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Living “The Life” of 100 Years, (Part 3, Yearning)

Living “The Life” of 100 Years

Part 3 – Yearning Years

They say that hindsight is 20/20 meaning that when we look back in our life, we see much more clearly what we should have done at different points over our life; positive or negative as that may be.  More times than not, I think we tend to focus too much on decisions we made that we believe were incorrect at the time we made them and if we would have chosen a different path our current situation in life would be different.  Much better of course!

As we age and daily face different challenges and opportunities in our lives, the number of decisions we make piles up for each of us.  The negative outcomes of those decisions around doing or not doing something correctly or incorrectly in our past may be seen as regrets; based entirely from our current singular viewpoint at this time.  Regrets or disappointments about our past choices are not something we want to look back on in our life. What regrets do you have so far in your life?  Are you making better decisions today about the many tomorrows you have coming up in your future? Are you using your past to make a better tomorrow for you and for your family?

The simple truth is that today is the day that you create your yesterday.  Tomorrow, you will look back at this very point in time which will be in your past. With this simple passing of time, the quiet rotation of the hour hand on a clock, those things you do today will soon be in your past and you will be looking back at them tomorrow.  Make sure tomorrow, you do not regret what you did or did not do today.   Make sure your today matters!  Deep isn’t it?  It should be, after all, this is “Your” life.

This blog “Yearning Years“ is part 3 of a three part series titled, Living “The Life” of 100 Years.  It follows part 1, “Learning Years” and part 2 “Earning Years” published earlier on www.LifeLongU.com .

The series is intended to show that over the course of our life, hopefully around 100 years or so, most of us live through three different phases.

The first phase is “Learning” and covers about the first 35 years of our life.  Here we learn how to take care of ourselves, our families, strengthen our body, sharpen our mind, ponder our soul and how best to interact with others.  In this phase we learn how to think and learn how to do many different things.

The second phase is “Earning” and covers the middle part of our 100 year life or about age 35 to 65 years or so.  In this phase, our life becomes more focused on earning by applying what we learned in our earlier years.  In this phase the better you apply what you have learned may impact your earning potential greatly.  Obviously, money is not everything, but we should earn to our true God-given potential and use those blessings for His intended purposes. Our learning never really stops in life, whether in school or in our daily lives, applying your knowledge or making educated decisions while taking action are what matters.  Learn from your mistakes.  Positive action is what moves us forward, increasing opportunities for growth of all kinds in our lives.  Amassed and unutilized knowledge can lead to arrogance and waste.

The third phase is “Yearning” and it covers the last portion of our life; those years after we leave the earning phase, typically after 65 years or retirement.  In this phase, if we learned well in our learning phase and applied what we learned during our earning phase, our yearning phase could be filled with many possibilities. The yearning phase is about fulfilling your true life purpose, completing those things you have not done and always wanted to do, about coming to understand that all things come to an end and how will you enjoy your final years.  It’s also about surrounding yourself with family, friends and memories.  Since you tend to have more discretionary time, it’s about giving back to others and sharing your wisdom, wealth and efforts.

This phase can also hold the most fear for us; although we each deal with it differently.  The thoughts of aging, not having adequate funds to do what we always wanted to do, the chance of poor health affecting our inability to do what we always wanted to do and the loneliness because of loss of loved ones, friends and family members all affect this phase. Some of these will most certainly happen to each of us and that is not something we want to dwell on, but is a fact of life.

Make sure that today matters.  Make sure that when your days are piled on top of each other, the combined total of what you did with them supplies you with what you want from life.  Take responsibility for your life.  Make sure that you have a plan for your life, that you use what you have learned and recognize that you may not know it all and may need help in some areas.  Make sure you take action and seek out those that want to help and get their help.  Don’t enter the “Yearning” phase filled with regrets but prepare to enter it with eagerness and truly Living “The Life” of 100 Years.

 

Gary J Kiecker

LifeLongU.com

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Living “The Life” of 100 Years, (Part 2, Earning)

Living “The Life” of 100 Years

Part 2, Earning Years

 

Last week I posted part one “Learning Years” of a three part series called Living “The Life” of 100 Years. This week we continue with “Earning Years”, the next 35 years of our 100 year life.

Have you ever considered living a lifetime of 100 years?  What does it really take to do such a life feat?  What type of planning should be involved?  You may think you will never live that long, but what if you do?  What if the Lord blesses you with long life?  Will you be ready for your golden years, mentally, physically, spiritually, financially?  Have you been using your knowledge to improve your earnings in life so far, or have you simply taken a job to collect a paycheck and allow life to happen to you?

We tend to spend a lot of our time predominately focused on generating income and accumulating wealth since it is the time when most of us are at our peak earning years, from 35 to just around 70.  As we enter the “Earning Years” phase many of us have completed a desired level of schooling, have an education in our intended field of interest along with a fair amount of work experience in an industry we have sought out or ended up in.  In any case, as we move through our 30’s and 40’s, we have a value to offer the job market, and the job market has an amount it will reward us with.  Hopefully, the job market reward is equal to or higher than our own calculated value.

In today’s job market, which has become global, we now have a lot of competition from around our own geographic area as well as around the world.  Jobs that have been around for many years may be gone, may have relocated or the skills needed to do them have dramatically changed and may continue to change.  While we are in our “Earning Years”, we need to continue our learning and educating ourselves with new skills that keep us competitive and make us more desirable in the job market, or risk the value we bring to the job market and therefore risk a decrease in our earnings.  This tends to happen as we age.  The younger individuals entering the job market simply have more modern skills needed by business, while the older generation’s skills, although impressive, become less valuable because the job market now needs the more modern skills learned and offered by a younger generation.  Consequently, as we age, we may find our earning power decrease in value because of new skills required (which we may not have learned or bothered to add to our skills inventory) and also because there will be more unemployed individuals applying for those fewer jobs of old.  It becomes pure supply and demand; fewer jobs with more qualified applicants willing to settle for less value drives down the amount the job market offers for a position, and you end up making less.

Since the “Earning Years” is a bell curve rising in the third and fourth decades of our life, and falling in the sixth and seventh, it is very important to plan during this feast of earnings time.  If you fail to focus on putting away some of your gains during this phase, your “Yearning Years” may be filled with a lot of regret.

Working in your career is only one way to earn.  Can you think of any others?  Individuals that are truly successful in this phase of their life learn to multiply their earning potential by adding additional streams of income.  Some have a second or even a third job, some develop a hobby and learn to make extra income from it, some purchase real estate and learn the fix, flip and rental business, others may simply start a small business and still others may find extra money to invest in someone else’s start-up or ongoing successful enterprise.

One key element to be aware of with developing any of these additional streams of income is your time.  If you work a second or third job, obviously, you need to be there in order to get paid.  There are only so many hours in a day and assuming you need to sleep, your earnings will be limited by the amount of time you can effectively work at adding value.  Likewise with a hobby, you need to do the work, unless you can turn it into a small business; and by small business, I mean create a product or service that makes you more than just an hourly wage.  Your small business needs to create income for you (the owner) without you working in it all day, every day.

If you intend to develop additional streams of income and want to work less and make more you will need to focus on products and services that add value to a customer, and allow profit for you (the owner).   Focus on businesses that have the potential to create wealth for you in multiple ways.

Take real estate rental property for instance…you purchase a property, fix it up and rent it out.  Assume in this simple example you have a positive cash flow situation, a long-term low maintenance renter and a strong housing market. Over time, the rents collected pay off the mortgage on the property; increasing your equity (which is value to you) leaving you with a little extra cash each month (which is value to you) and the property appreciates in market value (which again, is value to you).  With an example like this, market timing and deal structure are very important as well as the amount of time you have to consistently work to maintain this income stream.  This is one example of creating an income stream that can generate wealth in several different ways while you still work your career or job.

A different example can be a small business.  If you start and build a small business, you may find that certain small businesses can provide you with a salary which replaces your current job; it may also supply many benefits and perks that replace existing expenses you may now be paying for out of your current jobs paycheck; if successfully run, it can provide additional profits to you (the owner) besides your normal paycheck; and again if successfully run, it may provide you with more time to do other things during your day besides work;  or you may be able to sell the business, it’s equipment, buildings and other assets at some point for a large cash payout to do with as you choose.  Small business is a good way for many individuals to grow their earnings and wealth doing nothing more than getting up and working everyday…isn’t that what you are doing anyway?

The United States of America is still a land of opportunity.  You can live here, work, receive a competitive wage for the value you provide and live a better than average life (when compared to the world at large).  You can own multiple pieces of property that can over time increase your earnings and wealth.  You can start, own, run and sell a small business that will also increase your earnings and wealth.

But to do this, it takes planning.  It takes some additional resources that you may not be comfortable or knowledgeable in using.  It takes others that have those skills to advise, coach and mentor you.  It takes you to want to maximize your “Earning Years” now, knowing that they will decrease over the years to come.

If you think it may be too late to start a business, consider what can happen over a short span of time:

Twitter is 8 years old, Market Cap Value of over $24 Billion

Facebook is 10 years old, Market Cap Value of over $207 Billion

LinkedIn is 12 years old, Market Cap Value of over $29 Billion

Google is 16 years old, Market Cap Value of over $373 Billion

Sitting down and constructing a life plan at this point in your life will be very helpful to you and your future.  A life plan and the right professional coach will help you learn to earn more in your “Earning Years” phase and provide a more disciplined structure for staying focused as well as persisting through difficult times.

Are you in your “Earning Years” phase?  How much are you earning?  How many income streams do you have coming in?  What is your potential to add more?  Why haven’t you done this already?  Where will you be 10 years from now (don’t forget about Facebook and Twitter, both are under 10 years old)?  Let’s not have any regrets as we age…

Next week we conclude this three part series, Living “The Life” of 100 years with part three, “Yearning Years”.

 

Gary J Kiecker

LifeLongU™

 

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Living “The Life” of 100 Years, (Part 1, Learning)

Living “The Life” of 100 Years

Part 1, Learning Years

 

Have you ever considered living a life time of 100 years?  What does it really take to do such a life feat?  What type of planning should be involved?  You may think you will never live that long, but what if you do?  What if the Lord blesses you with long life?  Will you be ready for your golden years, mentally, physically, spiritually, financially?  Have you been applying the knowledge you learned in life to improve your life so far?

100 years is 36,525 days (365.25 days in a year x 100 yrs). Even in today’s terms, that is a long time.  However in an earlier time, a time discussed in detail in the Bible, individuals lived much longer.  In Genesis 5:27, the Bible says, “Altogether, Methuselah lived a total of 969 years, and then he died”; Methuselah, being one of the oldest long lived men on record, if not the oldest.  Can you just imagine the type of planning that would be needed to live that long in today’s time?

Consider also, that God later in Genesis 6:3 mentions man should live to be approximately 120 years old.  Given that information, along with living a healthy lifestyle, consistently working daily at some God pleasing task and being assisted with the correct balance of pharmaceuticals it is very likely we may live close to being 100 if not longer and we should all plan accordingly.  What is your life long plan for your future?

How foolish is the thought of retiring at the age of 65 when you consider possibly living to the age of 100…much less 969.  It is true that many of us do not make it that long, but what if you do?  An article appearing on the Huffington Post website in November, 2013 at http://www.huffingtonpost.com/2013/11/21/us-life-expectancy-oecd_n_4317367.html  tells today’s story of long life and to what age men and women are living too on average, around the world.  In the USA, women average around 81 years and men around 76 years and increasing year by year.

As I write this article, I have two children that have both completed over ¼ of their 100 year life; they are still in what the life line above shows as the “Learning Years”.  I myself have completed ½ of my 100 year life and am in what the life line above refers to as “Earning Years”.  Both my parents have almost completed ¾’s of their 100 year life and are just entering their “Yearning Years” phase.  Depending to what age we actually will live too, we will move through all phases mentioned above; starting on the far left with learning, then moving right to earning, then still farther right to yearning.

In the “Learning Years” we spend much of our first 30 or so years learning; first from our parents, then from teachers and educational organizations and then on our own.  Our first 10 years of life, our first decade, is spent heavily under our parents constant care. Here our learning starts with very simple life skills and communication and then progresses as fast as our parents and educators will teach us.  In our second decade, from 10 – 20 years, we start our process of moving beyond our parents care and their education and on to others ideas and concepts.  Here we begin to have a glimpse of whom we think we may become.  Our first 20 years of life, although viewed by ourselves as our entire life at that age, is really small and somewhat insignificant when compared to whom we may really be in the world as we age.  We simply may not be aware of this yet and may not fully see our potential for many more years.  By the time we hit our next decade, the 20-30’s, we are young adults and the childishness falls away from “most” of us and the world takes a firm hold of our life.  Many of us are still learning…learning about the opposite sex, serious dating, marriage, owning a home, having children and raising a family, a full time job or career, sharing and balancing our finances and how to handle our many responsibilities;  but still learning.

This learning phase is very important.  An education comes from many areas and not only from schools.  In today’s time, we can literally learn almost anything we would like and have the aptitude for.  The knowledge we learn is important, but applying what we learn is more important and persistence in applying what we learn more important still.  Many of us have failed to learn why we learn in the first place and then how to apply what we did learn.  Failing to apply what we learn, not applying discipline in our lives and not finishing something once we start it will have major impacts as we age and move through the upcoming decades of our 100 year life.  To live a successful life, we simply must have the discipline to apply what we learn and be persistent on obtaining those life goals that matter to us.

Sitting down and constructing a life plan at this point in your life will be very helpful to you and your future.  Continuously working on a life plan from year to year with professionals throughout your life after the age of 25 or so can help you have an even more successful impact.  A life plan and use of professional coaches will help you apply what you learned and provide a more disciplined structure for staying focused as well as persisting when things get difficult.  A disciplined focus and attention to what matters most will help you with your relationships, assist you in building a retirement nest egg and provide balance in all other areas of your life (spiritually, mentally, physically, emotionally), while creating positive memories and joy in your life.

I look at the 100 life line and see where I was 25 years ago (where my children are now – learning) and where I may be 25 years in the future (where my parents are now – yearning) and ponder how best to advise my children, learn from my parents and continue to apply what I have learned so far in my own life.

Are you applying what you have learned to improve your own life?  Are you learning from your parent’s successes and mistakes?  Are you still advising your children on suggested paths they can take, or not take?

Next week we continue this three part series, Living “The Life” of 100 years with part two, “Earning Years”.

 

Gary J Kiecker

LifeLongU™