I am actively involved in community on a daily basis. There is a great sense of community and positive action happening in pockets on the ground. This helps me to stay focused on the role I can personally play in a positive way rather than just listening to the media and having negative, downward spiraling conversations around the dinner table and around the braai. I also attended a call by the Gauteng MEC of Education to attend a meeting for retired teachers. I was overwhelmed as I walked into the hall. There must have been more than 2000 teachers at the meeting. I hope this will be the start of many programs where we can all take hands as ONE Nation and build a future for your grandchildren and mine.

I attended a briefing to the media by Old Mutual on a survey they had done called “Retirement Monitor 2010.” I am including an overview by the managing director in this newsletter. The challenging economic cycle we have experienced since 2008 is having a serious affect on funds for retirement. Working longer is becoming more of a compulsory obligation rather than a choice for many baby boomers. The workshop I present called “Moving from work 1.0 to 2.0 “will ensure that you know what the future world of work looks like and that you will be able to earn well into your refirement years. The challenge is to find a balance and work within your area of passion. I have also just written an article for The Star Workplace on how this world of work is changing. Read in this newsletter.

I am teaming up with my friend Tina James on the 29 th May in Pretoria. Tina runs a group called Dancing Divas. Dance classes for women. We will be doing an event together called “Fifty and Fabulous- Discover your rhythm “ This event will be in Pretoria. Book the date in your diary and bring your female friends for an afternoon of fellowship and fun.

Thank you for your ongoing support. Refirement Network is growing. Invite your friends, join hands and let’s build this nation together.

 

 

Every day I get up to work. Sometimes I work for money and sometimes I work for free. At times the work I do for free adds more value to my life than the work I do for money. The worldview is that work = money. Do you agree? In South Africa we do not have a volunteering mindset. Maybe it is part of our history? The question is how do we change this? The world of work is changing. We now have more of a portfolio approach where work for money will be one of the components of the whole. Work for many is already not the 8 to 5 world that many of us grew up with. Technology allows work to happen anywhere and anytime 24/7/365. We can work in an office, face to face, at home, locally and globally day or night. If all of the above are facts that already exist, maybe the question we should be asking is what defines my life and how do I add value.

 

Old Mutual Retirement Funds Survey 2010 Lack of preservation remains a major concern While 93% of all stakeholders surveyed in the Old Mutual Retirement Survey 2010 agree that preserving retirement savings is important when exiting their existing pension or provident funds, the majority of South Africans are not doing so. According to Seelan Gobalsamy, Managing Director of Old Mutual Corporate, the vast majority of employees who exited pension or provident funds administered by Old Mutual last year, cashed in their accumulated retirement benefits, rather than transferring them to another retirement savings vehicle. When asked which key factors influenced the likelihood of not preserving, 70% of the funds representatives surveyed cited a desire to access cash as the main reason. This is not surprising, given the difficult economic conditions and job losses during the 2009. It is estimated that 900 000 jobs were lost in South Africa last year. Gobalsamy says it is therefore surprising that 71% of fund respondents believe preservation behavior remained fairly consistent with previous years . The exception was among Union Fund respondents, where 43% of the respondents said preservation amongst their members had decreased . Another trend that had emerged was that members are resigning in order to access their retirement credits and then re-applying for their jobs. The survey also provided some key insights into some of the key influencers and influencing factors behind members’ decision to preserve their benefits on exiting their retirement fund. Lack of advice at the time of withdrawal (53%), lack of understanding of consequences of the decision (62%) and a lack of awareness of preservation options (39%) were among the motivating factors mentioned for not preserving. 24% of respondents cited investment advisors as primary influencers on the likelihood of members to preserve their benefits, while 15% said recommendations from the Human Resources (HR) department was the primary influencer. 11% cited members’ own knowledge as the key factor. Company and Umbrella fund respondents believe that investment advisors are more influential than recommendations by HR, while Union fund respondents saw HR as having a bigger influence in the decision by their members. Gobalsamy says it is also the responsibility of retirement fund  trustees to provide members with pre-retirement counselling or financial advice to encourage them to keep their retirement fund savings invested for as long as possible and not cash them in when exiting their jobs prior to retirement age.   He adds that Government is taking the issue extremely seriously, with some level of compulsory preservation likely to be included as part of the proposed retirement fund reforms. “In this regard, 36% of all funds surveyed said they were strongly in favour of compulsory preservation and another 48% of all funds surveyed said that they were strongly in favour, but with the choice of a service provider.”

 

 

Are you over 50 and challenged by the changing pace of the workplace? I want to share a story with you. It's about a fly that is stuck in a room with closed windows. The fly, in an effort to escape, keeps flying smack into the middle of the window, then falls down to the window sill. It gets up again and again, repeating the entire process over and over. It keeps seeing its freedom through the glass and tries desperately to get there, for hours and hours. Eventually, the fly runs out of energy and dies. That's a sad day for that fly. If it only knew how close to freedom it was. One meter away from the closed window is a door that is wide open to the outside. Have you ever felt like this in your business or in your life? You work harder and harder every year, but don't make much financial headway. There's a well known quote that states "the definition of insanity is doing the same thing over and over again but expecting different results." Well, the moral of the story is: Try another way - you are only one meter from freedom! I am sure there are many that feel like this fly when they look at their work life. The work place may seem like a harsh place where you feel like you have been hitting the closed window for a period of time. The worker over fifty has been in the workplace for more than 30 years. This environment has changed at exponential pace and seems to becoming a place where we no longer feel comfortable. We long on the one hand for retirement because we do not enjoy the pace and challenges that the workplace present, but at the same time we fear the future because we know we will need more money than we have saved to fund our golden years. Here is a list of some of the changes that are occurring on a daily basis to change this environment. WORLD OF WORK OLD PARADIGM NEW PARADIGM Loyalty and Security Personal responsibility Input driven Output driven Set hours 24/7/365 Defined benefits Defined contributions Permanent Contract by contract Office based Virtual Local Global These changes listed will help us to see why we may be feeling insecure and fearful. It may also be why we feel like the fly that keeps hitting the closed window. How wonderful it will be to discover the open door and feel free and alive again. Discovering this journey and flying out of the door is possible. A person needs to understand these changes, embrace them rather than fight them and discover a new future. Discover your talents and skills. Learn more about technology and how this is changing the world of work. Embrace the fact that when you chose a new work space it can be a combination of work and play. When we work in a field where we are passionate about the subject and work seems more like play, we know we have discovered a freedom to continue this journey for many years to come. There is no reason to stop working and to retire in this world. In many cases one can travel, live outside of a city and still add value. Embrace these changes. They will add enormous value to your future world of possibility. Lynda Smith is a Retirement Transition Coach. She offers workshops called “Moving from WORK 1.0 to 2.0 and navigating your journey”

Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com

Refirement Network. Coaching. Lynda has a passionate love of people and the development of future leaders. She is a master networker, innovator and big picture thinker. Lynda has spent 32 years in business and has a diverse set of skills that include strategy, leadership, marketing, sales, coaching, counseling, facilitation, writing, public speaking and networking. Lynda is the only accredited coach in South Africa for Retirement Options USA. Lynda started Refirement Network in 2005. She has studied both local and international trends around the Baby Boomer generation (born 1946-1964) and has a broad knowledge and understanding of this subject. This makes her an ideal person to assist with discussion around navigating your own journey. The following services are available: Profiles 1. The Retirement Success Profile (RSP) is a scientifically designed assessment tool that identifies personal retirement strengths and concerns for people planning their retirement. 2. The Life Options Program provides a personal, practical, and relevant self-portrait of the overall lifestyle needs of persons who are contemplating a transition from their current full time work into some other lifestyle that they are in the process of designing. Price: R750.00 per profile or R1400.00 for both. The profile is done online and takes about 30 minutes to complete. On completion of the online profile you will receive a detailed report and a copy of an EBook called The New Retirement. Coaching Face to Face : Single Session R1000, Three Sessions R2500, Five Sessions R3750. These are subject to location. Lynda is based close to Gauteng and final contracted amount will depend on discussion and agreed amount. Each session will be one hour. Online : I use skype for these sessions. Each session is half an hour. This is a great tool to chat about any area of Refirement in your life or company. Single session: R250, Three Sessions: R600, Five Sessions: R900. All prices exclude vat and need to be paid in full to receive contracted price. All calls are booked in advance here: https://my.timedriver.com/55XJH. Why not try a FREE 15 minute session to ensure that your investment in your life is on the right track? https://my.timedriver.com/CKP3C

 

Refirement Network. Talks. Lynda Smith has a passionate love of people and the development of future leaders. She is a master networker, innovator and big picture thinker. Lynda has spent 32 years in business and has a diverse set of skills that include strategy, leadership, marketing, sales, coaching, counseling, facilitation, writing, public speaking and networking. Below are lists of topics that may interest you. Discussion around the process/format can be discussed to accommodate your needs. 1. The Next Chapter Developing a plan for your life beyond 45+ and helping to plot the journey to Refirement. 2. Moving from Work 1.0 to 2.0 and navigating your journey Discovering why the world of work has changed and helping to develop a talent profile. 3. Don't RETIRE- REFIRE An overview of why Retirement is an outdated concept for the 21st century. 4. The chickens have left the nest The children have left home, so now what? Building a life beyond parenting 5. The 21st century world for single women over 50 Helping women to be savvy, strong and connected. 6. Baby Boomer marketing strategy Helping companies to recognize and market the right message to Boomers. 7. Capacity Building for South Africa Finding solutions to build our nation, using skills, wisdom and innovation. 8. Baby Boomer Grandparents Building legacy through stories, play and time A discussion or meeting with Lynda will help you plan your perfect event

Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com

The world is fast changing and in conversations, I sense many have a discomfort with the pace of change. This should be a time of life where we celebrate the years of work and look forward to a future filled with hope and clear direction. The future is not clear. This will be one of the constants in the future. We need to learn to live the ride of adventure and manage the challenges we face.

This month’s newsletter has a parable about change. These types of stories are written, tongue in cheek, but have many moments of truth. As you read, watch for your areas of irritation. That may just be a place where you personally need to address a “bend” in the road. The workshops will also help unlock some of these challenges. The dates are listed here: http://www.refirementnetwork.com/events

We start a new series this month where we interview a Baby Boomer who has REFIRED. These stories should inspire and guide you along your own journey. Soccer is the topic of conversation at the moment and I thought it would be appropriate to start with a REFIRED Boomer who has focused on this as his passion and area of impact.

There are two events that may be of interest to you. Peter Block will be doing two day Community workshops around South Africa in March. If you want to understand more about this kind of work or already involved in community, please see this link for more details: http://www.symphonia.net/symphonia_for_south_africa_community_leaders.htm. If you are an entrepreneur, you may be interested in attending Show case your business. Contact me on lgsmith@mweb.co.za or 082 490 2822 for more details.

I have had a number of companies call me specifically looking for Baby Boomers with a certain set of skills. I will list them here. Should you be interested in a specific one, please contact me and we can continue to try and fill the positions. I list these immediately on the Refirement Social network and Facebook Fan page so it is good to also join these two sites to stay connected with this kind of request.

• Accountant for business in Johannesburg
• PA/Marketing position for a licensing business in Randburg
• Occupational Health Nurses (fulltime) with accommodation in Postmasburg. Anglo is building a new mine is this area so there may be more to follow.
• Two month contract for a Radiographer in Postmasburg. URGENT

I hope to see you at one of the Refirement café’s or workshops. Stay in touch.

Kind Regards.
Lynda Smith

 

Real Life South African examples of Refirement Case study of John Perlman http://www.dreamfieldsproject.org/ As you approach your retirement years and think of the kinds of changes you would like to make in your new season of life, it helps to know there are others who have gone before you and succeeded. It helps to know there are others who are enjoying a second career, contributing to society and living a fulfilled life after 60. That there are those in your generation that have not faded quietly into the background to live out their 30+ retirement years relaxing, but rather have decided to make some changes and launch a second career in an area that they feel passionate about. It’s about finding out what you always wanted to do and pursuing this goal in a way that suits the lifestyle you aspire to in your middle-age years... Read more...

 

 

The parable of the dinosaur and chameleon By Lynda Smith In the late 1940’s and 50’s after the Second World War a whole bunch of babies were born. These babies formed part of a large species called “baby boomers”. They caused a lot of upheaval in the world. Their parents were happy and excited about life after the war. Business was booming and the Americans even put a man on the moon. These children were growing up with a positive attitude and even believed that they could change the world. Schools and universities were built to accommodate this growing group. Radio was the main medium as they grew up. They would lie in bed at night and listen to programs like “squad cars” Television became part of life for some of these children but computers were not part of their vocabulary... Read more...

 

Workshop. Moving from Work 1.0 to 2.0 and understanding how to navigate my journey. I have sensed through many conversations that one of the greatest areas of need is in understanding the concept of work in the 21st century. This workshop will help any person over 45 understand the complex challenges of the 21st century workplace, what options are available and how to navigate the road to planning a new career beyond your current one. It will also be useful for those who have been retrenched or for someone employed who would like to work in a different career when they retire from their current workplace Dates and venues Pretoria Friday 26th February, Irene area Monday 1st March, Bryanston area Time: 9:00 - 12:00 Cost: R300 per person Contact: lgsmith@mweb.co.za or 082 490 2822

Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com

Refirement Network - January 2010 Newsletter

Refirement Social Network This is a new social network that I have set up for Refirement Network. Please join and invite all other Baby Boomers. Click to join Facebook Fan page Visit us on the web...	We are living in fast changing times. The changes are challenging and exciting and many live in fear. I hope that as this important year begins that not only will it be a defining year for South Africa but that you will embrace this year as one of great significance in your personal journey. I like to re-read some of the important books that have had an impact on my life. I am busy reading SYNCHRONICITY – The inner path of leadership by Joseph Jaworski. An outstanding book for any person wanting to navigate and understand the challenges of personal growth. This world is changing fast and many of the old paradigms are being challenged. The world of work and retirement are two of the major trends that I watch.
Baby Boomers are now in their late 40’s to early 60’s. We have been given a gift of an extra 10 to 15 years of life compared to previous generations that are in this stage of life. It is one thing to understand and embrace this, but at the same time the question needs to be asked. What will I do with this gift? Many will want to or need to continue to work. Economics is an important question for most of us as we reach what should be the end of our earning years. The paradigm shift is that one does not need to stop earning or working if you do not want to. The challenge is what do I want to do, who am I and how can I stay full of vitality and energy and enjoy what I do? If you are keen to learn more about this we have launched a new workshop called “Moving from work 1.0 to work 2.0 – understanding the changing world of work and how I can find my perfect fit of work and play. Click here for more details of the dates and costs of the workshops. We have written a new article on this changing world of work. This article in this newsletter will help bring context to the changing trend. Please share this newsletter and article with any person who may be thinking about their retirement, has been retrenched or is unemployed. It will help all these groups as well as women who are planning a new start now that the children have left home. Under the events section there are also some Refirement Conversation dates for those members who live in Gauteng. Please let me know if you would like to attend either of the sessions. They are free but I will need to organize catering so would appreciate an email if you will be attending. (lgsmith@mweb.co.za) Here is a quote from Synchronicity “All of us, whether or not we are warriors, have a cubic centimeter of chance that pops out in front of our eyes from time to time. The difference between an average man and a warrior is that the warrior is aware of this, and one of his tasks is to be alert, deliberately waiting so that when his cubic centimeter pops out he has the necessary speed, the prowess to pick it up.” Carlos Castaneda To be aware and alert takes time. Take time to find out who you are this year. This could be the best decision you ever make. Discovering the World of Work 2.0 New ways to work beyond your first career The world has changed dramatically in the last 20-30 years since the time our parents started retiring, and is totally different from the world that existed in the late 1940s and early 1950s when the concept of retirement was first widely implemented. As people are living longer healthier lives the thought of 3 decades of leisure during retirement is not that appealing, especially to the active, progressive Baby Boomer generation facing retirement in the next 5-10 years. Baby Boomers Baby Boomers are a generation like no other that have pioneered new things their whole lives, including growing up in the suburbs, working women, sexual freedom, unmatched prosperity, and are now the first group of adults to enjoy a long healthy, active, non-child bearing season of adult life. Boomers are the group born between 1946 and 1964 who lived their teen years in the 1960s and 70s. Their teen years were full of causes and revolution, witnessing the assassinations of leaders, widespread protests and the development of the civil rights movement. Seeing these events and how the world was not working helped to shape this group into the world changers they are today. Boomers have a deep desire to make a difference in the world. They also tend to be competitive and ambitious. Boomers have worked hard with passion and commitment during their careers, but are now stopping to inquire about the lasting value of the outcomes they have achieved. Boomers have acquired both prosperity and position as signs of their success. By in large Boomers have not had the discretionary time they would have liked as they have worked so hard for their success and now feel they want time to make a difference to the broader world. Many are looking for meaningful ways to make a contribution in the years ahead and leave a legacy. How the world has changed Modern medicine has extended people’s life spans dramatically. While HIV and Aids are wreaking havoc with South Africa’s age expectancies, people living without the disease can expect to live longer than their parent’s generation. The world has also become ‘flatter’ meaning that the playing field has been levelled as individuals now have more access to opportunities through technological advances such as the personal computer, fibre-optic cabling, and the rise of Windows powered PCs has enabled individuals to create and share content with anyone in the world. Technology has also totally transformed the world of work with work-flow software, supply-chain management, outsourcing and sharing of information enabling broader collaboration on projects. The fall of the Berlin Wall, the end of the Cold War, the release of Nelson Mandela and the riots at Tiananmen Square in China all occurring within 8-months of 1989 have also resulted in a political change in the world where power has shifted from governments and companies to individuals who now have the power to organise themselves and oppose systems and regimes that don’t abide by accepted norms. Midlife The Boomer generation has approached midlife after 30 years of hard work at their careers. They are taking a look around and questioning their lives and their meaning. As their engagement with corporate work declines over the next few years, Boomers will need to decide what to do next. But the good news is that this new season could be a time of liberation and exploration, finding out what you have always wanted to do and having the time, energy and resources to do it. No other group in history has ever had a non-childrearing period in their adult lives where they are free to pursue their dreams, and healthy and wealthy enough to do so. This is a time to explore and discover the meaningful and productive roles and activities that you would like to pursue in the 20-30 mid-life years ahead of you before resting in your old age – and the options are as diverse as you are. There are 4 main factors that will impact on your life choices going forward: 1. Prolonged economic activity . Unlike your parents who retired at 65 to rest and relax, you will live a long and healthy life for more than 3 decades still. In addition, critical skills shortages in the work place will mean that you will be useful in the business, NGO and government sectors for many years to come. The skills and knowledge that you have will be essential to the continued success of major economies around the world. Due to declining birth rates in the developed world over a number of years, there are not enough people to replace the ageing population in these economies causing sever labour shortages. In addition, the lack of specific skills for certain sectors will mean that key skills sets will be in critically short supply. Essentially, the skills and knowledge that Boomers have will be essential to narrowing the gap between the number of people available to work and the demand for workers, and will provide the demand for your skills in years to come. In addition, research shows that company productivity and customer satisfaction actually goes up as the share of older workers in a company increases. Employers have reported over-55 workers to be harder workers, and more loyal and reliable than their younger counterparts. 2. Flexibility in the way work is done . Advances in technology are totally transforming the way work is done and allowing people to choose what works for them. Boomers will be able to use technology to their advantage by working flexi-time, from home or job-sharing for example. Technology gives us options and Boomers want options in their second half of life. New trends in collaboration, co-creation and customisation are already affecting how work is done in corporate environments. In addition, certain technologies are making it possible that you don’t need to leave your home to go to work – but only to connect to the world virtually from your personal computer. You don’t even need to work in the day-light hours anymore as new devices enable time-shifting and work to be completed at any time convenient to the worker, from anywhere in the world. You will need to not just become familiar with all these technologies, but understand how they can work for you to enhance your second work-life. 3. Boomers are the first generation in history to have this long period of non-childrearing, healthy, productive adult life with endless possibilities for productivity and impact. In the US, people born at the turn of the twentieth century lived an average of 47 years, those born in 2003 can look forward to nearly 78 years of live, and this trend of extended life expectancy is found in many developed countries around the world. By 2030, the average life expectancy in most industrial nations could be 100 or more. 4. Positive Boomer-child relationships . Boomers have developed very strong relationships with their children with many shared interests and pursuits. As a result many Boomer parents will choose to live in close proximity to their children in order to share in their life experiences and this will have great bearing on where Boomers choose to live out their mid-life years. Each person will need to decide for themselves whether or not they want to continue working in some form after their official retirement age. One key thing to note is that research has shown that those who continue to live active working lives after retirement age stay healthier for longer. Working longer in life will also positively affect you financially as you are able to delay the time at which you need to depend on your pension and retirement benefits – enabling them to last longer down the line. What are the options? Before deciding which option is best for you, you will need to decide: Whether you want to use your existing skills or try something totally new in the second half of your life? Do you want to pursue a long-held dream or passion, or fill an immediate need? Do you want to stay close to your home and family or travel the world? How much time and involvement do you want in your family’s life? And of course, how much money do you need? The answers to these questions will help you decide what is important to you in this next stage of life and armed with these guidelines you will better be able to sort through the options available to you for this next season. You will also need to consider: The amount of time you would like to devote to work in this next season. There will probably be a number of activities that make up your life and time over the next years, including work, learning, volunteer work, family, and leisure time. You will need to decide how much time you want to allocate to work at this time. The structure and variety of your ideal work arrangement including whether you prefer working in a highly predictable arrangement, or variable episodic bursts. For example, would you like to work a structured 3 mornings a week, or work full-time for 3 months and then be off for 3 months? Your economic reality and the role that finances needs to play in your life, bearing in mind that the longer you are able to engage in some form of paid work life the later you will need to tap into your retirement savings and the less you will need to have saved up for that last stage of life. The degree of challenge and difficulty you are willing to take on in your career in your next season of life. Your decision to take on difficult and challenging tasks will probably need to have an accompanied commitment to learning new skills in the years ahead. The level of responsibility you are willing to take on in this season of life. Once armed with the answers to these questions, you will be in a better position to decide which work option is best for you going forward. The options are as unique as you are and can each be tailored to suit your needs and desires for work 2.0. Here are some of the options for working past your retirement years. Continue working in your field of experience for extended period of time, possibly negotiating more preferable terms of employment such as flexi-time, part-time, contract options. Branch out into a whole new field that you have always wanted to pursue, which might require additional studying or learning in order to qualify for these new positions. Boldly start your own business doing what you have always wanted to do, which could be risky, but very rewarding. Leave the corporate world to use your skills to add value to a non-profit or non-governmental organisation working for a cause that is close to your heart. Volunteering and giving of your time, skills and experience freely in order to make a difference and leave a legacy be it in volunteering, coaching, mentoring etc. How companies need to be involved Over the next 5-10 years relationships between employers and employees will change dramatically as more and more companies transform in order to allow new options of engaging in the world of work to become more common place. Even if it does not seem as though your requests for flexible work conditions will be accommodated today, you need to think creatively about new ways to work and to start negotiating their value with your employer. The Y-generation (born from 1980) will be leading the way in demanding workplace flexibility unlike any generation before. But there is a huge wave of workers discontent with the current workplace situation that are seeking work relationships with companies which allow them the freedom to pursue other activities outside of work. A recent survey of senior male executives in Fortune 500 companies revealed: 84% said they would like job options that allowed them time for things outside of work. 55% said they would sacrifice income for time. 50% wondered if the sacrifices they had made for their careers had been worth it. 73% believe that it is possible to restructure jobs to increase productivity and allow more time for life outside of work. 87% believe that companies that make these changes will have a competitive advantage in attracting talent. 37% of professional women leave the workforce at some point, and although 93% want to return, only 74% usually do and only 40% to full-time positions. The Y-generation is amazed that older workers require so much time to get their work done and are willing to do it in such structured time frames. Change is on the way and progressive companies are realising that it is time to redesign the relationship between employees and employers, recognising the diversity of people and their individual needs. Company structures will need to accommodate a range of time commitments and transform to be, as organisational consultant Jon Katzenbach said “less like a pyramid and more like a puzzle.” Companies do not have a choice. In order to attract and retain talent as slow workforce growth tightens labour markets, organisations will need to become willing to handle a variety of employee needs and customise employee deals. Technology allows it, young workers demand it, woman are leaving without it and men are dreaming of it. Companies need to realise that the growing labour shortage in Western countries coupled with a growing skills shortage in South Africa will have a large impact on South African organisations. The local workforce will not have the optimal mix of educational background, skills and capabilities needed by an emerging economy, especially in knowledge-intensive industries. To continue tapping into the pool of Boomers, with their existing education, skills and experience are the quickest solution to the talent gap facing companies at the moment and into the future. Companies also need to realise: The loyalty and reliability of workers over 50. The commitment that Boomers have to the organization. That employing Boomers will cause little or no extra expense to the company – even in health care costs. Boomers in their 60s are middle-aged and not old-aged and much healthier than those a decade ago. In addition, older workers have been found to have lower absenteeism than younger workers. Statistics have also shown Boomers workers to have higher retention rates, and produce higher customer satisfaction and productivity. That employing Boomers decreases the company’s loss of knowledge and wisdom which would leave with Boomers if they were all to retire and leave their organisations. That providing flexible work arrangements to staff will significantly lower voluntary turnover and higher productivity as staff feel that the company has acknowledged and granted their unique need. Balance between work and play Boomers who have worked in structured corporate environments for their entire career need to change the way they think about work and play. The 8-5 day and 5-day week don’t exist anymore as people are able to work anywhere, anytime. In addition, enjoying leisure activities is no longer limited to weekends and holidays. As you look at branching into a new second career, think about how you can integrate and balance your work and play cycles. One thing to realise is that if you truly love what you do, what you do is not really work but play anyway. But also, if you choose to work at night or on weekends, then there is nothing stopping you from enjoying leisure, family and hobbies during the week days. Retirement today is not about giving up work and starting to relax but should be more about finding the balance between work and play that you have not been able to achieve during your first career. It is about having the time and freedom to enjoy what you have worked for and to focus on what is important to you, while still making a contribution to the outside world however that works for you. Workshop. Moving from Work 1.0 to 2.0 and understanding how to navigate my journey. Venue: To be announced - Bryanston area Date: 20th January 2010 Time: 09h00-12h00 or 18h00-21h00 Bookings: Email Lynda lgsmith@mweb.co.za Cost R300.00 per person. Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com

Refirement Network - December 2009 Newsletter

Workshop Moving from Work 1.0 to 2.0 and understanding how to navigate my journey. Venue: To be announced - Bryanston area Date: 20th January 2010 Time: 09h00-12h00 or 18h00-21h00 Bookings: Email Lynda lsmith@mweb.co.za Cost R300.00 per person.	Life is a series of crossroads where we have the opportunity to grow, learn and make decisions. At each crossroad, life takes us further depending on the decisions and lessons we have learnt. We should never stop this process of learning. I hope that this year through the workshops, newsletters and conferences that Refirement Network has helped you to navigate your journey. The Social Network site also allows one the space to explore your own learning and areas of interest with the more than 200 members. If you have not yet joined, this may be a decision for your own journey in 2010. There will also be some conversation groups and new workshops in 2010. Thank you to those members who took the survey that I had designed. The feedback so far is interesting. I will place the results on the website when I feel there has been enough response to give a balanced view. You can do the survey here: http://www.surveymonkey.com/s/TFSMGMF
I am releasing a new workshop in late January 2010. I have sensed through many conversations that one of the greatest areas of need is in understanding the concept of work in the 21 st century. This workshop will help any person over 45 understand the complex challenges of the 21 st century workplace, what options are available and how to navigate the road to planning a new career beyond your current one. It will also be useful for those who have been retrenched or for someone employed who would like to work in a different career when they retire from their current workplace. The title of the workshop is Moving from Work 1.0 to 2.0 and understanding how to navigate my journey. I am also starting a new pilot project on the Western side of Gauteng. I will hold two conversation sessions for any Baby Boomers interested in attending. These sessions will be free but I would like to know if you will be attending. The objective of the session is to outline my vision for the area in 2010. These sessions will take place at Coffee Shop – Community Ministries Muldersdrift (opposite Drift Inn on Muldersdrift Boulevard). Thursday 14 th from 14h00 to 16h00 and Saturday 23 rd from 09h30 till 11h30. Helen Grange from The Star did an article on our 3 November conference. Read it in this edition if you were not able to join us on the day. The Christmas holiday season is about reconnecting with those close to you and spending time making memories. It is also a time to reflect on life and what this means. My wish for you is to help make memories with those you love and to bless those that may not be able to make their own. Thank you for all the connecting, collaborating and building that you have helped me with this year. Blessings Lynda Smith   Did you know that only five in 100 of us will have enough money on which to retire? According to personal finance consultant Iona Minton, most South Africans will run out of funds long before death and end up dependent on family, friends or charity. This is because, on average, South Africans are 25 percent underfunded for their retirement, partly due to having spent most of their lives paying off debt. Minton says South Africans spend, on average, 76 percent of their salaries on debt repayment. "The average South African pays about R2-million in interest over a lifetime, or R4 000 a month over our working lives. We are over-indebted, so for many saving is actually impossible," she says. Consequently, many people end up with few assets when the time comes to down tools and rest a little. "I deal with these unfortunate cases all the time, people who've made mistakes that could have been avoided," she says. And did you know that you will probably need to make your retirement funds stretch quite a lot longer than 20 years? In fact, you may have to plan for 40 years of retirement. The average age expectancy in the Western world today is 80 or more but, thanks to modern diets and advanced medical care, it is rising. In the US, it is estimated, there will be well over a million people over the age of 100 by the year 2015, compared to only 100 000 in 1980. From a financial standpoint, the thought scares everyone and no one but the mega wealthy is immune to outliving their means, even if you've been on a pensionable salary with the same company for 45 years. Minton was addressing a conference organised by the Refirement Network (www.refirementnetwork.com), a resource primarily for "baby boomers" born between 1946 and 1964 looking to ensure financial security in their golden years. Its brainchild, Lynda Smith, aims to help people keep up to date with trends and ideas that could change their destinies for the better, though her strategies are relevant to every working individual. Minton says killing debt is the number one strategy in being able to retire comfortably. "Now that interest rates are dropping we should be paying off as much debt as possible to free up cash for saving," she says, adding that experts agree on the need to save at least 15 percent of our pre-tax salaries for 25 years in order to be financially independent in our retirement. "Financially independent doesn't mean that you're going to retire rich, or be able to go yachting around the world. "It simply means you'll be able to maintain the same standard of living as you have now," she says. Meanwhile, the whole concept of retirement needs to be re-examined, it seems. Minton referred to the book, The New Retirementality, in which Mitch Anthony notes that we often spend our entire lives working in jobs we hate, to accumulate money for retirement, then when we finally get there, we find retirement is a monumental letdown. He writes: "The whole concept of retirement was a product of the industrial age, where the majority of workers were doing physically exhausting work which they did not particularly enjoy. "However, today most potential retirees have been trading 'intellectual capital' rather than physical prowess and are quite likely to be in their prime at the age of 65. "For today's retirees, a retirement spent sipping cocktails and playing golf will no doubt lead to boredom and dissatisfaction. "More and more, research is showing us that retirement cannot be successful unless you involve yourself in something that is vital and purposeful for you." In this vein, Lynda Smith works with people to help them define a job or career that ignites their passion, so that they life a happier, more fulfilled life. Pete Laburn, who runs a strategic change consultancy and lectures at business schools around the world, told the conference that baby boomers needed to access the initiative they have shown all along, and instead of retiring, "rewire and refire". "The boomers were great innovators. They changed every life stage as they moved into it. Smaller families, feminism, political freedom - all of these things happened under the boomers' watch. We're now 55, with 25 to 30 years left, and still have a lot to offer." The fact is that most boomers don't want to stop working, and it's been found that if you retire at 65, your life expectancy is actually shorter, he says. In deciding to continue working, however, Laburn warns against "joining the treadmill and trying to run faster", but rather to join forces with Generation X (those born in the 60's and 70's), to share your valuable store of experience and talent while learning from this generation. "Talent is ageless, and there is a real need for talent and skills out there. I believe that a partnership between boomers and Generation X-ers would be potentially world changing," Laburn says. To become "Generation X compliant", however, boomers need to understand that the traditional rules of work are no longer relevant, that for the younger generation time is flexible, work is about output rather than hours put in, that you have "associates, not employees". By fitting in, you could continue being the force of change that defined the boomer generation, he says, and retirement will become what it is - obsolete. Planning for your retirement Get rid of the debt monster. Consider that the interest you would pay on a R400 000 property over 20 years amounts to about R500 000. If you can, pay it off in half that time. Be disciplined. Don't raid your savings plan if you need quick access to cash, and have a monthly debit order ensuring that funds get paid over to an investment account. See a financial planner. While you may understand the various investment products, how you mix them to form a strategy can be complex. Many women believe that somehow they'll be rescued by a prince with deep pockets. A big mistake. All women should live their lives as if they will always be single, and never give up on the ability and desire to work. Take a long term view. It takes time to build up capital to a point where it starts to compound. Get a good strategy and stick to it. Have a three month emergency fund (equivalent of three months' salary). This will insulate you from financial emergencies such as job loss or a car accident. Don't stint on medical aid, car and house insurance. Retiring makes you 10 years younger Giving up work makes you instantly feel 10 years younger, a study by a Swedish and French team claims. Physical illness and mental pressures melt away with the end of work and the benefits last a decade, research shows. The joys of retirement apply equally to boardroom bosses and those on the shop floor, according to the 14-year study. Researchers found that the more demanding the job, the more significant the improvements on retirement. Backache and neck pain often disappear, as well as depression, asthma and the risk of a stress-induced stroke. The positive effects work for women as well as men and regardless of whether retirees are married or not. - Daily Mail This article was originally published on page 13 of The Star on November 13, 2009   Refirement Social Network This is a new social network that I have set up for Refirement Network. Please join and invite all other Baby Boomers. Click to join Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com

Refirement Network - October 2009 Newsletter

Workshop 21st Century Retirement Hosted by Refirement Network The world has changed. Retirement has changed. We are the first generation of people ever in the history of the world who will walk into a new adventure in this life stage if we are prepared. Join us for the morning to listen to four great speakers help companies and individuals to understand this trend and build a framework for the future. Venue: Bryanston Country Club Date: 3 November 2009 Time: 07h30 till 12h30 Bookings: Lynda 082 490 2822 / Lynda@refirementnetwork.com Cost R550.00 per person. Click here for more...	Dear Fellow Boomers, The year is almost over and as I reflect on the pace of life and change I am conscious of trying to focus and to be sure about what is important in my life. If we do not know who we are and where we are going, there is enough distraction and manipulation to take us down many other paths. Our generation has been given the gift of an extra ten to twenty healthy years compared to previous generations. This is because of medical technology, improved education and less physical work. We help our children plan their career path but what are we doing to plan this new path that we will navigate? The event on 3rd November is important for many different groups of people. We do this event once a year for the general public. The speakers are world-class. Consider attending if any of these statements apply to you.
You are part of the strategic team of a company that has a baby boomer employee base or client base. You are involved in the Human Resource Development field, especially employee benefits and wellness. You are in the financial services industry and have baby boomer clients. You are in the recruitment industry and looking for talent and innovative solutions. You are concerned about the loss of wisdom in your organization. You are a baby boomer and fear or in denial about your future. You desire to find a new job/career and not sure where the opportunities are. You are interested in finding out more about the retirement framework for South Africa. You are in debt and need to work beyond your formal retirement. The article this month is about understanding the process we use to help companies understand why wisdom is a complex skill to transfer. We believe that as a team we have discovered ways to help companies deal with this process. If this article is of interest to you, please connect with me to discuss how we can assist. I have just completed by year of study at Gordon Institute of Business Science. I did a Certificate in Social Entrepreneurship. I would like to close with the vision statement on my certificate. “We have a responsibility in our time, as others have had in theirs, not to be prisoners of history but to shape history, a responsibility to fill the role of path-finder, and to build with others a global network of purpose” Lynda Smith     A story to begin with… We once worked with an earth-moving equipment company. Hennie, the bloke who ran the rebuild workshop, was a legend in the industry. With decades of experience in rebuilding yellow equipment, he was revered for his ability to diagnose problems in the most peculiar manner. A loader would be wheeled into the workshop to be diagnosed prior to being rebuilt and the younger mechanics would grab their trolleys filled with the latest set of diagnostic equipment and begin connecting the loader to run their software programmes. Hennie would scoff at these newbies and tell one of them to switch the ignition on. The engine would roar to life and Hennie would side up to the machine, turn his ear to the engine block and listen intently ... with an intent look on his face like he'd just stuck a stethoscope onto the chest of a sick patient. Hennie would listen for a minute, while the newbies were still trying to start their programmes. He would then look up and shout across the workshop, "The crankshaft is worn!", leaving the newbie mechanics at an absolute loss for words. Over the span of his career Hennie has developed an art of listening to the sound an engine made to diagnose the problems with the internal mechanisms. His "gut feel" knowledge and wisdom is rare in the industry and there are similar folk like him in many industries: finance, engineering, construction, marketing.  They are however becoming fewer and fewer. Wisdom continuity … One of the key challenges faced by businesses today is being able to fast-track the development of a new breed of employees; new recruits who are incredibly bright, but lack the experience and "gut feel" required to make good decisions in their industry. As such, wisdom continuity is a capability organisations need to master in order to stay in business.  Practical suggestions … Here are some practical suggestions on how to begin the process: 1. Identify the group of people who you'd classify as the "grey-beards" 2. Take a narrative approach: people do not like capturing technical knowledge in reports, but they love to tell stories! 3. Take a holistic approach to capturing their knowledge by utilising the HARNESS framework.  For each story they tell  you about an instance where they applied or gained knowledge ask the following: - Which Heuristics (or rules of thumb) were used? - Which Artefacts (any source of external/codified knowledge e.g. books, web sites) were useful? - Did you draw on any Relationships to assist you? - Do you think that you possess a Natural Ability that you relied on in this instance? - Which Experiences did you draw on (experience can't be taught, they need to be lived)? - Which Skills were required (skills are things that can be taught to others)? - Were there any Stories that you remembered hearing that you applied in this context? 4. Once you've extracted the HARNESS elements, collate them in a logical fashion and find contextually relevant and novel ways to disseminate them back into the environment.  Narrative databases, simulations and games are some ideas to keep in mind. We've just completed a similar process in the Credit Division of a large bank with excellent results.  Feel free to contact us if you have questions, or if you need consultation in this regard.   This article was written by Narrative Lab. Go to www.narrativelab.co.za for more details. Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda@refirementnetwork.com for more details. Our web address is www.refirementnetwork.com