It’s Time to Become Your Own CEO
Plus: Costa Rica, Panama, and the first episode of the Further Podcast.
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.
It’s interesting that no one bats an eye when a Fortune 500 CEO is over the age of 70.
Certainly not the shareholders of Berkshire Hathaway, who hope 91-year-old Warren Buffet keeps going indefinitely.
And apparently no one is worried about Frederick Smith, founder and CEO of Federal Express, who’s still going strong at 80.
Apple’s Tim Cook turns 65 this year. Will he be shown the door with a gold watch and best wishes for his retirement? Not likely.
And yet, corporate executives still seem to think that once their employees are in their mid-to-late 50s, they’re no longer the best choice for the job.
So which is it? If decades of accumulated wisdom and experience are assets in the C-suite, why are they not worth keeping throughout the organization?
Turns out, data says they are. But that’s not what management believes, regardless of facts.
Contrary to popular belief, there’s an increase in productivity with age in knowledge-based work. While productivity eventually levels off as you age further, it doesn’t go down.
Productivity is only the beginning. Older workers bring a whole host of other benefits as well:
They are enthusiastic learners and are keen to keep their skills current.
They possess invaluable institutional knowledge accumulated over years of experience.
They often exhibit remarkable dedication and loyalty to their employers.
They bring well-developed interpersonal skills, creating a more cohesive and harmonious work environment.
Plus, research shows that multigenerational teams with a wide age range perform at higher levels compared to teams with a narrow age range. It makes you wonder what else we missed out on thanks to the retirement myth and misguided age discrimination.
But proactive people our age don’t wait for employers to get a clue. They know they’re more capable than ever, and that’s why they take control of their own destinies to become the CEO, even if it’s only a company of one.
As we’ve discussed, more than a quarter of all new business owners are aged 55 to 64. And because we're at the height of our superpowers, we succeed.
Other than a misguided preference for youth, management is also considering how to get rid of older employees with artificial intelligence. A more productive approach would be leveraging AI to enhance the productivity of all employees, especially those with the most experience.
When you’re the owner of your own company, however, you completely flip the script on the “threat” of AI. Instead it becomes a mind-boggling benefit that augments and amplifies you to create a powerhouse tiny firm.
The bottom line is you can’t trust American employers to do the right thing, even when the data shows the “right thing” is more profitable. Add in the threat of recession, and you can’t trust employers, period.
No one is saying to just quit your job. But given the dark clouds quickly forming over the U.S. economy, it’s wise to start planning ahead.
And that’s what Further Premium can help with.
For less than a hundred dollars a year (only $7.92 per month), it’s not going to provide every answer, but it will most definitely get you started in a smart, strategic way. If you decide you need additional help, we’ll be here.
Our introductory pricing for Premium ends this Friday. While the regular price is more than fair, why spend more?
Check out the overview here and join us this week to save.
Keep going-
P.S. Down below you’ll find the first episode of the all-new Further Podcast. By sheer coincidence, we recorded the day after Trump’s newest tariffs — but the damage to the markets from earlier in the year had already expanded the retirement crisis to younger Baby Boomers.
further: destinations
A couple weeks ago, I highlighted the Costa Rican expat havens near San José, including Escazú, Santa Ana, Grecia, and Alajuela. I got a comment on social media from an expat in Costa Rica with this tip: Don’t sleep on San Ramón. Turns out, there’s a lot to like about this lesser-known Central Valley location that’s also popular with expats.
+ San Ramón, Costa Rica: The Central Valley’s Hidden Gem
The two areas of Panama to be embraced early on by a significant number of American expats were Boquete and Bocas del Toro. The two spots offer significant contrasts despite being only a four-hour car drive apart — the former offering the cool climate of the highlands, while the latter provides the prototypical Caribbean experience.
+ Bocas del Toro, Panama: An Archipelago with Crystalline Waters
further: podcast
In this inaugural episode of the Further Podcast, host Brian Clark and financial planning expert Denver Nowicz discuss new financial instability and uncertainty, particularly in light of Trump's tariffs and a recent Business Insider article highlighting the impact of stock market fluctuations on the retirement accounts of younger Baby Boomers (aka Generation Jones).
+ The Retirement Crisis Expands with Stock Market Woes
further: flashback
🎞️ Tariffs? Anyone? Anyone?, Ferris Bueller's Day Off, 1986 🎞️
I usually feature music videos in the Flashback, but this scene from Ferris Bueller's Day Off seems especially on point right now. Apparently more people than just Bueller's zoned-out classmates missed the lesson on the Hawley-Smoot tariffs that plunged the U.S. into the Great Depression. Good times. (YouTube)
further: sharing
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