Flipping Retirement on It’s Head Part 2 – by Bill Storie

mr-potatohead

Last week I started a mini-series on changes in my retirement lifestyle and taking back control. Many people made comment on our Facebook Page or e-mailed me privately. It seems to have struck a chord with many. Good.

I think there are two distinct streams of retirees around the world (keep in mind that our outreach, especially on Facebook, is over 40,000 people from all walks of life, countries and cultures, so we do get a fairly reasonable global view).

  1. Those who have retired, are fairly comfortable with their lifestyle, health and finances, and are quite happy to travel or spend more time with family or start new hobbies or just chill.
  2.  Those who still have the urge to do new things, particularly in the business world. Start a new business perhaps. I’m not sure they actually miss the camaraderie of the workplace, although many did say they do miss it, I think it’s more that they miss the buzz.

Which category are you in?

I fall into the latter. Maybe over the next few years I’ll slide back into #1 but for the time being, the interest in business activity persists.

There’s no doubt that the advent of Olderhood has been a tremendous stimulant to my thinking. We have grown from a small Blog site to a worldwide audience recognized in over 20 countries. As this has evolved, it’s fair to say that we have been approached by several people to do this, or that, or something more with the Olderhood brand. Many have sought advice or guidance, some have sought endorsement, some have even sought money (asking that of a Scotsman is a big ask I assure you ;-))

Clearly one issue which is uppermost in my mind, and also those we have talked to, is the investment decision of a new business. In other words, if you don’t have any external means of income, over and above pensions and investment income, then if the venture goes upside-down, you have no fresh supply of funds coming in i.e. no salary. That is a major, and a crucial, issue to address. It is why many people would simply not consider a new business in retirement. Fair enough.

My view is that while I still have health and energy, and while money, while important is not critical, then there is simply no better time to invest in a new venture than now. I’ve been called foolish before in my business career and no doubt many will say the same now.

But c’est la vie. I have “Bit the bullet” ; “Taken the plunge” ; “Thrown caution to the wind”.

So, the new venture as you have now worked out, is related to Olderhood. “Gee what can it be…?”, they ask.

I will be in Scotland next week for a family wedding, but I will be sure to let you all in on the secret.

Stay tuned …!!!!

Bye,

Bill

 

 

 

One response to “Flipping Retirement on It’s Head Part 2 – by Bill Storie

  1. I am neither of the two but I am about to plunge into retirement and already started a new hobby while thinking what to do if i have done everything and still have more time in hand, Anyway an offer came which could bring a substantial amount to tie me over without touching my nest egg. As early as this some people are planning how to spend what I am going to receive. Am sure some must have experienced it too..Suddenly I have discovered I have many relatives and friends who have bright ideas how to spend my retirement benefits, lol! Foremost in mind is organizing a party or ideas to invest in business with them as the one to manage,, How do you go about saying no without hurting their feelings..

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