When I'm 64 will you still need me?

[Seniorpreneur]

I am interested to find out what business strategy you will have as a Senior when you turn 60 Plus? Are you going to be creative with some productive projects OR are you going to just lay back sit in your rocking chair and enjoy the leisure life? What business ideas do you have for retirement that will be good enough to become a Seniorpreneur in the last stage of your life AND maybe have the opportunity to build a lasting Legacy.

Thanks for listening.

Joe Wasylyk
Seniorpreneur

 

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[Bilgefisher]

Lets get you out of parking. I'm anxious to see where this thread goes. Although most folks on this forum are under 60. Most of us are working on our plans so the rest of our lives can be spent doing what we desire.

 

[Seniorpreneur]

Yes, I am presently working on my manuscript to write a non-fiction creative book on the topic of seniorpreneuring. At the present time I am in the Research phase only of this project. So far I'm getting some comments that Seniors (60 Plus) just want to take it easy and live off their passive income for the rest of their lives. This strategy by itself seems to be very boring and not very productive for the individual in the last stage of their life. My strategy is to develop some passive income to hopefully pay the bills. However; I also want to empower seniors (60 Plus) to become entrepreneurs or seniorpreneurs. As a result, this will create a new movement that will enable seniors (60 Plus) to be more productive and creative rather than just sitting in a rocking chair and counting their dollars earned through passive income.

To sample some of my current research work please see Google and just type in Seniorpreneur Project.

Joe Wasylyk
Seniorpreneur

 

[Yankees338]

I'm only 17 now -- so I haven't really experienced the whole full-time working routine yet -- but I don't really plan on retiring fully until I'm into my 70s. I'll definitely ease up on the amount of work I'll be doing, but I'll probably still be looking for deals locally.

 

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[msa1]

I think it wil be a combination of working & retirement. My plan would get me (physically) out of contracting.

Assuming the RE side goes as planned, I would not have a problem just dumping the contracting side. Of course if the company is doing well I would happily keep it open.

Best retirement for me? Owning my businesses, meaning they would operate completely without my input (if I chose). I would still enjoy going out and purchasing property.

"Its not the kill, its the thrill of the chase."

 

[Kung Fu Steve]

Although I am quite a bit younger I would give the same advice I give to several of my older martial arts students. I don't pretend to have as much life experience but these are my thoughts:

I would change your mentality first off. You keep labeling yourself as a "Seniorpreneur" which there is absolutely nothing wrong with this, EXCEPT, that I'm sure it holds a lot of limiting beliefs on what you can and cannot do. I would do as Mr. Tony Robbins suggests and look at what your beliefs are. Write them down on paper in black and white, that way you can change them.

If you continue to think about "paying the lousy bills" that is exactly what you will do, pay the lousy bills. But if you focus on what you are saying, about creating a legacy... that will require a completely new level of thinking.

Tony Robbins relates the story of Marva Hooks, who at age 67 decided to become a mountain climber with no experience whatsoever. I believe at age 87 was when she climbed to the top of Mt. Fuji. Makes you really think about what is possible. For more information on all of this I would pick up "Awaken the Giant Within" by Tony Robbins.

Set your goal, define your plan, and do it. (all of these have been posts on here, just do a search for them, or they often show themselves on the top list of threads) I think it would be great to have another success story to relate to my "seasoned" students.

 

[Happy]

Great title and sadly all too true if your life’s work has been poured into someone else’s corporate enterprise. (That could be a whole new thread and I don’t want to get off topic)

As odd as it may seem, I never plan to retire. My life’s work just changes from time to time.

There is much knowledge to be gained from the life experiences of our elder citizens, experience that could “Fast Track” or “Jump Start” the business/life agendas of younger generations. Sharing this information to help others advance their dreams becomes one of the best ways I can imagine to leave a lasting legacy. Although money is powerful, I believe that knowledge is even more so.

Enjoy the Ride!
Happy

 

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[White8]

I've always planned to work until I am unable. Work has always been a big part of my life and retirement seems like it would quickly get boring. How many trips to Hawaii or golfing days with your friends before it gets boring?

Something else I have noticed with the retirement age people I know, the ones who continue to work at least some of the time are in better health physically and mentally.

 

[kimberland]

Well, due to a bad ticker
(and I have it in a glorious big time way),
no one in my family has lived past the age of 70
so this isn't really a concern for me.

However, staying current and marketable is.

My F-I-L worked until mid 70's
(he double dipped, took pension and got hired back).
How did he do it?
Even in his 70's, he was taking courses,
courses his 20 year old co-worker
thought the company should pay for
(they didn't).

I was reading Instant Income by Janet Switzer
(great book on business building, terrible name).
She advised that if you want to know
if your prospective employee is a self starter,
ask him/her about the last courses taken
AND
who paid for it.
If they paid for their own courses,
they're a self starter.

Self starters are never out of work,
no matter their age.

 

[marknels]

I hope I am not in a position where I have to be working for someone else when I am 64. My goal has always been to retire early.

Now my goal is to have enough passive income so I do not have to work and then continue to teach our youth how to be entrepreneur's.

 

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[Cat Man Du]

1. Don't Smoke.

2. Don't Drink.

3. Don't Retire.

As heard in a talk by an 97 year old well known lady who, of course, still works.

 

[Seniorpreneur]

Although I am quite a bit younger I would give the same advice I give to several of my older martial arts students. I don't pretend to have as much life experience but these are my thoughts:

I would change your mentality first off. You keep labeling yourself as a "Seniorpreneur" which there is absolutely nothing wrong with this, EXCEPT, that I'm sure it holds a lot of limiting beliefs on what you can and cannot do. I would do as Mr. Tony Robbins suggests and look at what your beliefs are. Write them down on paper in black and white, that way you can change them.

If you continue to think about "paying the lousy bills" that is exactly what you will do, pay the lousy bills. But if you focus on what you are saying, about creating a legacy... that will require a completely new level of thinking.

Tony Robbins relates the story of Marva Hooks, who at age 67 decided to become a mountain climber with no experience whatsoever. I believe at age 87 was when she climbed to the top of Mt. Fuji. Makes you really think about what is possible. For more information on all of this I would pick up "Awaken the Giant Within" by Tony Robbins.

Set your goal, define your plan, and do it. (all of these have been posts on here, just do a search for them, or they often show themselves on the top list of threads) I think it would be great to have another success story to relate to my "seasoned" students.

Steve,

Thanks for your input. The term Seniorpreneur for me suggests elders to be more creative and productive rather than just having limiting beliefs. However; I think limiting beliefs do exist for Seniors (60 Plus) when the focus is on just entitlement and more consumption type of activities. I believe that most "seasoned" elders will need to be re-educated and motivated in order to take on the role of a Seniorpreneur and possibly build a lasting Legacy.

Joe Wasylyk
Seniorpreneur

 

[andviv]

I think the biggest challenge will be how to present to somebody that just earned their retirement by working 40 years for somebody else and rely on a paycheck that they could do something else and make money while having a fun/interesting time, without risking their retirement nest.

What do you have in mind about this?

PS: I really like the term Seniorpreneur.

 

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[Kung Fu Steve]

I completely agree. You brain can be your best friend or your worst enemy. Teaching people how to change their mindset as to what is possible especially at an older age I think will be the difference between you leaving a legacy behind and not.

I share your goals actually. I am 22 and came from a very rough and poor background. I want to show people especially teenagers that they really CAN do it. No matter what barriers or challenges you have. Please keep me updated on your progress!

 

[Seniorpreneur]

I think the biggest challenge will be how to present to somebody that just earned their retirement by working 40 years for somebody else and rely on a paycheck that they could do something else and make money while having a fun/interesting time, without risking their retirement nest.

What do you have in mind about this?

PS: I really like the term Seniorpreneur.

Yes, working 40 years for somebody else seems to be the current mantra. However; to change the present situation will probably require a new paradigm shift for seniors (60 Plus) that will hopefully start some business support groups to get this movement going in the seniorpreneurship direction. This can also provide an opportunity for seniors (60 Plus) to increase their retirement nest egg. I know that this is not going to be for everyone. Some seniors behave as they are just preparing to die too early; while other seniors are in the fast lane developing spectacular businesses and are full of energy running to the finish line. So, at the present time I am just in the research phase of this possible new seniors movement. See Google: Seniorpreneur Project. Later I will be in a better position to comment. Thanks.

Joe Wasylyk
Seniorpreneur

 

[Seniorpreneur]

Thanks for all these great e-mails regarding my Seniorpreneur Project. What do I have in mind now....... especially since I will be turning 64 tomorrow?
After reading the various e-mails I have decided first of all on Lifelong Learning inititives;especially taking some creative writing courses for the purpose of writing a book with a deadline of May 21, 2010 my official date of retirement. I would like to know how many of you are actually planning your retirement? How many are actually going to trust their financial advisor to tell them how they should live their retirement life?
Thanks again for all of your help.

Joe Wasylyk
Seniorpreneur

 

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[Kung Fu Steve]

I intend to follow a similar idea to Timothy Ferris (4hourworkweek.com). The basic idea is instead of waiting for the "pot of gold" at the end of the rainbow, the goal is to distribute retirement equally throughout life. So what I am personally working on now is automating things with my current business and create another business (which is completely automated) to supplement a 1 week vacation every month. First destination? St. Thomas. I've been there before but I would love to go back. Then I am looking for Japan. And others.

So to answer you question, I am planning my retirement for sooner rather than later. Definitely not with 401k's and IRAs.

 

[randallg99]

you have to plan for longer life span. it's speculated people born today will have an average life span well into the 90's.

It's also much more costly in the "senior" years to live so just make sure you make loads of cash soon.

 

[Seniorpreneur]

Seniorpreneur Rides Again

Although I am quite a bit younger I would give the same advice I give to several of my older martial arts students. I don't pretend to have as much life experience but these are my thoughts:

I would change your mentality first off. You keep labeling yourself as a "Seniorpreneur" which there is absolutely nothing wrong with this, EXCEPT, that I'm sure it holds a lot of limiting beliefs on what you can and cannot do. I would do as Mr. Tony Robbins suggests and look at what your beliefs are. Write them down on paper in black and white, that way you can change them.

If you continue to think about "paying the lousy bills" that is exactly what you will do, pay the lousy bills. But if you focus on what you are saying, about creating a legacy... that will require a completely new level of thinking.

Tony Robbins relates the story of Marva Hooks, who at age 67 decided to become a mountain climber with no experience whatsoever. I believe at age 87 was when she climbed to the top of Mt. Fuji. Makes you really think about what is possible. For more information on all of this I would pick up "Awaken the Giant Within" by Tony Robbins.

Set your goal, define your plan, and do it. (all of these have been posts on here, just do a search for them, or they often show themselves on the top list of threads) I think it would be great to have another success story to relate to my "seasoned" students.

Kung Fu How Do You Do?

Thanks for your advice and kind thoughts. I still have my label, I call it a Brand, Seniorpreneur. My goal is to write a new book about empowering Seniors(50 Plus) to become Entrepreneurs through Lifelong Learning. I agree with you that regarding building a Legacy it will require a completely new level of thinking. For my purposes I call it the New Seniors(50 Plus) Mindset.

At Age 66 I now have my own website: Seniorpreneur Project and I have finished writing my first new Book titled: Encore! Encore! Seniors(50 Plus) As Entrepreneurs: Their Time Has Come.

This is my own particular example of 'Awakening the Giant Within'. I would be interested in any new comments that you might have so that I could speed up my Fast lane Speedometer.
Thanks again!

Seniorpreneur

 

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[Kung Fu Steve]

I took a look at the site and the book. Looks like you've got a great start.

I would definitely recommend one of these guys on the fastlane here to spruce up
your site, make it looking clean and modern. (Just because something is old-ER
doesn't mean your website has to look like it!)

Many would give you a free template or do it for a couple of bucks if you asked nicely.

Funny you posted today, my mother (61) just lost her job last week. Once again, no
money, no retirement, no nothing. Luckily I'm doing well enough these days I can help
out - BUT - it certainly doesn't make her feel good.

I've been trying my best to get her to see the entrepreneurial side of things. Doing some
buying and selling, creating some kind of value. Starting small and working up.

Let me ask you a question - how do you get an old dog to understand they CAN learn new
tricks??

The attitude of her (and others) seems to be "well... I guess I'll just get another job, for less
pay, and hopefully I die soon and won't have to worry about it..."

... very frustrating.

Anyways, check this out: Harvey Mackay: New York Times Best Seller Launches New Book! Free Videos on How To Get the Job of Your Dreams!

It's an older gentlemen named Harvey Mackay (another awesome Minnesotan) but he is using
new technology to provide information to this crowd. Take great notes.

 

[The-J]

Colonel Sanders was 63 when he first started franchising his fried chicken restaurant. He started his first food service station at age 40. He sold his empire at age 74.

No worries here.

 

[Seniorpreneur]

Kung Fu,

Learning new tricks for older adults is extremely challenging but it is a necessity. The Key is Lifelong Learning and expect that learning new things at an older age is not easy but not impossible. I'm still learning myself about the subjects of Social Media, Websites, Blogs, etc. My Research for the new book started in the Public Library because I didn't have a personal computer.

If your Mother is not really interested in the business field, I suggest that she could register for a course in the Arts domain such as painting/drawing pictures, writing a new book, or producing film, digital pictures, or music. She has to be passionate about what she wants to do to be active, creative and productive in her own retirement life.

I hope that this helps.

Seniorpreneur

 

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[PatrickP]

I've always planned to work until I am unable. Work has always been a big part of my life and retirement seems like it would quickly get boring. How many trips to Hawaii or golfing days with your friends before it gets boring?

Something else I have noticed with the retirement age people I know, the ones who continue to work at least some of the time are in better health physically and mentally.

I feel the same way. The thought of retirement is revolting to me.

 

[Pete799p]

Retirement for me means that I no longer have to worry about money and I can do all of the fun things I want to do. Like start some of my small business ideas that I think will not make a ton of money but would be fun to create (currently out of my financial reach and risk tolerance). Or design some product ideas I have that I am unsure of but since the money doesnt matter do it anyway and see what happens. Business is fun for me especially without the stress of losing or making money, although making money is much more fun then lossing it.

 

[PatrickP]

Colonel Sanders was 63 when he first started franchising his fried chicken restaurant. He started his first food service station at age 40. He sold his empire at age 74.

No worries here.

VERY inspirational!

Makes you really think that age is just a number.

 

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