“The pandemic didn’t change everything, but it did open up new thinking, new channels and our options for steering a different course in pursuing the best in career and wealth success …”
With seasoning, comes smarter choices for work, income & savings
Odds are good you have found a career, or at least a steady job. And as part of that path you have made some plans for retirement beyond just hoping for social security.
A lot can happen now that you are uncorking this new vintage of you, so let’s break this down into two areas, career/work and finances for the purpose of looking at your options and some resources for informed decisions and guidance.
Jobs, Careers & Callings
In a series of guest lectures to collegiate marketing students we presented The Top Five Must Haves for a Successful Career. In amongst some predictable data discussions and heads-up for navigating corporate, institution and agency landscapes was one section on a foundation for happiness: Do What You Love and Love What You Do.
Which sounds like a really great philosophy, but many people haven’t seen that as the driving force for working, let alone career and wealth.
We’re often trading hours for dollars, trying to get along and hoping for some job satisfaction or recognition for our efforts. What you have been getting out of your employment may correlate with how you see your work … is it a job, a career or a calling?
- Job — You show up, you do your work, you eek out whatever enjoyment/satisfaction you can and you go home
- Career — You show up ready, you’re strategic in your efforts and seek achievement/recognition/higher pay
- Calling — You show up early and often, you are driven to make a difference and create change/lift/legacy
All of which means you may be perfectly happy in your current lane, but for most, there’s a want for more, or an idea or passion for pursuing something different. We often hear “I’ve done all the right things, checked all the boxes but still something feels off.”
Some of that may correlate with how we’ve been taught about goals, like everything will be great if I achieve this only to find out that’s not real life. Birthdays don’t make us older, they mark time, and goal reaching — you may get more money and some new duties or reports, but you’re pretty much the same inside.
So when we’re working with career coaches, they suggest digging in to find what feels real about the dissatisfaction. Are you overly identifying with your title, as in “I’m a CPA?” Or do you have an entrepreneur inside aching to get after it? Want to taper off work involvement to enjoy other pursuits? Want to start planning now so you can stride into another phase of activity/work in a few years?
Fortunately, there’s no shortage of business/work/bliss experts out there, but doing that research often feels more like work, than, um, work.
To save you some time, we’re suggesting some reading and experts below we feel will help you sort through some choices. Remember, there’s nothing wrong with you, and the more you can calm the noise and angst, the better you will feel. Like most of us, you’ve been told what to do, what you’re about and what’s right and wrong most of your life. This set of choices is for you, so come back to your breath and focus on what feels right. The goal isn’t to be over there, the goal is to enjoy the journey over there.
About That Long-term Money Plan
As we age, finances seems to take on more weight. Do we have enough to retire? Have we made good decisions about money? Are we prepared for life’s surprises? (and this is big) If we’re going to live longer, how much extra will we need for an increased lifespan?
We think looking at wealth in midlife is less about becoming rich overnight and more about creating enough clarity, stability, and flexibility to live with less fear and more intention. So it’s really about flexibility, resilience, health span, and enough stability to make thoughtful choices later in life. And truth be told, most people feel like they don’t have it right, and that’s more common than you think.
The financial noise often comes from the wave of options and advice crashing into the uncertainty of planning, retirement, career instability, supporting parents or adult children and the fear of running out of time or money. Plus, retirement today isn’t the same as it was for our parents when you consider things like phased work, downsizing, a flexible lifestyle and working on your own health and well being to actually thrive instead of leaving your job and wondering what to do with your time.
Most experts still hew to the basics, like reducing debt, saving consistently, planning intentionally and investing steadily, so skip the crypto schemes, YouTube advisors, doom headlines and optimization culture and find an advisor who asks a lot of questions, gives thoughtful, reasoned answers and takes the anxiety out of the equation.
Again, below we have collected several career and wealth reference articles, and a roster of professionals who should create some clarity with a reasoned approach.
Career and Wealth Resources:
E S S E N T I A L S | R E A D I N G
THE FEEL RICH PROJECT starts by analyzing your specific history with and feelings about money, then uses that information to help you redirect your life where you want it to go. It’s a uniquely personal experience during which you will:
- Explore your needs, values, and beliefs–what does true wealth look like for you?
- Learn how your life experiences created your money beliefs and habits
- Understand replacing destructive money habits with those that support your vision of a happy life
- Create a just-for-you action plan to meet your goals and start living richly
According to author (and TML advisory board member) Michael Kay, Your beliefs and feelings about money drive how you see yourself and how you define “rich.” Learn more here.
AGEWISE Renowned cultural critic Margaret Morganroth Gullette reveals that much of what we dread about aging is actually the result of ageism—which we can, and should, battle as strongly as we do racism, sexism, and other forms of bigotry. Drawing on provocative and under-reported evidence from biomedicine, literature, economics, and personal stories, Gullette probes the ageism thatdrives discontent with our bodies, our selves, and our accomplishments—and makes us easy prey for marketers who want to sell us an illusory vision of youthful perfection. Learn more here.
THE VIEW FROM UNRETIREMENT Richard Eisenberg reveals more from “the other side” of retirement and delivers some terrific advice and insights as a contributor to MarketWatch’s Retirement section. Eisenberg is a freelance personal finance writer and editor and co-host of the “Friends Talk Money” podcast. Learn more here.
HALFTIME: MOVING FROM SUCCESS TO SIGNIFICANCE Buford provides encouragement and insight to propel your life on a new course to true significance–and the best years of your life. Buford focuses on this important time of transition to the second half of your life, giving you the tools you need to:
- Take stock of your successes and accomplishments thus far
- Redefine significance and what it means to you
- Identify your personal goals
This updated edition also includes questions for reflection at the end of each chapter, brand new stories of men and women enjoying a second half of significance, and specific halftime assignments to guide you into your second-half mission. Learn more here.
G U I D E S | S Y S T E M S
NERDWALLET RETIREMENT CALCULATOR Overly simplified but a good start for understanding basic money needs for contributions, timing and outcomes. Nerdwallet will (as they ALL do) try to upsell you, but just use the free calculator for basic info and plan from there.
BEHAVIOR GAP Every week, the Behavior Gap Weekly Letter delivers a sketch and a short note that cuts through life’s noise and provides a moment of reflection. With stories and lessons that resonate, Carl Richards helps you see money and life differently.
Carl focuses on emotional decision-making, financial clarity, simplifying complexity, reducing panic and comparison. Very calm, very human.
MONEY GUY Brian Preston and Bo Hanson are one of the FEW financial brands that: feel sane, emphasize long-term thinking, avoid get-rich nonsense, speak realistically about behavior and planning.
The Money Guy Show is a resource for your financial journey – to get you on the right track, find the “why” behind your wealth building, and ultimately, focus more on what really matters.
NEXT AVENUE – Now hosted by Twin Cities PBS, Next Avenue is dedicated to serving people over 50 with original content and resources on health, money, work, lifestyle, and caregiving.
It’s not just about finance, but more about reinvention, purpose, longevity, work transitions, emotional midlife realities, meaningful retirement and lifestyle redesign
EMPOWER PERSONAL DASHBOARD – Useful for seeing all accounts in one place, simplifying financial visibility, net worth tracking and retirement projections.
A convenient way to coalesce ideas with reality and calmly plan accordingly.
BOLDIN – Kiplinger highlighted Boldin among the best DIY planning tools. Formerly NewRetirement, this Ai-assisted set of tools feels less “stock picker” and more “life planning.”
Getting an account gives you access to scenario modeling, retirement visualization, longevity-aware planning and shows you flexible pathways.
E X P E R T S H O W C A S E
MICHAEL F KAY In building a highly successful financial planning firm. Kay worked with 4,000+ men, women and families, led workshops and trainings in dozens of cities and gave talks to thousands and wrote two books on aligning money with values.
As Kay guided many highly successful men to prepare for life after traditional work in the last 20 years, it was clear that it wasn’t how much money they’d set aside for retirement that made their “Chapter X” deeply satisfying. It was how well they began to prepare—mentally and physically—for this next stage.
Kay’s web presence includes his site, and active blog and podcast to share not only his expertise and experiments, but the teachings of other thought leaders and the inspirational stories of those making the journey. Learn more here.
