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Finding Your Retirement State of Mind

By WTOP Staff

Every once in a while you meet a senior who seems to have retirement figured out. They appear to be genuinely happy with their state of affairs and making the most of each day. When you ask about their retirement experience they shine a genuine smile and are happy to regale you — often at length — about how wonderful it is to be in their shoes. Their happiness is infectious and you may find yourself caught up in their joy. Although it is safe to assume not everything is perfect in their world, their overall outlook is positive.

My wife and I recently spent a weekend in Carmel Valley trying to escape the latest Bay Area heat wave. While dining in a shaded patio beside a burbling fountain decorated with playful water nymphs we found ourselves seated next to a retired couple. This couple had retired to the Carmel area more than 15 years ago. Before we even got our menus they began sharing their years together as a retired couple along with just how happy they were to be retired.

The best part was how excited and animated they became reliving the moments and experiences they enjoyed along the way. Between extensive travels abroad and heavy involvement with the local community they painted a vivid picture of a fulfilling and exciting retired life. Each new arrival to the restaurant bid them hello and everyone in the room seemed to know them. This retired couple seemed to be equal parts proud and happy to be an integral part of their local community.

Finding the right retirement state of mind can help you realize a happy and fulfilling second act. Here are some helpful pointers I gleaned from our recent encounter at the restaurant:

Become involved in something that matters. Carmel Valley is compact, but like any small community you can find a lot going on if you know where to look. Our new friends recommend we identify what most interests us personally. For example, I love spending time at the ocean, so why not see if I might contribute a day or two each week working at Point Lobos National Park or the Aquarium on Cannery Row. It is not about the money but rather staying engaged doing something you like. My wife would like to help out the significant senior population in the area and so might offer to deliver food or drive those who would otherwise remain homebound. Local clubs, societies and organizations are always looking for volunteers to assist during special events. There are a wide variety of options when it comes to possible areas to contribute your time. In fact, we have heard from more than one couple that one of the biggest problems among the newly retired is suddenly finding yourself committed to doing too much.

Don’t limit your possibilities. Just because you have not done something in the past does not mean you cannot give it a whirl now. With time to do what you want, retirement offers a second chance to try new things. A little experimentation might uncover a hidden passion or lead to an exciting new undertaking. Consider your retirement a blank chalkboard you are free to fill with whatever strikes your fancy. Try not to be overly picky on the first pass. You can make adjustments later. And if after your initial investigation you find you don’t like a particular selection, just pull out your handy eraser to make room for something else.

Get to know your neighbors. Living in the frantic Bay Area with everyone enmeshed in all-consuming careers is not the most conducive environment when it comes to getting to know the people on your block. Sure, we recognize one another and say “hi” when we pass on the street. But at least for us it has been difficult to build close relationships. In retirement, you will no longer be time constrained and have the chance to get to know those people next door and across the street. Who knows what common interests you may share. Neighborhoods used to be much more closely knit and supportive. With a little time and effort maybe you can bring a little of that back into your life.

Stay active. There is a time and a place to rest and relax during retirement. But it is also important to have an active life that allows you to stay involved with living. You cannot experience new things tucked into the same day to day existence. Our restaurant friends seemed to be in perpetual motion. And when they did take a break they were planning their next adventure. Just how active you want to be is up to you and your personal tastes. But try not to deprive yourself of that satisfied feeling at the end of the day after you have accomplished something that matters or tried something new.

Dave Bernard blogs at Retirement-Only The Beginning .

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Finding Your Retirement State of Mind 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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