Let the Rolling Stones guide your path through retirement
The iconic Rolling Stones will soon begin their “No Filter” U.S. summer concert tour led by 75-year-old lead singer Mick Jagger. It’s somewhat amazing since he just had heart surgery in early April. His quick recovery is a testament to both medical technology and his personal drive.
I don’t believe any of his band mates are joining him on tour just for the money. It’s estimated that Jagger’s net worth is around $300 million, and the rest of the band members aren’t too far behind.
The band also has a reputation for being a good employer. After all, it takes a lot of people to move the equipment from city to city, set it up, tear it down and manage their day-to-day activities. The band is not just a band; the Rolling Stones are also a business.
I personally don’t know any of the band members, but I believe one of their key motivators is simply that they enjoy performing their music.
The closer I get to retirement, the more I understand that many people are driven by more than just the money. If you go to work just for the money, you have a job. If you enjoy what you do and you’re passionate about it, I don’t consider it to be a job. What you have then is a career.
Athletes are an obvious exception, but I think most people can enjoy their careers well into their 70s and even into their 80s, provided, of course, they remain mentally sharp and physically sound.
I believe this trend will continue; that many people will remain active in their chosen field because they can and because they truly enjoy what they do. The money may be nice, but many successful people could go home tonight and never have to worry about finances. Money is clearly not their driving factor.
Another reason I bring up the Rolling Stones in a business column is the nature of their “No Filter” tour sponsor. It isn’t a tobacco company as the tour name might suggest. Nor is it a beverage company or any other brand or sponsor you might typically associate with a rock band.
The sole sponsor is The Alliance for Lifetime Income. In a nutshell, the Alliance is an organization funded by insurance companies that helps people understand the importance of having reliable, predictable income during retirement, regardless of whether the markets are up, down or stagnant.
My understanding is that there will be some kind of interactive computer driven program at each concert. The program will enable attendees to determine if they’re on track to have adequate income when they decide to retire.
That means you can buy a souvenir T-shirt and get a jump on your retirement planning in just one evening, all the while moving like Jagger and enjoying a Rolling Stones concert! Imagine!
According to The Alliance for Lifetime Income, “the Alliance is bringing its message of protected lifetime income from annuities to millions of fans-sometimes you can’t always get what you want…but you can get what you need when you have protected lifetime income in retirement.”
Unfortunately, the tour doesn’t stop in the Detroit area this year. But they are playing in Chicago in just two days. I’m giving it some thought. How about you?
