Do you want to enjoy life more and for longer? I was recently struck by a couple of high-profile examples of super successful people in their 70s and 80s working hard and loving it!
This summer, my wife, two of my teenage kids, and I went to Foxborough, MA for a Rolling Stones concert. The band led by 80-year-old Mick Jagger, opened with the classic Start Me Up and played nearly three hours to a sold-out arena. Last year we attended a Bruce Springsteen show and the energy displayed by Bruce made it hard to believe he is in his mid-70s. We can’t all be rock stars like Mick or Bruce, tirelessly performing into our 70s and 80s, but their high energy level serves as an inspiration for what is possible in our own careers.
Health – the Longest-Term Investment
What the Rolling Stones, Bruce Springsteen, and many other aging performers have in common is that there is still demand for their music both online and in live performances. Why stop live shows if you love it and your fans want more. It takes a lot of stamina to perform for two to three hours without a break and these stars are in tip top shape. They invest in trainers, nutritionists, etc., and those are wise investments toward extending longevity.
For a long time, the conventional wisdom was that genetics were the biggest factor affecting longevity but as data is being collected and analyzed, it is now believed that genetics account for only about 25% of lifespan meaning that about 75% is influenced by lifestyle and environmental factors. Some studies even claim that the choices we make account for more than 90% of our lifespan.
Once our financial planning clients’ finances are in good order, the best advice we can give is to encourage them to invest in themselves and there is always room for improvement even for those already doing so. The improvement can be in nutrition and exercise, but also in mental health as chronic stress and poor mental health can take a serious toll. The health investment can also be in the form of adventure such as traveling or taking on a new activity or hobby. Plenty of social activities can be crucial as those with strong relationships in their lives also see an increase in longevity.
When Making Money Becomes Secondary
Many of our clients love the work they do and have no desire to completely retire or disengage. For these people, it is imperative that they make investments in their health. Eating nutrient rich food and reducing or eliminating sugars and chemical preservatives from foods can add up to ten quality years to one’s life, and adding in an active lifestyle can further increase those quality years.
It is not enough just to show up to the office and punch in and collect a paycheck. The highest achievers and those that get the most satisfaction from their work develop knowledge in something and as they age, they hone those skills. If managed properly they lead to higher income for an employed executive or business profit for an entrepreneur. When challenged, these leaders can solve problems and present solutions utilizing their years of experience and thus earn their pay. It is more the level of engagement in work that leads to improvements in the quality of life than just the work itself.
Planning to Suit Every Career Choice
There is a strong correlation between meaningful work and longevity, and for many, retirement is the beginning of mental and physical decline. Some industries have mandatory retirement ages, and some work is difficult to continue beyond normal retirement age. Especially for those people, planning needs to begin many years and possibly decades prior to retirement age. Meaningful work is personally and socially rewarding. Remaining in the workforce can aid longevity as those working beyond normal retirement age have been found to have lower incidence of dementia, depression, and obesity according to a Boston College study.
Hopefully, your current occupation or business is contributing to your wellbeing beyond just financially. If not, it might serve you well to explore alternatives. With improvement in treatment for all sorts of health ailments being developed, we must be prepared for longer and healthier lifespans, and 50- or 60-year careers may replace the current typical 40-year career.
Personally Committed for the Long Haul
The work I do as a Certified Financial Planner is rewarding, and I love the numerous relations and meaningful engagements I have with clients. Currently in my mid-50s, I am planning an extended career in this field possibly well into my 70s and beyond as many others do. Starting early in my adult life, I have remained active, eat nutritiously, and am consistently looking for ways to improve myself.
While I’ll never reach the kind of audiences of the Rolling Stones or Bruce Springsteen, our firm does manage the finances for hundreds of clients, and our published articles have reached thousands of readers. The important thing is that far into the future I’ll do my best to be a “rock star” at making a positive difference in our clients’ lives.
