Developing True Financial Security in Your 50s (And Beyond)

Plus: The Gold Beyond the Goal

Welcome to this week’s issue of Further, a newsletter for people in their 50s and 60s looking for a more satisfying alternative to the mythical “golden years” retirement.

If you’re here and haven’t yet subscribed, join 19,000+ people looking to live their best life at midlife by grabbing our free resource: The Further Guide to Unretirement Planning.

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Depending on your employer for your sole income in the United States is the opposite of financial security... we've known this our entire working lives.

And thinking an employer has loyalty to you past the age of 50 is so laughable it's like a cruel joke.

We've been talking about developing revenue streams from a business you own and control over the last two months. One that allows you to work from wherever you want, for as long as you want.

And we've also explored international opportunities that come from observing emerging markets up close and in person as an Untourist.

This is an excellent start, but we still need an overall financial strategy that maximizes what we've saved, what we're earning now, and what we'll pull in the future.

Because even though we're not looking to retire at the conventional age, we still want to have plenty for when we slow down. And hopefully have something to pass on to our kids.

The goal is simple... to become financially unbreakable.

This week I'd like you to introduce you to the newest member of the Further team.

Denver Nowicz is the President of Wealth for Life and a location-independent business owner who helps others become financially unbreakable through a strategic framework of Offensive and Defensive assets.

Here's an introduction to a new way to think about investing:

+ What is Financial Security and How Can You Get It?

Keep going-

Brian Clark

P.S. New to Further? Join us here.

Chilling in Costa Rica

When you think of Costa Rica, you may first think of the beaches. But most of the population (including expats) lives in the Central Valley, where the temperate climate and proximity to San José offer the perfect balance of tropical living and modern convenience.

After years of digital nomads, expats, and retirees flocking to Central Valley towns like Atenas, Grecia, Santa Ana, and Escazú, these areas have become victims of their own success. It's now time to look southeast of San José for the ideal combination of cool climate and affordable real estate.

+ Costa Rica's New Hot Spot with a Cool Climate

Understanding the Longevity Economy

More and more people in their 50s and 60s are brushing aside the traditional concept of retirement and starting businesses instead. It's all part of a broader mega trend called the Longevity Economy, and it's being driven by the fact that people are living longer, healthier lives.

When you're figuring out the target market for your own business venture, you may be a part of it already. Older entrepreneurs and business owners can specialize in serving their fellow 50+ consumers. People age fifty and over account for more than half of consumer spending in the United States and 83 percent of household wealth.

Here's a couple of resources to get you started. First is a conversation I had with Avivah Wittenberg-Cox about why I'm focused on my fellow 50+ people. Next is a free guide I wrote to educate you on what's happening with the Longevity Economy and how we got here.

+ Brian Clark: Entrepreneurship in the Longevity Economy

+ Longevity Economy Fundamentals (Free Guide)

The Gold Beyond the Goal

By Trudi Roth

A good friend recently completed a brutal uphill 10K, for which she intensely trained for months in advance. While she was euphoric at the top, the downhill slide was on by the time she left the race.

A week later, she ruefully admitted, “I feel like I’m already out of shape.”

Of course, she could still run circles around me, but the feeling was relatable. As helpful as goals can be (especially theSMART kind), they’re also results-focused. That’s the Catch-22 of goal setting: it gives you focus and motivation, but achieving an objective can leave you feeling aimless and adrift.

So, maybe the fundamental objective is to decide in advance what will keep you motivated after you’ve accomplished what you set out to do.

Way to Goal

Often, we think of goals as a means to an end. But there’s much more underneath the surface, starting with the fact that our brains are wired to seek rewards. Beyond that, we use goals as not just a yardstick of progress but also to mark the passage of time. This alone makes goal achievement bittersweet — so the kicker is the inevitable sadness that can accompany a significant accomplishment.

Pursuing a goal can give you a sense of identity and purpose, so reaching the end can feel a bit like having the rug pulled out from under you, even if you are thrilled with the results.

If you can anticipate a little letdown upfront, you’ll be off to a great start for a strong finish.

Mission Accomplished

The aftermath of an accomplishment doesn’t have to be a downer if you’re intentional throughout, beginning with pausing to acknowledge your achievement. San Francisco gym owner Billy Polson’s coaches talk about their clients’ “celebration love languages,” which range from free and simple, like a celebratory social media post or a few days of downtime, to significant and swanky, like a pricey dinner or beach vacation. The point is to savor the moment and lay it to rest before jumping into the next thing.

That said, sometimes, immediately identifying a new target can help. One impactful way to move forward is to reflect on what lit you up when pursuing the original goal. Was it having a routine? Training with others? As psychologist Dr. Elliot Berkman notes:

If your ambitions are rooted in your values, there’s a greater chance you’ll stay motivated.

And that’s the key to setting objectives in the first place: they can infuse your endeavors with a higher purpose. Then you’re on the road to taking your ambitious goal-driven behavior to the next level by creating smart habits, as Brian once advised.

Developing the habit is what’s key because it’s beneficial whether you achieve the exact outcome or not, and means you’ll maintain the outcome you do achieve.

That, as the kids say, is #Goals.

+ So You Reached Your Goal. Now What? (New York Times gift article)

further: flashback

🎶 The Bangles - Walk Like an Egyptian, Different Light, 1987 🎶

Turns out Walk Like an Egyptian was the most popular song of 1987 in the U.S. Who knew? It was the third single off Different Light, and thanks to this song and the Prince-penned "Manic Monday," the album was propelled to number two on the charts. (YouTube)

further: sharing

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