Blog Archives

Extend Your Productive Life

LWL 3D 2019

With the upcoming release of my new book, I’m updating and relaunching my earlier books. The first is ‘Live Work Love: #Add10QualityYears’.

The book is available now on Amazon, down to $1 for a limited time at http://bit.ly/LiveWorkLove . 

Our longevity, health and quality of life are due 30% to genetic luck and 70% to our choices and behaviours. We’re dealt some cards and this book is about how to play the best hand, given those cards we’ve been dealt. No one wants to live forever but most of us would like to get the most out of whatever we’ve got coming. The vast majority of us would like to keep on going until we don’t, not taper off to a long unhealthy tail-end of life. Regardless of how long we have, how do we stay healthier longer, optimise our happiness and make it all worthwhile?

Reviewing and summarising much of the recent research on life expectancy, quality of life and personal productivity, this book then focuses on adding ten productive years to your work life. (Work in the broadest sense of the word.)

Currently, there is a lot of concern and uncertainty about living longer with less money, poorer health and disconnected people. The baby boomers are the most significant moneyed demographic and they’re greying at a pace. Now is a time of unparalleled affluence and longevity, yet we are faced with low quality-of-life issues driven by stress, obesity and unwise lifestyle choices. Forget waiting for that illusive magic blue pill or silver bullet when we can do a few little things every day that add up to a massive high-quality chunk of extra life that funds itself.

The book provides 12 controls for people to nudge their lives towards a better direction by influencing our physical, mental and social lives.

_____

The book is available now on Amazon, down to $1 for a limited time at http://bit.ly/LiveWorkLove . 

When It Comes To Retirement Savings, Are We A Bunch Of Marshmallows?

white_marshmallows

There was a classic longitudinal study conducted by Stanford psychologist Walter Mischel. It involved pre-school children and marshmallows. Individual children in a room were offered a marshmallow but, if they waited until the researcher returned after a short (but unspecified) time out of the room, they would get TWO marshmallows. The kids consistently responded in one of three ways: They took the one marshmallow instantly; they waited until the researcher returned and got their two marshmallows; or they waited as long as they could but ended up succumbing to the solo marshmallow on offer. Crudely, the kids were either ‘grabbers’ or ‘deferrers.’

Hey that’s interesting but so what? Mischel continued to follow the progress of the kids for the next forty years. On every measure of success, the deffering children went on to do better than the grabbing children – financially, academically, relationships, health, happiness. Deferred gratification is an aspect of impulse control which Daniel Goleman identified as a pillar of emotional intelligence. Maybe you started out thinking about whether your own kids are grabbers or deferrers but now you’re thinking back to your own childhood… How you doin’!?

Mischel studied individuals, not societies or nations, but I have a nagging and a gnawing that we kiwis are a nation of grabbers and that’s reflected in our diminished and diminishing returns.

This concept of deferred gratification has its largest observable tangible manifestation in retirement savings. You have to wait a very long time for your marshmallows. (If you’ve lost your teeth, you’ll still be able to eat marshmallows!)

It’s not just grassroots kiwis having problems with their long-term financial behaviour. A UK study showed that of employees eligible for schemes entirely funded by employers (ie free money), where the only onus on the employee was that they proactively acted to enrol, only 51% enrolled. Wow. In their book ‘Nudge’, Richard Thaler and Cass Sunstein write about their own employer’s retirement savings scheme at the University of Chicago. Bear in mind that all these people are professors and such. (There may even have been rocket scientists.) Some two-thirds of academics approaching retirement still had their mothers as the primary beneficiary of their insurance. Before we laugh at the mad professors, go look up how many kiwisavers never shift from those default providers!

It has been suggested that a seventh default provider be set up to be managed by the ‘Guardians of the New Zealand Superannuation Fund.’ Guardians? I think this group sounds like it includes Green Lantern, Thor and Iron Man (though, hopefully, not Captain America.)

Is it laziness or human nature? I just visited the ‘Sorted’ website. It asked me for my year of birth via a drop down menu that defaulted to 1910! It took me four clicks to get to 1966. (Hey, that’s a lot of work for my forty-five-year-old wrists.) Maybe the default should be the average year of birth of those who visit their site? I’m guessing those born in 1910 aren’t surfing the web for superannuation options. Frankly, at that age, I don’t think I want to know what they are looking for on the internet.

Politicians can, and will, continue to tinker with schemes. We can blame them for that but New Zealand is a representative democracy and when it comes to mucking around and not collecting nuts like good little squirrels, it’s sad to say that they probably are accurately representing us. They’re grabbers and so are we. So, tinkering with entitlement ages and employer contribution levels that get traded off with lower wage rises and so on isn’t ever going to provide a long-term meaningful solution. Never. It requires a societal attitudinal change and, as Mischel proved, it all starts with the children. (Oh God, won’t someone please think of the children!) You remember the children, the ones who as adults won’t be able to afford houses, yet we’re relying on them to fund both our debts and our retirement income through their taxes.

The good news is that being a grabber or a deferrer isn’t something you’re born and stuck with (like your height or being from Hamilton.) Mischel with Albert Bandura proved that deferring was a set of learnable skills. Will power, it seems, is skill power. So, let’s set up the schools to teach and model delayed gratification behaviours for the sake of the future of our country’s very existence. After all, if there’s anyone who has extensive experience of not getting what they want for prolonged periods of time, its teachers!

 

###END###

 

 

Debriefing: A Powerful Problem-Solving Tool (For the Whole Family)

debrief

This HBR article about debriefing is one I wish I’d written. (From meglomaniacal me, that’s high praise.) I’m often directing participants in my training workshops to conduct debriefs. I tend to use experiential models a lot. For non-trainers (muggles?), that means we do things, then learn from them in a structured way. I favour a 3-phased approach FAD, repeated over and over:

  1. Frame the activity
  2. Activity
  3. Debrief the activity

I hear a lot of people using the word ‘debrief’ and its meaning seems to vary wildly. In that sense, the word ‘debrief’ is much like the word ‘spicy’ or the word ‘love.’ I try to consistently  summarise the meaning of it in my workshops, not just because we’ll use it in the workshops but because it’s one of the most useful things you’ll ever learn in life, not just for work, but for situations where things happen and you’d benefit from learning afterwards. That applies a lot outside work (hopefully.) Relationships and families could well do with that skill. It’d certainly give us something to talk about over compulsory Sunday night family dinners.

To do something and to deliberately learn from it is what successful people do. That might even be a great definition of what success is. To do something and maybe learn from it or not learn from it is what most people do most of the time. Don’t be most people. They’re nice enough but…

The HBR article gives a great structure if you want to either learn debriefing yourself or communicate it to others:

  1. Schedule a regular time and place (ie make debriefing part of the way things are done around here!)
  2. Create a learning environment
  3. Review 4 key questions: What were we trying to accomplish?; Where did we hit or miss our objectives?; What caused our results?; What should we stop / start / continue doing?
  4. Codify lessons learned (People after us will learn from our mistakes, not theirs.)

 

%d bloggers like this: