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#129 – The Importance of Community with Jan Cullinane

A sense of belonging, support, and accountability; these benefits come with joining a community. In this episode of Retire Sooner, Wes sits down with Jan Cullinane, award-winning and best-selling author, speaker, and consultant to discuss just how important communities are.

Jan described what questions you can ask yourself regarding where you are in life. She also shares the five P’s for starting a business in retirement or otherwise, uncovers why strong social support is essential, and how the ability to renegotiate roles can be helpful in relationships. She addresses the importance of having a purpose in life and why women need to prepare to be in charge of their own financial decisions. To conclude, Wes and Jan talk through determining where to live in retirement, niche and non-traditional retirement lifestyles, and the psychology of money.

Watch the full episode!

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This information is provided to you as a resource for informational purposes only and is not to be viewed as investment advice or recommendations.  This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. This information is not intended to, and should not, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

Read Show Notes From This Episode (click to expand and read notes from the full interview)
    • Jan tells Wes about the turtles she saves in Florida. They do some rapid fire questions. Talk about favorite places to travel. Favorite place to travel in Michigan.Jan says ask yourself these questions: Do you have enough? Have you had enough? And, do you have enough to do?

      The 5 P’s for starting a business (in retirement or otherwise): Jan says you have to have a product people want, people to work, passion for it, persistence with it, and patience about it.

      Wes says the top 10 for him as a second career would be – being a general contractor. He’d also like to be a football coach – go take over a bad high school team. Be the first football coach who has never played football. Talks about a school in Atlanta that got rid of the football program during covid and he thought it would be so fun to go restore it.

      Wes asks Jan what she does for In N’ Out Burger.

      Jan talks about strong social support, the ability to renegotiate roles. (For couples, etc.) Once they retired, Jan admitted that she doesn’t like to cook. She’d rather cut the grass.

      Wes says if you have kids around you’re never treated like a high powered CEO, no matter what you do or did in your job.

      Jan brings up having a purpose.

      Jan brings up loving tennis. Wes asks about the study about tennis adding 9.7 years to life on average. Loves it.

      Wes asks Jan to talk about single women and the finances of that. She says if you’re a woman, chances are that you will be single at some point because of the typical life span. That means they’ll be responsible for making the financial decisions. A lot of women aren’t used to that.

      Single at heart. We’re finding out that a lot of people are happy being single.

      So women need to prepare for being in charge of financial decisions. They need a social component because being lonely can be equal to unhealthy habits like smoking cigarettes.

      Wes brings up the wanderlust of “wanting to live somewhere new.” He brings up wanting to live in Texas or California. Will he ever really do that anytime soon? Probably not. He’s got 4 kids but he does think about it. But that is tough, you then have to start over meeting good friends, etc. But Jan is saying don’t just do it without planning and thinking about it. If your kids live far away, will that work for you?

      They discuss the choice of where to live. For example, the “Villages” in Florida. Is that too much? What is it like there? Sometimes places like that have a really high average age. You can move in your 50s, but people age in place so sometimes the average age goes up into the 70s. Things can be a little clicky. It certainly does have amenities and activities. But also, be aware of the politics, now that that is so divisive.

      Niche retirement lifestyles. Non-traditional. Jan discusses these. Example, there NALCREST – a niche of people who spent time working for the postal service. Some people live on ships. It’s called “The World” – you buy a stateroom on a ship and live there. Very niche. Wes asks “Where in the world is ‘The World?’” It’s constantly on the move.

      The psychology of money. Wes asks Jan about this.

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