Is life insurance over 60 really necessary? It’s a more difficult question than it sounds. After all, many women have had life insurance for most of their lives. When we are younger, we see at a necessary measure to protect our families if something unexpected should happen to us. But, as we get a little older, many of us start to wonder whether we are just wasting our money. Now that our kids have grown up, do we really need to pay money every month for life insurance?
Since everyone’s situation is different, it is impossible to provide a blanket answer to this question. However, I hope that the following gives you some questions to raise with your family and a financial professional.
Women over sixty are redefining the concept of “retirement.” Instead of “aging gracefully,” more women than ever are starting new businesses, working part-time, volunteering, pursuing creative interests, or otherwise finding new ways to make a contribution to the world.
Financial security is an important concern for a lot of women over 60. Many of us are still working and are in the final stages of planning for retirement. Others have already left the workforce and are looking for ways to make their retirement savings last longer. Some are living on pensions or fixed incomes. But, exactly how much money does it really take to find happiness in retirement?
Most boomer women have a strong work ethic and derive a great sense of identity from their work. After all, many of us started working when we were 15 and have worked for 45 years, so when work ends, there is often a huge void in our lives. This leaves many of us looking for ways to avoid loneliness in retirement.
Today, women over 60 are defining and creating a whole new category of bold and fearless individuals with style, energy and ability! Many younger people might be surprised at the reality of life for women over 60 and the depth of their desire to be heard, respected and visible.
I asked women in the Sixty and Me community what they thought was the biggest misconception or stereotype that people have about our age group. They came back fighting with responses that were gutsy and enlightening.
Midlife women are doing it again. As we did in our 20s, we are questioning fundamentals, challenging the status quo, being stubbornly bohemian and embracing the unconventional. Boomers are tenaciously breaking down stereotypes about aging and redefining life after 60. However, this raises an important question.
Several years ago, while I was going through a major downsizing exercise, I came across a vision board that my son had created in 5th grade. Of course, he had no idea what a vision board was at the time, but, it was clear that this was the result of his creative effort. His visual collage was both beautiful and eerily prescient.
The feminist movement gave women many gifts. Whatever your opinion about “women’s lib,” most efforts to achieve equality and independence have been helpful. Women can vote, own property and enjoy a wide range of legal and financial freedoms. Women truly have come out of the shadows and chosen to take off their invisibility cloaks.
For years, you have been wondering what to do in retirement, once it finally arrives. Many people put off big life plans and dreams until after they’re finished working. Maybe you have been saying to yourself that you will take a certain trip or have a certain experience or pursue a certain venture after you retire.