Retiring The Second Time At 60

I already blogged about why I retired at 45 and now at sixty (60) years old, I can say that I retired for the second time. For retiring again, I am now receiving my SSS Retirement Benefit in the form of monthly pension and soon my Pag-IBIG Provident Retirement Claim in one-time lump sum. The amounts of my retirement benefits are not big because I did not have contributions in the sixteen (16) years prior to my entitlement to such benefits. With a small pension, I am now contemplating on what productive activities to undergo in the coming days of my life.

My wife and I are lucky to have our two sons and a daughter to be still living with us. Normally, at their ages of thirty and up, they could have married and lived separately from us which could make our retirement life a lot more difficult than what it is now. We are retired but still, we have twenty four hours a day with practically nothing to do. There’s still some repetitive household chores that my wife opt to do to keep herself busy. In my case, I have to think and decide on what’s best to do to make myself productive at the moment?

I recently received an email from an acquaintance which contains a speech by P. P. Ramachandran, a Post Graduate in Economics from Bombay University in India who retired at the age of 60 after serving in a bank for forty (40) long years. I wish to quote a portion of his long speech about what functional options does an old-age retiree have.

The first is become a Consultant – Lurking inside every executive is a Consultant. But for this considerable expertise is required. Not all former executives can be Consultants.

The second option is to start your own Business or industry – But this calls for entrepreneurial qualities which an executive may lack. Many are the cases where lakhs of rupees have turned into thousands.

The third option is to involve oneself in professional activities – For this, one must build up one’s position even before retirement. Many cliques operate to prevent outsiders from encroachment.

The fourth is to get into spiritual activities – While nobody is required between you and God, nowadays, we find more and more godmen, swamijis and pseudo Gurus. There is a temptation to follow some Swamiji or even become one yourself. This is a very slippery slope. Beware – there are more hoaxes in the religious field than anywhere else!

The last and most meaningful option is to cultivate a Hobby – Use your creative abilities and do something that you enjoy doing. You should start this even while in service.

Considering the above options and having lived as an able-bodied retiree in the last fifteen (15) years, I can say that I had experienced and still currently doing some of the functional activities enumerated above. At 60 years old now, I want to do more so may I ask you some more suggestions aside from the above? As someone said, “Retirement is not adding Years to your Life but adding Life to your Years” and I wish to do this in my second retirement.