Lifestyle Design and Reinventing Retirement

May 24, 2012 by 5 Comments
retirement

retirement (Photo credit: 401K)

Monday I wrote about a TED video by Tim Brown, on the subject design. It challenged me to consider a question that I think is on the minds of many Boomers and Gen-Xers about how they are going to reinvent retirement in this modern world. The question is:

How can Boomers and Gen-Xers enjoy the benefits of retirement while at the same time remaining active, productive, and profitable members of our modern society?

What this question boils down to is a matter of lifestyle design. By this I mean how the whole of a person’s life (family, health, community, dreams, purpose, etc.) fits together in a homogeneous way and provides benefit and blessing both to themselves and to those they interact with on a regular basis.

You see, retirement, by my definition does not mean to stop working altogether (most people cannot/don’t want to do this) but to transition into a lifestyle that allows for you to be more in control of your time, talents, efforts, and the direction of your life travel.

How can a Boomer/Gen-Xer wake up in the morning and engage in activities that they choose, while maintaining an active, productive, and profitable life? What can they do to spend time with family, travel, volunteer, and create in a way that makes them happy, healthy, and a value to their community/society? What is their life-dream and how can they create a design plan that brings all the elements of that dream into fruition every day?

Most people don’t consider such things and as a result end up looking to get back into the workforce shortly after the big “retirement party.” One retiree who is 70+ said, “I am bored to death, I just want something to do.” Another said, “I want to continue to feel useful and valuable in my retirement life.”

Both of these folks retired like they had been told to and found that without some lifestyle design work in place they were doomed to “being retired.” What they really want is to design a lifestyle that will give them the benefits of retirement (slower pace, more control, and the pursuit of what they consider valuable) while still being active, productive, and profitable (financially capable for their own needs).

What about you? Are you planning for those great years of life where you can live out your dreams at your pace and according to your desires? What advice can you give to those who are just beginning the process?

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Design Thinking and Reinventing Retirement

May 21, 2012 by 4 Comments
TED (conference)

TED.com (Photo credit: Wikipedia)

I just finished watching a TED Talks video by Tim Brown about the need for a fresh look at the idea of design. He believes (and I agree) that what needs to happen in this age is for innovative/creative people to become design thinkers. Design thinkers, Tim explains are those who, “solve problems and make world-changing innovation.” He went on to explain that this kind of thinking had three basic characteristics:

  1. Design thinking is human centered.
  2. Design thinking doesn’t think to build, but builds to think.
  3. Design thinking shifts from consumption to participation.

As I listened to him, my thoughts began to turn to my passion of helping Boomers and Gen-Xers reinvent retirement. I think that what is needed to accomplish this is for these two groups to engage in this “design thinking.” But if we are going to make the most of this kind of thinking, we have to begin with the question:

How can Boomers and Gen-Xers enjoy the benefits of retirement while at the same time remaining active, productive, and profitable members of our modern society?

We have to decide how our “retirement years” can be lived to the benefit of others while providing us with the time and personal fulfillment we need as well.

We need to be courageous enough to build our retirement businesses in order to think, rather than thinking in order to build. In other words, we need to see our business as a prototype of what it will become as we learn what will and won’t work in response to those we are seeking to serve (our clients/customers).

We need to shift our retirement thoughts from what we can consume or provide for consumption and build our retirement years by looking for ways to encourage active participation in life and innovative thought, by the greatest number of people.

This kind of design thinking will make our retirement years the best of our lives and will allow us to leave a legacy that will far outlive even our best efforts!

What do you think? How would you use design thinking to make your retirement years the best years of your life? What can we do to encourage this kind of thinking in others?

 

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A Two to Five Year Retirement Plan

May 18, 2012 by Leave a Comment
Retirement

Retirement (Photo credit: Tax Credits)

One of my first forays into the business arena was with the largest network marketing company in the world. It was a great experience (although not successful by most standards). What made it successful for me was that I learned what was called the “2-5 year plan.

This plan taught what I have come to understand as the basic truth in business that if you are going to be successful, you must be willing to spend time AND resources creating your business.

The point is, that if you are contemplating retiring in the next few years but to do so will need some retirement income from a business (or even worse a job), then you need to start the process 2-5 years ahead of that retirement date.

The benefits off such a move are:

1. You have time to “try before you buy” business options that might present themselves and appeal to you.  If after close examination, anI option looses its appeal, it is easier to move on than if you are already counting on the income it may be producing.

2. You have time to learn and become proficient before this business become your primary source of income. Once you retire, you may feel trapped and that would be a bad way to live out your retirement years.

3. You have time to become a thought leader  in your chosen field. By entering your retirement as a thought leader, should see the income built by your steady efforts, as well as, the growth that come from thought leader (referrals, and new entrepreneurs seeking to work with you).

In the end the choice as to when to start is entirely up to you.  However, the longer you take to start, the more critical it is that you make money right out of the gate, and the more pressure you put on yourself to perform at a level that may be beyond your skill-set.

Now it’s your turn. What do you think is an acceptable time to start developing your retirement income?

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Helping Boomers and Gen-Xers Design Success!!

May 14, 2012 by Leave a Comment

Tomorrow (May 15, 2012) I am shutting down two blogs that have been a part of The Doulos Group for the past two years. I am not shutting them down because they are unimportant of because they are no longer relevant. I am shutting them down in order to focus my attention on the things in life and business that I am most passionate about.

Those things are simply:

  1. I am going to help people design a life-style that blends life and business to fulfill their dreams.
  2. I am going to focus my efforts on helping my clients through the process of discovery, design, and delivery of their passion within their definition of success.
  3. I am going to focus my efforts on Baby Boomers and Gen-Xers who are looking for a way to reinvent retirement.

With these simple rules in place I hope that everyone who comes to visit will find something worth while, something that makes sense, and something that helps them design success!

Come back often and let’s get this party started!!!

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Retirement Businesses – Anonther Option

March 26, 2012 by Leave a Comment
retirement

(Photo credit: 401K)

Last week I wrote about an option for a retirement business. [One Option for a Retirement Business] That option was a franchise-styled home base business option. This type business has an “in the box” approach, with you purchasing the right to sell a companies product/service as a “distributor, associate, director, or some other title.” It is a great option for someone who wants to be in business without having to invent, produce, package, provide, or ship products/services directly to their customer base. Their only job would be to market the products along with promoting the business opportunity.

Today, we are going to talk about opportunities that can get a bit more complicated, but also provide retirees with a business option that can secure a comfortable retirement in some troubled economic times.

I am going to use some retired friends of mine as an example. Remember that there are many variations of this theme. You can pick what best works for you and you skill set.

My friend and his wife have for many years been interested in jewelery making. (I am wearing a wedding ring he made for me in 1983!) Their interest in jewelery was at a hobby level for most of their business life. While they owned and operated a couple other successful businesses they would relax by polishing stones and making jewelery.

When they decided to sell their last business and retire, they looked at their finances and decided that they weres going to need to supplement their retirement and decided that making and selling jewelery was the thing they would like to do. So, they started to research both what to do and where to find the customers to sell their pieces to.

What they discovered was that the “craft show” circuit was something that appealed to them. It allowed them to travel (something a lot of retirees have on their list of “want tos”) as well as provided them with an ample customer base for their wears. They traveled in the warm summer weather around their mid-west home and spent the winters traveling around the state of Texas in the warmth there.

They are now looking to slow down a bit and looking for ways to expand their existing business through the development of a website. This will require new research and another learning curve, but one I’m sure they will master in the same way they have every other in the development of their retirement business.

What hobby could you turn into a business option for retirement? What obstacles have you had to over come in creating your own retirement business? What hints would you be willing to share?

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One Option for a Retirement Business

March 21, 2012 by Leave a Comment
Retirement

Retirement (Photo credit: 401K)

You know, as I write this post, I am a little nervous. Every time you suggest something might be a good thing, you are open for criticism. So, let me start with a statement of intent:

I would love to see every Boomer who is or is about to “retire” find a passion that would make a great retirement business AND allow them to have a part in changing the world for good.

But, some Boomers are just tired. Tired of work, tired of long hours, and tired of just getting by. They have worked hard in their job/career and the prospect of starting something brand new from scratch, while appealing in theory, will likely never happen.

If there was something that already existed, something that they could do from anywhere, and something that would handle most of the monotony that owning a business requires, then there might be some interest. A sort of “home-based, franchise-styled” business. That might well be an interesting option to many Boomers.

Well, those kinds of businesses do exist. Most of them are found in the Network Marketing arena and many of these businesses can provide a reasonable income for the retired Boomer. (In the interest of full disclosure, I have worked in this arena on and off for more than 20 years and am active with my preferred company today.)

Before any Boomer jumps into this style of business, you need to know the real skinny:

  1. Understand the business that you are considering. Don’t let anyone “excite” you into a business. Many network marketers use this kind of “excitement selling” to get people “into the business.” Only after you are in do you get to know what it really takes to be successful for the long run.
  2. Make sure that the product of the business is both saleable and something that you can put your name on. If you don’t understand the product or whether or not it is really a good value for your customers, don’t “get in.” I heard a network marketing leader just the other day say that the product he sold “had not done anything noticeable” for him, but he was sure it was a great product. Beware of selling something with questionable value.
  3. Understand the compensation plan. You need to know how you are getting paid, not because of the company is going to “rip you off,” but because some compensation plans have unique rules that can drastically reduce your compensation from month to month.
  4. Be sure to read the policies and procedures manual. There are some companies that have a provision to stop paying affiliates/distributors at the discretion of the company (usually with only 30 days notice).
  5. Only join a company that you have done your due diligence on. If you are being pressured to join “right now” be careful!

I have been in companies that collapsed and ceased to exist and in one’s that have succeeded beyond the wildest imagination of the owners and its distributors. In those that have done well, the opportunities for Boomers is real and those willing to learn and work hard, can enjoy a business that can be run from anywhere and can allow even the tired Boomer to make a dent in the universe.

PS – I would love to hear what you have to say about this arena of business but don’t comment with the idea of recruiting other readers into your business. Those comments will not be posted.

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What do you want from your “Chapter Two?”

March 17, 2012 by Leave a Comment

For so many Boomers these days, the answer to the question, “What do you want from your “Chapter Two?” is a mystery, maybe even a luxury that they haven’t even considered. With the economy the way it is and with the need to continue to make a living so prevalent in our generation, can there even be a “Chapter Two?”

I remember writing about this subject several months ago. I got an emphatic comment back from a reader who said basically that she didn’t have time for what could be a “Chapter Two” because she was so overwhelmed with “Chapter One” and could see no way out of it. Her life was stuck and that was just that!

While I understand her frustration completely, I think that to live life without a vision of what could be condemns us in what is and right now that’s not a very pretty picture for most. Now, I’m not telling you to abandon your current responsibilities or to walk away from the present, but to just take a few minutes a day and see if, at this stage of life, you might want to consider something new.

Think of the who, what, when, where, why, and how of it and see if a vision of “Chapter two” might take shape. Then research what it would take to move you in the direction of that vision and perhaps be courageous enough to take the first step. (Remember the journey of a thousand miles begins with the first step.)

Be cautious, be smart, but also be brave. Our purpose in this world does not revolve around just paying the bills and watching another Star Trek re-run. Your second chapter awaits. What do you want it to be?

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I Just Can’t Stand It Anymore!!

March 16, 2012 by Leave a Comment

I just can’t stand it anymore!! I said in my last post (The Doulos Group Launches) that I was going to combine my efforts at Baby Boom Entrepreneurs with those at The Doulos Group. I was wrong in trying to make that work and want to let you know that I can’t stand being away from my fellow boomers any longer.

I will be working hard again to provide you all with valuable content that will help you make the best choices when it comes to creating the perfect “second chapter” for your life. I hope that what is done here will serve you well and I am always available to answer specific questions you might have.

Thanks to all of you who have continued to check back here to see when/if I had come to my senses and begun to post again. You were very much apart of my decision to “re-open” BBE.

Talk to you all soon …. Dave!

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The Doulos Group Launches

January 4, 2012 by Leave a Comment
Distant Starburst Galaxy

Image via Wikipedia

Baby Boom Entrepreneurs is giving way as a blog to become a part of a broader blog representing the whole business design of The Doulos Group.

I hope all of you will find your way over to the new blog and that you find great value in the information that you find there. I am still very concerned with the direction this current economy is leading we boomers and I am going to do my best to make information available to you that will help you make sense of it all.

See you over at The Doulos Group!

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One Week to Go – Then 2012!

December 24, 2011 by Leave a Comment
Sweet Sunday

Image by storebukkebruse via Flickr

I have been able to enjoy this Christmas Eve watching football and spending time with my family. As the end of the Detroit Lions game is upon me and dinner being prepared, I am reminded again about the coming of the end of the year and the beginning of the new.

I believe that 2012 is going to be the most important year in my life and I am so excited about it that I wish it could start on Monday instead of a week from Sunday. What is going to make this year so important is that I am going to stop being what everyone tells me that I am supposed to be and become the person I was born to be.

The reason I am posting this on my business site is, that in order to be this person I am supposed to be I must become a friend and guide to people who want to live their lives and create businesses with passion and commitment. There is so much mediocrity in our world today and so many people who think that life owes them everything that passion and commitment are sorely lacking.

2012 is going to be a year of personal revolution for me as well as those who join me! I am so excited about what is going to take place that I am just about to jump out of my skin in anticipation! My question for you is, “Wanna play?”

Leave a comment, ask a question, join the conversation!!!!!

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