Victory Lap

Once you achieve Financial Independence, you may choose to leave salaried employment but with decades of vibrant life ahead, it’s too soon to do nothing. The new stage of life between traditional employment and Full Retirement we call Victory Lap, or Victory Lap Retirement (also the title of a new book to be published in August 2016. You can pre-order now at VictoryLapRetirement.com). You may choose to start a business, go back to school or launch an Encore Act or Legacy Career. Perhaps you become a free agent, consultant, freelance writer or to change careers and re-enter the corporate world or government.

What can you buy for 5 bucks? Quite a lot!

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By Jonathan Chevreau

fiverrI recently delivered my debut “Ice Breakers” talk at the local (Port Credit) chapter of Toastmasters, an organization I highly recommend for anyone who wants to polish their public speaking and leadership skills.

I began by pulling out a $5 bill and dropping it at my feet. I asked how many audience members would pick one up if they saw a stray fin on the sidewalk. Most would, but also admitted they probably wouldn’t bother to stoop to pick up a penny or a nickel. I also remarked that when you pull a green $20 bill out of your wallet and consider what it can purchase, your attitude to that bill’s value is probably about what it was to a purple $10 bill some two decades earlier. Inflation, it seems, is forever with us.

If this is inflation, bring it on!

fiverrBut if you ever wanted a concrete demonstration of the value of a lowly blue $5 bill, then go the website fiverr.com. That’s FIVERR, a “fiver” with an extra R. Continue Reading…

5 tips to avoid a costly retirement

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Wes Moss, WessMoss.com

Wes Moss, an American author,  financial planner and radio host, has just published a blog entitled 5 tips to avoid a costly retirement.

Previously on the Hub, we have reviewed his book You Can Retire Sooner Than You Think. We’ve also focused some blogs on his “1,000 buck-a-month rule” for estimating how much you need to retire.

Go to Moss’s current blog linked above and you’ll see that the second half was contributed by me. You may also recognize the Canadian and U.S. editions of Findependence Day there as well.

Below are my working notes for my interaction with Wes. Keep in mind this content was aimed at U.S. readers.  Continue Reading…

Maybe you just THINK you want to retire?

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senior gentleman working on laptop outdoors

By Jonathan Chevreau

My latest MoneySense blog has been posted, titled Maybe you just think you want to retire?

The word “think” needs to be emphasized, since the point is that I’m not so sure baby boomers really want to retire anymore, at least not in their 50s or early 60s. I actually had written this particular blog before reading and reviewing some books about Encore Careers and Second Acts, such as last week’s review of Unretirement.

Of course, this entire website is dedicated to the proposition that there is a difference between traditional “full-stop” retirement and Financial Independence, or “Findependence.” To us, Findependence sets the stage for one’s true calling in life, which is why the six blog sections here at the Hub now include one called Encore Acts. From where I sit, it’s a lot easier to launch an Encore Act once you have a modicum of Financial Independence established.

For the full blog, click the red link above.

For archival purposes and the convenience of one-stop shopping, the piece is also included below: Continue Reading…

The new Weekly Wrap: Brighter Life’s top retirement writers; reflections on Encore Careers

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By Jonathan Chevreau

dNEcyrhc_400x400It’s always nice to be recognized, so the Hub is happy to pass on Friday’s announcement by BrighterLife.ca of some of the Top Retirement writers for 2014.

The list includes me and via my Twitter feed, a nod to the Financial Independence Hub. It also notes my affiliation with MoneySense.ca, for whom I am Editor-at-Large.

Last week, Sun Life Financial also announced its list of top Money writers for 2014, which includes the Globe & Mail’s Rob Carrick, and the Toronto Star’s Ellen Roseman.

I’m not sure what exactly the distinction is between Money and Retirement, but I suppose it’s the kind of fine distinction I myself make between Retirement and Financial Independence.

As I remarked on Twitter, there is a little irony about being categorized as a retirement writer, since this site labours to make a distinction between the traditional concept of Retirement and the evolving one of Financial Independence, or Findependence.

Thus far, however, I don’t believe Sun Life has a category for Top Findependence Writers, and I suppose the Hub should take that on itself. We already do in a way: click on our Best Blogs tab for a list of the Plutus award winners. Continue Reading…

Will “Unretirement” launch your Encore Act?

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BN-ER243_bkrvun_GV_20140923135029By Jonathan Chevreau

Unretirement is a concept not unlike Findependence or Financial Independence; it’s also the title of a recently published book by Chris Farrell, Bloomberg Businessweek columnist and senior economics contributor for American Public Media’s syndicated radio show, Marketplace.

I’ve also seen the term Unretirement used by Sun Life Financial in Canada but that seems to be more a marketing term the company uses to promote its surveys on traditional retirement. That survey has been going for six years now, which certainly predates the publication of Farrell’s Unretirement Continue Reading…