Keeping Your Life
in Balance

Six years ago, Linda Morey’s life changed substantially following the sudden death of her husband of 24 years. Morey changed along with her circumstances, altering the balance of her activities and priorities. She retired as a claims manager for Phoenix Mutual in the firm’s Greenfield office. She rearranged her finances and took up pastimes she had never tried before, like kayaking and biking.

Meanwhile, Tom Marantz of Northampton, a cardiologist with a private group practice in Springfield, has reached the point of burn out on his job. He loves the work, but it has always been demanding, and after 23 years in business he feels it’s time to resign and follow his passion. Marantz plans to move to England this fall to become one of several apprentices to a designer of rally racing cars, a sideline he has dabbled in for several years.

For many like Morey, 57, and Marantz, 56, who face the realities and changes of life’s latter half, balancing multiple components such as health, finances, hobbies, time with family and friends, leisure time and travel becomes an increasingly intense juggling act, requiring more thought and strategy than ever before. As we age and as our abilities and situations change, our needs shift, priorities are adjusted, and future vision becomes more finite.

For Morey, who lives in Bernardston, it has become important to maintain a balance of activities. “Everything changed as all of a sudden I was not part of a couple anymore,” recalls Morey after her husband’s death. “I had to basically

reinvent myself again and adjust to a whole new life.” She tries to do something physical every day now, she says, even if it’s just a walk. But she gives ample time to other pastimes and obligations as well. “The primary challenges for people over 50 are social, financial and health issues,” she notes. “Health is the most important – to keep your body moving and your mind fit.”

Marantz would agree. He recommends the traditional remedies for good physical health: keep active, don’t smoke and eat a good diet low in salt. But Marantz underscores the need for continued education and challenge for those over 50 to remain mentally fit, too.

“The reason I stay focused and mentally healthy is that I continue to learn something,” he says. “If others are feeling as beaten down as I have [in their job], it’s time to step back and ask if you really want to be doing this.”

It can be a challenge fitting all these competing needs into one life palette. Time with family often becomes more important in later years, yet family members are typically scattered, requiring travel and dedicated blocks of time for visiting. Free time may be easier to come by for some, yet time itself is more valuable, and how to spend it meaningfully takes planning and contemplation. Perhaps most important,

finances take special care as managing nest eggs, investing prudently and spending judiciously replace those years of building wealth and saving for the future.

Linda Morey paddles her kayak, one of
several new pastimes she enjoys.

Today’s average life span in America is 76 years. And according to Utopia, a University of Texas research periodical, half of all Americans now turning 50 will live to see 100. That means financial planning for retirement must be conducted with a long-term purview.

“Today people are much more aware of the ramifications of living longer,” says Joe Woitkoski, senior financial advisor for Merrill Lynch and manager of the firm’s Pittsfield office, whose clientele largely consists of people over age 50. “The need for professional guidance from a financial standpoint has become more important for people at that age.”

With the increasing absence of company pensions and the uncertainty of Social Security’s future, financial solvency in retirement is among the top concerns for prospective retirees. Woitkoski, who is 60, recommends beginning the planning process as early as possible. “It’s never too late to start accumulating wealth,” he advises. “We encounter a lot of people who have not adequately accumulated wealth or savings.”

Retired cardiologist Tom Marantz
in his garage with one of his cars.

Every seven seconds in America, another person turns 50, according to statistics compiled by Federal News Radio. As Baby Boomers turn that corner in droves, the over-50 set is one of the fastest growing demographics in the country. The good news is that those embarking on their second half-century have plenty of company. And while health and finances top the list of priorities facing those in that age group, other issues essential to a full life pertain specifically to them as well.

“The toxic effects of stress over time can definitely play out,” says Tedd Ackerman of Amherst, the chief of psychiatry at Holyoke Hospital. “As you get older it becomes more important to live a healthy, balanced lifestyle.”

Ackerman, who has a sub-specialty in geriatric psychiatry, says studies show that people who maintain a diverse menu of healthy behavior are less prone to dementia as they age. “A balance of exercise, social life and maintaining interests can help reduce the stress that accompanies aging. Also, families become more important.”

As important as remaining in contact with friends and family is in later life, an active social life can become harder to maintain as we age. Social outings take planning and energy, and most of us do not retain the level of endurance we once had. And as social mores evolve, the attitudes and etiquette of yore have to be updated.

“Meeting people can be hard these days, especially for older women,” says Morey. She recommends joining groups and taking classes. “Find something you enjoy and do it,” she avers.

For Rosemary Callahan, a travel agent in Pittsfield who works mostly with clients around retirement age, those in their later years have a prime opportunity to visit the places in the world that they’ve always wanted to see. She often works with people who for decades have wanted to take a dream trip but have put it off as they dealt with careers, children, college expenses and mortgages. “People have worked hard all those years,” she says. “Now it’s their time. I had a client recently who said, ‘Before I get too old, I have a list of places I want to go.”

At any age, a balance of opportunities and obligations is essential for creating a fulfilled life experience. But for those beyond 50 – after their children have grown and gone, after college expenses are no longer a concern, after the mortgage isn’t the driving force for generating income, and when more time typically becomes available – the choices often expand, and deciding how to balance life’s components may take more consideration.

The composite advice from experts and those in that age group: give regular attention to physical health, finances and family, but also make time for your passions and interests. And importantly, don’t put off the things you’ve always wanted to do.

As Rosemary Callahan succinctly puts it: “Don’t wait, life’s too short. If you’ve got the money, and you’ve got the time, do it now.”

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