Doug Goodwille from Kayne Anderson speaks to Drew Meredith from The Inside Network on market thinkers.
While a surging gold price is on hold as the world adjusts to a Trump presidency, all the factors that saw its price rise more than 50 per during his first term in office – trade disputes, fiscal deficits and geopolitical tensions – are almost certainly guaranteed the second time around.
Finding a purpose in life critical to a fulfilling retirement
Like all other stages of life, retirement comes with its challenges. But perhaps the biggest one was finding a purpose for living post the workplace, retiree coach Dr Jon Glass (pictured) told attendees at the boutique financial advisory firm Wattle Partners’ event Making the most of your Golden Years.
“It’s what the Japanese call ikigai – simply meaning ‘your reason to get out of bed each day’ – and for Glass that was the key to a successful retirement.
“There’s no doubt you must have financial security to enjoy retirement. Good health is essential too. But you must have a purpose in life otherwise you just drift.”
As Gloss explained to the audience, it’s a journey he had been on. “When I left the financial services industry after many decades, it took me time to discover what I wanted to do with my life. In the end I found it in retirement coaching.
“Certainly, there’s the family, grandchildren, friends, but you need your ikigai to bring it all together. In our language, I call it Factor X, and when you consider you could be living for another 10,000 days, it’s critical.
“Remember, there’s going to be challenges – major challenges. Your partner could pass away, if you have living parents as you enter retirement (and many do) you will have to handle their ageing, there’s mental issues and even divorce after many decades of marriage happens to those in retirement.”
He said that mental issues were not uncommon when people left the workplace and suddenly had all this time on their hands.
“No doubt there’s a honeymoon period, when all those things you wanted to do become possible. But as we all know too well honeymoons don’t last, and you need to build structure into your life.
“This is where some self-reflection does not go astray, to sit back and ask yourself some pertinent questions. What kind of person was I at work? What did I enjoy doing outside of work? What did I love doing as a child? And, very importantly, what did I sacrifice for my career?”
Gloss said it was the answers to these questions that can help people starting their retirement to find their ikigai and avoid the boredom that can easily afflict people post their working lives.
“There’s no one answer. Everyone is different. But as a retirement coach I have some guidelines that hopefully get people on the right track, including building social connections, establishing new routines, learning to have better conversations, and re-connecting with people who once helped them or whom you once helped.
“Remember, time runs out, and as you age so will your physical and mental capabilities diminish, so, at this stage of life, don’t put off till tomorrow what you can do today.”
