How to reach your Victory Lap Retirement

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By Richard Eisenberg, Work Editor, Next Avenue.org

Special to FindependenceDay.com

Mike Drak and Jonathan Chevreau, authors of the new book, Victory Lap Retirement, are on a crusade to change the way society thinks about retirement. Their book is actually, as Drak says, “a retirement book about not retiring.”

A Victory Lap Retirement — Drak, 62, coined the term — means spending years combining work and leisure between the time you quit a full-time job and stop work entirely. In the book, the authors say a Victory Lap Retirement lets people change from a “surviving mentality” to a “thriving mentality.” The Toronto-based duo would know: They’re both taking Victory Laps right now.

Previously, Drak spent nearly 40 years working in commercial banking. He quit in 2014 to protect his health and personal well-being. Now, when he works, he  is a retirement coach, public speaker and writer (next up: a retirement transition guide). Chevreau, 64, is a veteran financial columnist, blogger and author of the book Findependence Day; I interviewed him for Next Avenue in 2013 about “findependence” — his term for having enough money so you can work because you want to, not because you have to. He still writes about personal finances, but on his schedule.

I recently spoke with Drak and Chevreau about how and why to have a Victory Lap Retirement. Highlights: Read more

Retirement STILL Rocks!

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By Heather Compton and Dennis Blas

Special to FindependenceDay.com

Since retiring in 2004, we’ve learned a thing or two.  Foremost, a rockin’ retirement requires more than a bucket list: it’s not a given, it’s a statement of intention. A satisfying retirement requires finding new ways to satisfy our needs and utilize the skills and talents that give us the greatest satisfaction. Like a working career, a retirement career unfolds, develops, progresses and changes as life circumstances unfold. This doesn’t mean some front-end planning won’t be useful. Our cornerstones for a rockin’ retirement include Lifestyle, Relationship and Finances.

Go-Go to Slow-Go to (sigh) … No-Go

Many of us will have a third act lasting 30 plus years and few will plan for the full-stop retirement of a previous generation.  All play and no work also makes Jack a very dull boy! We may think of retirement as one long time frame, but those who study aging divide it into three distinct phases: the go-go, slow-go and no-go years. Certain Victory Lap careers, travel destinations and budding interests must be pursued in the go-go years; others might wait until the slow-go. Either way, you’ll want to mind-bank lots of great life experiences to relive in the no-go years! Read more

The 6 steps to Financial Independence

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L to R: Ed Rempel, Jon Chevreau, Mike Drak

By Ed Rempel, CPA, CFP

What is financial independence? How do you get there?

Financial independence means work is optional. You have enough money to live the way you want without having to earn money.

When you get there, life changes. You have freedom. You can do only what you enjoy or find meaningful.

If you don’t like your job or your boss, just quit. Your life is full of options. You can make the most of your own life.

When you get there, you can have a quiet confidence. You are financially secure.

Your plan should start with understanding your inner motivation and defining specifically the lifestyle you want to have once you are financially independent. It is your opportunity to determine your future.

Becoming financially independent requires planning and effort, but it is worthwhile to live a more fulfilling life. “It’s not about the money. It’s about your life.”

“Real freedom is financial freedom.” When is your Findependence Day?

Achieving financial independence is a very broad topic. Writing nearly 1,000 comprehensive, professional financial plans specifically for real Canadians has given me a deep insight into what really works.

Seminar Wednesday in Toronto

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ChangeRangers’ Mark Venning on Findependence & Victory Lap Retirement

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Mark Venning of ChangeRangers.com

By Mark Venning, ChangeRangers.com

Special to the Financial Independence Hub

“We’re on a bit of a crusade to change the way our society thinks about retirement.” — Jonathan Chevreau & Mike Drak

Mike Drak and Jonathan Chevreau, co-authors of Victory Lap Retirement (published, October 2016) are not the first to head out on this crusade. Apart from the material on the larger subject of aging and longevity, in my library I must have at least 19 books, in addition to the stacks of reports, studies and new models on the subject of Retirement.

Over the twenty years in the career services industry, where I worked directly with business executives in their later life transitions – leaving the corporate crow’s nest, as I call it, I can appreciate where Mike and Jonathan are coming from in their take on this. I have produced three retirement programs since 2001, and in the process suffered from metaphor madness, developing novel ways of reframing the concept of retirement and our later life journey.

However, this Drak & Chevreau volume is a welcomed new addition to this crusade. The book, by way of its novelty, weaves the conversation from the threads of a concept called Findependence, as the cornerstone of a Victory Lap Retirement.  So here we go. Rather than a traditional book review, here in this blog post, I present views of the authors as shared through interview questions with them in late October.

Authors Interview

Mark’s Q: Your co-authored book, early on, takes a shot across the bow at the “financial media & financial services industries” in the way they persist to push “Retirement” as if it were some final destination. (There seems little shift between the 1970’s London Life’s Freedom 55, to Prudential’s 2016 Race for Retirement campaigns for example.) What one new key message should marketers take from reading Victory Lap that could become a differentiator in their marketing?

Mike: The industry is using the same commercials that they used 40 years ago. The only difference is that they are now in color. The world of retirement has changed significantly over the years and most people cannot afford nor do they want to live the lifestyle portrayed in their commercials.

Banks assume more money equals better retirement, which is wrong thinking. Banks are good with the investment piece but they need to become more involved with the lifestyle piece. How can you ever know if you have enough if you do not have a firm handle on what type of retirement lifestyle you want in retirement and what that lifestyle will cost?

Mark’s Q: At one point in Chapter 3, you make the point that: “Compounding the problem is the lack of financial education our children receive in school.” You also say in Chapter 4 that the importance of financial independence is a prerequisite to the new stage of life you call “Victory Lap Retirement.”  Let’s play here. What do you think about an opportunity for you to design/deliver a “Findependence” course relatable to high school teenagers that didn’t use the word Retirement? What then would the main message sound like to them? Read more

Boomer & Echo’s review & giveaway of Victory Lap Retirement

By Robb Engen, Boomer & Echo

There’s a growing body of evidence that suggests postponing retirement – even by just one year – can lead to a longer, healthier life. The reality is that we’re living longer and saving less. Something has to give. But another year or two spent pushing paper in a cubicle is probably not the holy retirement grail we’ve been searching for.

Related: Growing older in America – The Health and Retirement Study

Indeed, if you’re healthy and can afford to stop working, the idea is to find something else you’re passionate about and do that instead – whether it’s switching to a new career in an unrelated field, writing a book, starting a blog, or simply volunteering at your favourite charity. Call it your work-optional years.

Victory Lap Retirement

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