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The Real Secret to Wealth: Multiple Sources of Income | Bob Proctor

you know i often take a look at what i'm learning and i have to laugh to myself because it's it's so far beyond anything i would even dream about when i started to read this [Music] then i started to understand earning money is like driving a car or combing your hair or getting dressed you just have to learn how to do it and once you learn how to do it you can put it on automatic pilot and of course you put it on automatic pilot that it keeps growing now there's three income earning strategies there's only two ways to earn money i'm going to give you three strategies but there's only two ways one is money at work and the other is people at work so here's the three strategies refer to them as m1 m2 and m3 now m1 is not a good strategy and yet it's used by 96 out of 100 people 96 of the population are using m1 strategy and it won't work it's got a problem it's got a serious problem it's called saturation because this is where you trade time for money and the person runs out of time m2 is a great strategy if it's only used by three people out of 100 and for very good reason this is where they put money to work they put money to work earning money now m3 is something i stumbled on back in the 60s and i didn't understand what i had been doing but i was earning a lot of money and so i thought what is the difference between people that are earning millions or earn a million or i mean what is the difference and i couldn't figure it out and so i kept and then i thought i know what the difference is they don't just have one source of income and only one percent of the population follow the strategy these people multiply their time by setting up msi's multiple sources of income i want you to think our world is changing there is just absolutely no question about it and the world's not getting bigger the world's actually getting smaller you're only a short time away from anywhere in the world it's actually getting smaller we have can have business all over the world you can have it all over the world you can you can have business all over the world through multiple sources of income this is a given this is real this isn't some neat idea that you're hearing in a seminar this is something you can do you can set them up all over the world you can actually have sources of income you can have money coming from places that you never dreamed of this is like monopoly i mean it's like it's a cute game but is it real no it's real it's very real you can just keep adding sources of income there is no end to it you think wow are they all the same size no they're not all the same size would appear that way they all have one thing in common look at the screen real carefully they have one thing in common they all flow into your bank ding ding you like that yeah it's beautiful and it just keeps adding up yeah isn't that cool from every part of the world it just keeps coming in and i love it i just love it so much fun i hope you enjoyed this video we put a lot of good information up here and it causes everything in your life to get better if you'd like us to notify you every time you put a new video up hit subscribe and then turn on notification check out all our videos and we will notify you when we put a new one up [Music] [Music] you

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The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey

Transcriber: Zsófia Herczeg
Reviewer: Peter Van de Ven Everyone says you have to get ready
to retire financially. And of course you do. But what they don’t tell you
is that you also have to get ready psychologically. Who knew? But it’s important
for a couple of reasons. First, 10,000 North Americans
will retire today and every day for the next 10 to 15 years. This is a retirement tsunami.

And when these folks come
crashing onto the beach, a lot of them are going to feel
like fish out of water without a clue as to what to expect. Secondly, it’s important
because there is a very good chance that you will live one third
of your life in retirement. So it’s important that you have
a heads up to the fact that there will be significant
psychological changes and challenges that come with it. I belong to a walking group
that meets early three mornings a week. Our primary goal is to put
10,000 steps on our Fitbits, and then we go for coffee
and cinnamon buns – (Laughter) more important. (Laughter) (Applause) So as we walk, we’ve gotten into the habit
of choosing a topic for discussion. And one day, the topic was, “How do you squeeze
all that juice out of retirement?” How's that for 7:00 in the morning? So we walk and we talk, and the next day,
we go on to the next topic.

But the question stayed with me because I was really having
some challenges with retirement. I was busy enough,
but I really didn’t feel that I was doing very much
that was significant or important. I was really struggling. I thought I had a pretty good idea of what success looked like
in a working career, but when it came to retirement,
it was fuzzier for me. So I decided to dig deeper. And what I discovered was
that much of the material on retirement focuses on the financial
and/or the estate side of things. And of course, they’re both important
but just not what I was looking for. So I interviewed dozens
and dozens of retirees, and I asked them the question, “How do you squeeze
all the juice out of retirement?” What I discovered
was that there is a framework that can help make sense of it all.

And that’s what I want
to share with you today. You see, there are four distinct phases that most of us move through
in retirement. And as you’ll see,
it’s not always a smooth ride. In the next few minutes, you’ll recognize
which phase you’re in if you’re retired, and if you’re not, you’ll have a better idea
of what to expect when that time comes. And best of all, you’ll know
that there is a phase four – the most gratifying,
satisfying of the four phases – and that’s where you can squeeze
all the juice out of retirement.

Phase one is the vacation phase,
and that’s just what it’s like. You wake up when you want,
you do what you want all day. And the best part
is that there is no set routine. For most people, phase one represents
their view of an ideal retirement. Relaxing, fun in the sun – freedom, baby. (Laughter) And for most folks, phase one
lasts for about a year or so, and then, strangely,
it begins to lose its luster. We begin to feel a bit bored. We actually miss our routine. Something in us seems to need one. And we ask ourselves, “Is that all there is to retirement?” Now when these thoughts and feelings
start to bubble up, you have already moved into phase two. Phase two is when we feel loss, and we feel lost. Phase two is when we lose the big five – significant losses
all associated with retirement. We lose that routine. We lose a sense of identity. We lose many of the relationships
that we had established at work. We lose a sense of purpose. And for some people,
there is a loss of power.

Now, we don’t see these things coming. We didn't see these losses coming in
because they happened all at once. It’s like, poof, gone. It’s traumatic. Phase two is also when we come
face to face with the three Ds: divorce, depression and decline – both physical and mental. The result of all of this is that we can feel
like we’ve been hit by a bus. You see, before we can
appreciate and enjoy some of the positive aspects
associated with phase three and four, you are going to, in phase two, feel fear, anxiety
and quite even depression.

That’s just the way it is. So buckle up and get ready. Fortunately, at some point,
most of us say to ourselves, “Hey, I can’t go on like this. I don’t want to spend the rest of my life, perhaps 30 years, feeling like this.” And when we do, we’ve turned the corner to phase three. Phase three is a time of trial and error. In phase three, we ask ourselves, “How can I make my life meaningful again? How can I contribute?” The answer often is to do things
that you love to do and do really well. But phase three can also deliver
some disappointment and failure. For example, I spent a couple of years
serving on a condo board until I finally got tired
of being yelled at.

(Laughter) You see, one year the board decided
that we were going to plant daffodils rather than the traditional daisies. (Laughter) And we got yelled at. Go figure. I thought about law school,
thinking perhaps of becoming a paralegal. And then I completed a program
on dispute resolution. It all went nowhere. I love to write. So I created a program
called “Getting started on your memoirs.” That program has met
with “limited success.” (Laughter) It’s been a rocky road for me too,
and I told you to buckle up. Now, I know all this can sound bad. But it’s really important to keep trying and experimenting
with different activities that’ll make you want
to get up in the morning again because if you don’t, there’s a real good chance
of slipping back into phase two, feeling like you’ve been hit by a bus.

And that is not a happy prospect. Not everyone breaks through to phase four, but those who do
are some of the happiest people I have ever met. Phase four is a time
to reinvent and rewire. But phase four involves
answering some tough questions too, like, “What’s the purpose here?
What’s my mission? How can I squeeze
all the juice out of retirement?” You see, it’s important that we find
activities that are meaningful to us and that give us a sense
of accomplishment. And my experience is that it almost always
involves service to others. Maybe it’s helping a charity
that you care about. Maybe you’ll be like the old coots. (Laughter) (Applause) Yeah. These folks took a booth
in the local farmers market and were prepared to give their advice
based on their vast years of experience to anyone who came by.

So one of their first visitors was a kid
who wanted help with his math homework (Laughter) on his tablet. (Laughter) They did the best they could. Or maybe you’ll be like my friend Bill. I met Bill a few years ago
in a 55 plus activity group. In the summer, we golf together
and walk together and bicycle together. And in the winter, we curl. But Bill had this idea that we should exercise
our brains as well. He believed that there was
a tremendous pool of expertise and experience in our group, and so he approached a number of folks and asked if they would volunteer to teach some of the things
that they love to do to others.

And almost invariably, they agreed. Bill himself taught two sessions, one on iPads and one on iPhones, because we were smart enough to know
that a number of our members had been given these things
as gifts at Christmas (Laughter) by their children, and that they barely knew
how to turn them on. The first year, we offered nine programs,
and there were 200 folks signed up. The next year, that number
expanded to 45 programs with over 700 folks participating. And the following year,
we offered over 90 programs and had 2100 registrations. Amazing. (Applause) That was Bill. Our members taught us
to play bridge and mahjong. They taught us to paint. They taught us to repair our bicycles. We tutored and mentored local school kids.

We set up English-as-a-second-language
programs for newcomers. We had book clubs. We had film clubs. We even had a few golf clubs. Exhausting but exhilarating. That’s what’s possible in phase four. And do you remember the five losses
that we talked about in phase two? The loss of our routine and identity and relationships and purpose and power? In phase four, these are all recovered. It is magic to see, magic. So, I urge you to enjoy
your vacation in phase one. (Laughter) Be prepared for the losses in phase two.

Experiment and try as many different
things as you can in phase three, and squeeze all the juice
out of retirement in phase four. (Applause).

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Spokane Fire Chief talks with KREM 2 after announcing retirement

For the first time since learning that Spokane fire chief, Brian Schafer will no longer lead the department. The chief is now speaking out. I sat down with him earlier today to ask him about the decision to step away and about the timing of it all, he told me the timing all came down to his pension. And when he was able to retire, Schaer said he wanted to be a firefighter from day one after a fire destroyed his family's home back in 1971 when he was just an infant.

This is actually the article that was written about that fire. But a lot of you are wondering about the timing and if it has anything to do with the new mayor, here's what Schafer told me, why make the announcement to retire. I was going to actually I made the announcement last year to retire this year. So, um so it shouldn't really be a big surprise that the people in the organization and uh the community have been aware.

My leadership has been aware and really it uh it's been a goal of mine to retire at the, the age for our pension system. Was your decision to retire? Did that have anything to do with the new mayor in town? No, no, but the keyboard warriors out there sure seem to have a number of different stories. And, um, you know, it is, it is always, uh, probably the most important time in an organization's, uh, life. When we have these transitions, it's really important to me to make sure that this period of transition is, is done pragmatically and that we don't drop anything. Is there anything that you hope to do that you weren't able to do now? Because of the requirements of your job? You know, I, I really uh I love fly fishing and um I don't take vacations because of the job. You know, it, when you're in this public servant, um position like a fire chief, you're expected to be 24 7. And I, I took that seriously. So now I have time to do, even if it's a little bit of time, a little bit of break to spend some time fishing and spend some time uh outdoors and not have to be connected to a car, a pager, a radio, telephone, you guys, all my friends and partners in the media, but I'm, I'm looking forward not to have that uh that uh Leash Schafer's last day will be on March 31st.

And until then he says he will help with the transition process of bringing in a new chief. I did ask him if that will be an internal or external hire. He told me he just doesn't know right now..

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Generation Wealth – Official Trailer | Amazon Studios

– If I wanna work 100 hours a
week and never see my family and die at an early age
that's my prerogative. – I would have money as big as this room. And kiss it. – 33 pounds of gold and diamonds
given to me by superstars of the world. – I love money. Come to me. – I've been a photographer for 25 years. With my lens focused on wealth,
I noticed that no matter how much people had, they still want more.

I wanna figure out why our
obsession with wealth has grown. It seemed to be a shift
in the American dream. – I know the name's of the
Kardashians better than I know the names of my neighbors. – This fictitious
lifestyle fuels this sense of inadequacy. – I have the classic Birkin
in almost every color. – The bags start $20,000 and go up. – I realized wealth was
much more than money. It was whatever gave us value. Fame, sex, even plastic surgery for dogs. – It's kind of like the end of Rome.

Society's accrue their greatest
wealth at the the moment that they face death. – If you look great and
you have a nice car, I'm all for it. But at the expense of what? – [Woman] You sell your soul to the devil. – You're so hungry for it you're blinded. – I am on the FBI most wanted list. – All of us are following the toxic dream. – If you think that money
will buy you anything and everything, you've
never ever had money. – Dollars, dinero, money is what it takes..

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Rethink Retirement – well-being beyond your bank account | Clare Davenport | TEDxBYU

Transcriber: Annet Johnson
Reviewer: gaith Takrity Do you ever dream of retirement? What’s your retirement dream? Is it pure bliss and relaxation? Can you almost feel that warm wind? Taste those fruity umbrella drinks? Lounging by the pool, endless games of golf,
walking on the beach? I’ve always loved vacations, haven’t you? So I think we’re really going to love
this constant vacation space in retirement too, right? It actually reminds me of a couple I know. Let’s call them, “Jeff and Jenny.” They’ve dreamt of retirement for years. Jeff had worked at the same company
for over 30 years. He knew everybody. He was the life of the place. And Jenny, she’d often worked two jobs
so they’d have enough.

They finally did. They moved to sunny Florida, of course. But something strange started to happen. Jeff seemed lost, lonely. They started to nip at each other. They started to quarrel. And Jenny, although she was
beginning to make community, really didn’t like to golf. She’d never been that sporty. She missed her long-time book club. She missed her best friends, her kids, her soon-to-be grandchild. What was going on? Had they not done everything right? They’d moved to sunny Florida. They’d worked with
a smart financial advisor. They’d saved enough. I ask you, if this is the dream vision
for retirement – You see it in the adverts. Why is it that so many are
dissatisfied at this age? Why is it that depression
increases by 40%? Why is it [that] substance abuse,
divorce rates are climbing? Why is everyone lonely? And people’s self-worth is low? Surely we can do better than this. Look, I’ve spent many years consulting and coaching and researching
the ideas, tools, and frameworks that best support us
during times of transition, like retirement. Look, I’m not here to tell you
whether you should or shouldn’t retire, because maybe you should
or maybe you shouldn’t.

It is up to you to design and discover. But I do want to share with you
what I know about these life changes, these life quakes, these life disruptors so we don’t end up
in a situation like Jeff and Jenny. Look, we know that transitions
are a regular part of life. They can be trying and triumphant. They can be predictable and unpredictable because life often
doesn’t follow a straight line. But my research and others’ shows us
that if we bring our intention and attention to them,
we can improve our well-being. And we can improve our well-being
in retirement too. I like to think of it as an ROI,
a return on investment. But this time for our well-being. Think of it as the “ROI”
beyond our bank account, an investment portfolio
in human flourishing, your flourishing in retirement. Where “R” is where we reframe
our current definition of retirement. “O” is where we optimize
the well-being in retirement.

And “I” is where we ignite
our way forward. So let’s “ROI,” Reframe, Optimize,
and Ignite, your retirement. Let’s start with “R”: reframe. Let’s reframe your current
definition of retirement. Look, even the word retirement
sends shivers down my spine. I really don’t like that word much. And when I look up the word “retire”
in a thesaurus, I see the strangest words: retreat, remove, exit, my personal favorite, “go to bed.” And, although I get it – It is very, very tempting
to go to bed sometimes, it does imply that we are
fading from life when in fact these years can be
some of our best years, some of our most flourishing years. So then, how did it start? Well, historically, we never
abruptly retired. We gently moved from one stage
to another in life. And then rumor has it, this gentleman – I think he looks a bit scary, actually, German Chancellor, Otto Van Bismarck,
in 1889, created this idea, this invention of retirement
when he put in place disability insurance for those over 70.

This idea was radical. But other countries followed suit,
making retirement age between 65 and 70. But what’s interesting about
this time period of 1889 was the life expectancy
was less than 44 years. A far cry from our 80′ish years today. So to be clear, this definition
or invention of retirement is over 100 years old and we have almost doubled our lifespan. So surely, can we not all agree that
we need to reframe, rethink, redesign … our retirement definition? Next, let’s “O” of the ROI, let’s optimize. Let’s optimize our well-being
in retirement. And it’s here we can learn
from some great science and research.

Edward Jones asked over 9,000 retirees, “What gives you fulfillment
in retirement?” Their answers: being authentic, spending
time with those they care for, they love, doing interesting things,
things that help them grow, and being generous, giving back. Interestingly, money was
at the bottom of the list. And, look, we know that money can
bring us freedom and flexibility. But research consistently shows us
that above a base level, money is not the secret ingredient
to happiness in life or in retirement. It’s also interesting to examine
the disconnect between what retirees are thinking about – connection, contribution, community, and pre-retirees are thinking about, which is pretty much their bank accounts
and this vacation view of retirement. And when we look at
this vacation view of retirement, we find that over time it becomes the norm and starts to lack the joy it once did. It’s probably why
Berkeley researchers found that we have a sugar rush
of well-being when we first retire and then a year or two later
a fairly sharp decline. Behavioral economists might call it
hedonic adaptation, where one more umbrella drink, one more golf game just loses its sparkle.

We can also look into the world
of positive psychology as we continue to “O”, optimize. We can examine the science of
what makes for a good life, a happy life, a life better than fine. And it goes by the acronym, PERMAV. I like to think of it
as my well-being playbook where “P” is positive emotion,
feeling good, hopeful, inspired, loving. It’s like a micro moment of joy: a good laugh, a good meal. “E” is engagement. Having interests in pursuits that fully
captivate us and take us away: help us grow, our relationships, having loving and authentic relationships
with another, with groups, with communities. “M” is meaning, that sense of purpose,
something beyond ourselves.

“A” is accomplishment, having positive progress in life. And “V” is vitality, investing in our bodies, in our minds,
because they both matter and they work together. Look, these elements collectively
make up our well-being. They matter, they work together, and we have to bring our attention
and intention to them because they can change. So it’s super important
in retirement to focus on these. We can also learn from the
blue zones of the world, those zones where people
fully embrace the PERMAV elements. They live flourishing lives and they live
an extra 10 to 15 years than most of us. The word retirement doesn’t even exist. Take Marie, for example. She’s amazing. She's 101, has her own garden. walks over a mile a day,
volunteers five days a week, and spends a lot of time
with her great friends and her six great grandchildren. She is thriving. She is optimizing her retirement years. Next, “I” of the ROI. Let’s ignite our path forward.

Let’s take action. Let’s explore ideas. Let's sneak up on the future. We know that life is not
a fixed destination but rather a continual design project. There’s not one best option for us. There's many great options
for us in retirement. We also know to break down
our ideas and our actions. We break them down small, so we feel comfortable taking action. We have a conversation, we explore an idea, we learn something new, but in a safe way. So we take some action. We adjust and edit and we take a little more action
as we ignite our way forward. So in closing, I invite you, all of you, to have a conversation
about your retirement. But maybe a little differently this time. It is never too early
and it’s never too late. Let’s create a retirement canvas full of the colors and
textures of well-being and ignited by our boundless
designs and imaginations, like Jeff and Jenny did. They moved back from Florida. They still vacation there sometimes. They bought a smaller condo,
two doors down from their best friend. Jeff decided to go back to work part-time, and he’s taking improv
classes twice a week.

And Jenny, she’s enrolled
in doing a Masters in English and still loving her long-time book club. They are prioritizing their friends, their family, and their new grandchild. They are thriving. So … what about you? Let’s begin to ROI
your retirement chapter. Let’s start with “R”, refrain. What does retirement now mean to you? And what beliefs are
no longer serving you? “O”, optimize. Who and what will you prioritize and how will you use your many,
many strengths and skills? And how does this compare
with those you care for? And “I”, ignite. What is one small step
you could take today to better understand
your “retirement act,” knowing the best can be yet to come. Thank you. (Applause).

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The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey

Transcriber: Zsófia Herczeg
Reviewer: Peter Van de Ven Everyone says you have to get ready
to retire financially. And of course you do. But what they don’t tell you
is that you also have to get ready psychologically. Who knew? But it’s important
for a couple of reasons. First, 10,000 North Americans
will retire today and every day for the next 10 to 15 years. This is a retirement tsunami. And when these folks come
crashing onto the beach, a lot of them are going to feel
like fish out of water without a clue as to what to expect. Secondly, it’s important
because there is a very good chance that you will live one third
of your life in retirement. So it’s important that you have
a heads up to the fact that there will be significant
psychological changes and challenges that come with it.

I belong to a walking group
that meets early three mornings a week. Our primary goal is to put
10,000 steps on our Fitbits, and then we go for coffee
and cinnamon buns – (Laughter) more important. (Laughter) (Applause) So as we walk, we’ve gotten into the habit
of choosing a topic for discussion. And one day, the topic was, “How do you squeeze
all that juice out of retirement?” How's that for 7:00 in the morning? So we walk and we talk, and the next day,
we go on to the next topic. But the question stayed with me because I was really having
some challenges with retirement. I was busy enough,
but I really didn’t feel that I was doing very much
that was significant or important. I was really struggling. I thought I had a pretty good idea of what success looked like
in a working career, but when it came to retirement,
it was fuzzier for me. So I decided to dig deeper. And what I discovered was
that much of the material on retirement focuses on the financial
and/or the estate side of things.

And of course, they’re both important
but just not what I was looking for. So I interviewed dozens
and dozens of retirees, and I asked them the question, “How do you squeeze
all the juice out of retirement?” What I discovered
was that there is a framework that can help make sense of it all. And that’s what I want
to share with you today. You see, there are four distinct phases that most of us move through
in retirement. And as you’ll see,
it’s not always a smooth ride. In the next few minutes, you’ll recognize
which phase you’re in if you’re retired, and if you’re not, you’ll have a better idea
of what to expect when that time comes. And best of all, you’ll know
that there is a phase four – the most gratifying,
satisfying of the four phases – and that’s where you can squeeze
all the juice out of retirement.

Phase one is the vacation phase,
and that’s just what it’s like. You wake up when you want,
you do what you want all day. And the best part
is that there is no set routine. For most people, phase one represents
their view of an ideal retirement. Relaxing, fun in the sun – freedom, baby. (Laughter) And for most folks, phase one
lasts for about a year or so, and then, strangely,
it begins to lose its luster. We begin to feel a bit bored. We actually miss our routine. Something in us seems to need one.

And we ask ourselves, “Is that all there is to retirement?” Now when these thoughts and feelings
start to bubble up, you have already moved into phase two. Phase two is when we feel loss, and we feel lost. Phase two is when we lose the big five – significant losses
all associated with retirement. We lose that routine. We lose a sense of identity. We lose many of the relationships
that we had established at work. We lose a sense of purpose. And for some people,
there is a loss of power. Now, we don’t see these things coming. We didn't see these losses coming in
because they happened all at once. It’s like, poof, gone. It’s traumatic. Phase two is also when we come
face to face with the three Ds: divorce, depression and decline – both physical and mental. The result of all of this is that we can feel
like we’ve been hit by a bus.

You see, before we can
appreciate and enjoy some of the positive aspects
associated with phase three and four, you are going to, in phase two, feel fear, anxiety
and quite even depression. That’s just the way it is. So buckle up and get ready. Fortunately, at some point,
most of us say to ourselves, “Hey, I can’t go on like this. I don’t want to spend the rest of my life, perhaps 30 years, feeling like this.” And when we do, we’ve turned the corner to phase three. Phase three is a time of trial and error. In phase three, we ask ourselves, “How can I make my life meaningful again? How can I contribute?” The answer often is to do things
that you love to do and do really well. But phase three can also deliver
some disappointment and failure. For example, I spent a couple of years
serving on a condo board until I finally got tired
of being yelled at.

(Laughter) You see, one year the board decided
that we were going to plant daffodils rather than the traditional daisies. (Laughter) And we got yelled at. Go figure. I thought about law school,
thinking perhaps of becoming a paralegal. And then I completed a program
on dispute resolution. It all went nowhere. I love to write. So I created a program
called “Getting started on your memoirs.” That program has met
with “limited success.” (Laughter) It’s been a rocky road for me too,
and I told you to buckle up. Now, I know all this can sound bad. But it’s really important to keep trying and experimenting
with different activities that’ll make you want
to get up in the morning again because if you don’t, there’s a real good chance
of slipping back into phase two, feeling like you’ve been hit by a bus.

And that is not a happy prospect. Not everyone breaks through to phase four, but those who do
are some of the happiest people I have ever met. Phase four is a time
to reinvent and rewire. But phase four involves
answering some tough questions too, like, “What’s the purpose here?
What’s my mission? How can I squeeze
all the juice out of retirement?” You see, it’s important that we find
activities that are meaningful to us and that give us a sense
of accomplishment. And my experience is that it almost always
involves service to others. Maybe it’s helping a charity
that you care about. Maybe you’ll be like the old coots. (Laughter) (Applause) Yeah. These folks took a booth
in the local farmers market and were prepared to give their advice
based on their vast years of experience to anyone who came by.

So one of their first visitors was a kid
who wanted help with his math homework (Laughter) on his tablet. (Laughter) They did the best they could. Or maybe you’ll be like my friend Bill. I met Bill a few years ago
in a 55 plus activity group. In the summer, we golf together
and walk together and bicycle together. And in the winter, we curl. But Bill had this idea that we should exercise
our brains as well. He believed that there was
a tremendous pool of expertise and experience in our group, and so he approached a number of folks and asked if they would volunteer to teach some of the things
that they love to do to others. And almost invariably, they agreed. Bill himself taught two sessions, one on iPads and one on iPhones, because we were smart enough to know
that a number of our members had been given these things
as gifts at Christmas (Laughter) by their children, and that they barely knew
how to turn them on. The first year, we offered nine programs,
and there were 200 folks signed up.

The next year, that number
expanded to 45 programs with over 700 folks participating. And the following year,
we offered over 90 programs and had 2100 registrations. Amazing. (Applause) That was Bill. Our members taught us
to play bridge and mahjong. They taught us to paint. They taught us to repair our bicycles. We tutored and mentored local school kids. We set up English-as-a-second-language
programs for newcomers. We had book clubs. We had film clubs. We even had a few golf clubs. Exhausting but exhilarating. That’s what’s possible in phase four. And do you remember the five losses
that we talked about in phase two? The loss of our routine and identity and relationships and purpose and power? In phase four, these are all recovered.

It is magic to see, magic. So, I urge you to enjoy
your vacation in phase one. (Laughter) Be prepared for the losses in phase two. Experiment and try as many different
things as you can in phase three, and squeeze all the juice
out of retirement in phase four. (Applause).

As found on YouTube

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Rethink Retirement – well-being beyond your bank account | Clare Davenport | TEDxBYU

Transcriber: Annet Johnson
Reviewer: gaith Takrity Do you ever dream of retirement? What’s your retirement dream? Is it pure bliss and relaxation? Can you almost feel that warm wind? Taste those fruity umbrella drinks? Lounging by the pool, endless games of golf,
walking on the beach? I’ve always loved vacations, haven’t you? So I think we’re really going to love
this constant vacation space in retirement too, right? It actually reminds me of a couple I know.

Let’s call them, “Jeff and Jenny.” They’ve dreamt of retirement for years. Jeff had worked at the same company
for over 30 years. He knew everybody. He was the life of the place. And Jenny, she’d often worked two jobs
so they’d have enough. They finally did. They moved to sunny Florida, of course. But something strange started to happen. Jeff seemed lost, lonely. They started to nip at each other.

They started to quarrel. And Jenny, although she was
beginning to make community, really didn’t like to golf. She’d never been that sporty. She missed her long-time book club. She missed her best friends, her kids, her soon-to-be grandchild. What was going on? Had they not done everything right? They’d moved to sunny Florida. They’d worked with
a smart financial advisor. They’d saved enough. I ask you, if this is the dream vision
for retirement – You see it in the adverts. Why is it that so many are
dissatisfied at this age? Why is it that depression
increases by 40%? Why is it [that] substance abuse,
divorce rates are climbing? Why is everyone lonely? And people’s self-worth is low? Surely we can do better than this.

Look, I’ve spent many years consulting and coaching and researching
the ideas, tools, and frameworks that best support us
during times of transition, like retirement. Look, I’m not here to tell you
whether you should or shouldn’t retire, because maybe you should
or maybe you shouldn’t. It is up to you to design and discover. But I do want to share with you
what I know about these life changes, these life quakes, these life disruptors so we don’t end up
in a situation like Jeff and Jenny.

Look, we know that transitions
are a regular part of life. They can be trying and triumphant. They can be predictable and unpredictable because life often
doesn’t follow a straight line. But my research and others’ shows us
that if we bring our intention and attention to them,
we can improve our well-being. And we can improve our well-being
in retirement too. I like to think of it as an ROI,
a return on investment. But this time for our well-being. Think of it as the “ROI”
beyond our bank account, an investment portfolio
in human flourishing, your flourishing in retirement. Where “R” is where we reframe
our current definition of retirement. “O” is where we optimize
the well-being in retirement. And “I” is where we ignite
our way forward. So let’s “ROI,” Reframe, Optimize,
and Ignite, your retirement. Let’s start with “R”: reframe. Let’s reframe your current
definition of retirement. Look, even the word retirement
sends shivers down my spine. I really don’t like that word much. And when I look up the word “retire”
in a thesaurus, I see the strangest words: retreat, remove, exit, my personal favorite, “go to bed.” And, although I get it – It is very, very tempting
to go to bed sometimes, it does imply that we are
fading from life when in fact these years can be
some of our best years, some of our most flourishing years.

So then, how did it start? Well, historically, we never
abruptly retired. We gently moved from one stage
to another in life. And then rumor has it, this gentleman – I think he looks a bit scary, actually, German Chancellor, Otto Van Bismarck,
in 1889, created this idea, this invention of retirement
when he put in place disability insurance for those over 70. This idea was radical. But other countries followed suit,
making retirement age between 65 and 70. But what’s interesting about
this time period of 1889 was the life expectancy
was less than 44 years. A far cry from our 80′ish years today. So to be clear, this definition
or invention of retirement is over 100 years old and we have almost doubled our lifespan. So surely, can we not all agree that
we need to reframe, rethink, redesign … our retirement definition? Next, let’s “O” of the ROI, let’s optimize. Let’s optimize our well-being
in retirement. And it’s here we can learn
from some great science and research. Edward Jones asked over 9,000 retirees, “What gives you fulfillment
in retirement?” Their answers: being authentic, spending
time with those they care for, they love, doing interesting things,
things that help them grow, and being generous, giving back.

Interestingly, money was
at the bottom of the list. And, look, we know that money can
bring us freedom and flexibility. But research consistently shows us
that above a base level, money is not the secret ingredient
to happiness in life or in retirement. It’s also interesting to examine
the disconnect between what retirees are thinking about – connection, contribution, community, and pre-retirees are thinking about, which is pretty much their bank accounts
and this vacation view of retirement.

And when we look at
this vacation view of retirement, we find that over time it becomes the norm and starts to lack the joy it once did. It’s probably why
Berkeley researchers found that we have a sugar rush
of well-being when we first retire and then a year or two later
a fairly sharp decline. Behavioral economists might call it
hedonic adaptation, where one more umbrella drink, one more golf game just loses its sparkle.

We can also look into the world
of positive psychology as we continue to “O”, optimize. We can examine the science of
what makes for a good life, a happy life, a life better than fine. And it goes by the acronym, PERMAV. I like to think of it
as my well-being playbook where “P” is positive emotion,
feeling good, hopeful, inspired, loving. It’s like a micro moment of joy: a good laugh, a good meal.

“E” is engagement. Having interests in pursuits that fully
captivate us and take us away: help us grow, our relationships, having loving and authentic relationships
with another, with groups, with communities. “M” is meaning, that sense of purpose,
something beyond ourselves. “A” is accomplishment, having positive progress in life. And “V” is vitality, investing in our bodies, in our minds,
because they both matter and they work together. Look, these elements collectively
make up our well-being. They matter, they work together, and we have to bring our attention
and intention to them because they can change.

So it’s super important
in retirement to focus on these. We can also learn from the
blue zones of the world, those zones where people
fully embrace the PERMAV elements. They live flourishing lives and they live
an extra 10 to 15 years than most of us. The word retirement doesn’t even exist. Take Marie, for example. She’s amazing. She's 101, has her own garden. walks over a mile a day,
volunteers five days a week, and spends a lot of time
with her great friends and her six great grandchildren. She is thriving. She is optimizing her retirement years. Next, “I” of the ROI. Let’s ignite our path forward. Let’s take action. Let’s explore ideas. Let's sneak up on the future. We know that life is not
a fixed destination but rather a continual design project. There’s not one best option for us. There's many great options
for us in retirement.

We also know to break down
our ideas and our actions. We break them down small, so we feel comfortable taking action. We have a conversation, we explore an idea, we learn something new, but in a safe way. So we take some action. We adjust and edit and we take a little more action
as we ignite our way forward. So in closing, I invite you, all of you, to have a conversation
about your retirement. But maybe a little differently this time. It is never too early
and it’s never too late. Let’s create a retirement canvas full of the colors and
textures of well-being and ignited by our boundless
designs and imaginations, like Jeff and Jenny did.

They moved back from Florida. They still vacation there sometimes. They bought a smaller condo,
two doors down from their best friend. Jeff decided to go back to work part-time, and he’s taking improv
classes twice a week. And Jenny, she’s enrolled
in doing a Masters in English and still loving her long-time book club. They are prioritizing their friends, their family, and their new grandchild. They are thriving. So … what about you? Let’s begin to ROI
your retirement chapter. Let’s start with “R”, refrain. What does retirement now mean to you? And what beliefs are
no longer serving you? “O”, optimize.

Who and what will you prioritize and how will you use your many,
many strengths and skills? And how does this compare
with those you care for? And “I”, ignite. What is one small step
you could take today to better understand
your “retirement act,” knowing the best can be yet to come. Thank you. (Applause).

As found on YouTube

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Rethink Retirement – well-being beyond your bank account | Clare Davenport | TEDxBYU

Transcriber: Annet Johnson
Reviewer: gaith Takrity Do you ever dream of retirement? What’s your retirement dream? Is it pure bliss and relaxation? Can you almost feel that warm wind? Taste those fruity umbrella drinks? Lounging by the pool, endless games of golf,
walking on the beach? I’ve always loved vacations, haven’t you? So I think we’re really going to love
this constant vacation space in retirement too, right? It actually reminds me of a couple I know. Let’s call them, “Jeff and Jenny.” They’ve dreamt of retirement for years. Jeff had worked at the same company
for over 30 years. He knew everybody. He was the life of the place. And Jenny, she’d often worked two jobs
so they’d have enough.

They finally did. They moved to sunny Florida, of course. But something strange started to happen. Jeff seemed lost, lonely. They started to nip at each other. They started to quarrel. And Jenny, although she was
beginning to make community, really didn’t like to golf. She’d never been that sporty. She missed her long-time book club. She missed her best friends, her kids, her soon-to-be grandchild. What was going on? Had they not done everything right? They’d moved to sunny Florida. They’d worked with
a smart financial advisor. They’d saved enough. I ask you, if this is the dream vision
for retirement – You see it in the adverts. Why is it that so many are
dissatisfied at this age? Why is it that depression
increases by 40%? Why is it [that] substance abuse,
divorce rates are climbing? Why is everyone lonely? And people’s self-worth is low? Surely we can do better than this. Look, I’ve spent many years consulting and coaching and researching
the ideas, tools, and frameworks that best support us
during times of transition, like retirement. Look, I’m not here to tell you
whether you should or shouldn’t retire, because maybe you should
or maybe you shouldn’t.

It is up to you to design and discover. But I do want to share with you
what I know about these life changes, these life quakes, these life disruptors so we don’t end up
in a situation like Jeff and Jenny. Look, we know that transitions
are a regular part of life. They can be trying and triumphant. They can be predictable and unpredictable because life often
doesn’t follow a straight line. But my research and others’ shows us
that if we bring our intention and attention to them,
we can improve our well-being.

And we can improve our well-being
in retirement too. I like to think of it as an ROI,
a return on investment. But this time for our well-being. Think of it as the “ROI”
beyond our bank account, an investment portfolio
in human flourishing, your flourishing in retirement. Where “R” is where we reframe
our current definition of retirement. “O” is where we optimize
the well-being in retirement. And “I” is where we ignite
our way forward. So let’s “ROI,” Reframe, Optimize,
and Ignite, your retirement.

Let’s start with “R”: reframe. Let’s reframe your current
definition of retirement. Look, even the word retirement
sends shivers down my spine. I really don’t like that word much. And when I look up the word “retire”
in a thesaurus, I see the strangest words: retreat, remove, exit, my personal favorite, “go to bed.” And, although I get it – It is very, very tempting
to go to bed sometimes, it does imply that we are
fading from life when in fact these years can be
some of our best years, some of our most flourishing years. So then, how did it start? Well, historically, we never
abruptly retired. We gently moved from one stage
to another in life. And then rumor has it, this gentleman – I think he looks a bit scary, actually, German Chancellor, Otto Van Bismarck,
in 1889, created this idea, this invention of retirement
when he put in place disability insurance for those over 70.

This idea was radical. But other countries followed suit,
making retirement age between 65 and 70. But what’s interesting about
this time period of 1889 was the life expectancy
was less than 44 years. A far cry from our 80′ish years today. So to be clear, this definition
or invention of retirement is over 100 years old and we have almost doubled our lifespan. So surely, can we not all agree that
we need to reframe, rethink, redesign … our retirement definition? Next, let’s “O” of the ROI, let’s optimize. Let’s optimize our well-being
in retirement. And it’s here we can learn
from some great science and research. Edward Jones asked over 9,000 retirees, “What gives you fulfillment
in retirement?” Their answers: being authentic, spending
time with those they care for, they love, doing interesting things,
things that help them grow, and being generous, giving back.

Interestingly, money was
at the bottom of the list. And, look, we know that money can
bring us freedom and flexibility. But research consistently shows us
that above a base level, money is not the secret ingredient
to happiness in life or in retirement. It’s also interesting to examine
the disconnect between what retirees are thinking about – connection, contribution, community, and pre-retirees are thinking about, which is pretty much their bank accounts
and this vacation view of retirement. And when we look at
this vacation view of retirement, we find that over time it becomes the norm and starts to lack the joy it once did. It’s probably why
Berkeley researchers found that we have a sugar rush
of well-being when we first retire and then a year or two later
a fairly sharp decline. Behavioral economists might call it
hedonic adaptation, where one more umbrella drink, one more golf game just loses its sparkle. We can also look into the world
of positive psychology as we continue to “O”, optimize.

We can examine the science of
what makes for a good life, a happy life, a life better than fine. And it goes by the acronym, PERMAV. I like to think of it
as my well-being playbook where “P” is positive emotion,
feeling good, hopeful, inspired, loving. It’s like a micro moment of joy: a good laugh, a good meal. “E” is engagement. Having interests in pursuits that fully
captivate us and take us away: help us grow, our relationships, having loving and authentic relationships
with another, with groups, with communities. “M” is meaning, that sense of purpose,
something beyond ourselves. “A” is accomplishment, having positive progress in life. And “V” is vitality, investing in our bodies, in our minds,
because they both matter and they work together. Look, these elements collectively
make up our well-being. They matter, they work together, and we have to bring our attention
and intention to them because they can change.

So it’s super important
in retirement to focus on these. We can also learn from the
blue zones of the world, those zones where people
fully embrace the PERMAV elements. They live flourishing lives and they live
an extra 10 to 15 years than most of us. The word retirement doesn’t even exist. Take Marie, for example. She’s amazing. She's 101, has her own garden. walks over a mile a day,
volunteers five days a week, and spends a lot of time
with her great friends and her six great grandchildren. She is thriving. She is optimizing her retirement years. Next, “I” of the ROI. Let’s ignite our path forward. Let’s take action. Let’s explore ideas. Let's sneak up on the future. We know that life is not
a fixed destination but rather a continual design project.

There’s not one best option for us. There's many great options
for us in retirement. We also know to break down
our ideas and our actions. We break them down small, so we feel comfortable taking action. We have a conversation, we explore an idea, we learn something new, but in a safe way. So we take some action. We adjust and edit and we take a little more action
as we ignite our way forward. So in closing, I invite you, all of you, to have a conversation
about your retirement. But maybe a little differently this time. It is never too early
and it’s never too late. Let’s create a retirement canvas full of the colors and
textures of well-being and ignited by our boundless
designs and imaginations, like Jeff and Jenny did. They moved back from Florida. They still vacation there sometimes. They bought a smaller condo,
two doors down from their best friend. Jeff decided to go back to work part-time, and he’s taking improv
classes twice a week.

And Jenny, she’s enrolled
in doing a Masters in English and still loving her long-time book club. They are prioritizing their friends, their family, and their new grandchild. They are thriving. So … what about you? Let’s begin to ROI
your retirement chapter. Let’s start with “R”, refrain. What does retirement now mean to you? And what beliefs are
no longer serving you? “O”, optimize. Who and what will you prioritize and how will you use your many,
many strengths and skills? And how does this compare
with those you care for? And “I”, ignite. What is one small step
you could take today to better understand
your “retirement act,” knowing the best can be yet to come. Thank you. (Applause).

As found on YouTube

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The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey

Transcriber: Zsófia Herczeg
Reviewer: Peter Van de Ven Everyone says you have to get ready
to retire financially. And of course you do. But what they don’t tell you
is that you also have to get ready psychologically. Who knew? But it’s important
for a couple of reasons. First, 10,000 North Americans
will retire today and every day for the next 10 to 15 years. This is a retirement tsunami. And when these folks come
crashing onto the beach, a lot of them are going to feel
like fish out of water without a clue as to what to expect. Secondly, it’s important
because there is a very good chance that you will live one third
of your life in retirement. So it’s important that you have
a heads up to the fact that there will be significant
psychological changes and challenges that come with it. I belong to a walking group
that meets early three mornings a week. Our primary goal is to put
10,000 steps on our Fitbits, and then we go for coffee
and cinnamon buns – (Laughter) more important.

(Laughter) (Applause) So as we walk, we’ve gotten into the habit
of choosing a topic for discussion. And one day, the topic was, “How do you squeeze
all that juice out of retirement?” How's that for 7:00 in the morning? So we walk and we talk, and the next day,
we go on to the next topic. But the question stayed with me because I was really having
some challenges with retirement.

I was busy enough,
but I really didn’t feel that I was doing very much
that was significant or important. I was really struggling. I thought I had a pretty good idea of what success looked like
in a working career, but when it came to retirement,
it was fuzzier for me. So I decided to dig deeper. And what I discovered was
that much of the material on retirement focuses on the financial
and/or the estate side of things.

And of course, they’re both important
but just not what I was looking for. So I interviewed dozens
and dozens of retirees, and I asked them the question, “How do you squeeze
all the juice out of retirement?” What I discovered
was that there is a framework that can help make sense of it all. And that’s what I want
to share with you today. You see, there are four distinct phases that most of us move through
in retirement. And as you’ll see,
it’s not always a smooth ride. In the next few minutes, you’ll recognize
which phase you’re in if you’re retired, and if you’re not, you’ll have a better idea
of what to expect when that time comes. And best of all, you’ll know
that there is a phase four – the most gratifying,
satisfying of the four phases – and that’s where you can squeeze
all the juice out of retirement. Phase one is the vacation phase,
and that’s just what it’s like.

You wake up when you want,
you do what you want all day. And the best part
is that there is no set routine. For most people, phase one represents
their view of an ideal retirement. Relaxing, fun in the sun – freedom, baby. (Laughter) And for most folks, phase one
lasts for about a year or so, and then, strangely,
it begins to lose its luster. We begin to feel a bit bored. We actually miss our routine. Something in us seems to need one. And we ask ourselves, “Is that all there is to retirement?” Now when these thoughts and feelings
start to bubble up, you have already moved into phase two. Phase two is when we feel loss, and we feel lost. Phase two is when we lose the big five – significant losses
all associated with retirement. We lose that routine. We lose a sense of identity. We lose many of the relationships
that we had established at work. We lose a sense of purpose. And for some people,
there is a loss of power. Now, we don’t see these things coming. We didn't see these losses coming in
because they happened all at once.

It’s like, poof, gone. It’s traumatic. Phase two is also when we come
face to face with the three Ds: divorce, depression and decline – both physical and mental. The result of all of this is that we can feel
like we’ve been hit by a bus. You see, before we can
appreciate and enjoy some of the positive aspects
associated with phase three and four, you are going to, in phase two, feel fear, anxiety
and quite even depression. That’s just the way it is.

So buckle up and get ready. Fortunately, at some point,
most of us say to ourselves, “Hey, I can’t go on like this. I don’t want to spend the rest of my life, perhaps 30 years, feeling like this.” And when we do, we’ve turned the corner to phase three. Phase three is a time of trial and error. In phase three, we ask ourselves, “How can I make my life meaningful again? How can I contribute?” The answer often is to do things
that you love to do and do really well.

But phase three can also deliver
some disappointment and failure. For example, I spent a couple of years
serving on a condo board until I finally got tired
of being yelled at. (Laughter) You see, one year the board decided
that we were going to plant daffodils rather than the traditional daisies. (Laughter) And we got yelled at. Go figure. I thought about law school,
thinking perhaps of becoming a paralegal. And then I completed a program
on dispute resolution. It all went nowhere. I love to write. So I created a program
called “Getting started on your memoirs.” That program has met
with “limited success.” (Laughter) It’s been a rocky road for me too,
and I told you to buckle up.

Now, I know all this can sound bad. But it’s really important to keep trying and experimenting
with different activities that’ll make you want
to get up in the morning again because if you don’t, there’s a real good chance
of slipping back into phase two, feeling like you’ve been hit by a bus. And that is not a happy prospect. Not everyone breaks through to phase four, but those who do
are some of the happiest people I have ever met.

Phase four is a time
to reinvent and rewire. But phase four involves
answering some tough questions too, like, “What’s the purpose here?
What’s my mission? How can I squeeze
all the juice out of retirement?” You see, it’s important that we find
activities that are meaningful to us and that give us a sense
of accomplishment. And my experience is that it almost always
involves service to others. Maybe it’s helping a charity
that you care about. Maybe you’ll be like the old coots. (Laughter) (Applause) Yeah. These folks took a booth
in the local farmers market and were prepared to give their advice
based on their vast years of experience to anyone who came by. So one of their first visitors was a kid
who wanted help with his math homework (Laughter) on his tablet. (Laughter) They did the best they could. Or maybe you’ll be like my friend Bill. I met Bill a few years ago
in a 55 plus activity group.

In the summer, we golf together
and walk together and bicycle together. And in the winter, we curl. But Bill had this idea that we should exercise
our brains as well. He believed that there was
a tremendous pool of expertise and experience in our group, and so he approached a number of folks and asked if they would volunteer to teach some of the things
that they love to do to others. And almost invariably, they agreed. Bill himself taught two sessions, one on iPads and one on iPhones, because we were smart enough to know
that a number of our members had been given these things
as gifts at Christmas (Laughter) by their children, and that they barely knew
how to turn them on.

The first year, we offered nine programs,
and there were 200 folks signed up. The next year, that number
expanded to 45 programs with over 700 folks participating. And the following year,
we offered over 90 programs and had 2100 registrations. Amazing. (Applause) That was Bill. Our members taught us
to play bridge and mahjong. They taught us to paint. They taught us to repair our bicycles. We tutored and mentored local school kids. We set up English-as-a-second-language
programs for newcomers. We had book clubs.

We had film clubs. We even had a few golf clubs. Exhausting but exhilarating. That’s what’s possible in phase four. And do you remember the five losses
that we talked about in phase two? The loss of our routine and identity and relationships and purpose and power? In phase four, these are all recovered. It is magic to see, magic. So, I urge you to enjoy
your vacation in phase one. (Laughter) Be prepared for the losses in phase two. Experiment and try as many different
things as you can in phase three, and squeeze all the juice
out of retirement in phase four. (Applause).

As found on YouTube

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Rethink Retirement – well-being beyond your bank account | Clare Davenport | TEDxBYU

Transcriber: Annet Johnson
Reviewer: gaith Takrity Do you ever dream of retirement? What’s your retirement dream? Is it pure bliss and relaxation? Can you almost feel that warm wind? Taste those fruity umbrella drinks? Lounging by the pool, endless games of golf,
walking on the beach? I’ve always loved vacations, haven’t you? So I think we’re really going to love
this constant vacation space in retirement too, right? It actually reminds me of a couple I know. Let’s call them, “Jeff and Jenny.” They’ve dreamt of retirement for years. Jeff had worked at the same company
for over 30 years. He knew everybody. He was the life of the place. And Jenny, she’d often worked two jobs
so they’d have enough. They finally did. They moved to sunny Florida, of course. But something strange started to happen. Jeff seemed lost, lonely. They started to nip at each other. They started to quarrel. And Jenny, although she was
beginning to make community, really didn’t like to golf. She’d never been that sporty. She missed her long-time book club. She missed her best friends, her kids, her soon-to-be grandchild.

What was going on? Had they not done everything right? They’d moved to sunny Florida. They’d worked with
a smart financial advisor. They’d saved enough. I ask you, if this is the dream vision
for retirement – You see it in the adverts. Why is it that so many are
dissatisfied at this age? Why is it that depression
increases by 40%? Why is it [that] substance abuse,
divorce rates are climbing? Why is everyone lonely? And people’s self-worth is low? Surely we can do better than this.

Look, I’ve spent many years consulting and coaching and researching
the ideas, tools, and frameworks that best support us
during times of transition, like retirement. Look, I’m not here to tell you
whether you should or shouldn’t retire, because maybe you should
or maybe you shouldn’t. It is up to you to design and discover. But I do want to share with you
what I know about these life changes, these life quakes, these life disruptors so we don’t end up
in a situation like Jeff and Jenny.

Look, we know that transitions
are a regular part of life. They can be trying and triumphant. They can be predictable and unpredictable because life often
doesn’t follow a straight line. But my research and others’ shows us
that if we bring our intention and attention to them,
we can improve our well-being. And we can improve our well-being
in retirement too. I like to think of it as an ROI,
a return on investment. But this time for our well-being. Think of it as the “ROI”
beyond our bank account, an investment portfolio
in human flourishing, your flourishing in retirement. Where “R” is where we reframe
our current definition of retirement. “O” is where we optimize
the well-being in retirement. And “I” is where we ignite
our way forward. So let’s “ROI,” Reframe, Optimize,
and Ignite, your retirement. Let’s start with “R”: reframe. Let’s reframe your current
definition of retirement. Look, even the word retirement
sends shivers down my spine. I really don’t like that word much. And when I look up the word “retire”
in a thesaurus, I see the strangest words: retreat, remove, exit, my personal favorite, “go to bed.” And, although I get it – It is very, very tempting
to go to bed sometimes, it does imply that we are
fading from life when in fact these years can be
some of our best years, some of our most flourishing years.

So then, how did it start? Well, historically, we never
abruptly retired. We gently moved from one stage
to another in life. And then rumor has it, this gentleman – I think he looks a bit scary, actually, German Chancellor, Otto Van Bismarck,
in 1889, created this idea, this invention of retirement
when he put in place disability insurance for those over 70. This idea was radical. But other countries followed suit,
making retirement age between 65 and 70. But what’s interesting about
this time period of 1889 was the life expectancy
was less than 44 years. A far cry from our 80′ish years today. So to be clear, this definition
or invention of retirement is over 100 years old and we have almost doubled our lifespan.

So surely, can we not all agree that
we need to reframe, rethink, redesign … our retirement definition? Next, let’s “O” of the ROI, let’s optimize. Let’s optimize our well-being
in retirement. And it’s here we can learn
from some great science and research. Edward Jones asked over 9,000 retirees, “What gives you fulfillment
in retirement?” Their answers: being authentic, spending
time with those they care for, they love, doing interesting things,
things that help them grow, and being generous, giving back.

Interestingly, money was
at the bottom of the list. And, look, we know that money can
bring us freedom and flexibility. But research consistently shows us
that above a base level, money is not the secret ingredient
to happiness in life or in retirement. It’s also interesting to examine
the disconnect between what retirees are thinking about – connection, contribution, community, and pre-retirees are thinking about, which is pretty much their bank accounts
and this vacation view of retirement.

And when we look at
this vacation view of retirement, we find that over time it becomes the norm and starts to lack the joy it once did. It’s probably why
Berkeley researchers found that we have a sugar rush
of well-being when we first retire and then a year or two later
a fairly sharp decline. Behavioral economists might call it
hedonic adaptation, where one more umbrella drink, one more golf game just loses its sparkle. We can also look into the world
of positive psychology as we continue to “O”, optimize. We can examine the science of
what makes for a good life, a happy life, a life better than fine. And it goes by the acronym, PERMAV. I like to think of it
as my well-being playbook where “P” is positive emotion,
feeling good, hopeful, inspired, loving. It’s like a micro moment of joy: a good laugh, a good meal. “E” is engagement. Having interests in pursuits that fully
captivate us and take us away: help us grow, our relationships, having loving and authentic relationships
with another, with groups, with communities. “M” is meaning, that sense of purpose,
something beyond ourselves.

“A” is accomplishment, having positive progress in life. And “V” is vitality, investing in our bodies, in our minds,
because they both matter and they work together. Look, these elements collectively
make up our well-being. They matter, they work together, and we have to bring our attention
and intention to them because they can change. So it’s super important
in retirement to focus on these. We can also learn from the
blue zones of the world, those zones where people
fully embrace the PERMAV elements. They live flourishing lives and they live
an extra 10 to 15 years than most of us. The word retirement doesn’t even exist. Take Marie, for example. She’s amazing. She's 101, has her own garden.

Walks over a mile a day,
volunteers five days a week, and spends a lot of time
with her great friends and her six great grandchildren. She is thriving. She is optimizing her retirement years. Next, “I” of the ROI. Let’s ignite our path forward. Let’s take action. Let’s explore ideas. Let's sneak up on the future. We know that life is not
a fixed destination but rather a continual design project. There’s not one best option for us. There's many great options
for us in retirement. We also know to break down
our ideas and our actions. We break them down small, so we feel comfortable taking action. We have a conversation, we explore an idea, we learn something new, but in a safe way. So we take some action. We adjust and edit and we take a little more action
as we ignite our way forward. So in closing, I invite you, all of you, to have a conversation
about your retirement. But maybe a little differently this time. It is never too early
and it’s never too late. Let’s create a retirement canvas full of the colors and
textures of well-being and ignited by our boundless
designs and imaginations, like Jeff and Jenny did.

They moved back from Florida. They still vacation there sometimes. They bought a smaller condo,
two doors down from their best friend. Jeff decided to go back to work part-time, and he’s taking improv
classes twice a week. And Jenny, she’s enrolled
in doing a Masters in English and still loving her long-time book club. They are prioritizing their friends, their family, and their new grandchild. They are thriving. So … what about you? Let’s begin to ROI
your retirement chapter. Let’s start with “R”, refrain. What does retirement now mean to you? And what beliefs are
no longer serving you? “O”, optimize. Who and what will you prioritize and how will you use your many,
many strengths and skills? And how does this compare
with those you care for? And “I”, ignite.

What is one small step
you could take today to better understand
your “retirement act,” knowing the best can be yet to come. Thank you. (Applause).

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