Money can’t buy me love

The Beatles told us that “Money can’t buy me love.” Good advice, but law firms are trying to buy love anyway, hoping that huge bonuses will keep the associates they need. The tactic isn’t working. In the last 12 months, associate compensation has risen 10%, yet attrition is over 14%. So, what can law firms do to retain associates? I discuss one very easy step below.

The holidays are coming up fast, and year-end is a time when people contemplate their future plans. It’s the perfect time for my book, Retirement by Design. As the 100-year life becomes a reality for more and more people, we need to think about retirement in a completely new and different way. Below I explain why our increasing longevity makes creative retirement planning essential, and how my book can help you design a happy, meaningful and adaptable future.

In addition to the private consulting, programming, and presentations I’ve been doing about mentoring and retirement, I have done many webinars, programs, podcasts, and articles that are available to the public. As you scroll further down, you’ll find links to some of those resources.

My sincerest wishes to you all for a very happy Thanksgiving. These last two years have shown us how much we have to be thankful for, and this year should be especially meaningful as more of us are able to celebrate in person with family and friends. I hope your celebration is filled with…

Retirement at Any Age

I realized how much has changed about the way we view careers when a young woman I have been dealing with professionally told me she was leaving her firm to take a “mini-retirement” and move to Portugal for a while. She was feeling burned out after working hard through the pandemic and wanted to take some time to think about her next steps. Though she was not yet 25 years old, she was highly educated, had impressive credentials and experience, and had lived, studied, worked and traveled in several countries on different continents. She knew she had a number of job options and felt no hurry to take one; she wanted some time for herself, to reflect, enjoy life, and plan her next move.

This young woman represents the radical shift that is happening in the traditional career model most of us are familiar with, where retirement happens later in life. In the traditional model, people went to school in their 20s, worked through their 30s, 40s and 50s, then retired in their 60s. But today, careers are becoming choppier and longer, their trajectories less linear and more cyclical. People move in and out of work, alternating periods of employment with “mini-retirements” to explore, study, or do whatever they choose. And rather than trade work for leisure at 65, people in their 60s, 70s and 80s are continuing to work and remain highly productive. Encore careers and entrepreneurial ventures among…

Dealing with uncertainty

Spring is here along with vaccines, and we are starting to lower our masks and re-enter the world. But even with these reasons for hope, we will be facing heightened uncertainty for the foreseeable future. The future is always uncertain, of course, but even the limited stability we knew 14 months ago has been upset and is likely to remain unsteady as we try to build a new meaning for “normal.” Most of us have learned to cope with this uncertainty over the past year; some did better than others. What people may not realize is that older people have been the best at coping.

Studies conducted before and during the pandemic have consistently found that older age (age 50 and up) is associated with better emotional well-being. In discussing these findings, Dr. Laura Carstensen, director of the Stanford Center on Longevity, has noted that “despite ‘grave risks to physical health, uncertainties about contagion and restricted social contacts,’ older adults had less frequent and less intense periods of anxiety, anger, stress, boredom and other negative emotions than younger people.” As we get older, we understand and manage our emotions better, even in times of prolonged stress. We have been through other periods of stress and endured life’s tribulations, and we know that we will eventually come out of this pandemic and move on. We understand that things will be different, and not only that we will find ways to…