Are you somewhere north of 45 and still employed on a full time or part time basis… but worrying about how the coming years might pan out as your aspirations and situation changes?
Then a new book has just been published which can provide the guidance you need to navigate the future.
The book – “The Midlife Review: A guide to work, wealth and wellbeing” is written by Steve Butler, the CEO of employee benefits specialist Punter Southall Aspire, and Tony Watts OBE – a director of RetireEasy.co.uk and a long-established writer on later life issues.
The Midlife Review or ‘MOT” has been steadily been gaining traction in the last few years, and the Government has put its weight behind it as it sees it as a way to ensure older people make the very most of their later working life – and ensure they leave with enough money saved to lead a comfortable retirement.
Writes Tony Watts: “We’ve tried to make this THE definitive guide on the Midlife Review – so we look at the evolution of the concept, changing demographics and the need for employers to harness the skills and experience of older workers as the number younger ones entering the workforce slows down.
“Then we provide practical approaches on how a review (or a series of reviews) can help employees plan the rest of their career, achieve a better work/life balance and still ensure they have enough saved for a comfortable retirement.
Determining just how much you need to save in order retire comfortably is the first element of the review – and for those with a RetireEasy LifePlan, that part of the journey is simplicity itself.
“In the book we’ve interviewed some leading luminaries to provide their perspective and experiences – including experts from Aviva, the Centre for Ageing Better and L&G.
“Each of the key aspects of planning ahead – wealth, wellbeing and work – are explored in depth – and we hope this can act as a springboard for SMEs to adopt the concept, following the lead of some major corporates like Aviva now taking up the baton.”
In Steve’s words: “The prospect of working for fifty to sixty years will make it more difficult to stay on one career trajectory and it is only natural that people will want to stop, re-evaluate, and take time out to pursue other interests or explore other avenues. But this throws up challenges. How will people negotiate changes with their employer or go about finding a new job after retraining in their forties or fifties, and how are they going to finance the years ahead if they are going to work less, retrain or return to study?
“At the same time, employers will need to prepare for an exodus of talent and experience, just as the pipeline of younger people coming through dwindles, and decide if recruitment strategies should change if it becomes normal for people in their forties and fifties to temporarily ‘drop out’, wind down or retrain.
“This book is an attempt to address these questions and issues from the perspective of both employee and employer, and uses the concept of a ‘Midlife Review’ or Midlife MOT as the conscious mechanism to stimulate a conversation between employers and their personnel to find flexible ‘win-win’ solutions.”
The Midlife Review, a guide to work, wealth and wellbeing by Steve Butler and Tony Watts is available here: https://www.amazon.in/Midlife-Review-guide-wealth-wellbeing/dp/1781334609