Younger generations, are you preparing for three or four dependent generations around you?
As longevity becomes a fact of life it is likely that the generations that are coming through now could have dependent parents and dependent grandparents while they are also bringing through their own dependent children. They could also have adult children who are full-time single parents, which could result in having four dependent generations around them, dependent grandparents, parents, children and grandchildren.
A story that comes to mind is about one of my clients. She has a grandmother of 99 years (who has just handed in her driver's license, which may be scary in itself) and a grandfather who lived to 100. Her father is 75 years and she also has two children – 10 and 12. So already, here is the example of three dependent generations around her; maybe dependent financially, emotionally and/or for her time.
As many of you may have read in previous articles of mine, my wife Heather and I watch very little mainstream news or current affairs shows. However, we were recently watching a sporting event when an ad came on for a '60 Minutes' segment on retirement. The following clip will not only reinforce what I have been saying, but it is light-hearted and optimistic, which is very unusual (although welcomed in this case) for mainstream news! So enjoy.
Good to have you back after watching that video. So there you have it! What I have been saying for decades is now there for you on National TV! And the flow on is this challenge of having dependents above and below us who have not created choice for themselves. Rather than 'work until you drop', a decade well designed, closely followed and supported by a personal coach, mentoring from a wise, trusted third party and help from trusted professionals, can give you choices for the future and the future of others.
So let's replace 'retirement' with 'creating choice', which allows us to decide how often and how long we work for.
While most of the working population have ignored the early warning signs of 65 is the wrong number to plan life around, many of my clients have listened to the warning signs and are planning to have enough resources for a long life – preparing for the possibility of supporting many dependent generations around them.
If you would like to discuss your situation with me please Contact Me! I would love to discuss what is possible for your future.