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How to Stay Engaged in Retirement

By WTOP Staff

Many baby boomers are contemplating what exactly they will do with their free time for the next 20 years. Some boomers envision an extended period of relaxation in which they pursue activities at a pace they are comfortable with. No big plans or lofty goals will crowd their calendar as they settle into a peaceful stress-free lifestyle. Other people cannot wait to take a shot at all of the interests they have had to set aside due to the demanding requirements of a job and family life. Hobbies, travel and passions fill their dance card. For them, the only concern is if there will be enough time to fit everything in.

The rest of us likely fall somewhere in between and are hoping to balance relaxation and activity. We do not feel the need to stay busy every minute of every day, but are not necessarily attracted to the idea of doing nothing at all for the foreseeable future. Now that we will finally control how we spend our time, we need to figure out how to strike a reasonable balance. In the absence of careful planning it is easy to become bored in retirement. That long anticipated freedom can become a burden if you start your days with nothing to look forward to.

Whatever your ideal balance between staying busy and taking it easy, having activities that engage your mind and body will be an important component of a happy retired life.

Don’t settle for the same old thing. In life before retirement, we sometimes find ourselves living the role of well-trained automatons who have learned the right way to do something and proceed to do just that. In many situations we follow the rules and do what we are “supposed to do” whether we want to or not. When retirement rolls around, we are not always prepared to take advantage of the new freedom thrust upon us.

If you had the time to do whatever you wanted, what would you be doing right now? Living your second act offers you the freedom to find out. In what for many people is a first time experience, retirees are able to try new things, experiment, explore and break free of the roles that defined them. What better time to step outside of your comfort zone to stir things up a bit. You don’t have to settle for doing the same thing over again when there is so much you have yet to explore.

Exercise your mind. Your brain is like any other muscle and needs regular exercise to function at its best. When returning to work after an extended vacation I have found it takes a bit of effort to get back into the swing of things. My relaxing time spent doing nothing seems to dull my otherwise sharp working mind. I was impacted after only a few weeks of downtime. Imagine how years of retirement without challenges will impact your brain. With nothing you must do, it becomes easy to do just that. A better course of action might be to challenge your brain doing things you enjoy. You could continue your education in areas that pique your interest. I found an iPhone app that I use daily to work on my French. Since my phone is always with me, I can pop it out when stuck in line or waiting for an appointment and learn a few more words or phrases. My wife does her daily Sudoku and jigsaw puzzles to keep her neurons firing. My parents play competitive bridge at least twice a week. Whether your thing is puzzles, card games, chess, board games or online games, a little mental workout can help you stay sharp while having fun at the same time.

Have something to look forward to. Nothing is worse than finding you are in a rut with nothing on the horizon. An empty calendar can be a lonely thing. Having something down the road to plan for and get excited about can make the days leading up to that moment more fun. The pending event doesn’t even have to be anything major. It could be as simple as a visit from an old friend or a weekend away on the coast. Of course, a major event like a European journey can be even better. Not only do you look forward to the actual date, but you plan and prepare in the meantime, building the anticipation. The idea is to have something to look forward to in the event that today might not be the most exciting 24 hours you have ever lived.

I have a strategy for when I retire full time: I plan to do my best to look at the world as through the eyes of a child. I remember my kids and their contagious excitement at seeing and doing something for the first time. Everything was fresh, exciting and a new experience to treasure. I accept that I may be a little jaded, and perhaps not every new experience will have that first time thrill. But I am optimistic that out there somewhere are still a few first times to be enjoyed. And retirement is the perfect opportunity to search them out.

Dave Bernard blogs at Retirement-Only The Beginning.

More from U.S. News

The 10 Best Places to Retire on $75 a Day

10 Places to Buy a Retirement Home for Under $150,000

10 Ways to Reduce the Cost of Retirement

How to Stay Engaged in Retirement originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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