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Kevin W. McCarthy

The Professor of On-Purpose

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Baby Boom Generation

Will You Be a Boom or Bust?

August 16, 2018 By kwmccarthy

The following text of this On-Purpose Business Minute is dedicated to Baby Boomers, but the video is applicable to anyone in, entering, or exiting the workforce.

Think of a Baby Boomer you know—he or she may be your parents or you.

Three big trends are converging to create an economic swirl of circumstances that will define their next twenty to thirty years.

  1. Baby Boomers are now hitting retirement age in record numbers.
  2. The world economy is unstable and so are many retirement and pension plans.
  3. Baby Boomers are retiring from jobs, but not from life, or the desire (need!) to keep earning.

Many Boomers will find themselves with

  • an empty nest
  • plenty of time on their hands
  • a desire to make a difference
  • a smaller retirement nest egg or pension than anticipated

Rather than heading for assisted living, they’ll be doing a “working retirement”—some by choice and others by necessity.

So what’s your plan for retirement?

Many of your friends may be saying, “I want to retire to Florida or Arizona to play golf, eat out, see movies, read books, relax, and visit my grandchildren.” Some of you may be thinking, “I’m interested in beginning my own business.” I hope so!

Perry James is a character appearing in both The On-Purpose Person and The On-Purpose Business Person. He’s a retired gentleman who provides mentoring and consulting services to a variety of small- and medium-sized business owners.

Perry is based on a dear friend and mentor of mine—Perry Nies, an MIT graduate with a Harvard Business School MBA, and retired business executive and owner. When I was in my early thirties Perry engineered me through some true business challenges. To this day we remain friends and are connected through church. At over 90 years of age Perry is an engaged and vital contributor who still consults and is involved in ministries. He’s also a role model for many Boomers of how to have an On-Purpose retirement.

 

The Baby Boom began in 1945. Today, the wave of Baby Boomers is being presented with a remarkable opportunity to dream and plan their “retirement.” Many will become “retired professionally” but seek to keep an active hand and mind in the affairs of business and life. I know for a fact that the Millennial and Gen X Generations need their wisdom, experience, and skills. I’m at the tail end of the Baby Boom and I value their counsel.

What if the most on-purpose years of your career are just around the corner … and you never make the turn because you hadn’t planned on it?

This blog post is simply my way of putting the challenge before the retiring Baby Boomers—keep Booming (and blooming).

  • Plan new businesses
  • Outline books you’ve always wanted to write
  • Offer your talent
  • Be a mentor
  • Stay connected
  • Think ahead
  • Develop your business plan now not later

Once they’re out of the flow of activity, most never return because they’ve fallen behind and the effort to get back up to speed is overwhelming.

Avoid getting caught short at retirement without a life and work plan. Without one, you’re likely to become a Baby Buster instead of a Baby Boomer.

To Do: Begin writing what your future could be. Download the Discovery Guide to help you get started.

Are You An Explorer?

February 6, 2018 By kwmccarthy

Age doesn’t matter when it comes to developing the attitude of being an explorer.

Adventure is most often associated with youth. Let’s not, however, confuse inexperience with adventure. To be an explorer of life is to see life as an adventure versus a chore or time served on the planet. I know adventurers who are 9 and those who are in their 90s. The choice is yours.


Cultivating a spirit of curiosity about the world is a noble endeavor, but don’t forget yourself.

The better you know who you are the richer that journey beyond you will be and become. The ultimate exploration is to know oneself because in the process of that journey you’ll face some very challenging ordeals (Hey, it’s an adventure!) that will clarify your thinking and provoke your beliefs. To understand your design, you’ll look into the mind and heart of the Designer. Wow!

“We must develop a compelling vision of later life: one that does not assume a trajectory of decline after fifty, but one that recognizes it as a time of change, growth, and new learning, a time when our courage gives us hope.”

Sara Lawrence-Lightfoot
Author: The Third Chapter: Passion, Risk, and Adventure

 

“We are here to be excited from youth to old age, to have an insatiable curiosity about the world. Aldous Huxley once said that to carry the spirit of the child into old age is the secret of genius. And I buy that.

“We are also here to genuinely, humbly, and sincerely help others by practicing a friendly attitude. And every person is born for a purpose. Everyone has a God-given potential, in essence, built into them. And if we are to realize life to its fullest, we must realize that potential.”

Norman Vincent Peale
Protestant pastor, Author, The Power of Positive ThinkingCrazy_grandpa

This photo to the right is not Norman Vincent Peale. It is Mr. Six of Six Flags. I want to meet him! Dig the shoes! Watch him in action! (He’s actually an actor, not a real old guy but you get the point about the attitude.)

The aging process is inevitable.

How we age, however, is significantly within our control. Just because you might be part of an “aging population,” such as the Baby Boomers, it doesn’t mean that you are

  • over the hill
  • washed up
  • kaput
  • done for

Heck, you’re finally better equipped than ever.

Keith Lawrence is the co-author of Your Retirement Quest. Keith has been researching and advising those approaching and in retirement. Why wait to get started until you are retired or in assisted living to begin your Retirement Quest? Discover your Retirement Quest today regardless of what decade of life you are in.

Just about every day, I visit my Mom who is in her early 90s. This affords me the honor to meet her friends, many of whom are well into their 90s. One woman just turned 105 and looks like she is 75. I learn a lot from being with this Greatest Generation in this independent living facility. They’re an interested lot who read, discuss, debate, and embrace life. One observation I’ve had about this vital group—they aren’t the grumpy old people so often portrayed. They’re vibrant, interested, and interesting. As Peale recommends, they’ve carried a youthful curiosity into their advanced years.

Begin by discovering who you really are. Retirement age is not mandated by an employer or the government; it comes when we decide to stop discovering who we really are and what we are capable of achieving even to our death bed.

Those who never tire of learning, never retire.

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