Over 50 and Looking For Something. But What?

Are you over 50 and looking for something but really don’t know what?

Over 50

Peanut Butter & Jelly SandwichMany of us go through life believing we are “on track”. On track for what? All of a sudden we reach 50 and the kids are gone. For many of us, our parents are gone and others are feeling like PB & J. Squished between the demands of our children and our parents if they are still with us.

We reach that time in our lives when the kids are grown enough that they don’t need us the same way any more. For some, our parents have become the needy “kids” in our lives and create demands on our time. Regardless, we “The Sandwich Generation” find ourselves redefining who we are and where we are headed. Somehow I’ll bet that most of us aren’t where we thought we would be at this point in our lives.

  • Pensions may not afford us the financial resources to have true financial freedom to travel at will.
  • The kids’ students loans are crushing them and we aren’t able to help.
  • Our parents need our help physically and in some cases, financially.

Most of us are in various stages at this point in our lives.So much for that dream of independence and being white haired jet setters we had when we were young adults!  Some are lucky enough to have great pensions, the mortgage is paid and parents are the jet setters we want to be. Others have remortgaged their homes, maybe more than once, to help with the kids’ educations, weddings or first home purchases. Still others are working more than one job just to keep roof over their heads.

What are you looking for?

  • A new life partner?
  • New friends with shared interests?
  • Extra income to meet current financial obligations?
  • Building a retirement income?
  • All of the above?

A New Life Partner

love-1643452_640First, let me say, I can’t really offer experienced advice in this area. I am lucky enough to have been married now for over 28 years to a wonderful woman and don’t foresee ever being in this position. All I can say is that if I were looking for a new life partner, I would first need to identify what my passions are and then put myself in situations where I meet others with like interests. The fact that they are out there would in and of itself mean we have commonality.

New friends with shared interests

CoachesI don’t know about you but when I was younger, my parents used to tell me that friends will come and go throughout my life. They were right. When my kids were younger, three out of four were involved in competitive soccer. I ended up managing a rep team, coaching indoor house league teams and generally facilitating their sports activities. As a result of the time required, we made our friends there.

Now, all of our kids are grown and doing very different things. As much as I miss those friends, we no longer have the same commonalities. We still talk once in a while but life has moved on. We now find ourselves looking to meet new people at a similar point in their lives to spend time with.

Extra income to meet current financial obligations

When I started my first full time job, I thought I would be retiring at 65 with a full pension and never expected to do anything different. Surprise! That company laid me off during the 80’s when they were trying to survive. I went to work for a competitor who ended up buying them out. By the mid 90’s, it happened again. I was “downsized”.

Two careers later, disaster struck our family and my business ended drying up. I went back to my roots to at least put some bread on the table. I was surrounded by other men in very similar circumstances, working as much as three part time jobs trying to make one income. I was lucky enough to find a job with a pension but it will be much smaller than originally expected and I will need to find another source to supplement my retirement income.

Building a retirement income

CompensationThere are definitely other options. You just need to open your mind to possibilities.

First thing to decide is if you will retire or re-engage. Some will have to take yet another job in retirement in order to survive and/or have anything for extras like vacation and travel. Whatever happened to that just being an expected outcome of years of working? Others will start a business of some kind.

I would suggest that you keep your mind open to different options. The author of Rich Dad, Poor Dad, Robert Kyosaki advocates that you consider MLM as a way to get seed money for other investments. From there you may decide to open a bricks and mortar operation, invest in stocks or just enjoy the residual income from that business.

All of the above

What if someone is in a situation where it’s all of the above?

Don’t let that scare you. Believe it or not, I have met people in one of our businesses where they were exactly that and they have found a partner, earned a living and built an ongoing and residual income that will not only look after them but will actually let them leave a legacy.

Whatever your situation, I advise working on yourself first. A saying I heard that resonates for me is “become the person you want to attract”. Read good books, watch good videos and put yourself around good people. Did you know that if you read 10-15 pages of a book every day that you would complete at least 10 books a year? Don’t let the job of becoming your best you be intimidating and don’t let the crabs hold you back. Start reading!

Best of luck on this journey we call life and if you think I could help, reach out!

Make it a great day,

Barry

P.S What am I thankful for today? I’m thankful for open minds, great books and great mentors. What are you thankful for today?