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The New Retirement Story Promo

  1. 1. The New Retirement Story Create a Life & Work You Love and Never want to Retire from inHOLLYWOOD
  2. 2. Create a Life & Work you Love and Never want to Retire from Peter de KusterFounder of The Hero’s Journey with Rachelle Wessels
  3. 3. 1 Retiring Old Ideas About Retirement; About Schmidt
  4. 4. 1 Retiring Old Ideas About Retirement; About Schmidt Fellini’s Rome Face it – retirement is not a great idea. Especially at the present retirement age. In fact, retirement as we know it today is a relic from a time and a world that have long passed. In the context of our modern age and economy, conventinal ideas about retirement are not only inappropriate but they are counterproductive. The concept of retirement is hopelessly out of touch with our times. We have to liberate ourselves from it. We are subjected daily to messages that pummel our brains with warnings that we should save more if we hope to leap off the economic cliff known as retirement date. And many of us have been convinced that we want to jump off that cliff earlier – if possible, much earlier. But do we really want to quit working? The movie “About Schmidt” shows the failure of the traditional retirement model in a fantastic way.
  5. 5. Sadly, because so many people are working in jobs, industries and offices they People in these circumstances – and there are many – should stop and thinkhate, they have convinced themselves that the answer is the end of their working about the tragic schizofrenic story that they drive themselves in a career theydays (retirement). But the fact remains that they wouldn’t be obsessed with the despise, they are running on tires with a slow leak. The ride gets rougher and toug-idea of quitting if they were doing what they wanted with their life in the first place. her until they find their aspirations in the ditch and little energy left to begin a new journey.Many people think that the answer is to quit working altogether, because theydon’t like the working circumstances they find themselves stuck in. This is akin to The same could be said for those who have a lukewarm approach to their work.getting a frontal lobotomy simply because of a headache. Many others want to Such a tragic story results in a lack of growth, a lack of incentive and mental appli-quit what they are doing now to be able to do something else; they need or want cation and compromised energy levels. Inferno all written over it. When this tragica change but are convinced they need a mountain of money to make the switch. story becomes our life, we are well on our way to a life and career of underachie-So they decide to postpone their dreams, assuming that when they do finally ac- vement.quire the required money, they still have the desire and drive necessary to followtheir dreams.
  6. 6. 2 Artificial Finish Line; The Clint Eastwood
  7. 7. 2 Artificial Finish Line; The Clint Eastwood Doing work we despise or being in circumstances we deplore depletes our spirit. The reason so many find themselves in such life stories is because they have been sold on a myth about retirement that is flawed to the core: The myth that we should do what we do not enjoy to accumulate the money we need to someday do what we want. This hope of doing what we want is why the myth of retirement is alluring to so many. Being trapped in a job and life you don’t love with retirement someday as the only salvation. Many individuals are not in the career race they want to be. They are getting to the age of 65 with a mountain of money as the only way to get in the race. The problem is compounded when we realize that we have been convinced to run toward an artificial finish line in a race that was never meant to end. This artificial finish line is age 65, or whatever age you believe you should retire. The race is the employment of our skills and ideas as long as we still enjoy using them. If we truly love what we do, although we may slow down our pace or chan- ge the event we run in, we never quite truly quit the race.
  8. 8. We embrace our work and life with passion. It doesn’t feel as work that way. And why have so many people given their life to work they don’t enjoy? The re- ason is simply because they need the money. Why do they need the money? So that they can have enough to retire and do what they want. Great! We sacrifice 40 prime productive years so that we can have free reign for the autumn and/or winter years. Although you may not have heard much about it, those who do get to the magic retirement age and drop out of the race are not altogether happy with their de- cision. They do it, however, because they felt as though they had. Disillusionment rates are sky – high for retirees. According to one survey 41% say retirement was the most difficult adjustment of their life and most still struggle with the monotony, boredom, lack of purpose, and lack of intellectual stimulation that traditional reti- rement offers. Clint as a grumpy retired man... There is a good reason these retirees are not happy – RETIREMENT IS AN UNNATURAL IDEA. The concept runs contrary to the preservation of the human spi- rit. Most people don’t really want retirement as we know it. What they want is free- dom to pursue their own goals and interests. They want to call their own shots. They want to do what they want, when they want, and where they want. They want change from the rut that their life of employment has become. We have been told that the right amount of money alone can buy that emancipation. And that’s why we are so vulnerable to the messages that tell us we need Euro 2 million to set ourselves free. But this simply is not true. This travel guide in Rome and Florence is full of examples of people who are living the life they want - today - and not all have a million euro’s in retirement plans. Because of twisted myths about retirement, we have put the money cart ahead of the “life” horse.Clint Eastwood is still directing, acting and teaching – while being in his eighties.
  9. 9. We say we are saving money so that we can someday have a life. But in the pro-cess we are delaying having a life so that we can scrounge up enough money.Too many people wait too long.With some financial creativity and a new story regarding retirement, you can bothfind and fund the life you really want – if not now, it’s entirely possible within thenext five years. Achieving emancipation from your present job and the transitionto your dream job will involve thinking, negotiating your lifestyle, life story and finan-cial habits, and finding a way to put first things first.First, decide the path you must take to do the work you love, and, second, puttogether a plan to pay for that privilege.We must adopt a more resourceful approach if we hope to make the transitioninto a life of doing what we love.
  10. 10. 3Illusions; Grumpy Old Men
  11. 11. 3Illusions; Grumpy Old Men Strangely enough, millions are in a mad rush to the place where tragic people live – on the sidelines. Many of us, however, have already seen enough of our parent’s and forerunner’s retirement stories to know that this is not the life for us. We have figured out that our life will be one of challence, relevance, stimulation and occu- pational adventure. We are not interested in finishing! Once people get the money they need, they are able to better understand what the money is all about – liberty to do what they want when they want. What is the point of using that kind of liberty to do nothing but play golf? It’s hard to convince someone who doesn’t have the money that it really is not about the money. It’s about doing what you love, doing what you want. It’s about balancing work and relationships. This point became especially clear to Peter recently when a friend asked him if he had plans to retire early. He thought about it for a moment and then it dawned on him. He likes what he does! He writes, speaks, consult with companies on how to tell powerful stories. Why would Peter quit doing that? If he did quit, he would be- gin to self destruct. The realization was important because it helped him to realize that he no longer had to be concerned with having any specific amount of mo- ney at any age. There will always be something or something for Peter to do and he will always enjoy it. You don’t make plans to retire from your passion in life! Does this idea of not retiring from your passion cause you to spend away your future and disregard the value of your assets? To the contrary! Because you – we – value freedom so much, you - we – exercise the necessary discipline to maintain it. Peter knows that he is just one foolish purchase or investment away from reatta- ching the chains of miserable employment to his life. There is wisdom in balance. Just because he loves what he does does not negate the need for Peter to plan for his financial freedom.
  12. 12. Does this idea of not retiring from your passion cause you to spend away your future Two types of people should forget their plans for complete retirement at a definedand disregard the value of your assets? To the contrary! Because you – we – value age - those who can’t afford to retire at that age and those who can afford to re-freedom so much, you - we – exercise the necessary discipline to maintain it. tire at that age. Age is an artificial finish line of 60, 62, 65, 67 or whatever. A mode- rate measure of success seems to be how many years you can retire ahead of thePeter knows that he is just one foolish purchase or investment away from reatta- retirement age. Is accelerating your pace into boredom really such a good idea?ching the chains of miserable employment to his life. There is wisdom in balance.Just because he loves what he does does not negate the need for Peter to plan Those measures are about to change. If the coming generation of 50+ has any-for his financial freedom. thing to say about it, those perceptions will be turned entirely on their head. Those who have to work will not be the losers because they are still in the game and theyLife can present us with vicissitudes that can radically alter our course: disability, a will find that work keeps them vital, involved and healthier. Those who will be abledeath in the family, divorce, lawsuits and so on. We must plan ahead financially to drop out entirely will choose not to because they don’t want to enter a slowbecause we change our minds over time. What invigorates you today may bore track of intellectual atrophy, boredom and monotous a decade from today. Savings are necessary to purchase the freedom tochange course when we want. We are still in the early stages of a New Retirement Story – a modern story of what retirement really means. People are still haunted by the old rules and media hype that bemoan their lack of preparedness to reach the artificial goal line. You can’t seem to get away from the news stories and advertisements that beat this sorry old retirement horse to death.
  13. 13. 4 Stories and New Realities; Old Sean Connery
  14. 14. 4 Stories and New Realities; Old Sean Connery The old retirement stories inspire urgency and thrift; for many they inspire only fear, self – loathing and hopelessness. Such stories as “You won’t have enough” or “You have a retirement income failure” create a sense of dread and failure in people. For the millions of people who don’t own a fat nest egg these stories stir feelings of hopelessness because they are convinced that they will arrive at the retirement age leap with no safety net. They know they will never be able to amass the small fortune that “retirement experts” tell them they must hoard to have anything but a beggar’s sunset in their life. The old retirement story, as painted by the financial services industry, is truly a dou- ble headed dragon, because the story that had been promoted for the last 50 years is not only an illusion but it is also unrealistic. Why is it that people who can afford to retire - like Sean Connery- just don’t do it? The illusion has been that of sipping tropical drinks on a Caribbean beach, dan- cing in a ballroom, going on cruises and playing golf for the rest of your waking life. “All this is yours” once you retire, and the earlier you retire the better. Possibly you have met people who have swallowed this illusion and are living with the han- gover of boredom and purposelessness in their life. I have met many such people and the look in their eyes inspired me to tell these New Retirement Story travel tales.
  15. 15. True, many people could save more as well as exercise more financial discipline. But why should many people that is doing its best with what it has walk around fee- ling bad about today because it cannot reach a tomorrow that somebody else has defined for it? Two problems are apparent with these pervasive and frequently scare stories from the financial services industry. First, they can be easily disputed and disproven. Second, these arguments are founded on a fabricated and now crunching story foundation – that is, we should retire at age 62, 65 or whatever age. And even ear- lier if possible. Most of us will not completely retire at 62 or 65 or whatever age for that matter. We, as a generation, are not interested in artificial finish lines.Many who bought the story of retiring from the race find themselves bored withnot being in the race. Many have found that this boredom has led them to self –destructive patterns of behavior. Many have accelerated their aging process asthe chains of disenfranchised habits grew heavier and weighed on their health. Itall adds up to one inescapable conclusion: Retirement is an unnatural condition!Even if you can afford to retire, the worst thing you can do is withdraw completelyfrom the race.When you ask retirees how they’re doing, they often reply, “I’m keeping busy.” Thisis an acknowledgment of the activity void that retirement had brought. They aretruly happy when they are busy doing what they love.If they are not busy, they are most likely not very happy.The story of retirement that we have been sold has simply been untrue. Accordingto surveys 40% of retirees report that retirement was a difficult adjustment. Thereason for this is simple: retirement as it has been defined for us was never meantto be. Retirement is an illusion because those who can afford the illusion are disillu-sioned by it and those who cannot afford the illusion are haunted by it. Sean also didn’t retire being Robin Hood. Because Passion Never Retires!Which brings us to the dragon’s other head; many people cannot afford to retire inthe manner that has been promoted by the retirement savings industry. It is simplyunrealistic for many to find a way to put away enough money to have a millioneuro’s waiting to serve them on retirement age.
  16. 16. 5 Do Babyboomers Break the Existing Rules about Retirement? Catherine Deneuve Real Heroes and Heroinnes Never Retire.They plan their lives and live their dreams at any Age they want. Starting NOW!
  17. 17. 5 Do Babyboomers Break the Existing Rules about Retirement? Catherine Deneuve Only a fool would utter the words ‘babyboomer’ and ‘victim’ in the same senten- ce. The baby boomers have never been victims and simply will not tolerate being victims in retirement. To the contrary, as they have always done, they will break the existing rules and make their own rules about their future. Thought she may be over France’s retirement age, Deneuve has been hard at work with roles in the musical The Beloved and the latest installment in the big screen Asterix and Obelix series. In honor of Le bon Marche’s 160 birthday Cathe- rine Deneuve will feature in a series of illustrations in the store’s windows from sept 8 to oct 6th 2012 depicting her on her favorite Left bank haunts. For her Paris’ Left Bank symbolizes relaxation, freedom, fantasy... being able to go from the Café de Flore to the Pantheon cinema and buy a book on the way. – The Hollywood Re- porter. Let’s not forget which generation got the vote at 18, told the world to end a war, delayed marriage and childrearing, and spurred the greatest economic growth in history. There is strength in numbers – and the numbers are on the side of the babyboomers.: • The babyboomers control 80 percent of the savings money., they own two thirds of the value in investments and annuities. 50% of all retirement plans and 40% of all mutual funds. In total it controls over 70% of all private wealth in the western world. Money is power. • Who votes more than any other group in elections? The 55-85 age group. There is power in numbers.
  18. 18. Deneuve in Asterix & Obeliks From research in babyboomers and their wishes concerning retirement we see the following five categories: 1 I want to work as long as I can – doing what I do know (15%) 2 want to become an entrepreneur (26%) 3 want to find a new job (34%) I 4 I want to find some balance between work and life (10%) I 5 I want the “traditional” retirement (15%) We will visit this more in depth later in our journey. For now, suffice to say that we have looked traditional retirement in the eye and have rejected it outright. – that is, all but about 15 percent of us. (While 100% off the stories and offers of financial services companies is directed at the needs of the Traditional Retirement group) People have often referred to retirement as “getting out of the race”. The fact is that we no longer want out of the race. We simply want to run at our own pace. We want to make the decision whether we run, jog or walk. And most important, we want to run on the track of our choosing. This is the New Story of Retirement. It has become clear to most of us that we don’t want “Our father’s reti- rement”. The only thing that needs to be retired are old ideas about retirement.
  19. 19. 6The Great Retire Myths; George Lucas, Star Wars
  20. 20. 6The Great Retire Myths; George Lucas, Star Wars This part of the journey in Italy introduces and deconstructs the myths that have led to both dissatisfied retirements and the anxiety – ridden pursuit of a retirement dream. When you have finished travelling, I hope you will have a more realististic story of what you want from your money and your life. You will be able to go to sleep at night knowing you not longer have to worry about being able to jump off an economic ledge at a predetermined age, and you will be able to wake each morning with a continuing sense of purpose for each upcoming day. Here are the myths that have ruled the concept of retirement up to the present: • Age 65 is old. • Being retired means you’re not working • You have to retire to do what you really want to do. • Retirement is an exclusively economic event. • A life of ease is the ultimate retirement goal • You cannot do it yourself. Let us look closer at these Retire Myths and take them apart.
  21. 21. 6AMyth; Sixty-Five is Old Helen Mirren Old ain’t what it used to be! Remember when the age for retirement was set: most people didn’t even live until retirement age. Now we live 20 to 30 years past the re- tirement age. The age of 65 in this day and age has little resemblance to the age of 65 in for example 1970. The behavior of men and women in their sixties or seven- ties in Italy like Sophia Loren, Umberto Eco, Benetton may well serve as portents of the active lifestyles in seniors of the future. It is ironic that our society, rather than adjusting to this longevity trend, continues to promote a retirement age that was established over 100 years ago when people lived to the ripe old age of 46. Even more ironic is that many have convinced themselves to take up early retirement. Many of these people have failed to com- prehend that if they retire at 55, for example, they will spend as many years in their retirement as they did in their entire working career. This is great if you have some invigorating and challenging pursuits before you in those 30 years. If you don’t, history shows that you’ll never see those 30 extra years. How old will you be when you really become old? It seems that the answer to that question is as individual as the person answering it. We know that the marker for old is no longer 65. Some recent survey shows that most seniors now feel that the marker for old is somewhere between 75 and 80. Expect that number to keep moving up with the babyboomer generation. In Italy you will meet heroes and heroines of all times who have not bought into the idea that they need to move aside for the next generation – or anyone else for that matter. They will leave the race when they are good and ready!!
  22. 22. Helen Mirren; rolmodel voor een actieve levensstijl van 60+ in de toekomst.
  23. 23. 6BRetirement Means Not Working The retirement of the future will not longer be a “cold turkey” or “exile” retirement. The retirement of the future will be defined by one person – you! You will decide how much you want to work, where you want to work, and when you want to work. The growing trends in the New Work flexibility spell only freedom for you and your future. People will design a retirement they can live with. This will mean working part – time for some and entering and exiting the job market as they wish for others. The two extremes of the old retirement model – all work or no work – is simply a relic of the past. In this journey through Italy we explore the manifold possibilities for you and your work at any age.
  24. 24. 6CMyth: You have to Retire, to Do What You Want to Do Millions of people are sacrificing the present in hopes of following their heart when they retire. Many people who want to pursue a passion or a new focus see this as their only hope. We have discovered many other options which heroes and heroines in Italy of past and present have exercised to free their life from the drudgery of draining and stressful toils to a dreamjob they had previously entertained only in their day- dreams. There are many creatieve approaches available that you may have not yet con- sidered – approaches that you integrate your assets and your income with your passions and your life. Is your life about making money or is your money about making a life? A theme that is strongly promoted in our society is that we should always choose the path with the most money. Consequently, many people put their passions on the back burner while they travel a career path with the most money. Why? So they can someday have enough money to do what they really want.
  25. 25. This flawed story of putting first things second in our career and life is the reason whyso many today are so motivated to retire, that is, so that they can do what they want.They have chosen to use their life to make money rather than to use money to make alife. By using some innovative approaches to financial life planning, you can make thetransition into what you want with your life.This travel guide of Italy provides stories of those who discovered what it takes to dowhat they want with their life – sooner instead of later. Many of these people havefound work that feels like play. They are doing the thing that comes naturally and aregetting paid to do it! With proper planning and prioritization and making some Test-drives in Your Dreamjob -, you can liberate yourself into a fulfilling pursuit of your un-charted passions within five years or less. All you have to decide is.. what you want tobe when you grow up.
  26. 26. 6DMyth: Retirement is Exclusively about Money; Citizen Kane This implication has been the biggest mistake of the retirement savings industry. The idea that retirement is simply an economic cliff for which we must have a para- chute ready at retirement age has been the primary motivational message the industry has offered for the last 40 years. The problem is that many people are preparing a golden nest egg that will be placed in a dying tree. The nest egg is their retirement savings and the dying tree is their retirement life. Retirement is a life event, not an economic event. We must stop treating retire- ment as an exclusively economic event. We need to develop a more holistic ap- proach that integrates an individual’s aspirations, life stage, familial responsibilities, health issues and concerns about money. People want to explore the connection between their life, passions, work and their money as a whole.
  27. 27. 7You don’t want to Spent Most of your Retirement on Docters, Pills and Caregivers; Intouchables
  28. 28. 7You don’t want to Spent Most of your Retirement on Docters, Pills and Caregivers; Intouchalbes This universal assumption on the financial burden of healthcare in retirement is going to be turned on its head by evidence that if you plan a healthier and enga- ging troisieme age you will spend much less on doctors, caregivers and pills. Bored retirees form bad habits. Purposeless retirees are sick retirees. Unchallenged retirees have no motivation to exercise their body, mind or spirit. There are beau- tiful stories of evidence regarding the physical well – being, mental acuity and health care expenditures for challenged versus unchallenged retirees. The proper story, attitude, approach and behavior to our later years will result in healthier economics and more happiness as well.
  29. 29. 8A New Retirement Story; Sophia Loren
  30. 30. 8A New Retirement Story; Sophia Loren We need a sexier story about retirement. It doesn’t fit anymore. Retirement has been built on myths. The story of retirement is going through slow but legendary redefinition. For 85 percent of us, it’s no longer about dropping out of the race. It ia a chance to refire, relaunch, re-vive la vie, anything but retire. It is our opportunity to capitalize on everything we have learned about work and about life. A failure is a person who has blundered and not been able to cash in on the experience. We need to begin to call retirement and retirement savings what they really are: a second chance and emancipation money. Many of you are simply looking for- ward to launching a brand new you. Many of you want to try something out of the ordinary. Many or you want to play around with ideas you had for years. Many of you want to hunker down with loved ones and simplify your life for the time being. The reason no one else can define retirement for you is because it is a story about your life and your dreams. My goal for you in this travel guide of Italy is to take yourself through one simple mental exercise. Ask yourself this one question. “What if there were no finish line?” How would it change the way you live today and plan for tomorrow if you stopped running toward the artificial goal of retiring at a pre-determined age? Remove this finish line from your mind, your life and your story, and it will liberate all.
  31. 31. Disentangle yourself from retirement myths, and deal with life’s realities. Once thefinish line is removed, we are left to ponder our present realities and future hopes.We will stop sacrificing the present to pursue an illusion of happiness in the far fu-ture. We will begin to focus on doing work today we love – our dreamjob – that ca-pitalizes on our talents and gives expression to our passions. We will begin our questto find work that feels like play.A strange phenomenon that is hard to explain is how money seems to find its wayto those who follow their hearts and pursue their interests and passion. Somethingelse comes your way when you follow your heart – flow and happiness – and that’sa precious Italian Dolce Vita that no money can buy.
  32. 32. 9End of the Work/ Retire Ultimatum; The Expendables
  33. 33. 9End of the Work/ Retire Ultimatum; The Expendables The babyboomer generation was followed by a birth dearth that is going to place an even higher premium on senior working skills for the next 20 years. Talent shorta- ges may become a fact of life. By the year 2020 there will be fewer people aged 35 to 54 than we have today. The law of supply and demand may be moving to the side of the ‘talent’ for many years to come. What this spells for the individuals looking forward to working retire- ment years is the ability to write their own ticket in terms of job flexibility and res- ponsibilities. Your workplace will need you experience, and it will grow increasingly willing to let you work on your terms. As stated earlier, two things must change to extend our working lives; those things are our story and the story of our corporations. Having read this far in the travel guide of Italy we hope you are convinced that work will always be an integral, even if reduced, part of your life. Our corporations are beginning to see that they will need to change their attitude and culture toward an aging workforce if they hope to compete in the next decades. Companies that do not begin to respond to the new age working realities are in for a rude wake-up call. The models of hiring, developing, and retiring employees that have worked in the past will backfire if used in the next decade. Two simple facts point to this looming employer crisis. First, the baby boom gene- ration, the largest segment of the workforce is aging fast. Second, the shortage of young talent is growing more accute with each passing day. These unstoppable demographic trends will have very profound implications for how companies ma- nage their people. These trends will force companies to: • Rethink how they attract and retain people. • Change how they motivate and reward their help. • Work out how an aging workforce will affect innovation and productivity. The companies that begin to adress these demographic realities and begin ca- tering to the valuable, but aging employee will thrive in the coming years as they attract the best talent available. Employers are beginning to feel the first tremors of a talent shortage that will reach “workquake” proportions within the next 20 years.
  34. 34. 10 The Talent Shortage; Star Trek
  35. 35. 10 The Talent Shortage; Star TrekDuring the 1990s the number of younger workers declined by 14 percent becauseof the lower birth rate that followed the baby boom of 1946-1964. Coinciding withthe shrinkage of the pool of younger workers has been a workforce that has grownonly 1.5 to 2 percent over the last 20 years.When you look at these two trends together, the picture you get is that the 1990ssaw a 30 percent shortage of younger workers and the coming decade will see aneven greater shortfall. This trend will continue for the next few decades as Genera-tion `X ages.The obvious good news for you is that there just won’t be enough young talentavailable to fill your shoes should you be inclined to leave the workforce in the next20 to 30 years. Employers are going to have to make changes to keep you aroundfor a longer period of time. Unitl recently, companies could afford to let older wor-kers walk out the door. Now, with the beginning of the boomer aging trend, com-panies have nowhere to turn to but the current worker.Attracting and keeping the top talent is already a major issue for companies thatare fervently competing for the skills of available younger workers. As the resourcepool of younger workers begins to dry up, employers will begin to look to the ranksof more mature people aged 45 and older to fill the vooid.
  36. 36. All the existing paradigms about work, reward, advancement, motivation, andpersonal growth will have to change to attract the much needed 45-year old andolder employee.The carrots that attract and retain a 24-year-old may not necessarily trip the triggerof a 48-year old.If companies want to attract the gray-haired crowd in the future they will haveto deal with some prevalent ageist biases today. Business today is characterizedas high performance and innovative; and these two stories conjure up imagesof youth. Are high productivity and innovation the exclusive mindscape of theyoung?The acceptance of the story about the link between innovation and youth is sostrong that many employers will need to create innovative cultures that are ageirrelevant... They will need to create cultures that engage people and motivateperformance regardless of age.
  37. 37. 11 The New Retirement Story; The Joy of Life Long Working & Learning
  38. 38. 11 The New Retirement Story; The Joy of Life Long Working & Learning As many babyboomers begin to enter their 50’s and realize they may be able to retire, they will have to grapple with the story of whether they will be happy doing little work or doing no work. We need to come to grips with the significance that work brings into our life. Rather than viewing retirement as a cold turkey exit from the working life or a jump from the cliff of employment, we need to view it as a transition. The transition ramp may be a gradual decline of hours spend working. It may be into ramping up into free agency or another career. Why do so many retirees come back to work soon after they retire? Obviously they miss the significant aspects that work brings into their life. When it doesn’t feel anymore as work. When it feels like play, learning, being of meaning, developing oneself, joyful encounters. Why do over 85% of the babyboomers in the world say we want to continue wor- king in some way, form or shape? Because we realize for all that we give to our career, enterprise, dreamjob... it gives something back to us. When we strip away the inavoidable annoying personalities and the inavoidable frustrating tasks that our current career offers, we realize that our dreamjob can provide great intangli- ble rewards to our mind and spirit; camaraderie; shared victories and disappoint- ments; identity, the adreline rush of the chase, building something out of nothing; being of significance for others, getting from concept to reality (like Michelangelo as sculptor, painter and architect of the Saint Peter’s Dome) and a sense of ac- complishment.
  39. 39. The end of The Shawshank Redemption:They Worked Happily Ever After...
  40. 40. 12You are as Old as you Tell Yourself; The Best Exotic Marigold Hotel
  41. 41. 12You are as Old as you Tell Yourself; The Best Exotic Marigold Hotel How old is old? What exactly do we mean when we say someone is old? Are we referring to the person’s years on the planet or the person’s state of being? Or both? By old, do we mean that a person is in a state of decline? Is there a predic- table age when this decline commences for all people? Is ‘old’ a manmade bor- der? And do the dragons of decline exist mostly in our mind? The cornerstone of retirement is the premise that a person is old at 65. Or 63. Or 67. When retirement was invented, a person could expect to live a few months to a couple of years past the retirement age. It is safe to say that, at that time, 65 was old. Today, however, if you retire as a 65 year old, you can expect to live another 20 years. Where does your marker for old fall? 70? 80? 90? We, as a generation, are a people obsessed with youthfulness and longevity. Most of us have no interest in becoming old. Although some choose only superficial fixes to delay the ascetic signs of aging, most of us are interested in the internal and lifestyle fixes that will delay the process of aging and becoming old. As it turns out, one of the greatest enablers of the aging process is the old wornout story of retirement. Girl Power Never Retires If not put to use, the fruit extracted from the vine will simply rot. For many, the date of retirement is the date of extraction. We will explore the beneficial stories about successful aging. The stories of those who live and breathe these truths in their later years. We have studied people who thrive late into life. We have read numerous biograp- hies of people whose life and careers outlasted their peers. We searched for the intangibles that these people had in common. The common thread through all these stories is that they outlasted their peers not only in longevity but in usefulness and purposeful living as well.
  42. 42. One of their common traits is their stubbornness that led them to not giving in tosocial norms and expectations. It is a story that tells: “No one but me will definewhat my life will be”. Such stories seem to be carried by those with a strong inde-pendent streak who, at times, seem as though they have something to prove. That‘something’ they have to prove seems to be that age shows up in the mind be-fore it shows up in the body.Other characteristics apparent from the stories of the heroes and heroines are theirready wit and lively sense of humor – especially regarding themselves. That thoseexhitbiting longevity seem to share a self – deprecating to life tells us that such anapproach is crucial to reducing stress. The connection between stress and illness iswell established. The connection between one’s story – the one you tell yourself toyourself about yourself – and stress level is obvious. Most heroes and heroines wereforward looking and concerned about the present moment and the future. Mostrefused to succumb to society’s limiting views of age related behavior and activity.They were people who truly believed they could control their own destiny.Retirement today puts people on society’s back burner and tells them they shouldbe happy to be there – but many are not. Many of those in retirement want to bepassionate about their life and jobs. They want to shine. Love and work are essenti-als in human life. As Italians know better than anybody.What do these Italians know? They know how to live and age well. A sense ofmastery is important. Individuals must believe in their ability to influence eventsand control their outcomes to be positive and productive in their later years. Whatexact is personaly mastery? It’s self – reliance.A person who takes a passive approach to life and lacks the ability to take actionwill experience a lack of productivity at any age. Typically, as people age, theirbelief in their abilities and their power to control their own destiny grows. However,this belief can, if allowed to do so, reach a point of diminishing returns.If people are willing to try new things in their mature years, their self reliance andeffectiveness can flourish to all time highs. Stories about people creating newboundaries in their life in their later years.Bored in retirement is just one of many stereotypes that today’s retirees are stri-ving to change. They have very strong objections to other ideas that people haveabout their age group like:• Their intellectual abilities are diminished;• Their activities are greatly limited by physical weakness or poor health• They don’t really want to learn new things or start their new activities• Their opportunities to make a difference are mostly behind them.• They are just interested in leisure activities like golf and bridge.
  43. 43. The New Retirementality means we keep ourselves connected to the community There are people who feel old at 37. That aged feeling is the composite story ofand the world around us. We do not stop doing what we love. Retirement doesn’t their habits, attitudes and approach to life. There are others who feel young andmean we ‘re tired of living or absorbed in our own decline. Passion doesn’t retire. energetic at 75. If old were strictly a matter of age, this paradox would not be pos-The flow of activity can someday slow to a trickle but it will not turn off. We can sible. Flow, flow, flow in every activity you do, the joy of a life long learning and selfstay engaged to our dying breath and by virtue of being engaged, we will pro- confidence all play major roles in successful aging.long that breath for many years. One way to keep this powerful internal story alive in our life is to continue being en-Aging has far less to do with our age than was previously thought. The longevity re- gaged in work and life activities we love, which place a demand on our physical,volution is not exclusively attributable to medical breakthroughs, although they are mental and creative abilities and offers uw flow experiences. As more and morefoundational to longer living. This revolution is also the result of people awakening people discover they are not as old as society tells them they ought to be at ageto the self – responsibility aspects of aging. They are discovering that by forming 65, they will continue to be engaged in work and society. They will be rule breakersand following healthy habits physically, mentally, socially, occupationally they can and rule makers. Their pace may slow some, but they will still be in flow.not only increase their years but can multiply happiness in life as well.
  44. 44. 13Passion Never Retires; Cinema Paradiso
  45. 45. 13Passion Never Retires; Cinema Paradiso The modern retiree has no patience with aged stereotypes about aging and is establishing new cornerstones for a redefined retirement living. The new story of retirement overwhelmingly advocated by today’s retiree is one that emphasizes activity and engagement over leisure and rest. They view retirement as ‘a time to begin a new chapter in life by being active and involved, starting new activities and setting new goals’. It is time to break out of the cocoon, not go into one. Only a minority preferred the traditional retirement story as “a time to take it easy, take care of yourself, enjoy leisure activities and take a much deserved rest from work and responsibilities. It is important to note the diversity of the group that embraces this new story. It ap- peals equally to men and women, liberals and conservatives, people in their 50s as well as people in their 70s, people who are limited by physical or medical con- ditions and those who are not. It is an especially appealing definition to the better educated and higher – income people. We see a new story about the age and life stage of 65 plus. Why is it that when we talk of the maturity of money, we think of it as a positive form of growth; but when we talk about the maturity of people, we think of it as a time of depreciation? There are many examples right out there of people with a great harvest of ac- complishment and contribution coming after the age of 65. We just need to take notice. Do you now see the need for a new story and new name for this stage of life? Other than retirement?
  46. 46. 14You Don’t Have to Retire to Do what you Love to Do
  47. 47. 14You Don’t Have to Retire to Do what you Love to Do Why don’t you do what you love for money? We asked this individuals. Many pointed inevitably to a set of values that led to the story: “Choose the path paved with the most money”. They had contempla- ted their heartfelt desires many times, but those passionate desires to pursue their dream were mentally dismissed because they would prove not to be materially substantive. These individuals often admitted feeling disapproval and sometimes heard vocal disapproval from family and friends on those rare occasions when they did articulate their heart’s desires. Material compensation (need to pay the rent of this beautiful house) was the be-all and end-all of a career decision for many of these people. What many later discovered was that by not working with their passion, they ended up in a golden cage. When the path was chosen on the basis of material compensation of obliging others, many said that by the time they realized that they may have traded a cal- ling for a job, they were so far down the one – way street of material reward that turning back or leaving that path would be too materially painful to contemplate. Their obligations now demanded money, and to change in midstream would cau- se too much stress. So the life that might have been was put out of their mind in hopes of feeling more happy with the life that was. Many of these people planned on doing what they really wanted when they reached retirement age. When they could afford it. What do you what to do when you grow up? Its inference is that we have not yet grown up until we express our heart and soul through the work we do. Every hero finds its own story, its own expression. Everyone discovers his or her own sense of meaning. Discovering meaning in work and life is an highly personal process. The question that we all need to ask is ‘what is it that I do that gives my heart the most pleasure’. When we find the answer or answers to that question, we have at least discovered the path we should be on.
  48. 48. A common tragic story lies just below the surface of many individual’s careerchoice: you must sacrifice happiness in work in varying degrees to have materialgain. This subtle myth reveals itself by the fact that people1 choose to stay in careers they do not enjoy because the pay affords them the 2 postpone the things they really enjoy to a distant retirement date material status they desire, andThis tragic story is impregnated with deceptions as “I need to continue doing whatI do not enjoy in order to gather enough money to be able to do what I enjoy.” Infact, money is the chief motivation for many people who are saving for retirement.They see retirement as the time when they can do what they want. This story reve-als that material gain and status has been set as the mission on their life compass.They see retirement as the time when they can do what they want.Those who say they hate their work but stay because the money is excellent do thisbecause:1 They have chosen to put their dreams of achievement and maybe even their 2 most important talents on the shelf Their life and health more than likely suffer from some imbalance as a result of 3 misplaced priorities Their relationships may be suffering at home and at work because of their lingering distaste for the work they do (it is emotionally exhausting to spend 4 energy on work that drains rather than energizes you) Because they don’t care to identify with their work, they may identify with and affirm themselves through the things they buy.One does not have to be feeding children who are starving or performing openheart surgery to be involved in a meaningful career. The definition of meaningful ispersonal. For some people it means doing something that has a direct impact ontheir well – being. For others it is being part of developing and distributing a pro-duct that has impact on the lives of others. For some, it is a matter of doing some-thing that connects them to a cause, idea, or purpose they love.It’s a matter of deciding what interests you most and where your skills and interestscan be utilized. For some, this story may lead to a career change, and for others itmay simply lead to a change in career circumstances (continue doing what theyare doing but in more tolerable and less stressful circumstances).The New Retirement Story is:• Finding work you can do until the day you die• Keeping your priorities straight regarding work and pay• Fully capitalizing on your gifts in the work you do
  49. 49. 15 More than Money; Dances with Wolves
  50. 50. 15 More than Money; Dances with Wolves We would all do well to pause for a moment from our work and make a Dance with Wolves that can free us from feelings of futility, frustration, insignificance and even failure. We lean against the door of the Pantheon by asking ourselves what we must do to bring a greater happiness in our working life. Once that door is un- locked, everything else, including our material management, can be ordered in such a way as to accelerate and accommodate that happiness. What can you do to rewrite your story in a ‘they lived happily ever after’ one? You can begin this rewriting by following the following three steps: 1 Decide what is going to take to define ‘happiness’ in your life 2 Begin looking at innovative ways to use your resources (money, time and ability) to purchase the life you want 3 Partner with those people who can help you articulate and achieve your goals Deciding what it will take to define ‘happiness’ in your life. Looking at innovative ways to use your resources (money, time and ability) to purchase the life you want. Partnering with people who can help you articulate and achieve your life goals. You cannot achieve happiness simply by a job or a certain amount of money and material possessions. Happiness, fulfillment, balance, satisfaction, security, significan- ce and success should not be the by – products of our life: they should be the goals! When we just focus on money or work or leisure at the expense of other areas in our life, we deny ourselves the happinees that comes from doing what you love. Remember, your life is not about making money – your money is about making a life.
  51. 51. In this travel guide of Italy we present stories of people who are happy because You can get this life and you can keep this life by becoming more resourceful withthey do what they love on a daily basis. In work. In other areas of their life. These the resources you have.people are living happy lives. They are pursuing their goals and their lives are nowin balance. They feel they are making better use of the time they have, and they What difference – however – will all the money in the world and financial planningare making a difference in this world – and keeping a sense of balance in the pro- for the future make if we have no idea what kind of life we want to purchase withcess. They live a meaningful life. those finances? Money has no value in itself. Money is only useful in terms of whatThe one catch is that they had to get both their material and their internal affairs in you can do with it. Just as important as saving for the future is having some kind oforder to make this hero’s journey to a happy life possible. story of what that future will be. An inspiring story of what you might be and do if you were financially emancipated must accompany all the number crunching ifOnce the internal story gets pointed in the right direction, the next step is to take you hope to have a successful transition into whatever your next phase of your lifean innovative, diligent, and resourceful look at your financial situation and the pos- may be.sibilities within it. The good news is that you don’t have to be rich to live the life youwant and do the work you love, but you do have to get organized. You may be in Millions are saving for what might be a 35 journey with absolutely no idea whatposition today to create your dreamjob. Or it will take five years and several Test- that journey may take them. These individuals will have a ticket but possess no tra-drives. vel guide.You don’t know until you try, get some assistance, set your goals and define howyou’re going to do it. Although your freedom to make a transition depends on having your financial story in order, it also hings on much more than financial factors. Many retirementsThe reward is a lifestyle that allows you to see every day as fun, fulfilling, loaded are less than wonderful and happy for the simple reason that preparation waswith opportunity and full of flow experiences. If you’re living that kind of life now, focused on only the financial aspects of retirement with little or no regard for theyou simply need to financially ensure it will continue. issues, stresses and challenges of a radical life transition.
  52. 52. This fact is beginning to be recognized by the financial services industry: We are assuming, because you have read this far, that you have already settled in your mind some basic new story about retirement namely:• The picture of retirement is changing dramatically• Consumers must become more responsible for the success or failure of their own • Retirement at any particular age is an outdated concept retirement • The age at which to retire or the decision to retire at all is based on an inner de • The financial services industries must do a much better job of educating the sire and not outer resources public about the features, possibilities and parameters of this new retirement • Work can and should be an expression of one’s heart and a means for making a Financial planning in the 21st century is going to be more about personal issues meaningful contribution to the world we live in than about financial issues – it will be about generating a new identity, a new • Much of the aging process hings on choices we make regarding activity, you, for a new phase of life. Although money is a primary concern in this new involvement and attitude phase of life, it is just one of many. Babyboomers are looking for a meaningful • I can do what I want with my life when I get serious about doing what I love with role in their later adulthood. Money is important to them, but so is the quality of my time, energy and resources. life in their retirement.
  53. 53. 16It’s Not Only About You; Treme
  54. 54. 16It’s Not Only About You; Treme Is all that money you’re saving exclusively designated for your personal journey? Or wil you find other obligations laying a claim to some of your retirement savings? To- day’s prospering baby boomers will have more responsibilities to consider than the retirees of the past and may find that those responsibilities provide due incentive to redefine retirement at a personal level. Do I support my children or my parents? My children and my parents? My parents and then my children? One of the responsibilities of increased longevity is incre- ased responsibility for the children and grandchildren. The reality check that a lot of people in their 50s and 60s are now experiencing has to do with the time and attention they must pay tward aging parents. The freedom they dreamed of and saved for was cruising down the road with not a care in the world. This freedom in many cases has been seriously restricted by caretaking responsibi- lities for aging parents. A growing number of these parents prefer to live in theire home, but are frail, in failing health and require increased degrees of vigilance. For many the carefree drive down the freeway has been supplanted by a ride that is interrupted with three calls to the ailing parent a day and an abiding sense of anxi- ety over the parent’s well-being. For others, the day down the freeway has been postponed indefinitely. The Babyboomer’s Crunch A fact of life those of us aged 30 to 55 must face today is that our society’s great strides in longevity will have a long term effect on our economic and life planning. Many of us can plan on having parents living until they are 90 to 100 years of age. Many will be self – sufficient but many will need our time, attention and resources. Here we want to adress the issue of resources for those whose parents may be fa- cing a financial shortfall in their retirement years, our motive being the wide eco- nomic disparity we often see between prospering baby boomers and their mature parents. Many of today’s baby boomers are caught in a crunch between their parents’s longevity and their children’s entitlements. Some people facing this financial crunch between parents and offspring will not be able to support both. To maxi- mize their potential to meet these obligations requires ingenuity, discipline, and a possible new story about retirement living.
  55. 55. The Parental Pension When considering a life transition that could last up to 30 years, or roughly one – third of your life, it would be foolish to consider that journey through a selfish lens. Although financial support for ourselves is crucial, it is no more crucial than otherDo you have a parent whose life would derive a margin of comfort with an addi- considerations that successful living demands. We must consider this story throughtional Euro 300 to Euro 400 per month? Is it in your power or your power combined many camera lenses: a philosophical lens, a family lens, a values lens, a ethicalwith that of your siblings to provide this margin of comfort? Some, whose parents lens, a happiness lens. This is not about a retirement story. It’s about a life story.are subsisting on Social Security, part – time earnings, meager pensions, savings ora combination of these, created annuity – type funds that paid their parent (s) a Our decisions go beyond ourselves. Others are and will be affected by the decisi-monthly subsidy. ons we make. Whether it is our own family members or those affected through our charitable efforts, the decisions we make with our money and life can send ripplesWe like the concept of a parental pension for these types of situations. Many that are felt by many others for many years.would agree that we owe a great deal to our parents for the sacrifices they madefor our benefit. Many of our parents are stunned at the financial opportunities If you have been thinking about your retirement story, start thinking about thewe have access to today. The kind of money we take for granted was rare in responsibility that you believe comes with your money. Your life is bigger than thetheir prime working years, even when adjusted for inflation. Some of you reading balance of any account you own. And the fact that you own it doesn’t mean itthis travel guide in Italy may be inspired to do something of this sort for your own will benefit you alone.parent(s).
  56. 56. The New Retirement Story is:• Using your prosperity to express gratitude for the sacrifices your parents made• Including the possibility of parental aid in your financial story (Euro 300 to Euro 400 a month can make a difference for most)• Making sure you don’t give your children so much that they fail to learn life’s larger lessons about initiative and self – reliance.
  57. 57. 17The Hero with Money; Ebenezer Scrooge
  58. 58. 17The Hero with Money; Ebenezer Scrooge Are you a hero with your money? We are referring to your money intelligence, the logical and emotional factors affecting your personal wealth. Wealh building is not contingent just on becoming acquainted with the particulars of personal finance and investing – although this is half the battle. Getting the necessary knowledge – the financial literacy – is only half the equation for those who want to get ahead. Money intelligence represents both the intellectual and emotional dimension’s of an individual’s financial well – being. It is a concept that not only includes financial knowledge but also an understanding of the emotional and psychological dyna- mics that influence our attitudes and behaviors with money. IQ has long been ac- cepted as a measure of intelligence, and more recently EQ (emotional intelligen- ce) has been recognized as an equally important factor in leading a successful and happy life. In terms of an individual’s financial life, both IQ and EQ contribute to MQ. A high MQ is indicative of those with financial savy, emotional control with money, and an understanding of the proper context of money regarding personal values and priorities.” How many of you know someone who is really smart but really stupid when it co- mes to money matters?” Did someone come to mind? When you are like us, chances are that you also thought of some of the poor de- cisions you have made with or regarding money. Many people are financially illiterate. Most of us were never taught even the basics of personal finance and investing. There is no doubt that a lot of intelligent people make some very foolish moves with their money and consequently their future. The reasons range from ignorance to greed to a lack of impulse management. Ignorance kan be solved with education and advice. Greed is an issue that we will always wrestle with, and impulse management is an emotional issue that can be remedied with planning and discipline. If you are doing well with you personal finances and are ahead of schedule with your money for freedom, then you probably owe it to self-application, good finan- cial fortune and such helpful habits as delayed gratification.
  59. 59. The babyboomers are a generation that has been nurtured on instant gratification. Awareness of money and life stage issues will lead to higher MQ’s and inevitablyCombine this spirit of selfgratification with ignorance of personal finance issues and more happy and fulfilling lives. People simply need to be challenged to sit downyou have the dynamics for highly uncertain futures for milions of people. and think about it.There is a chronic lack of foresight that hinders people from planning financially for Think about it! Just applying yourself to the task of developing proper financial ha-their later years. The solution is to raise the level of their awareness of the issues ma- bits is a greater guarantee of a comfortable life than income level, education andking up financial literacy. We are a generation that could stand to greatly increase occupation. Why? Because you can make a lot of money and then spend a lot ofour MQ. money, make your investments and end up with nothing. Or you can form spen- ding habits that require a never – ending flow of fresh income and hit a brick wallThis is necessary because many people don’t have a clear understanding of the of reality when that flow slows down later on.fact that economic security in later years is the result of a series of money manage-ment decisions made throughout the course of one’s adult life.
  60. 60. 18 Your New Retirement Story?
  61. 61. AWhat is Your New Retirement Story? Visualizing your new retirement story will help you to get a clear story of what you want to experience in the years ahead for you. Choose up to six pictures which fit in your New Retirement Story. Travel To RelaxEen Onderneming starten
  62. 62. Writing `Learning a new Trade Projects around the House
  63. 63. Engage yourself in your commuity Being a Mentor Play Discover
  64. 64. Contribute to a good cause Enjoying a Life Long Learning More Time with your PartnerTick off your ‘Bucket List’
  65. 65. Educating People More Time with your Loved Ones Taking a Freelance/Parttime JobBecoming a Consultant
  66. 66. Continuing the present Course Going back to School Develop a HobbyDoing Volunteer work
  67. 67. Completing Unfinished ProjectsMore Time with Friends
  68. 68. B What’s Your Portfolio Life? The Time of Your Life
  69. 69. B What’s Your Portfolio Life? The Time of Your Life To determine how you want to invest “the Time of Your Life” in the future it’s a good thing to visualize your story about your ideal 168 hours week Present Portfolio of your Life Determine how much time of your week you invest at this moment in activities Hours in a week Percentage • Family • Work • Hobby/ Free time • Fitness/health • Personal Development • Sleep • Maintenance The Portfolio of your Life you Want Determine how much time of your week you want to invest in activities Hours in a week Percentage • Family • Work • Hobby/ Free time • Fitness/health • Personal Development • Sleep • Maintenance How can you divide your time anew to have more passion and balance in your life?
  70. 70. CDo You Have Work you Love and Never want to Retire from?
  71. 71. CDo You Have Work you Love and Never want to Retire from? Find work that feels as your dreamjob for your heart, hands and head. In which you receive play check instead of a pay check. Give yourself a figure between the 1 and the 10 based on your work happiness 1 I have the feeling that my natural talents and abilities are being expressed in my work 2 I have a continuous enthousiasm for the work I do 3 I have a feeling of rest and satisfaction in my work 4 I enjoy the people where i work with 5 I feel that my work helps me to grow intellectually and personally 6 I feel that i have meaning for others in my work 7 I often have energy from the work I do
  72. 72. Read the following quotes and determine which describes best the wayyou earn your money1 I hate my work and the money is terrible2 I hate my work but the money is reasonable3 I hate my work but the money is excellent4 This work is okay but the money is not good5 This work is okay and the money is also okay6 This work is okay and the money is excellent7 This work is great but the money isn’t8 This work is great and the money is okay9 This work is great and the money is excellent10 I feel myself always in a flow and can believe I make so much moneyHow do you read your story?8 - 17 You are collecting a paycheck18 - 24 Danger zone – change can be needed25 - 35 You’re on your way to a play check36 - 45 Congratulations! You are collecting a play check and have no reason to ever retire from this passion.
  73. 73. DHow Do You Age Successfully?
  74. 74. DHow Do You Age Successfully? The Five Stories of Aging Successfully 1 Connection How connected are you with people who give you energy and who receive energy from you? 1= Not Connected 10= Very Connected 2 Challenge How many intellectual and physical challenges do you have in your daily life? 1= Not Many 10= Many 3 Curiosity How focused are you on personal growth and the development of your knowledge? 1= Not very Focused 10= Very Focused 4 Creativity How much Creativity/Flow/Enjoyment/Happiness do you have in your life? 1= By far not enough 10= Lots, lots, lots of moments 5 Meaning How much of you (time, energy, resources) is aimed at helping others? 1= By far not enough 10= Lots lots, lots of moments
  75. 75. From Hollywood with Love Peter de KusterFounder of The Hero’s Journey Design Rachelle Wessels