Retirement has been portrayed through rose-coloured glasses for many years as the reward for working, living, coping, consuming, raising a family, and just getting on with life.

When younger individuals realistically think about those already retired, the uneasy fear and negative image illustrates a bunch of oldsters pushing croquet balls around a court, just for something to do.

When talking to those closer to retirement the reaction is not the same, at all. They (and me) are more determined not to be perceived as 'trying to figure out a way to keep busy'. Many know that they will need to work longer than planned, the financial implications of which may work to their advantage.

In our lifetime, our country population is still facing a major shift, not only in percentage of age demographics, but, in intellectual capabilities.

Reading only a small portion of 'The Shift: An Examination of Employment Trends in Bermuda', the current state of our economy is also pointing to very interesting trend in the composition of our workforce. See the BEC website (www.bec.bm) to download the full report.

Even without this report, one message is clear. A skilled educated labour force is very much in demand. We need committed individuals that can problem solve rather than mindless texting; who feel an urgency to fulfill assignments rather than a 'whatever' response; who possess an ability to turn a profit in a sales or service job, rather than focusing on the 'right to be me'; who take pride in a position and place in life; who have a propensity to be paid and to earn more response to incentives, bonuses; who employ a highly refined sense of personal standards of service and more.

Who are these people? I see them every day; the mature worker who has never taken anything for granted, who understands what it means to survive adversity; who takes pride in what he/she does every day.

This economy will continue to need accountants, bankers, sales personnel, marketers, technicians, teachers, and those that implement those directives of corporations to succeed. We are aware that we need to bring along younger generations, but until we can incent and educate them - given the length of time to groom from cradle to cap and gown, the work place will resort to guest worker talent - and us.

We can win the popularity contest. We are the needed folks, and we will continue to be needed, in great numbers.

Putting it simply:

• Four people earning $1,000 per week - generate the same payroll tax as

• Two people earning $2,000 per week and

• One person earning 4,000 per week.

We aren't turning out - yet - anywhere near enough $2,000 and up weekly earners. Is this a good thing for us closer to retirement stars? Yes, from the short term for us as individuals.

From the long-term perspective, we face a deficit of homegrown intellectual talent that may ultimately hinder our economic growth. If you are in your sixties now, your skills will be needed for ten more years, possibly longer - or the time it takes to turn education opportunities around for the next generation.

We may even be earning our own future care - cause it looks like there won't be too many others filling our shoes for us.

"Talkin about my generation": the McKinsey report on Ageing Baby Boomers 2008, while focused on the mature US population, has some affirmative information for our demographic group. Increasing retirement age, having additional older workers, or working longer boost GDP growth.

The survey also showed that most Boomers expect to work later in life, but we will have to combat corporate attitudes, labour laws and pension regulations. Boomers have more education and job skills and the propensity to obtain further skills.

Here in Bermuda as elsewhere, many of us have not saved (or not been able to save) enough and some are discouraged about their pension returns in this economic recession.

We've traded on our property values, with rents and other income generators. Those lucrative days have flattened in a percentage pattern along with the decrease in capital markets. We will need to augment that income.

The 10 percent or better rate of return on a ginormously (a combination of giant and enormous - the expression our children used to denote exaggerated outsized) expensive rental property to that captive executive may be at the end of the party.

That group can choose to commute now, physically, or electronically. Other factors such as rigorous cost containment across corporate boards, large and small, have also decreased demand.

Still, there is opportunity - especially for those willing to take the chance to continue to be productive, interactive contributors to the Bermuda economy. The McKinsey Study found that only working two years longer can enhance your eventual retirement, while working five years longer and continuing to save provides additional resources to the individual and the economy as a whole - a term called wider spillovers.

The drawdown effect of living early and entirely from a fixed income base is delayed, bringing greater life satisfaction into later years. If you want to continue to work, or are considering keeping in the employment market, should you reinvent yourself yet again as a mature vibrant individual? Yes, absolutely!

You have to start by outright rejecting society's definition of old. You have to define you as what you want to be. Why should you as a hard-working contributing member of a dominant society receive anything less than total respect?

It might not be so, if you have become complacent, letting yourself slip stylistically, putting in the food and on the pounds, narrowing your social and mental sphere, and being afraid to take risks.

There is still so much time left to truly be! Consider change.

For a fine quality of life in later life, the statistics are conclusive. Overwhelming. Those who maintain acute intellectual capacity, along with physical vitality are thin.

Do you have the discipline to reinvigorate and plan for a meaning in your later years? Get going, and send me your success stories, I want to publish them!

In the next six months, we will explore what it means as a mature individual to brand yourself, refine your sense of style (you don't need a lot of money), get an education or finish up your dreams, increase social connectivity, and view your finances to fund your life satisfaction in the New Age of the Individual.

Martha Harris Myron, CPA, CFP(US) TEP(UK) is a Certified Financial Planner¿, a United States Federally Authorized Tax Practitioner (FATP) and a Partner at Patterson Partners Ltd. She provides independent fee-only cross-border tax, estate, investment, and strategic planning services for Bermuda residents with cross-border and multi-national connections, internationally mobile people, and US citizens living abroad. For more information, contact mmyron@patterson-partners.com or phone 296-3528