Encore Careers

Encore Careers

I am thrilled to be interviewing our two guests this month because I believe their shared wisdom will inspire you with specific steps to help you enjoy your life more and possibly allow you retire to something rather than from something.

On August 14, I will interview international best-selling author, Ernie Zelinski,  and we will discuss how one of his books inspired me to take the plunge to early retirement at just 48 years old.  My idea was to use my passions and unique abilities to create an all new career – coaching, speaking, and writing.

I interview top business consultant and best-selling author, Mary Ellen Tribby, on August 28. She will share specific ways you can turn your passions into income by creating an online business in what she calls the “Laptop Lifestyle.”

In addition, she is giving us her free report you can download called, Secrets to Living the Laptop Lifestyle:  How to Leave 9-5 Behind and Make More Money!

In my article this month, The New Retirement Solution, I share the stories of three women I’ve worked with who have reinvented retirement.

We’ve added a new column featuring movie reviews by our resident movie critic and author, Brent Marchant.  His reviews are based on the Law of Attraction and will give you a new perspective on movie watching.

And finally, we will be featuring a new book or e-book each month.  This month, we feature Lewis Schiff’s fabulous book, The First Habit.  His work is backed by intense research as well as interviews with over 1000 millionaires and billionaires.  I promise if you begin reading it, you won’t want to put it down because his wisdom is pure gold.  This book is also sold on Amazon, but he is making it free for our Smart Women Community!

Katana Abbott is a CERTIFIED FINANCIAL PLANNER™ professional and Certified Senior Advisor who began her financial planning career in 1987 with Ameriprise Financial Services.  Because of her personal experiences with financial abuse, death, disability, divorce, and caregiving, she teaches women how to take charge of their finances, create wealth and prepare for expected and unexpected life events. Katana is an inspirational speaker, author and the host of Smart Women Talk Radio with over a million subscribers. She is the founder of the Designated Caregiver® program and the Smart Women Companies.  She has been married to DSO French hornist, Mark Abbott, for over 30 years and they have two daughters.  To learn more and connect with Katana, visit her at www.KatanaAbbott.com

True Prosperity Is Living Easily and Happily Whether You Have Lots of Money or Not

True Prosperity Is Living Easily and Happily Whether You Have Lots of Money or Not

In an overly materialistic world, prosperity is unfortunately and invariably associated with hordes of money and countless possessions. Yet to the truly prosperous people of this world, prosperity is prosperity in its purest and original sense. Prosperity comes from the Latin word spes, which means “hope and vigor.” To the truly prosperous person, being prosperous means being positive and happy in the moment.

Clearly, true prosperity is living easily and happily whether you have lots of money or not. I have had the fortune of being on both sides of the fence. I have been broke, over $30,000 in debt, and have had to borrow money to pay the rent. At one time I even had the sobering experience of sleeping in my car for two cold winter nights when the temperature was -21º F. Extremely cold, of course, but this is still far from the bottom. As Mike Todd said, “I’ve never been poor, only broke. Being poor is a state of mind. Being broke is a temporary situation.”

Many years later I am fortunate enough to have a good income, spending substantially less money than I earn and investing a nice surplus each year. Having been broke on more than one occasion makes me a lot more grateful for the fine financial position I enjoy today. Yet I often felt just as prosperous — even more prosperous at certain times — when I was broke as I do today.

For instance, the year I wrote my international bestseller The Joy of Not Working I was in debt big time, but I was filled with hope and vigor, the true feeling of prosperity. I told a few people that the book “may just make me a million dollars.” For the record, to date the book has earned me about half that amount and it still gives me a nice residual income whether I am awake or asleep. This would not have been possible if I hadn’t felt prosperous enough to take up writing and self-publishing when I had no savings and little income.

Spiritual leaders say that as a matter of course prosperity will come when you are pursuing the right things with your life. To feel truly prosperous, you may have to leave the corporate world for good simply because prosperity and freedom go hand in hand. For some people this means having to give up a substantial amount of their income, at least for a certain period of time.

Most people are too afraid to give up a secure job because they don’t think that they have what it takes to leave the corporate world. False beliefs about your limitations will hold you back from gaining freedom. No complaining and no victim stuff. Okay? The more loving your personality and the more love you have for life and your work, the more money you will attract and the more you will enjoy spending the money.

So, as long as you believe, without doubt, in your prosperity, then you will experience a world in which you are prosperous and free of money worries. Consciously worrying about money or being subconsciously motivated by the fear of running out of money hardly ever produces great wealth. Trust that you will always have enough money to get by, even if you quit your lousy job to pursue your dream career.

Indeed, your prosperity will grow to the extent that you do. Your feeling of prosperity may require that you overcome the fear of leaving a secure job for a less secure job, with less pay, but a lot more freedom. Fact is, feeling more prosperous doesn’t necessarily mean earning more money. Sometimes it means earning less money.

Contrary to popular belief, prosperity is an emotional state that has little to do with your wealth or the state of the economy. You can feel more prosperous in a one-room cottage than most wealthy people feel in a twenty-room mansion. Misers will hoard a lot of money and spendthrifts will spend whatever they have — you don’t have to do either to feel prosperous. You may have to give up your secure, high-paying corporate job, however — and grow spiritually in the process.

 

Ernie Zelinski is an international best-selling author who helps adventurous souls to live prosperous and free. He is also a prosperity life coach, professional speaker, and unconventional career expert.

Ernie has helped hundreds of thousands of individuals from all walks of life in their career transitions and retirement planning through his international best-selling and life-changing books such as The Joy of Not Working and How to Retire Happy, Wild, and Free. These two books together have sold a total of over 600,000 copies.

Ernie is an innovative ex-corporate worker who was blessed to have been fired from his job as a professional engineer over 20 years ago and to have leveraged his many years of struggles without a real job into a lifestyle of personal and financial freedom that is the envy of the corporate world.

Ernie has dedicated his life to helping individuals create a better work/life balance in their lives and to help them pursue their dream careers. To learn more about Ernie, visit www.erniezelinski.com

Self-Care Comes First: 100 Years of Health and Wealth

Self-Care Comes First: 100 Years of Health and Wealth

I’m so excited to be sharing this month’s e-zine with you!  For the last 30 years, I have been teaching women that prosperity is more than money; it includes health, wealth, and happiness.  You need all three to be truly prosperous.  With more women taking on leadership roles, running companies, running for office, and leading the charge for equal rights and equal pay, it’s so important to put ourselves first on that “To Do” list. 

Most of us are still maintaining traditional roles as the caregiver for children, grandchildren, parents, and even aging spouses, while volunteering in the community and taking care of our homes.  It can be very overwhelming, and as we heard from Maddy Dychtwald last month, it can take a huge toll on our finances.

According to the Merrill Lynch/Age Wave study, the combination of the wage gender gap and time off work to care for family can cost women over $1,000,000 in earnings during their careers.

We also learned from the study that women are outliving men, 2-1 by age 80, and that most centenarians are women.  This means that as women, we must save more than men, and we must take care of our health so we can enjoy our longer lives.

This month, I am so thrilled to be interviewing Florine Mark, President and CEO of The Weight Watchers Group, Inc, and Dr. Keesha Ewers, the Founder and Medical Director of the Academy for Integrative Medicine Coach Certification Program.  These women both walk their talk, and I’m thrilled they are sharing their wisdom with us on Smart Women Talk Radio!

Don’t miss Harvard-trained physician, Dr. Susan Sklar’s quiz and free e-book, The Hormone Solution:  Natural Methods to Reclaim Your Health, in our self-care tip of the month.  Dr. Sklar is brilliant and working on cutting-edge anti-aging, brain health, and longevity research in California.

I hope you enjoy this issue and share it with the other women in your life!

Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books.

She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. To learn more about Katana Abbott visit www.katanaabbott.com.

Use Your Past to Propel You Forward!

Use Your Past to Propel You Forward!

I believe we all have special gifts. We are here to fulfill our purpose, and regardless of where we come from,  we can accomplish great things in our lives.

I remember being asked to do a seminar for the Federal Reserve’s Money Smart Week many years ago called, “Smart Women Finish Rich.”  When I got up to speak, I looked out at 170 women known as the “Unbanked” (meaning they did not have a bank account), and I  wondered, How in the world will I ever reach these women?

From my introduction, they knew I was a successful financial advisor living on a lake in the suburbs.  How could they relate to me, or me to them?

It was then that I decided to tell my personal story for the first time.  I had never publicly shared this story, because I was embarrassed of it.  I looked around the conference center and saw my co-workers and the prominent attorney who invited me to speak in the back of the room.  I was scared to death, but I stepped through my fear shared this story …

My parents very poor when I was born. My father decided to reenlist in the Army to make ends meet. When I was just 6 years old, my father died in an accident, leaving my mother with three children under six. She was just 32.

Although my mother had used the military insurance to pay cash for a house, plus she received some income from the military and Social Security, she wanted a man to take care of her and her three children.

She found one at our church, but he was a monster. After nine years of living hell, she ended up homeless with breast cancer. You would think that I would have learned from that experience, but we often go back to the familiar. Guess what?  I ended up marrying my own monster.

Thank God, I was very strong, and through a series of synchronistic events, I was able to get out of that marriage within a year. It was a very challenging experience, but a good lesson that would help prepare me for my life’s purpose.

So how did I get from where I was then to where I am today?

At 20 years of age, I found a book called, Think and Grow Rich, by Napoleon Hill. I learned that “thoughts are things, that I could create any life I could imagine if I just had a vision, didn’t lose focus, and did whatever it took to succeed.”

Next, I found a mentor. I took classes, stepped out of my comfort zone again and again. Becoming a Certified Financial Advisor was a game-changer for me. I also met my husband of 30 years, we had children and together and created an amazing life. It wasn’t always easy. We made mistakes, but we learned from those mistakes. They were our greatest teachers.

What I know today is that everything that happened to me was perfect. I have no regrets.

Embrace your roots, your experiences, your lessons, and use them to propel you forward. And most of all, do whatever it takes to get smart about money so you can make a difference and live a life you love.

You may have to get uncomfortable, but with the right information and support, you can do it too! Get that support from our Smart Women Community! Take advantage of our experts interviews at Smart Women Talk Radio, explore our blogs and free resources, and schedule time to take my free course, Unlock Your Financial Power. Behind every successful woman is a tribe of successful women who have her back. That’s Smart Women’s Empowerment. Sign up today!

 

Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books.

She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. To learn more about Katana Abbott visit www.katanaabbott.com.

Thinking Big about Money

Thinking Big about Money

Our theme this month is Thinking Big About Money, and I’m thrilled to be interviewing international speaker and author, Maddy Dychtwald of Age Wave, about a year-long study she and her organization conducted with Merrill Lynch on women and money.  The results have been published in a 28-page report called, Women & Financial Wellness:  Beyond the Bottom Line.  Maddy and I will be exploring the results of this ground-breaking report on Smart Women Talk Radio, Tuesday, June 12.   

Don’t miss Maddy’s article, Why Women Feel They Will Run Out of Money. It includes some information that may astound you.  Because of our responsibilities and choices we make as women, many of us end up earning $1,000,000 less than men during our lifetime.  Maddy is a returning guest, and we are thrilled she is joining us during this important time of women’s global empowerment.

Business expert and author, Lewis Schiff, is also returning to Smart Women Talk Radio on June 26 to share the new work he is doing with millionaires and billionaires.  In his book Business Brilliant:  Surprising Lessons from the Greatest Self-Made Business Icons, Lewis shatters common myths about wealth as he explains how legendary entrepreneurs such as Richard Branson, Suze Orman, Steve Jobs, and Warren Buffet have subscribed to a set of priorities that are completely different from those of the middle class.  During the show, Lewis will share some of these differences and tips that you can implement immediately for your business.

Does talking about money or ways to get rich make you uncomfortable?  Chances are it does, and if so, you are not alone!  According the Age Wave/Merrill Lynch study mentioned above, “There is a social taboo around talking about money that adds to the lack of confidence. Sixty-one percent of women would rather talk about their own death than money. And 45% of women say they do not have a financial role model.”

This is astounding, but the good news is that women simply approach money differently than men.  According to a Private Client Advisor at U.S. Trust, “Women make more values-based decisions for themselves and their families, rather than just going for the bottom line.  When you bring values into the conversation, it makes all the difference.”

In my article, Use Your Past to Propel You Forward, I share my personal story and how I took adversity and turned it into abundance. There is no magic wand. However, with the right direction and support, you can take charge of your life, your finances and your happiness. Isn’t it time YOU begin to think BIG about money?

Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books.

She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. To learn more about Katana Abbott visit www.katanaabbott.com.

Why Women Fear They Will Run Out of Money

Why Women Fear They Will Run Out of Money

If you’re a woman, odds are you’re going to live longer than the average man. Life expectancy has skyrocketed over the past century for everyone, going up, on average, 30 years—but women clearly hold the biological advantage when it comes to longevity.  By age 85, women outnumber men 2 to 1, and most centenarians (81%) are women, according to the U.S. Census Bureau’s population estimates.

So how do women feel about the prospect of a 100-year life–and are they prepared to fund it?

My firm, Age Wave, together with Merrill Lynch, recently conducted a nationwide study  “Women and Financial Wellness: Beyond the Bottom Line” to learn about the challenges women grapple with when it comes to money and investing, especially in light of their longer lives.

What did we learn? Women aren’t afraid to live longer, but they are afraid of running out of money along the way.

Over half the women we surveyed (64%), said they’d like to live to 100 but fear they will run out of money if they do live that long. Not only did women say they fear running out of money for their one-hundred-year life, 42% say they are afraid they’ll run out of money by age 80.

That’s a real problem, since the average life expectancy for a woman is already age 81.

Because they tend to outlive men and—if they marry—tend to marry men who are a few years older, the majority of women find themselves single and needing to be financially self-reliant in their later years. If they’ve been a caregiver to their spouse, they’ve often spent down their nest egg in the process of providing that care. These extra years can come with a heavy price tag—women’s average out-of-pocket retirement health-care and long-term-care expenses are a whopping $194,000 more than men’s.

When we asked women, “How far into the future have you planned for financially?” the findings were alarming–and clearly showed that women need to start making their financial lives a priority. One in four women say they have not planned at all for their future.

Meanwhile,  63% of women ages 18-29 say financial planning is too difficult to even think about, yet 84% anticipate they will be even more responsible for paying for their own retirement than their parents, according to our study.

Women told us their No. 1 financial regret is not having invested more of their money. But, it’s important to note that the women who did invest, most (77%) report feeling that they will be able to save enough money to last them their lifetime.

But there was one missing ingredient: Confidence. In our survey, women said they were confident—equally confident as men—when it comes to all financial tasks but one. You guessed it: investing. Just half of women (52%) said they feel confident in managing investments vs. 68% of men.

The message is unmistakable: Everybody, but women in particular, need to make it a priority to fund their future needs. The easiest way to do this is automatically through their company 401(k). If that isn’t available, they must create their own “future fund” for their 100-year self and put money into it regularly, even if it’s just a little bit to start.

In order to live long with financial wellness, everybody needs to take the long view, knowing they may live longer than they think.

 

Maddy Dychtwald is an internationally recognized author, entrepreneur, business advisor, and thought leader on how population aging, increasing longevity, and the ascent of women’s power are transforming the marketplace, the workplace, and our lives. She is regularly featured in prominent national media, including Bloomberg Businessweek, Forbes, Newsweek, Time, U.S. News & World Report, Fox Business News, CNBC, and NPR. She is an ongoing contributor to the Wall Street Journal’s Retirement Expert Panel where she had the top wealth-management expert post for 2017 based on reader traffic.

To learn more about Maddy, go to maddydychtwald.com

 

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