Let’s talk life - goodbye 3 stage, hello multi - #14

A conference with a difference…

Hello friends,

The eagle eyed of you will have noticed that I have changed the 1000Weeks logo to a beautiful image from a wonderful artist, Alain du Pontavice. The painting, which I love, is called Fusion. I hope you find it as uplifting as I do.

Now, on with today’s musings.

If you enjoy my words, or find them thought provoking, please do leave me a comment, ❤️like, subscribe or share. Or why not all four, it helps others find 1000Weeks, makes me smile and keeps me writing, thank you.

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I had the pleasure of MCing the Institute for Financial Wellbeing’s annual conference last week¹

Humans, not money

A financial services conference with a difference.  A conference that starts with the human, not the money. 

The attendees - financial planners, financial advisers, financial coaches and academics - there to learn, share and hone the skills and knowledge needed to help their clients be happy, not just wealthy. Skilled and trained in behavioural finance and coaching, they explore their client’s emotions, behaviours and habits. 

Of course, they understand and provide the technical advice and products (tax, investments, pensions, life insurance etc) but they recognise that purely imparting and delivering technical knowledge does not necessarily cause people to take good decisions or actions.  Think the diet and fitness industry.  We may have knowledge about food and exercise but are we fit and healthy?

A woman of a certain age

Being a woman of a certain age, I was particularly taken by Dr Thomas Mather’s (of Aegon, an insurance company) talk.  He spoke about the demise of the 3 Stage Life and the emergence of the Multi Stage Life: 

I wrote about longevity in Life Span, Health Span and Mothballs mooting that the 100 year life is not a phantasy²

Why was I so taken with this concept?  I am living this.  I am trying to work this out, certainly the bit to the right on my sketch!

In my bones I know that getting to a predetermined age and then just walking away from the world of work, and all that has provided (purpose, structure, community, friendships, growth, money), is not good for us humans.  It was exciting to hear an insurance company, which for years I have viewed as product pushing dinosaurs, recognising this fact.

The Multi-Stage life

I predict the multi-stage life will become the norm for many. However, we are not, as yet, mentally or emotionally prepared for a multi stage life.  We have been fed the 3 stage version for decades. I believe many think it is some kind of unwritten life rule “thou shalt retire at age 65”…  

So why does the financial services profession, the workplace, the media and society remain focused on the 3 Stage Life as the ‘norm’?

Why are so few people talking about planning for a multi-stage life?

Where are the role models for this multi stage life? Where are the financial planners having these conversations?³ Where are the other ‘helpers’ guiding people into the next stage of life?  Where is the media coverage extolling the what, why and how of this life?

Could it be that most of the financial services industry are not open, qualified or incentivised to have these conversations?

The challenge of modern retirement

A modern retirement is challenging.  We are balancing our innate Money Blocks and Mindset Blocks.  Just imagine if the conversation you had with your financial planner included:

• Structuring your ideal day, week or year

• What you might be retiring ‘to’, not from.

• Spending more time and money on the things that bring you joy

• Working for longer in a nurturing way

• Giving more – money, time and wisdom

What if employers offered more encouragement and flexibility to older workers, recognising the wisdom and experience they can bring to others.  I love Chip Conley’s work and writing of his time with AirBNB where he became known as the ‘Modern Elder’⁴

To be clear, I appreciate I’m writing this article from a privileged position assuming a certain level of wealth and health.  But for many this is true.  You do not have to conform to societies expectations of mid and later life.  This is your life, design it how you want.

Tell me…

So regardless of your age right now, tell me, what does your ideal day and week look like?  What’s in, what’s out? Who’s in, who’s out? Where are you? What are you doing? Who do you need to talk to to make this vision a reality?

Do drop me a line, I’d love to hear from you.

And remember, you are never going to be any younger than you are today, what are you waiting for?

Until next week,

Ruth x

1. I was until recently the Chair of the Institute for Financial Wellbeing

2. There’s an excellent book called The 100 Year Life by Linda Grafton and Andrew J Scott, well worth a read

3. OK, they do exist, just not many of them. If you want to know who does, DM me.

4. Check out Chip Conley and the organisation he founded the Modern Elder Academy