What We're Following Today July 21, 2020
Should You Take Early Retirement?
Peter Dunn does a nice job in this article answering a woman's question about retiring early when offered the chance and a payout. She wanted to know whether or not it would make sense to take the money and Peter rightly gets at the questions at heart - are you ready to retire? Emotionally?
This inquiring reader was financially able to retire, and she could likely do so in a heartbeat, but to even ask would suggest that there is something keeping her from committing - and those things need to be investigated before making the yay or nay decision. If you don't have other activities and things that give you purpose in early retirement, you may find that the luster wears off fast. Have a read through this article to think about how financial decisions and emotional decisions about retirement are often intermingled.
Financial Planning in Covid Webinar July 29 in Massachusetts
I'm not sure if there is a location limitation to this webinar, but I would imagine that even if you can't attend it from out of state that there are likely other events out there to find in your area. As we move to more virtual meetings, you can really pick and choose from a wide array of topics and professionals all out there providing guidance and wisdom in their respective fields.
International Financial Struggles in the Pandemic
This article on BBVA's website about Euro troubles for those who may be suffering amid lockdowns, shutdowns and more shows some clear troubles for people / businesses not able to capitalize on digital tech, and also for certain swaths of the population (particularly foreign born residents). There are some interesting stats in this article AND there are likely some clear parallels to our own situations here in the US.
At Generation Bridge we are trying to be more digital, but our hearts are in face to face connections. Make no mistakes about it, when / if the power goes out, those who are able to interact with each other, who can perform essential services in the next black swan event will also be able to thrive. So while some with more digital skills are separating themselves even more now, in the future we could likely see a switch to a more personal or local relationship based model. Either way, we have to recognize the benefits of new technology to help get the word out wider and quicker, but then in the future we're going to need to follow that up with people who can support the brand promise at the individual level. Before you let go / furlough some workers who may not have all the digital skills, evaluate whether or not the skills they do have will give you a competitive advantage in the future...