Statistics show that there are over 500,000 businesses run by Baby boomers in Canada. By 2020 30% will retire, or as I think of it “start their next chapter”. Are you one of them? Are you ready?
The Next Chapter start with YOU!
Many are fearful of this next chapter because they aren’t sure if they are ready, so here are some things to think about to prepare you.
1. Look at retirement as your next journey or chapter — we have been going through life chapter all along, so let’s look at this with excitement rather than dread. Chapter 1 was birth to pre-school. Chapter 2 was grade school years. Chapter 3 was further education or training (or this was skipped for some). Chapter 4 was our work years, and this could be with one or many companies. Chapter 5 is post full time work years, focused on family, travel, hobbies, volunteering, and much more.
2. Be positive and excited — approaching those years with fear and apprehension causes unnecessary stress. The more you plan the more you can build this excitement!
3. Create a Long Term Personal Plan or Dreamboard — break it down into 10, 5, 3, 1 year increments. Each building toward the longer term goals and dreams. Be specific and detailed. Use visuals and words to help reinforce the plan. Research and identify and estimate of dollars required when possible.
4. Review your financial plan — your plan today must be building now to support your future. If you haven’t started yet, then do it NOW! If you are a business owner stay tuned as the next article will talk about how to use your business as part of your plan.
5. Talk to experts — for Financial Planning, Life & Other important Insurance, & Coaching. These people can help you set up the plan and ensure you save the money to support your Next Chapter plan!
Most of all — Start Now! Don’t wait ….. Get excited, you deserve it!
Cheryl Dyck, MBA, ISP, ITCP, IP3P
Certified Business Coach
Business Edge Coaching Inc / ActionCOACH
Coaching Consulting Training
Canada’s #1 Business Coaching Firm
Twitter: @cheryldyck Skype: Cheryl.dyck