Over-50

Those Retirement/Semiretirement Experts on MarketWatch - Mere Speculation

Human beings crave certainty.

But the aging have to shake off that longing, at least when it comes to retirement and semiretirement. The reality is this: With all the new variables impinging on aging per se and the nature of work, no one can predict how anything, never mind everything, will play out.

For instance, just factor in climate change. Those planning to relocate to Alabama or Louisiana should go back to the drawing board. That's a new variable.

Also, there is increased longevity. Trying to make money last until the age of 100 is not unthinkable. 

And, how about COVID-19 and other emerging threats to physical and mental health? A budget might have to stretch beyond Medicare and its supplements. 

What I advise those over-50 is this: Spread the risk, on all fronts.

Instead of relocating to some exotic dream location, select one in which you already know you can adjust to - and probably afford for the rest of your life.

When forced off your career track, still keep working, at just about anything which brings in income. When not working, skills atrophy. Confidence about the ability to make a buck plummets. Employers pick up that "you haven't worked for a while." Here, a free read for you, is my book on finding, holding and moving on to better work, no matter what your age is  Download Outwitting ageism.

Downsize expenses, even before you have to. Never count on the money being there. Even the monthly Social Security payment can be cut. Medicare could go poof or become more limited in its coverage. The stock market, as is happening now, could put you on a scary roller-coaster ride.

Try to renegotiate your relationship with your spouse - if it's soured. Divorce often results in huge financial losses. 

Veer away from taking on your children's problems. That's bad for your health and pocketbook. Also, you're denying them the opportunity to learn from adversity.

Prevent isolation, which can trigger lousy decision-making. Reach out to new social groups. Old friendships tend to peter out. Folks on your networks die. Family resentments fester. Incidentally, a part-time job is a wonderful setting for social outreach.

The good news is that what you have to look forward to is peace of mind. In your 8th decade, usually those nagging regrets stop. You accept your life for what it has been. You like yourself unconditionally. You allow others to go about their own little lives, w/o your advice. Yes, there is such a phenomenon of The Late Bloomer. That could be you.

The Future of Work is now. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)

It's Always the Coverup - Will That Allegation Do In (temporarily) Goldman Sachs, Weil Gotshal & Mangas?

"Top lawyers at elite global financial firm Goldman Sachs attempted to coverup allegations of sexual misconduct in the workplace committed by the bank’s global head of litigation, according to a lawsuit filed Monday with the New York State Supreme Court." - Colin Kalmbacher, Law & Crime, October 26, 2020

In that lawsuit - "Maria Crawford v. the Goldman Sachs Group" - the story is the alleged coverup. In the complaint, plaintiff Crawford contends that General Counsel Karen Seymour parachuted in elite law firm Weil Gotshal & Mangas to conduct a bogus investigation. It was about the alleged sexual harassment by Global Head of Litigation Darrell Cafasso. 

The other parts of the lawsuit - that is, alleged sexual misconduct and retaliation - are old hat. How many times have we been around that bend ...

If the coverup can be proved, then both Goldman Sachs and Weil Gotshal & Mangas are in trouble. There is a saying that goes back to Watergate: It's always the coverup. Smart players don't even try that. They let the cards fall and go on from there.

The allegation that a law firm actually compromised an investigation shakes to the core trust in how all law firms conduct investigations. Those have been a significant revenue source. What could happen is that investigations are assigned to more credible nonprofits or a media organization. That narrow niche business will be yanked from the law-firm industry.

Meanwhile, expect heads to roll at Goldman Sachs. This is the second scandal in a short time. The earlier one had been its role in 1MDB. Also anticipate its looping in an official Mr. or Ms. Clean. Then business at Goldman Sachs should settle into a new normal. That's the way it goes. 

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The Aging Megyn Kelly - Struggle to Put Together The Comeback

Sure, this mandate from California's Governor Gavin Newsom could make it to "SNL."

But already, knocked from the entertainment box (and former law firm Jones Day associate) Megyn Kelly is leveraging it as a platform for a comeback. Daily Mail features her vilification of those orders for how the residents of CA have to spend their Thanksgiving. 

Among the rules are:

• Dinner be outside (yes, you can go inside to use the bathroom but only if it has been sanitized)
• Guests limited to 3 households
• People must sit 6 feet apart
• Masks are a must, except when eating
• Duration of dinner not to exceed 2 hours.

No surprise, Kelly, who is operating her own podcast media, ridicules it. As if she couldn't find a more seminal issue. Her tragic flaw is that she can't engage, at least not beyond the brittle Fox News politico persona. And, I have a hunch she won't have much of sustained reach with this podcasting one. 

What's obvious is that the warm and fuzzy type of Normal Rockwell Thanksgiving isn't welcome in CA. Since that state is a trendsetter, Newsom's model can catch on.

So, there the nation will be, at the McDonald's drive-thru each person ordering up 2 turkey burgers, double french fries, small green salad, a sugary beverage and chocolate chip cookies.

And we can enjoy a good belly laugh as we share our horn of plenty with two other households outside in a Midwest winter. Things, as we head into the Winter of COVID-19, maybe won't get better than that. 

Meanwhile, Kelly might be betting her promotional chips on something we are too exhausted to care about. 

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Own It: "At Your Age" Your Abusive Childhood Is Still Getting You in Lots of Trouble (but, help is on the way)

The confluence of COVID-19 and a dicey economy is unleashing a tsunami of raw rage. That could reach from the client biting your head off to the murder down the block to parts of city going up in flames. 

But even in more tame times rage has cost society much. Also, individuals have lost their freedom. Jails and prison are packed with those who let their rage run its course.

In addition, my hunch is that frequently professionals with an abundance of potential get stuck because of rage under their internal floorboard.

Obviously, those anger management courses haven't been effective in reducing rage. 

However, help could be coming from a surprising source. That's Marlon Brandon. Last year, a new Brando biography- "The Contender" - was published by William J. Mann. 

The total dynamic of rage, from its source to simple ways to push it down (as Brando thought about it), is made so clear. No one needs to take Psychology 101 or tune into Dr. Phil. 

Here's what you will get from "The Contender":

• Rage can take shape because of an abusive childhood. The trauma of that may never go away. So much for the platitudes of healing. REPEAT: If you were an abused child, as Brando had been, you can be embedded with the kind of emotional setpoint that results in your throwing a punch after what others consider a minor assault on your dignity. 

• Own the rage. Through years and years of therapy and meditation Brand accepted that there was that force within him that it was his responsibility to control it.

• It's possible to create a DIY in your head to prevent the rage from rushing up to the surface - and getting you in trouble. As Mann notes, Brando was admired but not widely liked or loved. The tactic to manage the rage is analogous to what some anger-management courses teach: Find the midpoint in that powerful feeling. That is between being a doormat and exploding. Place the emotion at that safe midpoint. Then, stop. Think.  

If you are part of the post-book generation, however, the 624 pages could be too formidable to even order from Amazon or check out from the public library (they are open again).

That's the rub in this amazing resource for rage management. The author is a professor. Likely he leveraged researching and publishing this tome as a needed credential for his academic career. No surprise, although it's well-done and an engrossing read, it only ranks in the 200,000s on Amazon. It should rank higher.

Those with no intention of plowing through "The Contender" can grab onto this takeaway: Admit your childhood was that bad. Recognize when rage is building up. Push it down. Hold that position.

According to Mann, Brando finally did achieve peace of mind. That's what he chased. Not fame. Not even to create great art through his acting. 

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What Virtual Meetings Are Doing to Your Brainwaves

"The [Microsoft] study found that remote collaboration is more mentally challenging than in-person collaboration ... [In addition] it was more difficult for them to work together in-person afterwards." - Jared Spataro, Corporate Vice President for Microsoft 365, "The Future of work - the good, the challenging & the unknown," July 8, 2020. 

Yes, those of you still operating remotely, those Zoom meetings are wearing you out - more than the in-person ones back at the brick and mortar office. Microsoft research proves out it's a legitimate pain point. The additional wrinkle on that is the finding that given how virtual work has reconfigured your brainwaves, you will struggle to adjust when back in the physical office. 

Given these findings, should your employers schedule fewer Zoom meetings? 

The knee-jerk reaction some of those I coach have is this: They are notified of a Zoom meeting and they experience a sense of panic. They anticipate they will feel undone post-meeting. That makes it more difficult to then do the tasks.

However, remote work will be standard, predict thought leaders in The Future of Work niche. Businesses have to figure out how to do that right. 

The Future of Work. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)

Your Retirement Date Might Be Pushed Up to 61 or 62

"Most retirees said they quit working for reasons outside their control, such as a surprise job loss or health issues." - Russ Wiles, Arizona Republic, October 19, 2020.  

The fallout from COVID-19 has increased the odds that you will be forced into early retirement. The confluence of rampant ageism per se and the pandemic-generated job losses has lowered the retirement age to about 61 or 62. 

That means that if you are still employed you have to prepare emotionally, socially and financially for exiting your career.

If you are already unemployed you have to embrace the reality that your career is probably over. Sure, you can find work, maybe even in your own field. But the big money, status and brand identity are probably over.

There are two big pieces to this reality.

One is the difficulty of wrapping your head about this ending. In America, we are our careers. Give yourself time to grieve and to let go. Yes, be gentle with yourself. A useful read is executive coach Henry Cloud's "Necessary Endings." He doesn't underestimate what a brutal rite of passage transition can be.

The second is the money part. Reducing fixed costs and pulling back on discretionary spending usually are not enough. The odds are you will still have to bring in income. Here, a free read, is my book on landing, holding and moving on to better work, no matter your age or what's happening in the economy Download Outwitting ageism.

It's magical thinking to wait for some government entity or nonprofit to parachute in and "save" you from the challenges of redefining yourself and your lifestyle post-60. Essentially the burden is on you to put together a fresh platform for your identity and earning power.

The Future of Work. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)

Make Your Past Work for You

The past is a known - unlike these very uncertain current times. 

Also, the mind tends to sort through that memory bank and select out happy moments. An example might be trying out Coca-Cola's new product introduction - Tab. It might have been with young friends. Ah, youth.

No surprise, across Americana, there is mourning for the disappearance of Tab from our lives. BusinessInsider reports that announcement from Coca-Cola triggered widespread nostalgia.

That collective feeling reflects the nation's current return to heavy-duty nostalgia. 

Yes, the market for reaching back to what seemed a golden age (or at least lots better than 2020) is a growth one. 

Businesses which can embed them in their product/service offerings can thrive. 

Entrepreneurs can create whole new lines based on the nostalgia meme. 

Marketers and public relations representatives can leverage nostalgia into the messaging for clients. The iconic way that had been done was in the Kodak Carousel campaign developed by Don Draper on "Mad Men."

Individuals can also cash in. One platform for networking can be to create and strengthen bonds through shared memories. Yes, that is perfect for commenting on LinkedIn Updates and Twitter. Baby Boomers from the counterculture would probably welcome circling back to that period of extreme optimism about reforming the system. Also, reaching back into history has become effective in your podcasts, blogs, YouTubes and speeches. Right now there is push-back on the notion that the past is passed. 

Trends come and they go. The nostalgia one is, of course, a use it or lose it. In the present it's a power tool for business in general and individual careers. 

The Future of Work. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)

Coming Wave of Jumbo Mergers Could Set Off Tsunami of Unemployment for Aging

Capitalism is opportunistic.

So, it should be expected that strong businesses during the COVID-19 economy will parachute in to acquire weakened ones. Goldman Sacks Group, reports Bloomberg, predicts a surge of M&A. Many of those will be jumbo mergers. 

That's good news for law firms with transactional practices in M&A. During the worst of COVID-19, that work has fallen off to the extent that lateral hiring for the niche plunged. Now, there are signs it's picking up.

Also gaining with be the economy. The reconfigured entities will be more solid businesses. Their earnings stories could send the stock market into unthinkable highs.

But the losers, as happens in most of M&As, will be large pockets of the workforce. M&As create "redundancies."

The newly created business may not need two communications or investor relations departments. There will be an increased need for coaching about career transitions Download ReimaginingYourCareerWithJaneGenova. Those most vulnerable are the aging. Here, a free read, is my book on landing, holding and moving on to better work, no matter one's age Download Outwitting ageism. 

For those who can't find their way in the mutating labor market, policy makers will have to focus seriously on versions of Universal Basic Income. Recently, in Canada, the Leaf pilot program testing out UBI for the newly homeless was very successful.

Right now the high jobless figures aren't having a negative effect on the stock market. Therefore those with power could blow off the unemployment from the M&A since their investment portfolio is doing just fine. 

Place your paid sponsored content on this blog. Here are 6 tips for search engine optimization (SEO) in 2020. Contact janegenova374@gmail.com.

"Fresh Start" - Smirk Smirk

One version of the American Dream is The Fresh Start.

But, is it possible?

The mistress in the Chris Watts's saga - Nichol Kessinger - has applied for a name change. Daily Mail reports she is seeking a whole new identity including relocation. The recent Netflix documentary had made her even more notorious than she had been.

Of course, from the get-go the court of public opinion judged her harshly for "not knowing" (doesn't a woman somehow always "know" something is fishy about the man who claims to be separated) Watts was married. At the time the wife was pregnant. There were two young children.

In addition there was the matter of Kessinger's internet searches. They include the how-tos of anal and threesome sex. 

Years ago it had been suggested that the infamous intern Monica Lewinsky change her name. And, move to Europe. But immediately what was brought was the old adage: Wherever you go, you bring yourself. At the time, it was obvious Lewinsky remained the the same person who had gotten herself into that mess with a U.S. President. More recently, the issue is: Has she changed? Or, has she only become more adept in personal branding?

Back to Kessinger. Her two years of being out of the public view but not out of the zone of public vilification may or may not have changed her. The odds, though, are against it.

Even in that transformational 12-step program Alcoholics Anonymous, there is recognition that often the most that could be hoped for is: The miscreant stops drinking. That stops the harm to society. Also, to himself or herself. And, that's about it. There is even the gallows humor: You can sober up the horse thieves but they will still continue to steal horses.

Yes, there is the second chance in America. But few are able to use that platform to become the person or the professional they can be. 

The Future of Work. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)

3 Critical Lessons for All Businesses and All Professionals

With a gentle tone (rare for that media outlet), Abovethelaw provides the statistical highlights of the downward trajectory of Hughes Hubbard & Reed.

Over the past five years or so, for example, PPP has nosedived from $2.145 million to $1.141 million. Lawyer headcount is down by 80.

Between the lines are key lessons for all businesses.

Among those lessons are:

Don't only pitch for The Big. Among its major clients had been Merck during the VIOXX litigation. Then, that run of litigation is over.

If the pipeline is empty of other BigCases, the firm could begin to wobble financially. If the stink of that is picked up, there will no new business. Partners will head out. Laterals can't be poached.

Lesson: Go after bread-and-butter business, even if it's relatively small and not high profile. Often those clients/customers will bring in larger projects. 

Diversify practice areas. There seemed to be too much expectation of revenue from product liability. In contrast, Paul, Weiss have nurtured a long list of practices in both transactional and litigation.

Lesson: Y0u must hedge. Everything changes. 

Have a sense of urgency. When there are even subtle signals of trouble, focus in. Then quickly execute the proposed incremental change or overhaul.

Management consultants Tom Peters and Robert Waterman Jr. hammered the need for rapid response in their iconic book "In Search of Excellence." In the early 1980s, the book became the bible for Corporate America. At the time it was facing, for the first time, formidable international competition. 

Lesson: Unlike what Mr. Rogers told you, you are not special. Neither is the firm you created. Anticipate trouble. 

The tragic flaws law firms develop (or are born with) mirror the demons within human beings. The latter experience a reversal of fortune for exactly the same reasons. Those range from only willing to play in the elite sandboxes to magical thinking that things will get better, on their own.

The Future of Work. Ghostwriting on those issues and coaching for job search, transition, personal branding, re-entry after recovery and reputation restoration. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)