LifePower

Unique Time Sensitive Personal Coaching Offer

It may seem as if many things are going wrong in the world but never doubt there is meaning among all the madness. There is also meaning to your own existence. Is it time to find out what your's is?

Meaning and Purpose are two key areas I coach my clients on to help them gain the clarity and the momentum to take new action. If you are not clear what your Meaning and Purpose are... you are depleting your energy and more importantly not utilizing your unique gifts to better this world and achieve personal fulfillment.

PERSONAL COACHING VALUE - Can$530... SAVE 45% ... One-Time Offer... North American participants only... good until Noon PST Monday, May 9... First 5 registrations only.

• Four private/individual coaching sessions (1 per week) by telephone/email - client pays telephone charges
• What's getting in your way
• Personal values assessment
• Understanding your personal energy system
• Zero in on your Calling
• 4 weekly coaching sessions to be completed by June 15
• To qualify for this 45% discount email enquiries - to be received by noon PST Monday May 9 - email Nigel@LifePlanningMatters.com . Limited to first 5 registrations.

                                                    

 

 

 

 

Boomer Politician of 2011

Jack Layton, a 61 year old Boomer Politician broke several records in yesterday's May 2, 2011 national election. Leader of the NDP in Canada and now leader of the official opposition in Parliament he showed remarkable resilience during the campaign.

Any campaign is challenge enough for many healthy and younger politicians. In Jack's case he has been treated for cancer and had hip surgery within the last twelve months but nothing stopped him. His energy was evident every day of the campaign as he criss-crossed the country. Nothing appeared to deter his jovial, engaging manner.

Under his leadership in the 2008 national election the NDP secured 18% of the votes and just 37 seats. This time around the NDP secured 30% of the votes and 102 seats.

Putting politics and parties aside, surely Mr. Layton will be feted as the Canadian Boomer Politician of 2011 and as a great example to the other 8 million boomers in Canada. From one boomer to another well done Jack!

 

Expectations and Estate Beneficiaries

Just recently I met with an experienced wills and estates lawyer and asked him to tell me about the most common mistakes people make in planning and processing family estates. His answer... expectations of beneficiaries of what was and what was not.

Now I know expectations of all kinds play an important role in our lives and it comes as no surprise that when our individual expectations are not met we are inclined to be confused, disappointed and perhaps even angry. To avoid these emotions, expectations need to be clearly communicated by others and accepted by the other party. It is the way it is.

Expectations of beneficiaries is also about trust. Unfortunately a family can have many trust issues that have built up over the years and when it comes to the day of settlement these emotional trust issues come to the fore and are difficult for some to keep in perspective. When you mix personal grief, disappointment, trust issues and more in together, it will impact all stakeholders.

My lawyer friend told me that when an estate involving several beneficiaries is being settled by a family executor it is not uncommon for one party to question the monetary amounts involved. If during the will planning process this comes up as a possibility it might be best to appoint a more neutral executor or professional. Yes, this might increase overall expenses of settlement but it may also save time and additional family angst.

Another often mis-construed expectation is how long an estate will normally take to be settled. Different juristrictions have different requirements and may take longer than others. If the executor has to negotiate around other family concerns/questions these will only prolong the process.

I asked... could these not all be avoided by holding family meetings? He explained that different generations have different values. While boomers, for example, might be more open to holding family meetings, older generations may prefer to maintain their privacy, holding their cards close in, so to speak. 

Finally we discussed probate. While he does encourage self-help in many respects he pointed out that probate can be complex particulary in navigating income tax guidelines. While self-help can reduce legal fees, the complexity of tax issues and resulting delays and penalties may well wipe-out any potential professional fee savings and could well increase amounts payable, thereby reducing the net value of the estate. 

Some interesting comments that remind me that things are not always as simple as they appear to be. Remember, you won't be present when your estate is being settled so consider your approach carefully during the planning stages.

 

Falling Retirement Income

Very soon the 2011 national election will be over and the results known to all. In the process I have been listening intently to hear of any real commitments/policies to be made by either of the involved parties towards the "improved well-being" of elder Canadians... and I haven't heard very much.

Research shows that middle-class Canadians are facing a sharper decline in their retirement incomes than experts had previously predicted, and any current pension reform proposals do little to fix the problem. So now we not only have lower-income groups challenged but also those fortunate enough to be in a higher income bracket.

The 2009 Mintz study commissioned by the current federal government remarkably found that the pension system is working well and said "80 per cent of households are saving enough to replace 90% of their working income in retirement." I believe a much larger proportion of Canada's elderly is likely to face a substantial reduction in living standards.

This fact will impact not just one generation but several, services and health care standards as they scramble to maintain levels of care and dignity.

The leading cohort of boomers who turn age 65 this year have a life expectancy of 16 years while the youngest born in 1964 have a life expectancy of 28 years. These are significant. Inadequate funding for these years, whether from the state or personally will cause great difficulty.

Read more.

 

 

Boomers' Biggest Fears

Recently I have been reading excerpts from the book Never Say Die and listening to author Susan Jacoby discuss her contrarian opinions to the popular culture on aging.

Boomers have always defined marketing strategies in every decade they have lived and so far they are doing the same as the leading cohort turns 65. “Living longer better” is one popular tag-line that resonates strongly throughout many marketing empires. You will notice I use a similar one in some of my materials!

It is attached to everything from skin creams, health supplements, financial services, lifestyles and even bathtubs. Buy this and you will live longer, better. Use this and life will be oh so much sweeter.

But will that same tag-line hold up once the boomers turn 80 and 90? For it to do so there are many individual and societal challenges to be overcome. There are two that might change the tint on those rose coloured glasses pretty quickly.

First are the real statistics for dementia. Research shows that boomers are more concerned about dementia than they are cancer. There are now known treatments for cancer and some people are fortunate enough to experience permanent remission enabling them to live quite well thank you.

The same is not true for dementia and if current statistics are not alarming, future statistics are as the boomers enter real old age (80) in 2026.

 Alzheimer’s “Rising Tide” report provides an insight for 2038… more than 2.8% of the population (1.125m) will suffer from dementia. It suggests there will be one new diagnosis every two minutes.

Dementia will cost money, lots of money ($153 billion by 2038) not only for families but also the public purse and it seems all levels of government are too confused and likely too scared to address the coming burden sincerely. Where will the funding be found? Which sacrosanct policies will be sacrificed and at what cost? And imagine… Canadian governments have yet to address or plan for a national strategy.  

Secondly, individuals have not done that greater job saving for retirement. True, some might argue there have not been the incentives to do so. Personally I think the financial services industry has done a great disservice to the general public for a long time in not building the “knowledge banks” of soon to be retired people. Regardless, I sense there are few individuals who have truly calculated their savings needs to ensure they live longer better through and into their 90’s and perhaps even as centenarians. If they have, few have reconciled the need to save more now to meet their targets later.

Much of the marketing media for ageless living is targeted towards those earning what I might term as “higher” incomes. While some of these folks will fare well economically (especially if they are fortunate to inherit money) there is a larger and entirely different group who will live on far less money. Will they be living longer better? I doubt it.

Susan Jacoby makes a good point. Looking at the often unrealistic rosy picture of aging being dished out by many marketing companies in fact impedes boomers from facing the realities of real old age into the 80’s and 90’s. For many these years will not be as rosy especially for women who are too often left holding an emptier pot.

Steps to take now to hedge your otherwise rosy bets?

• Recognise the likely challenge - you are going to live longer
• Engage a financial advisor who believes the same philosophy and has the tools to massage the real outcomes
• Start saving sooner than later – the sacrifices necessary will be smaller
• Assume there will be hiccups along the way
• Factor in the possibility of a personal status change
• Consider you might become a morbidity statistic before a mortality statistic
•  Memo to professional women: Overall research shows women need to become more knowledgeable about the gaps in their future financial security

Hey… planning is not an exact art and spreadsheets often turn out differently than when they are first presented. Yes, we should all live in the present but more of us perhaps need to find a little time to consider a range of possibilites and not just the rosy ones. Running out of money is no joy ride.

Susan's book Never Say Die is worth the read.

 

 

 

In Search of Meaning

What do you find to be the most difficult aspect of career transition?

In my many years of coaching people through transitions, I found that people's greatest challenges varies.

For many, sorting out what they really want to do with their lives (Career Playground) seems to be one of the most difficult. Others struggle with finding a 'taxi job', a source of short term income to pay the bills while they clarify their long term path.

Others know what they want to do but are challenged by how to go about it. They feel torn between traditional employment and an entrepreneurial path.

Employment seems safer even though it may not be. They work hard to find a company that will allow them to be creative and pay them what they are really worth. Creating a business can feel more creative and exciting but scarier.

The recession is fueling many changes in society... some are obvious, some less so. Last night I watched a CBC-TV documentary End of Men http://tinyurl.com/4euvkne .

A great watch in my opinion... good research, provocative and more. The role differences between men and women are diminishing... kind of a cultural/social revolution.

"The David DeLong video makes many great points.

One I found of particular interest is our willingness to reinvent ourselves vs. our inclination to search for what we're most familiar with, most 'comfortable' with, something that fits with who we've been for so long, that fits our past.

The notion David points to requires us to look forward through a different lens, a different perspective. I strongly encourage my network to consider working with a professional coach, a career coach, life coach, or retirement coach to help them challenge their own thinking, to help them open their hearts and minds to what's possible for them. When we've continued to live and operate and work and think of ourselves in certain ways, it's not always easy to reinvent ourselves. A good coach can make a big difference! Most will work with you over the phone - so it's a very convenient engagement." Todd Davisson

Watch the De Long video: http://www.overfiftyandoutofwork.com/experts/david-delong/

The Knowledge

London's cabbies are the best trained in the world. They train themselves in 'The Knowledge'. This means knowing every street and district throughout London and the best routes at different times of day - many square miles. Riding motor scooters they drive around endlessly day and night, sometimes for months, in an effort to pass their exam and receive a cabbie's license.

In 2000, researchers at the University College of London published an intriguing brain imaging study involving these trainees. They sought to discover what happens to the brains of cabbies as they go through this training. What they found out was dramatic and surprising. Researchers found a difference in the size and shape of crucial brain structures in cabbies relative to a control group.

In particular the hippocampus, a brain structure critically involved in memory and navigation, was larger than those who were in the control group.

This was an early look into the brain's incredible ability to change to meet the demands placed on it, and to respond with increased capacity for tasks that exercise it.

Ten years later we now know that given the right exercise the brain reshapes itself - known as neuroplasticity, and its consequences are now only beginning to be appreciated. The emerging science points to the fact that brain training can dramatically change and remodel the brain. This results in people living more effective and productive life. Brain Training Matters!

 

Brain Fitness

Have you seen the new television ad for the Heart and Stroke Foundation? It's very clever, or perhaps I only think it is because it features one of my pastimes... sculling (rowing) with an older crew... with their coach yelling "stroke". While this is happening you see a listing for the signs of a stroke like sudden speech impairment and mental confusion etc..

Strokes happen quickly when the blood supply is cut off to a part of the brain. Just recently I heard about a friend of mine who suffered a stroke several months ago. She recently wrote an email update about her recovery progress to her friends and clients.

What struck me about her email was the fact that she sounds to have totally embraced her condition and more importantly her recovery process. She talked about her passions for life and how more meaningful these have become... how fascinating her journey is and how very much alive she feels.

In some respects you might believe her email was written by a child... "I get all the big words right, it's the small ones I have difficulty with." She ends by saying "with a new appreciation for extreme self-care."

Jane Bolte Taylor is a neuroscientist who has recovered from an extreme brain event. Her recovery took years but the fascinating thing about her story is as a scientist she was able to identify what was happening to her as it happened. Her story and message is a powerful one and can be found on TED.COM .

Like my friend she reminds us that we all should be taking more care of our brains with the right nutrition and by doing (brain) exercises just as we participate in physical exercise. Brain training is a relatively new phenomena and I will be writing more about this aspect in future entries.

Brain training matters... watch here for more news later. In the meantime... wear a helmet to protect your "noggin'".