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The "Great Resignation" or "The Great Revelation"

Updated: Nov 17, 2022

Barely a day goes by where the news, especially the financial news isn't mentioning something about the declining workforce. Most pundits and data analysts, point to those seeking higher wages, a better quality of work, certainly better life/ work balance and the top of the list, hybrid work that includes the ability to work remotely all or part of the time. It's not that I disagree with any of the points being made. Actually, there are some points made that I agree with fully.


The correlation missing is the impact on all of the above for those of us, at or near retirement. There are 70 million "Baby Boomers", those who range in age from 58 to 76. I know many in this age group. For them, the pandemic was a revelation. A revelation that inspired them to assess what they really want to do, how they want to do it and most importantly, when they want to start doing it.


During this time, many questions and realizations arose that led to self reflection on what was really important. Questions like:

  • "How much money do I really need?". One friend stated it best; "Someone always has a bigger boat and I'm good!"

  • Do I really want to spend up to 2 hours daily in traffic or a commute?.

Working from home seemed to crystalize the value of time at home and with family as opposed to the drudgery of commuting.

  • Another close friend recently stated as he was headed to his grandson's baseball playoff game, "I've missed a lot of my own kids games while at work. No more!"

  • I’ve always wanted to see Africa and want to do so when I have the health and freedom to do so as I want.

There are a ton more examples and stories like this and they come from every type of worker, man or woman, and place in the country.


Baby Boomers are a unique bunch. Many of us were raised by “The Greatest Generation”. We possess their incredible and relentless work ethic, that derived from The Depression. We were also the ones who created the counterculture of the 60’s and 70’s. We thirst for adventure, question the norms and in our hearts believe anything is possible. It's this thirst that is the fuel for fulfilling the time we have worked so hard for over the last 40 years.


On a sobering note, the average life expectancy of a man in the US is still just 76! For women it's closer to 79. I was astounded by these stats believing that the combination of healthier lifestyles and innovations in healthcare would have enabled far longer life expectancy.


The pandemic served as a wake up call for many on quality of life, the valuable asset of time, people we love and adventures that await.


The Revelation; "It’s time to do what you want to do!"


At Sunday Without Monday, you’ll be hearing from our contributors that the time to travel, explore, challenge yourself, spend more time with who you love and "do want you want to do", is now. Think of us as a close friend, who is there to support you, show you the way and inspire you to new challenges and adventures.


Certainly, having the financial means to live and do what you want is important and can’t be ignored. We’ll also share some insights and personal learnings on financially related items that can better enable you to fully take advantage of all that is ahead.


Cheers,

Mike


“Time to do what you want to do!”


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