2023. We can look back on 2022 and blame loved ones, family, friends, employers, the moon, the sun, the stars for the outcomes of the past three years.
Or we can grab ahold of life and steer it in a better direction. For 2023, we can make a decision to take control of our life or continue to let life control us. This could mean making tough decisions personally, emotionally, spiritually, physically and/or financially, but you owe it to yourself.
Someone told me they see life in thirds. The first third of life is learning and applying. While the second third of life is making adjustments based on what was learned.
Last third is chance to rewrite your script
The last third of life is correcting what was learned from your family of origin and other learnings along the way. This makes the last third most impressive and powerful because you can rewrite your script and make it your best ever!
In my first third of life, my father taught his offspring about investments and working hard while young so we could play hard when we are old. I took his advice 100 percent and realized a few years ago (before COVID), I needed to make life adjustments. I wanted to go to my grandchildren’s events without a laptop and a cell phone. I wanted to spend time visiting my adult children without the interruption of a work-related call. I wanted to travel the world with love and companionship because I was prepared for the last third of life.
My hope is by sharing what my father taught me, I can provide tidbits that can help someone in 2023.
First my father advised his offspring to have five funding streams in preparation for retirement:
- Social Security — Knowing the best time to receive funds
- Rental Property — Investment with income but also a place to stay as a back up
- Pension — I was blessed to work for the State of California for 30 years
- IRA — If you do not have one it is not too late to start one
- Stocks — Gifts from my father for his offspring became stock and college savings accounts
Don’t rely just on Social Security for retirement funds
Today, I will focus on the Social Security Administration (SSA). I was researching the SSA because I am close to the age of applying. I was saddened to learn 40.2 percent of the older American population relies solely on SSA benefits, according to an article in Forbes.
It was even more astonishing to learn from the SSA that about four percent of the U. S. population never receives Social Security benefits. There is a higher proportion of women, Hispanics, immigrants, never married and widows that make up this percentage. The article described these populations as having less education and/or insufficient work history to receive coverage. These groups aligned with three main categories: late-arriving immigrants, infrequent workers and noncovered workers (most are state and local government workers).
AARP reported Social Security was originally designed to supplement pensions and retirement savings, not to be the sole income. This may not be the best news to read about this holiday season. But it can be a personal awakening and an opportunity to check with elders and others, so they become aware of available benefits. SSA created a fact sheet to provide information on benefits, average incomes from SSA and benefits for individuals with disabilities, family members and more.
We cannot change the outcomes of COVID and 2022. However, we can change how we go into to 2023. For me, the last three years taught life-changing lessons:
- 1) Take ownership for what has and has not happened in my life; and
- 2) Continue to share knowledge and help others.
Happy New Year!
