It’s taken me a long time to get to this point in my life where all the pieces have finally come together. I’m blessed with a loving family and friends, a great wife (the Contessa) and a wonderful business partner in Gerry. Things finally feel right and the future looks pretty good right now from where I’m standing. But it wasn’t always that way and I’ve been dealt, rightly or wrongly, with my share of challenges over the years.
Many of you maybe confused by lifestyle and financial planning. The financial services industry, through advisors, planners and brokers have for years helped customers save money for their retirement. They provide suggestions on investments look at your risk tolerance, asset mix, help you budget, with the goal of financial independence when you retire. That is a wonderful and noble goal but are you really prepared for the “blank sheet of paper” that is your life for the next 20+ years? We call the years after work where you have the health to do what you want your Victory Lap (VL). As my mother use to say “Money does not buy you happiness” so you need a lifestyle plan.
As you read this I am on my annual fishing trip to the George River. I’ve been working hard over the summer and I can’t believe how fast this one has gone by. The weather has not been great with all that rain we had this year in the Toronto area. While I will miss the Contessa I need time away from the computer to recharge. I will post a full report of my trip when I return. The “George” holds a special place in my heart and I will share with you how I discovered it’s healing powers. I hope everyone has their own special place, the place you can go to think, rejuvenate and recharge your soul. This week I would like to talk about dealing with retirement shock. Continue reading “Gone Fishing”
This week’s blog will be a little shorter, it is the summer so this will allow you to have a quick read then get out and enjoy the warm weather, after all Labour Day is just around the corner.
When I was working full time, the company’s fiscal year end was October 31, so the fall was a time to review achievements and plan for the new fiscal year, I still take this attitude into my personal life. As many of you finish enjoying the summer it is a good time to review your life style and financial plans and take time to think about life after your first career. Continue reading “MORE GOOD NEWS ANYTHING IS POSSIBLE”
I was reading an article in the New York Times on the difficulty older people have proving a bias or harm when fired, deleted, given the pink slip, or the newest term I have seen – transitioned through. Without clear proof of harm there is a long uphill legal battle with little chance at compensation. Continue reading “Time To Turn The Page”
My view about money changed since I left the corporate world, why I thought? Early in my life I was lead to believe that money was the most important measure, the one thing that matters on a personal scorecard. I became wired to succeed, earn promotions and win awards. All in the pursuit of “more money”, money for the family, money for more stuff. Continue reading “In Victory Lap It’s Not About “More Money””
I was reading an article on retirement in The Atlantic. The article discussed the earliest concept of retirement dating back to Otto von Bismarck of Prussia in 1881. The concept was to provide financial support to “older members” of society. The idea was radical because people did not retire, if you were alive you worked. At the time the majority of people were employed in agriculture to feed the masses. The struggle for payment continued for 8 years and finally with pressure from the socialists, legislation was introduced for the state to take care of those disabled from work. Social security was later introduced for those over 70 years old, however 70 was well above life expectancy at the time. Continue reading “Where did the idea of Retirement come from?”
Going through boot camp has been both exhilarating and frustrating at the same time. I’ve been making great progress on the mental and spiritual side but I’m still struggling with getting back into the kind of shape that I want.
I know the problem, I was attempting to write a book, manage a blog, doing media and trying to get healthy at the same time. It was simply asking for too much too soon. Something had to give and it was my workouts. In hindsight the best way to transition into VLR would have been to take a break from work and just focus on my mind, body, and spirit. So now it is time to re-group and re-focus.
I believe most people would agree with the above statement so why is it that 46% of Canadians do not have a financial plan? It just doesn’t make sense to me. Everyone is concerned about their futures yet why are so many willing to blindly go along and hope things turn out for the best. All I can say is good luck with that! Continue reading ““The Better The Plan The Better The Outcome””
Suggested Reading Prior To Commencing Your Victory Lap Retirement
A question that frequently comes up at our seminars is what books we would recommend people read to help prepare themselves for a successful VL. I think this happens because many of our talks are held at libraries and people there are accustomed to doing their own research. There are a lot of good books out there, including Victory Lap Retirement, but the following four will do the job getting you both mentally and financially prepared to launch your own VL. Continue reading ” 4 Books”