Are you a man over 50 contemplating retirement or already there? It's time to shift your mindset.

The traditional retirement industry focuses on scarcity, risk avoidance, and playing it safe. However, successful men like you have spent your lives doing the opposite – creating abundance, taking calculated risks, learning and pursuing prosperity.

In this issue , we are going to cut through the fluff and share why reinvention trumps retirement.

We’ll touch on typical retirement traits such as scarcity, fixed mindsets, risk aversion and decline and offer positive alternatives that supports reinvention.

The Retirement Industry's Scarcity Mindset

The traditional retirement industry often focuses on scarcity, risk aversion, safety, and avoiding running out of money. While these may be acceptable ways to run a conservative portfolio, they are not terms that describe the lives of successful men.

As we move through the 2nd half of life, the typical retirement approach of preserving assets and avoiding risks can have unintended consequences and spill over into people’s lives leading individuals to become overly cautious and resistant to taking calculated risks. This mentality can permeate all aspects of life, hindering personal growth, learning, physical activities and the pursuit of a life filled with abundance.

The result: you spend the rest of your life playing not to lose vs playing to win.

Men over 50 have spent their lives growing, living abundantly, taking risks, being bold, and accumulating wealth. You can avoid the retirement mindset trap and use this time to break free and adopt a mindset of abundance. Firewall your retirement investment strategy from how you live your 2nd half of life!

Abundance vs Scarcity

An abundance mindset is characterized by a belief that there are ample resources, opportunities, and possibilities in the world. Those with an abundance mindset tend to be optimistic, open-minded, and proactive. They view setbacks as temporary and believe that success is achievable through hard work, collaboration, and innovation. This mindset fosters a sense of gratitude and contentment, as individuals appreciate the abundance around them. People with an abundance mindset are more likely to take calculated risks, explore new ventures, and embrace change with enthusiasm.

On the other hand, a scarcity mindset is marked by a belief that resources are limited, and there is not enough to go around. Those with a scarcity mindset often feel anxious, fearful, and protective of what they have. They perceive competition and challenges as threats, which can lead to hoarding and a reluctance to share knowledge or opportunities. This mindset can hinder personal growth, as individuals are more risk-averse and resistant to change. Scarcity thinking can also lead to feelings of envy and dissatisfaction, as people focus on what they lack rather than what they have.

Embracing a Growth Mindset

Retirement, with its promises of leisure and relaxation, looms large on the horizon for Men over 50. In fact, some of you reading this are in retirement.

However, the choices made now will shape the nature of this new chapter. Do we embrace the possibilities of growth, or do we slip into a fixed mindset, resisting change and stifling potential?

Let's explore what a growth mindset is, what a fixed mindset represents, and why adopting the former is crucial for men entering the second half of life.

The Mindset Divide: Growth vs. Fixed

Let’s compare and contrast these two types of mindsets.

Growth Mindset 

1. Embrace Challenges: Those with a growth mindset relish challenges as opportunities to learn and improve. They see adversity as a stepping stone, not a roadblock.

2. Believe in Effort: Effort is the path to mastery. A growth mindset individual understands that with persistence, improvement is not just possible but inevitable.

3. Embrace Learning: They value continuous learning, constantly seeking out new knowledge and experiences to expand their horizons.

4. Persist in the Face of Setbacks: Failures are not seen as fatal but as learning experiences. They bounce back stronger, wiser, and more determined.

5. Inspired by Others' Success: Instead of being threatened by others' accomplishments, they are inspired and motivated by the achievements of those around them.

Fixed Mindset

1. Avoid Challenges: Fixed mindset individuals tend to avoid challenges or situations where they might not excel immediately, fearing the potential for failure.

2. Rely on Natural Talent: They believe that success is primarily determined by innate talent, discounting the role of effort in achievement.

3. Resist Learning: They may stick to what they already know and shy away from new experiences, feeling that there's nothing new to be gained.

4. Derailed by Setbacks: Setbacks can be debilitating, causing self-doubt and a fear of trying again.

5. Threatened by Others' Success: The accomplishments of others are perceived as a threat, making them defensive and envious.

Why a Growth Mindset Matters After 50

Entering the second half of life, the benefits of a growth mindset become even more apparent:

1. Retirement Redefined: Retirement should not be the end but the beginning of a new phase of life, filled with opportunities for personal growth and development.

2. Mental Agility: A growth mindset keeps your cognitive abilities sharp, enhancing your mental agility and preventing cognitive decline.

3. Embracing New Challenges: Learning new skills, pursuing new interests, or even starting a new career are within your grasp, thanks to your willingness to embrace challenges.

4. Health and Well-being: Research shows that individuals with a growth mindset tend to lead healthier, happier lives, reducing the risks associated with stress and stagnation.

5. Fulfillment: A life spent embracing a growth mindset is a life filled with fulfillment and purpose. It's about discovering new passions, nurturing existing ones, and continuously evolving.

Smart Risk-Taking: A Path to Prosperity

Successful men over 50 didn't achieve their accomplishments by playing it safe. Retirement is an opportunity to continue taking smart risks, both in finance and in life. Here are a few reasons you should continue to take calculated risks after 50:

1. The Growth Paradox: Comfort is Not Your Friend

True growth occurs when we step outside our comfort zones. The so-called "Comfort Crisis" is brilliantly explored by Michael Easter in his book of the same name. In it, Easter delves into the science and psychology of pushing one's limits, both mentally and physically, to experience profound personal growth.

2. Men Are Built to Take Risks

From the earliest days of humanity, men have been the risk-takers, explorers, and hunters. Evolution has hardwired men to confront challenges and uncertainties head-on. This primal instinct, the desire for adventure, and the willingness to push boundaries don't diminish with age. In fact, they may become even more important as men get older.

3. Mental Agility: Keep the Mind Sharp

Taking calculated risks keeps the mind agile. Engaging in new experiences, facing adversity, and dealing with the unknown stimulates cognitive functions and creativity. It's the mental equivalent of exercising a muscle - the more you use it, the stronger it becomes.

4. Building Resilience

Life is full of ups and downs, and risk-taking can help build resilience. By exposing yourself to various challenges, you develop the ability to bounce back from setbacks and adapt to changing circumstances. This resilience can be a valuable asset in retirement, ensuring you remain adaptable and strong.

5. Financial Health: Calculated Investment Risks

Just as in life, your investment portfolio shouldn't stagnate in the second half of life. While it's crucial to manage risk, diversify wisely, and make informed decisions, calculated investment risks can potentially yield substantial rewards. The key is to balance your risk tolerance with your financial goals, adjusting your investments as needed.

6. Fulfillment in Adventure

Continuing to take risks, whether through travel, hobbies, or new business ventures, can lead to a more fulfilling retirement. Adventure and excitement contribute to a sense of purpose and keep life interesting and engaging.

7. The Power of Legacy

In the second half of life, we begin to think about the legacy we'll leave behind. Taking risks and embracing challenges can create stories and memories that your family, friends, and even future generations will cherish. Leaving a legacy of resilience and adventure can be more impactful than simply accumulating material wealth.

How to Embrace Reinvention in Retirement

Now that we've explored the importance of shifting your mindset from retirement to reinvention, let's discuss practical steps you can take to make this transition a reality.

1. Set A Clear Direction

• Define what you want to achieve in this new phase of life. Use the book “Be Your Future Self Now” by Benjamin Hardy as a guide. Get your free kindle edition here.

• Create goals and processes to achieve your goals. Measure your progress regularly and make adjustments.

• Design standards that help you achieve your goals.

2. Cultivate New Interests

• Explore hobbies or passions you may have neglected.

• Take up activities that challenge you mentally and physically.

• Focus on 1-3 and go deep vs dabbling in a number of things.

• Try the 90/90/1 approach.

3. Invest in Lifelong Learning

• Enroll in courses or workshops to acquire new skills.

• Read books and stay informed about evolving trends and technologies.

• Hire a personal development coach to help you along the way.

• Join a group of like minded people and learn from them.

4. Take Calculated Risks

• Evaluate opportunities for physical & mental challenges, investments, business ventures, philanthropy and unique experiences.

• Seek advice and counsel from financial experts, successful friends and people ahead of you in life before making significant financial decisions.

• Bet the garden, not the farm.

• Face the flinch.

5. Prioritize Health and Wellness

• There are no health benefits to being fat and weak. Get your body fat tested and get it under 20%. Focus on strength training to improve longevity.

• Maintain a healthy, protein centric diet and engage in regular physical activity. See bullet above.

• Attend regular check-ups and screenings to catch potential health issues early.

• Get your biological age tested to see if you are aging faster than your birthday. Biological age can be reversed, effectively giving you more (and better) years.

6. Network and Build Relationships

• Connect with like-minded individuals and engage in social activities.

• Mentor or volunteer to make a positive impact in your community.

• Keep expanding your network and focus on adding younger people to your inner circle. You’ll learn more and be stretched by a younger generation of contacts.

Conclusion

Retirement doesn't have to be a time of scarcity, decline, and risk aversion. Successful men over 50 can embrace a new mindset of reinvention, focusing on abundance, growth, and smart risk-taking. By taking practical steps, such as setting clear goals, cultivating new interests, and investing in lifelong learning, you can redefine retirement and make it a time of prosperity, expansion, and continuous improvement.

In the end, remember that life doesn't end at retirement; it's a new beginning. Embrace the power of reinvention and discover the limitless possibilities that await you in this exciting phase of life. Your journey towards "reinvention > retirement" starts today.

If you are a man over 50, complete this free health assessment to learn how Hard To Kill you are. 

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