Capitalizing on Longevity
Scott Couchenour
I help leaders transition without regrets ?? 4th Quarter Coach, experienced COO/CEO, strategist, keynote speaker, author, coffee connoisseur
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Investment Strategies for the Modern Retiree
According to this article in the Wall Street Journal, Larry Fink, the CEO of BlackRock, which is the largest money manager globally with $10 trillion in assets, highlights a rapidly growing retirement crisis.
He points out the tension between the advances in healthcare that prolong life and the lack of financial preparation for these extended years.
In his annual shareholder letter, Fink touches on several solutions for
He identifies secure retirements and the development of infrastructure for digitization and energy as the major economic challenges of the mid-21st century. According to Fink, capital markets are essential in tackling these issues.
For a business owner and/or founder over age 45, Fink's insights underscore the importance of engaging with capital markets for a secure retirement. They highlight a broader economic and societal challenge that demands attention from policymakers, financial institutions, and from individuals and businesses alike. This will help ensure a balanced approach to extending lifespans and financial planning for these additional years.
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You're a business owner preparing for your own end game. What can you do?
Here are a few ideas worth considering:
1. Diversify Your Retirement Investments: Explore a broader range of investment options within capital markets to diversify your retirement portfolio. This might include stocks, bonds, mutual funds, and real estate investments. Diversification can help manage risk and ensure a more stable financial foundation for your fourth quarter of life. Consider seeking advice from a financial advisor to tailor your investment strategy to your personal financial goals and risk tolerance.
2. Invest in Health and Wellness: With medical advancements extending life expectancy, investing in your health and wellness becomes crucial for enjoying a longer fourth quarter. This investment can include regular health check-ups, fitness memberships, or even wellness programs that focus on mental health and stress management. A proactive approach to health can significantly reduce healthcare costs in later years and improve quality of life.
3. Engage in Lifelong Learning and Skill Development: The landscape of business and investment is constantly evolving. Staying informed about new trends, such as digital transformation, sustainability practices, and emerging markets, can provide valuable insights for both your business and personal investment decisions. Consider enrolling in courses, attending workshops, or joining relevant forums and networks to keep your knowledge and skills up to date. This continuous learning mindset will enhance your professional value and enrich your personal growth, keeping you adaptable and resilient in the face of change.
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