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Susan Crusey,Extension Agent, Family & Consumer Sciences, Logan County During the middle adult years there is a noticeable change in how adults view their finances and careers. By this time most individuals have settled into their careers. Between the ages of 40-45 many have ceased to advance up the career ladder. In general, job satisfaction and commitment tend to be and continue to increase into our sixties. But the unexpected can happen. The closing of a factory or the downsizing of a company can cause major changes in an individual’s or family’s financial situation. Eager to trim costs, corporations are cutting the middle - mid-managers, most of them middle-aged. These individuals are then finding it more difficult to re-enter the workforce. Another financial adjustment that takes place for many mid-life adults is the planning for college and setting aside the necessary funds for their children. In response to these growing financial needs and greater free time due to their children getting older, many middle aged women enter or re-enter the workforce. Consequently this tends to be a time of career and financial readjustment and planning for both men and women. Some families are feeling the need for financial adjustment with aging parents. Some parents can no longer maintain a home of their own and other arrangements need to be made. Are you thinking about retirement? Are those thoughts filled with visions of sailing, starting your own business, or traveling the world? Or does your mind just go blank? You don’t have any idea what you would like to do. Either way, you need a plan. Before you get tied to a vision of your future, you need to assess where you are today. A combination of increased longevity and decreased savings is leading to a retirement crisis. Many people are spending longer in retirement than in their working years. Many Americans are living longer in retirement than their ancestors. To complicate this situation, many baby boomers have not saved enough for their golden years. Why not start your retirement preparations today?
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Midlife