“Are you still working”?
Maybe it’s because of my increasingly “greying” sideburns, or the fact that people assume I must be of that age, This question is asked me repeatedly! The question is usually asked by other retired or soon-to-be retired folks, but occasionally by members of the younger generation as well. For me, the gold watch and tasteless retirement sheet cake are not part of my master plan.
I decided long ago, that you would not find me sitting on a bar stool at sixty-five years old, with regrets and stories of partially realized goals. Or worse yet, no goals at all! Sitting in front of Fox News for ten hours a day is not my idea of the “golden years.”
I want to end my life, spent! No regrets! Memories aplenty!
I guess I want it all. I want to be a loving supportive husband to a wonderful wife. I want to be a good son, to my ninety-five-year-old mother. I want to be a good father to my four sons and six grandkids, but I also want other things! I want to defy the odds, strive for new challenges, and create meaningful, long-term wealth. Is it being overly confident? Maybe. Is it boastful? No. Do I have a retirement plan? Yes, but not a traditional plan. The plan will be the essence of the “Third Act of my life”
How do you plan for the “Third Act”? You need to develop the answers to the What, When, How, and Why questions.
What -the “Third Act”, is basically, the time when traditionally people retire from their chosen profession or job. Sleep in, stay up late. “Every morning is Saturday morning and every afternoon, is Friday afternoon” This is the traditional path most people, especially males strive for. The new norm, is the 2019 report that showed 255,000 Americans, eight five years or older are still working. Some are working because financially they need to. Others, truck drivers and farmers. crossing guards, etc, are still active and working. The quickly emerging groups of mature workers are also CEOs and entrepreneurs. Entrepreneurs are the fastest growing segment, including those with very diverse backgrounds, moving into new, exciting endeavors, that satisfy their “creative itch” and keep steady income streams going for many years to come.
This will vary with each person. Some will wait until the traditional retirement age of 65 years, to start their “Third act”. Many, however, will begin preparing much sooner. Although there is no magic age to start the “Third Act”, it is never too early to begin preparing. Once child-rearing duties are in the “rearview mirror” and careers have stabilized, both women and men should begin planning for the “Third Act”. Begin to research, experiment, and “dabble” in your passions to be better prepared for your ‘Third Act.”
How-at no time in history, have we had so many resources to assist with our quest for new knowledge and income-boosting projects? The internet and an endless supply of print and visual resources are available at little or no cost. Investing in your ‘Third Act”, is always money well spent. Excuses should be taken off the table. Among the many resources available, explore “later in life fitness”, to keep a sharp physical edge. Workshops, Blogs, and Podcasts are all excellent resources for pursuing new knowledge.
The question is not why, but why not? Go back to one of my earlier statements. Don’t be 65 years old, sitting on a barstool with regrets and stories of half-completed dreams, or no dreams at all. Prepare for and execute your “Third Act” Realize your dreams, create long-term wealth, and be a role model for your family. Finish your life fully SPENT!
