Everyone, Everywhere, All the Time
I’m having a delightful time reading Dr. Andrew Scott’s new release, The Longevity Imperative. Maybe it’s delightful because he’s saying many of the things I’ve been saying (and living!) as I transit my second half. I mean, who can resist someone who agrees with you? In this book, Scott discusses how we have two ways to view an aging society: as a problem or an opportunity. I strongly favor the latter, because I’m far from being ready to be put out to pasture. #NotYoungNotDone
Financial Literacy:
April is Financial Literacy Month, wherein we encourage Americans to create and maintain healthy financial habits. The only problem is, depending on your source for financial education, you can go down a rabbit hole quickly in the wrong direction.
Not every self-proclaimed financial “expert” delivers best practice information; in other words, generally accepted and researched principles and guidelines. And that means it’s sometimes hard for you to extrapolate what information is right for you. Most of the reputable talking heads deliver solid data, but they also have something to sell. And that can be problematic when what you are learning is sales opinion and not fact.
We Have A False Notion Of Independence
I know I just wrote a little about the notion and costs of frailty risk. But I’m going to force the issue here. My experience with clients is that nobody wants to talk about caregiving and being cared for. (Exception: My mom, Hurricane Jackie, who begins every Saturday morning conversation with, “If anything happens to me….”)
How Can You Say No To Guaranteed(!) Lifetime Income?
There are some crazy and absolutely true metrics about the percentage of clients who, when offered guaranteed lifetime income by their financial advisors, refuse to take the advice. And it’s a high percentage. Since I pride myself on clear communication, I don’t think the challenge, for my own clients, was my failure to describe what it is, what it isn’t, why it’s a good thing, and what are any potential gotchas. I think it’s fear.
The Normal Aging Process And Frailty Risk
It’s hard to imagine arriving at that age where you start a conversation regaling people with your latest doctor’s appointments. Lots of us arrive there, however. Sometimes it’s a necessity, like when a child takes over a parent’s health logistics. But mostly we joke how we’ll never be that person, when in reality, we know, deep down, we are destined to become precisely that person.
Leslie F*cking Jones Wants You To Have Life Insurance
Recently, I drove east from Cincinnati to Saratoga Springs, New York, as I do twice a month; and let me state for the record that I-71 and I-90 are not interesting roads. The trip is much more tolerable when it includes catchup phone calls and audiobooks. This time, my 11-hour pilgrimage called for a weighty tome. A substantial piece of thought leadership.
When You Live Long Enough, Anything Becomes Possible
Those who have met the Finkel family in person know that we are a small bunch. Long used to being undermined by high shelves and overshadowed by tall, long-limbed folk, we are easy to overlook, literally. But we are loud, and that certainly makes up for what we lack in stature. We are also not slender. I believe a more accurate description for us is “chunky.”
Hacking Longevity Bit By Bit
Longevity is the duration or length of our lives. Longevity risk represents how our longevity will compromise our lifestyle. Financial people refer to it as the “risk you will run out of money before you run out of breath.” As a group, we try to prevent ourselves and our loved ones from eating cat food in our 80s. But there is another longevity risk that I want to address, and that is that your healthspan—the duration of that part of your life in which you are free from debilitating illness—won’t be long enough if you don’t take ameliorative steps now.
Here's To Our Holiday Rituals
Merry Christmakwanzukkah! That is to say, I wish you a wonderful day of cultural rituals. And it is my sincere hope that if you have no Christmas rituals yet, you use this day to go ahead and make some.
What Price Ambition?
It was a Sunday, and at about 7:30 a.m., I received a “Got a minute?” text from a protégé, client, and friend. I first met her when she was in her 30s and her kids were little. Now she’s 50, launching young adults, navigating a demanding, well-compensated career, and processing post-divorce trauma. (There’s something “magical”--note the sarcasm--about the two-year mark post-divorce. Maybe I’ll tackle that another day.) This woman—my friend--considers herself a hard-fought success.
We Are Informed By Our Parents ...
I confess that I remained haunted by Hurricane Jackie’s (mom’s) retirement. Dad was seven years her senior, and when they retired to Florida, she was 63, my current age. For three decades, she spent her days in the Sunshine State walking, playing golf, aerobicizing and socializing.
Umbrellas and Encore Careers
In the late 1990s, when I immersed myself in the study of coaching as a domain, I read two books by the late Barbara Sher. These books had such a profound effect on my life and work that the title of one book, It’s Only Too Late If You Don’t Start Now, has become a personal hashtag and mantra for me. The other book, I Could Do Anything If I Only Knew What It Was, also remains a seminal piece of thought leadership for figuring out what makes for a satisfying career and life.
The Triple Decker Club Sandwich Generation and Feeling Wealthy
Madrina Molly™ represents a huge change for me. For most of my adult life, I’ve arisen at 4:30 a.m., commuted to an office (or, more recently, to the next room) and structured my days around corporate or client meetings or both.
Who Is Madrina Molly?
A client once called me “Hada madrina de buenas ideas financieras,” which translates to the “fairy godmother of good financial ideas.” Another client called me the “Good Idea Fairy.” I sensed a pattern.