Why
did you call the book Silver
Wolf?
I wanted to give men a different
perspective on themselves as
they reached their fifties.
Because of ageism, many in the
past got a beaten look, as they
were sent early into retirement,
and lost confidence in themselves.
I am suggesting that this is
a wrong and unnecessary attitude.
The truth is that men in their
fifties are probably reaching
their peak, and have powerful
years to come.
I chose Silver Wolf because,
if those in their Third Act
have one characteristic in common,
it is their silver hair. In
nature this silver hair is reflected
in the silver wolf, the alpha
male of animals, and I thought
that was a more relevant image
for those in this magic era.
What
do you want the readers of Silver
Wolf actually to do?
I want them to realise that
they are the luckiest generation
ever to reach their fifties,
and that they have 20 or more
years to enjoy a Third Act.
I want them to change their
attitude to ageing, and realise
that most of the myths about
getting older are simply not
true Their life is not ending
in a sad retirement; it is about
to begin again.
I want them to welcome this
social revolution, and make
a Grand Plan for this Third
Act of their life, in which
they make a new balance of their
life, part work, part learning,
and part fulfilment of their
dreams.
Why
should they want to do all that?
Because most people worked so
hard in their thirties and forties
that they rarely had time to
do the things they really wanted
to do. What I'm suggesting is
that, if they stop and take
stock of their lives in their
fifties, they could plan to
achieve their ambitions and
fulfil their dreams. This could
make them happier than ever
before, and that surely is what
most of us want to be.
I
understand the concept of the
Grand Plan, but how do I actually
begin to do it?
You begin it by setting out
all the things that you want
to do, and all the dreams you
want to fulfil, over your next
10-20 years; then you put them
in order of priority.
Next you work out your finances,
how much you have, how much
you need, how much you have
coming in later years, how much
you need to earn to make up
any deficit.
Then you start planning in five-year
segments, until you have your
Grand Plan, and know that it
is viable.
Give yourself six months to
finish it, so that you can put
the first draft away for a time,
and look at it fresh. You may
want to change the lot.
Finally, you show it to your
partner and anyone around you,
who will be affected by your
plan, and whose agreement and
understanding you need.
What
are these dreams that you hope
readers can fulfil in what you
call their Third Act?
Anything that they have long
wanted to do. Over the previous
30 years everyone has made sacrifices
to keep the money coming in
and the mortgage paid, but now
is the time for you to think
more of what you want to do.
What you want to be. What you
want to achieve. What you want
to do. What wishes you want
to make happen.
This is what I mean by dreams,
and they can be anything from
playing music to taking a helicopter
ride down the Grand Canyon,
from writing your first book
to learning to fly.
A
20-year Grand Plan sounds good,
but how do I know my money will
last?
That is why your Grand Plan
must have a serious money section.
Do an audit on your finances,
and you'll know if your money
should last or not. Then, if
the answer's No, you have to
decide what you can do about
it. Most people, who have carried
out this audit, have been shocked
by how much more money they
will need. Without a clear money
plan your dreams could be short-lived..
Do
you really believe we should
keep on working until we drop
and never retire?
No, and I never suggested that.
I do think we are social animals
and benefit from the association
with colleagues. I do suspect
that more and more of us will
need to carry on earning, as
our savings are not enough for
a longer life.
But I do not mean full time
work. What I have suggested
is that some work should be
just a part of the rebalance
that anyone in their Third Act
can make to their life.
Are
you living in the real world?
Most companies want to get rid
of people over 50, not take
them on.
Of course, you are right about
the past. But this is changing.
From October 2006, discrimination
on grounds of age became illegal,
and companies who continue to
do this will find themselves
in endless court cases.
Most major companies are already
planning to change their work
ethos to allow much more part-time
working. Even more are now convinced
that the older employee must
be retained, not found redundant.
It's a No Lose situation. Companies
need experienced men. People
need to do some work. The Government
needs more contributions to
their tax buckets.
Are
all the old myths of ageing
now found to be false?
Yes, most of them are, but not
all. Physically, we do deteriorate
and lose some 2% of our body
strength each year from about
50, and this is why exercising
the body becomes even more important..
Mentally, however, we lose little.
From the age of 30 onwards we
lose some 10,000 brain cells
a year. This used to horrify
people, but we now know that
we actually have 100,000,000
to start with, so, even by 70,
we have only lost 3%!
It was also once believed that,
with all those brain cells going,
we would inevitably become senile.
This is simply not true, but
this myth made employers unwilling
to let people work on.
Do
you really believe that the
Age Discrimination Act will
change everything?
Of course not. It will take
time, as it did in America.
But the change is in the air,
and most companies now acknowledge
that they need the more experienced
staff, and are changing their
structures to accommodate more
part-time working.
It may need some significant
legal court victories to get
the message home to some companies,
but ageism is now illegal, and
cannot continue.
It may take even longer for
social attitudes to change,
but, as with sexism and racism,
the barriers are now down.
But
isn't it true that the older
we get, the less we are capable
of being retrained?
No. It is one of the many myths
about age that we now know to
be false. People can be retrained
at any age; it is the way in
which we can best learn that
changes each decade. Just as
a person at 40 learns a different
way from someone at 20, so does
a person of 60.
But
it must be true that the older
we get, the more we are ill,
surely?
Again, not true. It may have
been true once, when most people
were not aware of the need to
stay fit, but it's not true
now. NHS figures show that the
30-50 generation has as much
illness as those of 50-70. There
isn't universal agreement on
this, but the fact that the
figures are close is enough
to show that no great bout of
illness suddenly arrives for
your Third Act.
Medical science has transformed
our quality of life, and enables
most of us to lead a normal
healthy life into our late seventies.
Medical advice has also changed
some of our habits, so that
today less people in this age
group have high blood pressure
and high cholesterol levels
than ever before.
Is
it too late to change any bad
eating and drinking habits?
No, it's never too late. It
makes no sense to ruin your
Grand Plan by being ill, so
the sooner you lose any bad
habits, the longer you'll live.
Most of us have eaten too much
fat-laden food, drunk too much
alcohol, and even smoked in
our youth, but you start to
be healthier the moment you
stop any of these habits.
You need to keep fit, exercise
your body, give it the food
it needs, not necessarily the
food you want. The old saying
that, if you look after your
body it will look after you,
applies even more in later years.
Are
you serious about needing to
change the way we look?
Half serious. It depends on
whether the way you look is
relevant to your new life. Until
ageism is really dead and buried,
looking old is not a plus, either
in the work place or socially.
If you feel it is not helping
you, then change the way you
look. You may want to check
your weight, your bearing, your
clothes, your glasses, your
face and hair. Only you can
know what changes you think
worth making.
Is
sex really so important?
Yes, if you believe doctors.
At its most basic, it's a good
way of getting some exercise;
at its best, it's the greatest
rejuvenation treatment, which
makes us look better, feel more
optimistic, and avoid heart
attacks.
If you believe the surveys,
sex is also rather better in
the Third Act than it was in
the previous 20 years. We have
learnt to do it rather less
selfishly; we take longer; and
we take it less seriously.
Should
people change homes in their
Third Act?
Not necessarily, but the decisions
you make on your home are basic
to your Grand Plan. Your property
is not just your home, but also
your largest potential source
of capital, by using it as collateral
for raising money from a lifetime
mortgage or equity release plan.
Does
a home in the sun make sense?
Totally, which is why half the
people over 50 consider buying
a second home in the sun. It
gives you a different environment,
a different way of life, lots
of Vitamin D, all at a much
lower price than in the UK.
On top of that, it has also
been a very good financial investment
for most owners.
Your home in the sun can be
a place for your holidays and
long weekends; an alternative
long-term investment, or a second
home where you can enjoy a different
life.
Is
equity release a wrong way of
raising money from the home?
No. I think that equity release
and interest-only lifetime mortgages
are products that will change
millions of people's later years.
They can free capital from your
home in a way never possible
to previous generations. I am
of the view that lifetime mortgages
of both kinds will revolutionise
the Third Act, though equity
release plans should not be
taken early.
Do
I have to save money for the
children?
No. It's your money and you
can use as much of it as you
need to make these years fulfilling.
The idea of leaving money to
the children is another 20th
century aberration. Before then,
the parent/child relationship
for thousands of years was simple.
You looked after them for their
first 20 years; they looked
after you for your last 20 years.
The new deal is slightly different.
They don't have to look after
your later years, but in return
you plan to use every bit of
your money that you need.
You need not feel any guilt
about this. However much you
mortgage your home, so long
as property prices continue
to double every decade, the
children will still inherit
a fortune. even though the government
will take 40% of whatever you
leave over £300,000.
Should
we lie about our age?
If it helps, Yes. So long as
the last traces of ageism remain,
you can always take 5-10 years
off your biological age, and
behave accordingly. Age is meaningless.
No one is only one age. Your
heart, body, lungs, mind and
face all have a different age.
Which age do you want to tell
the world?
Women have known for decades
that age is a private affair,
and male film stars followed.
Cary Grant's agency once received
a telegram from a journalist,
"How old Cary Grant?" They asked
him what they should reply.
He sent back a telegram, "Old
Cary Grant fine, how you?"
Why
do you call this book a guide
to the Third Act for men? Isn't
it a guide also for women?
Of course, I hope that most
of Silver Wolf is of equal interest
to women, and especially to
those with their own separate
careers. I called it a guide
for men, because, as a man,
I can relate more clearly to
the reader.
I have listened to many men
talking about this stage in
their lives; I think I have
an understanding of the way
they approach this turning point
in their careers. It may be
the same for women, but I don't
know that.
That is why I have tried to
stay focussed on the male attitude,
with the hope that most of the
chapters will also help any
women about to enter their Third
Act.
Last
question. Do I really have to
make a Grand Plan?
No, but I don't see why you
might not want to. Remember
that the reason for the Grand
Plan is threefold.
First, it lays out the life
that you have decided that you
want to have in the next 20
years, together with all those
things you wish to achieve.
Second, it ensures that you
will have enough funds to enjoy
those years without money worries.
Finally, it is an open plan
that you can show to your partner
and family, to obtain their
understanding and tacit approval
for what will inevitably be
a radical change of life.
The Grand Plan isn't some complicated,
amorphous document. It may be
ultimately about the fulfilling
of dreams, but it is essentially
a hard and practical set of
pages, which lay out the way
you want your life to be.
They are not etched in stone,
and you may adapt them over
the years, but they are what
you are about in your Third
Act, which you hope to make
the happiest years of your life.
Surely that is worth the creating
of your own Grand Plan?
Silver Wolf is published by
Delancey Press at £9.99
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