For
the past seven months, I have been writing a book called Flipping
a Switch. The book, which will be out by May, describes 35 “flipped
switches (i.e., transitions) that people experience in later life. At the end
of each chapter is a section called “How to Flip This Switch” with suggested
action steps for each transition.
Three
weeks into COVID-19 shutdowns, some of the “switches” that older adults face
are issues many Americans are also facing right now. In some ways, it is almost
like socially distancing workers have been forced into “retirement.” Below are six
“flipped switches” with tips for navigating the tough times that lie ahead:
¨
Creating
a “Paycheck”- Follow the
lead of retirees who often “patch together” several sources of income when
their formal paychecks end. Income sources may include unemployment benefits, savings
withdrawals, side hustles, family loans, loans from retirement savings plans,
and food from a food pantry in lieu of income.
¨
Adjusting
to a Changed Income- Assess
changes in cash flow. Many retirees live on less income than when they were
working but some actually earn more with pensions, savings, and continued employment.
If you have lost income, try to reduce expenses. If you have extra income, pay
down debt and set aside some savings.
¨
Becoming
Fraud Bait- Beware of COVID-19
themed frauds such as “free” (for
a fee) home testing kits, bogus cures, government benefits, and other false
claims. Just as older adults are a frequent target of frauds, so are all
Americans when a catastrophic event like a pandemic occurs and scammers prey on
people’s fears.
¨
Avoiding
Too Much “Togetherness”-
Identify “separate” and “together” activities when the “buffers” of work (and,
for parents, school) are gone. Retiring couples often need to do this too. If
you are working from home, create an efficient workspace and try to establish “office hours” when you can work
uninterrupted.
¨
Keeping
Busy-Take advantage of extra
free time and a slower pace of life to meet minimum recommendations
for physical activity, spend more time with family and friends, work on hobbies,
and start long-postponed projects, just as many retirees do. Feeling bored? Unleash
your talents and skills in new ways. Research studies have shown that a little boredom can actually enable
creativity and problem-solving skills.
¨
Staying
Socially Connected- Take
walks, alone or with a pet or friend, and converse with others at a safe distance.
Also consider signing up for a free video-conferencing app to stay connected
with others when you cannot physically be together. Isolation is a particular problem
for older adults but it can happen at any age.