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Why You Should Never Retire But Do It Soon

Written on November 30, 2011 by George Krueger & Mary-Lynn Foster in Life Planning

Just a month after he retired from 60 Minutes, we were said to hear of the passing of Andy Rooney.

It’s a reminder of the way things used to be.

Work to live

Back in the day, people often retired from the workforce only to retire to the afterlife a short time later.

We’re all familiar with the phrase “shop ’til you drop.” In reality, a lot of people work until they drop.

BIGG success is life on your own terms. Work is one of the five elements of BIGG success. Just one.

Work is but one part of your life. Your life is a system.

So work to live. Don’t live to work.

The purpose of work

With that in mind, we hasten to add three notes about work:

Work adds value.
Work creates growth.
Growth leads to meaning.

So the problem comes when you define yourself by your work. Your work is a part of you, not the other way around.

Work is not the end. It is the beginning.

It is one of the ways you learn about yourself. Your work is the manifestation of who you really are, deep down inside.

So work is important because it helps you discover yourself.

Never retire

And that self-discovery never end. As long as you keep working.

So never retire!

Now this doesn’t mean you have to work 9 to 5 for the rest of your life.
You don’t have to be at the office Monday through Friday.
You don’t even have to trade time for money.

You can volunteer. You can go back to school. Or you can start your own business.

You can do anything. But the important thing is to do something.

So don’t plan to retire. Plan to move on to something bigger and better. Do it sooner rather than later. That’s BIGG success!

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Tags: 5 elements, 60 minutes, andy rooney, bigg success, george krueger, life, living, mary-lynn foster, retire, retirement, Work

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Do All Entrepreneurs Need an Exit Plan?

Written on April 4, 2011 by George Krueger & Mary-Lynn Foster in Entrepreneurship

Most entrepreneurs don’t have an exit plan. Most advisors and academics says they need one.

A growing chorus is singing the song of the entrepreneurs. We think they’re out of tune.

Bankers have at least two ways to get their money back or they won’t loan you money. Venture capitalists have an expectation of how they will get out before they get in.

As an entrepreneur, you have a greater stake than anybody else in your business, no matter how much money they tie up in it. You need to know how you might exit even if you don’t plan to exit.

It’s about liquidity.

At some point in your life, cash may be a more valuable Asset than a business. With every other Asset, we invest cash thinking it will turn back into cash someday. Why should our businesses be any different?

It’s about legacy.

Exit planning is continuity insurance. You’ve put your heart and soul into your business. Do you want to risk that it falls apart if you’re not able to be there for one reason or another? Of course not.

Most importantly, it’s about options.

If you plan on an exit and run your business accordingly, you’ll have the ability to walk out completely or at least step away and create some distance. At some point in your life, you may find more enjoyment from activities that don’t involve building a business.

It doesn’t mean you ever have to retire. It doesn’t mean you ever have to sell out. It does mean you’ll be able to live your whole life on your own terms.

Do you need help planning your exit? Maybe we can help. E-mail us at bigginfo@biggsuccess.com or leave a voice mail at 888.455.2444.

Image in this post from svilen001