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Blog #7
(September 5th, 2008)
THE NEW RETIREMENT MODEL: NEVER QUIT!
By Tom McAllister, CFP™
A recent survey highlighted in the news showed that more than half the "Baby Boomer" generation expect to work on into retirement age. More than one in ten said a love of the job made them want to stay in the workforce, while at the other extreme, one in six admitted they needed to keep working in order to make ends meet. Interestingly, a survey of Canadians revealed similar results, with 56% of respondents saying that even if they could afford to retire, they'd continue to punch the clock. Spokeswoman Lee Ann Davies comments, "The definition of retirement is changing to include some form of work. Many Canadians feel that….continuing to work helps them stay engaged and connected."
Having reached a career milestone myself (August 1st marked 46 years in the investment business, and August 15th marked 33 years as an independent Certified Financial Planner practitioner), I have a story that would certainly reinforce these survey findings. For the last fourteen years, I have been delivering financial lectures on cruise ships. One question I'm asked on nearly every cruise is "When are you going to retire?" My answer is always the same: "Hopefully, never, not until they carry me out feet first!"
My profession, financial planning and investment management, is one of the few fields where the longer one is in it, the more valuable one becomes to their clients (and,hopefully, blog readers)! I hope my passion for improvement, especially in bringing better service to others, will never end. In fact, these blogs are part of my ongoing attempt to share what I've learned over these many years with those who have not had these experiences and gained this knowledge. In addition to my clients and readers, I try to share my insights with own rapidly growing family (now numbering 28 lineal descendants). My hope is that these blogs will become popular with many thousands, not just the few hundred who currently see them. To help this take place, I've added a professional "blogmeister" to my associates, who works along with my webmaster to help me probe the nuances of the World Wide Web through tommcallister.com.
I've been happy to help many clients plan whatever form of retirement was best in their eyes. As for me, if these surveys are to be believed, I'll have lots of company as I live out my own retirement model, using the motto: Never quit! Or to quote Churchill, “never give in, never give in, never never never give in!”
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