As we come to the conclusion of another year, I was pondering what topic would be most appropriate?  I came to the realization that it was 50 years ago this month that I graduated from the University of Wisconsin – Whitewater and embarked upon my career path.  Seems like only yesterday that I moved to Oshkosh, Wi and attempted to stake out my career selling life insurance with Northwestern Mutual.   2 years later, I’d find myself starting with Bache & Co and then onto EF Hutton as a financial advisor, before moving to Texas in 1983, continuing my work in the financial services industry and retirement income planning.  Now here we are 50 years later, still speaking  and consulting with individuals on retirement income!

 A Look Back to the Year 1975

The Vietnam War ended, Bill Gates started Microsoft, a couple of unknowns Stephen Wozniak and Steve Jobs developed the first Apple 1 Prototype.  Gerald Ford was President and survived 2 assassination attempts within 17 days of each other (SOUND FAMILIAR?).  Postage stamps were $.10, a quart of milk was $.46 and a loaf of bread was $.33.  The Average household income was $14,502, one could buy a new home for $39,300 and a new car for $4,950.  What was surprising was the unemployment rate was 8.5%.  I had a 2 bedroom apartment in Oshkosh that costs $155/mo. and I had to get a roommate, since I only made $6,000 that year!

What’s Really Changed?

I think it’s fair to say that the cost of everything has skyrocketed over the years, but what’s really changed?  If one really thinks that life has changed?

History Quiz:  Who & When uttered these concerns?

• The threat of international war
• The demise of marriage and the rise of divorce
• The rebellion of their youth and their apathetic attitude in following counsel of their elders, preferring instead to embrace new fads
• The corruption of politics and injustice within the courts
• The terrible condition of the potholes in the public roads

> Herodotus and Thucydides, ancient Greeks 5^th Century B.C.

Holiday Homework Assignment:

• Please go to your bookshelf or library over the holidays read the autobiography of Solomon (Book of Ecclesiastes in bible) written 900 years before Christ. It’s only 12 chapters and I consider it required reading especially when one is confused with one’s life or what’s going on today within the country and the world!  As an aside I’ve read 11 books interpreting these 12 chapters.

“Vanity of Vanities, all is Vanity.  There is nothing new under the sun. Generations come and generations go, but the earth remains forever.  The sun rises the sun sets, and hurries back to where it rises.”  Eccl 1: 3-5

• Go listen to the song by the Byrds recorded in 1965  Turn!  Turn! Turn!  The lyrics directly taken from the Book of Ecclesiastes 3: 1-8.   A Time for Everything, and a season for every activity under heaven.
• Finally go to and listen to “Cats in the Cradle” by Harry Chapin recorded in 1974. If you have children and grandchildren, tell me this doesn’t resonate with your own life?

Commencement!

Over the past year and into the next and into the foreseeable future many of you are or will be contemplating retiring, much like my 3 year old granddaughters excitement to Santa coming on Wednesday.  My industry has promoted RETIREMENT as some sort of nirvana for decades, but is Retirement a worthy objective?  Is it the pinnacle of achievement that once attained your completely satisfied for the rest of your life?   Is it endless vacations, sleeping in, hitting golf balls 5x per week, a 2^nd home, etc.?   For many people the first 6 months to a year of retirement is like a honeymoon, but like everything else, after a while you find something lacking or missing in your life.  You’d be surprised to know the large number of people who actually flunk retirement and desire to go back to work.  Many are unaware that retirement puts a tremendous strain on relationships which has led to malady called GRAY DIVORCE!

You won’t find the word RETIREMENT in the bible.  My favorite definition of retirement is “the disposal of a fixed asset, after its useful life.”  The world abhors a VOID and when one retires you have created a VOID in your calendar.  That VOID will fill up, the question is whether it fills up with good stuff or junk?  I asked my doctor last year of his experiences with retirees?  He said “those who retire to the couch, deteriorate and atrophy, but those with Purpose – THRIVE!”

I think a Successful Retirement Plan starts when one attempts to determine the next step.

1. Take an INVENTORY of where you’re at and what you have (Talent, Skills, Desires)

I think the FRONT 9 of LIFE is doing what the world (family, peers, etc.) said we should do with our lives!  The Back 9 of Life is doing what we were put on this earth to do!  It’s the Purpose, the Passion, the inner Calling that we’ve always haboured, but for what ever reason got pushed to the rear.

2. Create a Game Plan of what you might want to do or try

It’s almost like we need a Guidance Counselor for people contemplating retirement.  It’s an opportunity to dream and explore new options and don’t be afraid if you fail at something.  You didn’t fail, you just learned that it wasn’t for you!  Nothing should be off the table, this is your life and believe it or not we all have a finite amount of time left.  Use it wisely!

3. Become a Good Steward (Biblical definition)

The manager of a household.  The steward was not the owner of the assets, but a responsible administrator of the owner’s property.  We are all stewards of some possessions and influence.  None of us own anything, we all came into this world with nothing and we will leave with nothing!  I believe we will all be judged in how we used the resources that we’ve been allotted.  Examples of stewardship;

1. Economic – Phased retirement – Part time
2. Civic and Community activities
3. Religious activities
4. Family activities

4. Now take an INVENTORY of your financial assets and determine how best to incorporate them within your overall plan. The goal is to use these assets to create an income stream that will allow you to Embrace & Thrive in this New Chapter of Your Life!

Wish 4 Purpose – All your financial assets and income will fall into these categories;

1. 1. W – Work
   2. I – Investments
   3. S – Social Security
   4. H – Home Wealth

Remember you’ve never seen a U Haul behind a hearse!

“Eat, Drink & be Happy in the Fruits of Your Labor for these are Gifts from God”  Eccl 3:13

I want to wish each and everyone of you a Merry Christmas and a Happy New Year!

God Willing, I’ll be able to continue with my stewardship activities into 2025 and beyond!