I conquered 65.

Unexpected Rewards for
Retired Peace Corps volunteers

Roger and Leslie, Spokane, Washington

As strange as it may seem, it was the sudden death of country-western singer Conway Twitty–he died of a heart attack on his tour bus at 56–that convinced Roger and me to leave our jobs and become Peace Corps volunteers.

We decided life was too short. We wanted new challenges and more time together. We also had idealistic goals. We liked the idea of promoting peace and understanding through one-to-one contact with folks in emerging nations. We could share career skills while exploring another culture. We looked forward to a new level of personal growth.

What we didn't expect was that our Peace Corps adventure would also result in unanticipated financial rewards that would greatly improve our standard of living in retirement.

Our work

Roger was 59. I was 56. We served in Jamaica between 1996 and 1997, living in the southwestern market town of Savanna-la-Mar.

Roger, a retired school principal, worked with a consortium of local community leaders to start a much-needed technical community college. The majority of Savanna-la-Mar residents were squatters, mostly youths without skills and jobs. However, they were not without hope or capacity for hard work and a relentless desire to improve their lot.

A former environmentalist, I was assigned to the Westmoreland Department of Health. I worked with a squatters' community of about 300 people. These people lived with only one community standpipe for water, few sanitary latrines and poor drainage to handle the inevitable flooding in the rainy season. I also worked on an island-wide program to improve public health inspections of the hospitality industry. Our goal was to lessen incidences of travelers' diarrhea by improving hygiene standards and training in food-and waste-handling practices.

Our work was challenging and difficult. Progress was slow, but we did see progress. And we grew to love and admire the Jamaicans with whom we lived and worked. We found our hosts to be hardworking, intelligent, hopeful, charming and upbeat. We found truth in the PC slogan, “Peace Corps: the Hardest Job You'll Ever Love!”

Unexpected rewards

Financially, it also proved to be a good decision. Volunteers are paid a monthly stipend equal to the local living costs of an entry-level public servant. It is meant to provide safe housing, food and basic transportation, and to cover incidentals and occasional treats. Sharing expenses, married couples do very well on this allotment. We were even able to put money away!

Excellent medical care is provided, including Medivac. In addition, money is deposited monthly into a stateside account to provide a readjustment allowance upon completion of service. There are also per diem funds for vacation, emergency trips home and travel expenses.

We saved in other unexpected ways, too. While we were away, family members lived in our home and paid our taxes, insurance and utilities. We sold our cars and invested the cash. We had no medical bills. And our untouched retirement accounts were left to grow and compound.

During our 30 months of service, we accrued the Peace Corps' readjustment allowance, travel and vacation per diems, as well as monthly savings bonds with interest–a surprising total of more than $100,000 (and that was 10 years ago)! In the end, it was more than enough to replace our cars, help buy a new home, travel and even save and invest some.

Over the years we've met some seniors who volunteer multiple times, each time earning enough income to live stateside in between service periods. That may not be for everyone–including us, as we now have grandchildren and aging parents–but it is a fascinating way to build savings and security while serving others and having grand adventures.

Learn how to become a volunteer at www.peacecorps.gov.

What's Your Next Adventure?
Work and volunteer abroad

Starting a new life in Paradise

Ruth A., Todos Santos, Baha California, Mexico

My first goal was to retire as early as possible. I wanted more time to live a life outside of the rat race of corporate America. The big question was where?

At the time I was living in the eastern Washington desert where work had taken me. It wasn't my first choice and it definitely wasn't where I wanted to retire. So, I created a mental list of what would make me happy: Let's see, ocean, palm trees and warm ocean breezes. After reviewing U.S. locations that offered these essentials – California and Florida, for example – I quickly realized my budget would never finance my dream.

But wait...

For a number of years I'd been traveling to Cabo and the small village of Todos Santos on the Baja Peninsula of Mexico. In fact, I had a trip already planned when a little bird whispered in my ear: Why not Mexico?

Two weeks later, my first day in Todos Santos, I went to the local real estate office. Two hours later I made a decision to buy a wonderful rustic lot (no water or electricity) with a million dollar view. That was 12 years ago.

At the time I had no idea how I was going to pay for it. I had the down payment, but there was no real estate financing for foreigners in Mexico. Thank goodness for credit cards. I used plastic to complete the purchase, taking full advantage of the wonderful interest-free credit card programs offered back then.

Next came developing this unique piece of property. As my Mexican neighbors would say, I did it “poco a poca” (little by little). Again, thanks to the 0 percent programs I was able to finance most of the work with no interest. An added bonus: My company also compensated me for taking early retirement – a week's pay for every year worked. It was just enough to finish my casita in time for retirement.

I retired two years ago by supplementing my modest pension with assets taken from a small 401(k) I had from another company. It was just enough monthly income to sustain me until I qualified for Social Security, and it left my larger 401(k) free to grow until age 70. So if you do the math, I was able to buy the property, add a small casita, and pay it off within 10 years!

Now, here's the kicker. What started out as a small dream, a little piece of paradise for an early retirement, has turned into a fantastic investment as well. My little dream property has doubled in value and will only go upwards as this area becomes more and more attractive to other retirees. The current value is $200,000, and by the way, I now have water and electricity.

And is there a life after the rat race? You bet!

While I have an art degree I'd always been far too busy working to ever really put much time into it. I had made a promise to myself years ago that I would return to it in my golden years. Yes, golden they are, and painting and drawing are now a big part of my life.

In addition, I'm currently in the “hippy chorus” rehearsing for the fall debut of “Hairpiece,” a local production that imagines a 40-year “Hair” reunion (has it really been 40 years???).

Also, I'm working with a new women's sewing cooperative to make shopping bags of natural materials to use instead of plastic bags at the mercados and tiendas (local markets). The cooperative is focused on reaching Mexican ladies who can sew or who want to learn how, providing them with a source of income while at the same time doing something to protect the environment.

So, start with a dream, know what you want, make a plan, be creative and guess what? Your dreams can come true.

Vivian and Beanie the Cat
(the Fabulous Friendly Furry Feline)

Vivian R., Hot Springs, Arkansas

I taught kindergarten for 33 years, and for 33 years I imagined writing a children's book. I saw myself keeping a log of all the cute things my kids would say and then someday, when I had more time, writing a wonderful little story.

But I never kept that log, and after I retired in 1990 the years passed. Those childish witticisms slipped away from me and I put the book idea aside.

It wasn't until my daughter Jeanie's lovable little cat Beanie died that I found my inspiration again. It was my way to express sympathy, a tribute. And so I wrote the true story of the friendly furry feline who loved to greet people at the door, get tangled in Christmas trees and do death-defying acrobatics from the family banister.

Jeanie cried when she read the story and showed it to all her friends. It wasn't long before everyone was encouraging me to get the story published. So, in 2007, after several revisions and adding family snapshots, I decided to go the self-publish route through Xlibris. To date, nearly 150 copies have been sold or given away, but most importantly, the project has been a whole lot of fun for me.

I write for my own enjoyment. Mostly nonsense rhymes, although right now I'm working on a novel. I also fill my time volunteering at the local hospital and center for the arts, golfing, painting and reading books that have been on my list for a long time.

The thing about retirement is that there's now time to do these things. My husband Keith and I (we've been married 61 years and have two daughters, two grandcats and three granddogs) were prepared for retirement and we're enjoying it very much.

During my working years I was busy all the time, so it's nice to sit down with a cup of coffee, look out the window at the lake, and know there's nothing I really have to do today. Retirement is everything I thought it would be.

Vivian's book may be purchased online here.

Making Time for the Work We Love

Tom and Marian F., Spokane, Washington

Our retirement “dream” was not a conscious one. We just wanted out from under the daily stress and pressure of meeting endless deadlines.

Our son John was the best thing that ever happened to us. As a family, we spent years raising show horses, skiing and building a lake place, but we always had to sacrifice fun time for work demands. I rarely found time for my artwork. And when Tom finally did retire, he had more than a year's worth of unused vacation time.

Needless to say, leisure was a low priority.

The best thing about retirement is the ability to do what you want with your time–even when it means retiring to work you love. It keeps you young to stay involved in something stimulating, especially when you're no longer concerned with earning a living... if you planned well.

Tom and I were married on August 6, 1960. He grew up in central Illinois where his parents reinforced the importance of earning a living wage and planning for retirement. He was educated at the University of Michigan, did a required Army ROTC stint after deciding he couldn't afford law school, and landed a job in electrical sales for Westinghouse in Peoria, Ill. (He would have hated being a lawyer!)

I was raised on a wheat farm where money was seldom talked about (other than the current price of wheat). Both my parents were creative but practical people who wanted all six of us to go to college so we could do whatever we wanted to do. My father told me I could major in art as long as I could get a job when I graduated. I did, making very little money at a women's college doing graphic design and public relations and traveling around the Northwest meeting with prospective students.

Tom came west when Westinghouse transferred him to Tacoma. After we were married, we spent our honeymoon job hunting. He got a job in Spokane selling fluorescent light fixtures and retired 33 years later as the president of five national divisions. At first he did a little consulting, but found it involved being gone from home for too long at a time, which was something he was very weary of.

During his working years, Tom shared his expertise and advice with several young businessmen. It's something he continues to do today, 15 years into retirement. It keeps him on his toes and passes his hard-earned knowledge to others so they can grow their businesses. He thoroughly enjoys the challenge, finding it both worthwhile and satisfying.

He also bought himself a grand piano and organ (retirement presents to himself), and picked up the classical music passion he had dropped before we were married. He decided he had never felt comfortable with math, so he works on algebra every day. He also took up golf seriously as he had never had time to play while working. As he spent so many years on planes and in hotels, he is not too interested in travel, but we have begun to spend a month in Palm Desert every February to escape the snow.

As for me, 15 years after college I had not done any artwork other than graphic design. Abstract art, which I hated, dominated the art world at that time. I had always loved the figure.

Eventually I “retired” to motherhood and began doing a few portraits of friends' children and their show horses. Both pursuits were excellent “seat of the pants” training for my eye. I took up pastels because John was usually with me in my workroom and couldn't get hurt if he ate them.

In 1978 I was invited to show at the annual Western Art Show and decided to become a full-time professional artist, a true late bloomer at 41. That show led to my showing in Scottsdale and California with a national western women's arts group. Then a gallery in Scottsdale picked up my work. From that came an opportunity to do a plate and figurine series for Goebel and travel around the country to promote my work.

Today I do portraits in oil, pastel and bronze, gallery works and garden bronzes (www.marianflahavin.com).

A retirement of leisure isn't for me, and frankly, I doubt I will ever get everything done that I want to. I just hope my body can keep up with all the ambitions I have for my retirement.