Midwestward, Ho!
I’ve got a piece in the next issue of BusinessWeek (out January 29) that recounts how and why in 1999 we decided to pull up stakes and move from New York to Wisconsin. In addition to the personal reasons described in the story, the BusinessWeek feature explores a couple of lessons learned in the seven years between the time we made the move and the completion of THE NUMBER.
The first lesson is that most of us approach retirement planning in one of two ways. Some of us are like the Little Red Hen: we plant our grain early on, knowing that we’ll need more than one slice of bread over the course of the second-half. The rest of us — including me — choose to play financial chicken with the rest of our lives. We put off real planning and hope for the best.
The BusinessWeek story also raises a few questions about the life passage du jour known as “downshifting,” the transition between fulltime work and all-out retirement, an extended phase that seems to be in cards for most of us these days. As I discuss in the book, downshifting can be a terrific time: you can keep yourself busy and productive, yet also have years to explore passions you never got to indulge when you were running the rat race. Downshifting can be tricky, though. If you’re not careful, as I try to explain in the piece, it can just be a fancy excuse to coast. If you get a chance, check out the magazine and share any thoughts.