Where did the “normal retirement age” of 65 come from? Does retirement mean you hang up your spurs and leave the workforce completely opting instead for a state of permanent vacation? What do some of the greatest thinkers of all time have to say about retirement?
Tune in this week as Wayne uses Neil Pasricha’s terrific book The Happiness Equation to analyze the late stage of one’s work career and how it might be reframed from the permanent vacation concept towards a higher purpose. Which do you look forward to (No judgments here. You’re in a safe space!): a permanent vacation after a lifetime of hard work or something different? Please share your philosophy or experience with us in the comments.
While Feb. 9-10, 2023 seems far away, it will be here before you know it! Enroll your most promising people in The Contractor Business Boot Camp while we still have seats available. Contact Charlotte at ckopp@familybusinessinstitute.com for more information.
3rd generation owner says:
I have seen both ends of the spectrum within our family business. As a 3rd generation owner, I witnessed the 1st and 2nd generations grapple with this. Those who had a passion for something else did really well, those who didn’t really struggled with their health and mental well-being. That being said, helping the older generation see that they have value to add outside the family business is important for every employee in the business. “Staying in your lane” is a tough concept for the outgoing generation who were involved in nearly every aspect of the business.
Wayne Rivers says:
You’re so right, Chris! Great insights as always. Thank you.
Arnie Pechler says:
Thanks Wayne another great message. I have made my primary purpose helping business owners with succession, legacy and retirement planning. Building bench strength and “getting out of the way” as you put it is essential. Both emotional and financial readiness are keys to a successful retirement. I appreciate the holistic approach you incorporate into your messages. Watching my son put his signature on our business while continuing to make an impact in my specialty is very gratifying.
Wayne Rivers says:
Thanks, Arnie.
Ed Hunt says:
I tried retirement, found it to overrated and underpaid. I lasted about a year and came back full time.
Wayne Rivers says:
Thanks, Ed.