So, we look critically at ourselves:
Scenario #1 – We are in pretty good shape and very often we are complemented for how well we have “kept” ourselves. For men and women people smile in wonder because we look so “good” given what we say is our age! We lift our chins higher and smile broadly basking in the satisfaction of having “kept ourselves” well! To the world, we look all set for the next 30 years of our lives continuing in the same vein!
Scenario #2 – We know that we did not exercise, eat or do so many of the things we should have done so now we do not “look” or “feel” as good as we should. It’s not life threatening, but we know the next 30 years of life will likely bring more difficulties than now exist.
Not evident to many onlookers is a deep concern each individual is carrying – they have not saved enough during their peak earning years so resources may cover just about 5 of the expected 30 years living expenses in the best case. Further, pensions do not work as salaries did as they try to maintain their “good looks” or to keep their “challenges” in check. Both know that “something” will have to give and neither is sure of what that “something” is.
This financing gap is a significant source of stress that compromises each individual’s ability to meet the other critical platforms of the +50 life: maintaining their well-being and remaining connected to a relevant community.
The truth is that most 50+ individuals know they do not have the resources to take them comfortable through the expected 30-year post-work lifespan – the 3rd Act so they must find a way to supplement their income. When salaried options are limited they must use their own resources, skills and imagination, to create something others will want to buy from them. This is not usually difficult as most would have had careers that make this thought process relatively easy. The challenge comes in finding the persons who would want to buy their offering (customers) and to approach them to make the purchase (sell). This is where our individuals find themselves in unfamiliar territory and many begin to panic!!!
Our scenario #1 and #2 personalities find themselves unable, unwilling or just not knowing how to make the switch from being a salaried employee (corporate mindset) to being responsible for generating your own income (the entrepreneurial mindset). A switch that is critical for survival in the 3rd Act – those final 30 years where only 5 may be funded.
Part of our mission at Conec-Tions 50+ is to support individuals through this transition. Stay tuned to our various platforms as our conversations are designed to support your transition from the Corporate to the Entrepreneurial mindset to ensure a satisfying 3rd Act.
Written by Terri-Ann Joseph-Brathwaite , Business Development Consultant & Co-Creator of CONEC-TIONS 50+