Retire Lucky - Retirement Innovation!

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The DIRE movement is created

He often touted the benefits of working for an employee-owned organization, and Daniele was sold.

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The couple never looked back. They soon married, purchased a home in Fullerton, Calif. Indeed, as members of the middle class, Daniele and Jesse are punching well above their weight in the retirement savings game, one that is heavily dominated by the wealthy. Illustrated by Figure 2, only 25 percent of people in the lowest income quartile have any savings at all, compared to about 90 percent for those in the top income quartile.

Yet as Daniele's story shows, there is a subsection of the population who work as employee owners and enjoy higher accessibility to retirement accounts.

My Experience Retiring Early

Perhaps just as importantly, these employees are also exposed to more information regarding these complex programs. Companies that are partially owned or percent owned as Proponent through an employee stock ownership program, hold frequent ESOP and retirement information sessions — organized and run by rank and file employees — at which workers can become proficient in retirement instruments generally, along with the specifics of their personal ESOP account. Daniele credits her familiarity with retirement instruments, such as ESOPs and k s, to hosting sessions like these.

Nevertheless, ESOPs have their risks. The most central of which is a lack of retirement portfolio diversification, as ESOP participants essentially invest in a single stock — the company for which they work.

When You Retire

To counter this, most ESOP plan documents stipulate that employee participants over 55 years of age can also invest company proceeds through an IRA, allowing a wide spectrum of investment opportunities. Companies such as Proponent, which have a fairly large percentage of long-term employees who started at Proponent soon after high school, have gone even further and provide their employees over 40 and with 20 years of service the opportunity to open an IRA and thereby keep all their eggs from accumulating in one basket. Above and beyond ESOP stock grants, many of these organizations also offer k s, providing multiple retirement options for all qualified employees, regardless of tenure.

With annual stock grants allocated to employee owner participants and risks that can be mitigated through k and IRA diversification, ESOPs can provide material retirement advantages for the average worker. As Daniele aptly sums up, "working for an ESOP company is one of the best things there is for your future.


It's all about longevity and working hard for the benefit of your company. In the end, the work you put in will benefit both your ESOP account and you. Toggle navigation. In other words, why are we stuck on the zero-sum proposition of work is bad and retirement is good?

How to Retire at 35 | Innovative Investing & Business Building Ideas

We desperately need to innovate the notion of retirement to catch up with the rest of the world. While planning for a third act is something that everyone should seriously consider, whatever his or her economic situation, as an entrepreneur you have that luxury in a way few people do. You get what it means to build a business and a brand. You are the ultimate authority on where and how to invest your time and energy. In the same way that you would invest in a new product or service, why not invest regularly in preparing for your third act?

But my point here is to start doing it any which way you can and as soon as possible. It takes as long to build a successful third act as it does a successful business, about five to 10 years. You likely have a good 30 to 50 years for your third act—perhaps even more! In a prior Inc. The bottom line is that the old rules were built for an economy and a society in which retirement was seen as a release from bondage—the liberating act from a lifetime of work. They were built for time when most work was manual and labor intensive, when brains were less valuable than brawn.

The new rules are for a world in which knowledge is the universal currency for creating value, a world in which you can use the experience of a lifetime to create what may well be the greatest experience of your life. Tom Koulopoulos is the author of 10 books and founder of the Delphi Group , a year-old Boston-based think tank and a past Inc. He tweets from tkspeaks. You must be logged in to post a comment. We get old when the weight of our memories and regrets starts to exceed that of our dreams.

When it to comes to the topic of retirement, the old rules no longer apply. The Retirement Myth The truth is that we are doing an enormous disservice to society by setting retirement as an end goal to a long career. This article was originally published on Inc.

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