Middle Age Revival--Why It´s Best That You Did Not Win the Lottery Jackpot by Roy Richards

By: Roy Richards

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Do you sometimes fantasize about winning a multi-million dollar Lottery jackpot then kicking back for a life of ease? Roy Richards, noted author, motivational speaker and consultant on mid-life renewal argues that you are fortunate not to have won such a prize. He further contends that any self-confident, inner-directed man or woman of middle age can accomplish a lottery winner´s mentality without first winning a dime!

Richards presents his argument as follows: "No one can gain lifelong satisfaction with the sole objective of accumulating wealth. The only true and lasting prize from winning life's financial lottery is the freedom to choose. Presuming a person remains healthy and of sound mind, financial independence grants that individual the license to pursue precisely those primary daily activities which he or she cherishes the most. A key issue confronting the independently wealthy is how well they choose."

In the late nineties, the co-founder of an Internet search-engine company became so wealthy that he decided to retire at age twenty-nine. This youthful retiree stated that he planned to dedicate the remainder of his life to playing golf. Can he sustain his enthusiasm for golf over the next forty years? Will his intended twelve thousand rounds prove optimal for wife and children? Do they create value for others? At age seventy-five, will this multi-millionaire look back with pride upon five productive years in his twenties followed by forty-six years of goofing off?

Astute men and women of middle-age recognize that lifelong contentment is not handed out from above like a year-end bonus or a stock option. True and lasting satisfaction is experienced only by those who routinely search for new horizons, develop latent talents and contribute meaningful time and energy to the welfare of others. Golf and sailing are fabulous hobbies but mature self-starters demand far more.

Our world is full of women and men who look, feel and behave like Lottery winners even though they have never won or inherited a dime. Like it or not, 95% of us cannot ignore the continuing need to earn a living. For us, the secret is to pursue a primary vocation which will compensate us for performing activities which we genuinely admire and enjoy. As a trade off, some may need to scale back lifestyle aspirations. The finest of possessions will never compensate for the daily stress or absolute monotony of an unfulfilling vocation.

It is useful to keep in mind that your ultimate life-long goal is not wealth accumulation per se but the sustainable peace of mind which results from genuine financial security. Personal wealth simply provides the freedom to choose. Once you identify the financial cushion you will need to accomplish realistic individual and family lifestyle objectives, you can begin building that cushion.

Do not set personal financial goals based upon what someone else has. Instead, establish your very own financial and emotional balance by resolving three personal issues:

"How do I most want to spend the remainder of my productive years?"

How much will others pay me for performing the vocation or primary daily activity of my dreams?" (Note: others might include employer, clients, customers, retirement benefits or the stock market.)

How much annual cash flow and wealth accumulation will our family require to sustain chosen lifestyle and to prepare for future contingencies?"

It is both ethical and realistic to demand and anticipate a challenging yet enjoyable adventure throughout the remainder of your productive years. Why shouldn't you enjoy waking up each workday morning? Why can´t you end each workweek on a high note, energized but not stressed out or worn down to the bone? Take time out now to envision an ideal career path which may or may not be your present vocation. What do you expect to earn from this ideal vocation over the next twenty years?

As a next step, plan out present and future family expenditure and wealth accumulation targets. Approximate and write down estimated annual cash flows required to achieve those targets. Now it is time to pose the five million dollar question: "Are cash flows anticipated from my targeted vocation, my spouse´s vocation and passive family income streams, if any, sufficient to pay for life´s necessities, establish a rainy-day fund and purchase those luxuries which we most earnestly desire?"

As a final step, you may need to stretch and bend vocational and lifestyle objectives. In selecting an actual target vocation, you must consider only those career paths where you can earn enough to pay the bills. The alternative is to scale back targeted expenditures in order to pursue the precise vocation of your dreams.

The final step in establishing a lottery winner´s mentality is to scope out an interim financial plan for your journey from present to future. Planning interim finances is perhaps the most challenging aspect of mid-life transition. Sound gap planning requires the iron resolve of Lance Armstrong and the unbiased objectivity of your bank´s commercial loan committee. Richards suggests a six-stage transition planning process as follows:

Lay out in detail every aspect of your targeted transition process (e.g., search for a new employer, new business start-up, return to school, early retirement.)

Anticipate number of months or years needed to complete your transition.

Estimate extraordinary transition costs including job search, advanced training or education, franchise or entry fee, cost of business purchase or anticipated start-up expenses.

Inventory cash and liquid assets on hand plus anticipated future funds flow available to finance transition. Potential future sources include spousal income, savings accounts, interest and dividend flows, severance pay or pension income from early retirement.

Determine the "gap" between anticipated cash inflows and the sum of family living expenses plus extraordinary transition costs identified in step 3.

Search for solutions to fund the transition gap. (This could include a home equity loan, temporary downsizing or liquidation of assets.)

To complete your preparations for launch, merge career and lifestyle targets with a realistic transition funding proposal and construct your very own coordinated one-to-three year plan of action. Once in place, you will be among those fortunate few who truly have internalized a lottery winner´s mentality.

A few years ago a middle-aged couple from West Virginia won a $318 million lottery jackpot. Richards states emphatically: "You may judge me crazy, but I really wouldn´t trade places." As rationale, he cites three common-sense maxims as old as human history but as fresh as the morning sun:

A reward most cherished is one fully earned, not one granted, won or inherited.

As we look back, our fondest memories most often are of the anticipation, planning and striving for a target rather than actual goal accomplishment.

Life absent clearly defined goals and inspiration for tomorrow is no life at all.

Before returning to your normal daily routine, take a few moments to infuse upon your consciousness two guiding principles:

"Yes I did win the lottery--emotionally. I have taken control of my life and have appointed myself CEO of me. I have absolutely no doubt that over time I will accomplish every single life objective truly important to me."

"I will make the difficult financial and emotional sacrifices up front. These short-term sacrifices will buy me a life-long lottery winner´s mentality! Once committed, I will pursue my dreams as though I had won the lottery!"

Next to good health and loving relationships, Richards places two treasures above all others: a life in financial balance and enjoyment of every aspect of daily living, including "work." The only vocation right for you is one which will reward you for having fun.

The greatest roadblock to pursuit of one´s dreams is a debilitating concern over paying next month´s bills. Astute planning and sacrifice in advance will help you establish and sustain the positive energy and self-reliance necessary to convert plans into reality. Over the next several days, weeks and months dedicate whatever time and energy is needed to build self-confidence and to visualize every aspect of a new-era of personal fulfillment precisely on your own terms.

Once a positive vision of the future is firmly entrenched in your mind, you will have accomplished a genuine lottery winner's mentality. You will be fully prepared to venture outside previous comfort zones to create your own breaks. Now, go for it!

The author of this article, Roy Richards, discusses a full range of career, lifestyle and relationship challenges and lays out a comprehensive step-by-step path to middle-age renewal in his new book, A Mid-Life Challenge Wake Up!. To contact Roy, preview his two books or to retain him as a motivational speaker, personal coach or consultant, please visit our web site:

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