We jointly establish our purpose, although it does change. Always joint.longinvest wrote: ↑03 Aug 2017 14:19To get back on topic: In retirement, how does one adequately provides for purpose, respect, accomplishment, and authority?
Respect is an ongoing challenge. How often can you say it and still have credibility. Actions speak louder of course but both of us have total flexibility. After being a CEO, I think love is somewhat more important in the family. It engenders tolerance and mutual respect.
Accomplishment has to come from pride in the task. Results count but that can be subjective. We outsource what neither of us can tolerate.
Authority was already addressed by my earlier post. But the division is agreed upon. Because I have 100% authority for investments, I discuss them with her but she has a limited tolerance. I insist that the 11.2% annual return last year was weighed down by several decisions to have a tolerable risk, and outsourcing a portion to have an established relationship with an FA for when I pass.
Bear in mind that we have been at this for 14 years. So it has evolved. Feel free to poke and prod!