Featured article by Dave Ferguson in CEOWORLD magazine. Reprinted by permission.
Several years ago, a rebranding trend made its way into the financial world. “Retirement Planning” became part of “Wealth Management.”
There are numerous reasons this change was made, one of which was the perceived value it created in marketing. Another interesting reason was because companies began to realize that “retirement” was not always the goal; and that using the term no longer resonated with their more active and engaged clients.
What most people desire, at any given point in their career, is purpose and fulfillment. Managed wealth allows them to be able to do what they most desire to do.
The sad part is that most put off the idea of purpose and fulfillment for when they can “retire.” They treat it as a delayed gratification that is only available after decades of doing work that they do not enjoy or find fulfilling.
What if you could have both a rewarding career and purposeful fulfillment in your work?
The good news is…you can. In fact, there are more resources available now than ever to make this possible.
Let’s say, for example, that you want to retire so you can travel. In previous decades, travel was normally limited to short weekend getaways or two weeks a year. Now, however, there are millions of people leading businesses and traveling on a more frequent or extended basis. Technology and the nature of business has made this possible.
For some, making a difference in the lives of others is a compelling passion, yet they have little time to do volunteer work. As a leader, you have a major opportunity to make a difference, not only after your career when you have more free time, but throughout your entire career.
How?
You can make a difference every single day by serving your team. You provide income to families who need it, and help people grow personally and professionally. In fact, leadership done right is one of the most fulfilling professions of all. It creates legacy.
Consider a certain CFO who managed to create a highly profitable company that served a city for decades. This company provided employment, and also created enough wealth to give back to the community. The CFO traveled the world, negotiating deals with leaders of major corporations; but she also was known to frequent the manufacturing floor. Board members knew and respected her immensely; and employees loved and appreciated her for caring sincerely about their well-being.
As she approached her sixties, she began to consider retirement. But given that she had been with the company for decades, replacing her proved to be a challenge. So, she stayed. One year…three years…ten years more. Finally, she was able to retire.
Not long after, she passed away from cancer.
Now some may consider it a tragedy that she had spent so much of her life working, only to have it end so abruptly in the prime years of retirement.
And it would have been tragic, except that she had fully lived every year she worked. She didn’t wait until retirement to spend time with her family, become an artist, write a book, help others, enjoy nature, or travel the world. She did those things while she worked; and in fact, they were integrated into her life on daily basis.
As an executive coach, I meet leaders every day who are sacrificing other areas of life in order to have a successful career. The impact takes its toll on their health, relationships, and their own personal development. These leaders will someday come to the end of a successful career only to learn that they cannot pack a lifetime of purpose into a few short years of retirement.
While there will always be limitations of time, and no one can do everything at once; there are ways to create an intentional life, where you live your values and find great purpose in your life and work every single day.
Here are ways you can create purpose and find fulfillment across your entire life, not just when you retire.
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Know your values.
This is foundational. If you do not know your values, you will spend a lifetime in search of an undefined vision. Take the time to define your values. It has the potential to change the trajectory of your life.
Have you taken the time to identify and write down your three to five values?
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Intentionally plan each day and week with those values in mind.
My top three values are addressed daily, and I have ways of keeping myself accountable to them. This has created a great sense of fulfillment, which has also carried over into other areas of life. Failing to plan intentionally means you will fall prey to the intentions of others. You will be living their purpose and not your own. Do this long enough, and you will be at the end of your life wondering why you never quite got around to living your purpose.
Do you have a system of intentional planning?
Click here for a complimentary copy of the Playbook for Setting and Achieving Goals.
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Live your values now.
As a coach, I can tell quite quickly if someone is going to reach a goal. If I hear the word, “someday,” it is a pretty good indicator that they will never reach the goal.
But if they say, “I am going to write a book. I will write for one hour each day from (date) to (date),” I know that I am talking with someone who is living with purpose and intention. They know their values, have set goals, and are creating a habit to support those goals. In addition, they have made a commitment for accountability. These are all great indicators of success.
Are you taking action NOW to live your values and create legacy?
In addition to your “Wealth Management Plan,” do you also have a “Legacy Management Plan?” Like any investment plan, you get the best results if you start early, make regular deposits, and manage it carefully.
Dave Ferguson is “The Leaders’ Coach”, an internationally recognized executive leadership coach, speaker, facilitator, and author. Are you interested in talking to Dave about coaching or having Dave speak to inspire and motivate your team? “ASK COACH DAVE” at 704-907-0171 or at Dave@AskCoachDave.com.