{"id":2411,"date":"2018-11-04T12:23:55","date_gmt":"2018-11-04T12:23:55","guid":{"rendered":"http:\/\/mylessonslearned.co\/?p=2411"},"modified":"2018-11-04T12:23:55","modified_gmt":"2018-11-04T12:23:55","slug":"personal-profitability","status":"publish","type":"post","link":"https:\/\/mylessonslearned.co\/?p=2411","title":{"rendered":"Personal Profitability"},"content":{"rendered":"<p>I&#8217;ve been working on a new presentation&#8230;as some of you know, I get invited to speak occasionally about My Lessons Learned. It&#8217;s always lots of fun with great questions.\u00a0 I started thinking about the thing I am most passionate about and have been practicing the last 25 years&#8230;and that&#8217;s what I&#8217;m calling Personal Profitability.<\/p>\n<p><!--more--><\/p>\n<p>The picture is one of the slides in my presentation. I call it The Lifetime Gross Income Continuum. Dramatic, huh?<\/p>\n<p>So the point of the graph is pretty simple: while you&#8217;re working, in most cases it&#8217;s manageable to keep up with your expenses. Sure, you might have setbacks like losing a job, or a divorce, but for the most part, you can adapt.<\/p>\n<p>The challenge happens when you retire&#8230;no longer generating work income. Besides not earning whatever you were earning (which is most likely the peak of your career), retirement is often not planned. A wise managing director once said to me &#8220;Grace, you will retire. It&#8217;s just a question of whether or not you&#8217;re deciding when, or the firm is.&#8221;<\/p>\n<p>So if it happens earlier than expected, you&#8217;ll need to switch to plan b. Optimally, you&#8217;ve been able to invest with income generating investments. Maybe you&#8217;ve reduced expenses enough that you&#8217;re covered. But in any case, you&#8217;ll need to be prepared:<\/p>\n<ul>\n<li>Retirement timing is unknown- unless you decide<\/li>\n<li>There will be a gap between your working income and your Investment Income<\/li>\n<li>Reducing expenses can shrink non work investment dependency<\/li>\n<li>Any remaining gap will need to be closed through liquidation of assets and\/or future income streams such as pensions, social security, or 401k after tax<\/li>\n<\/ul>\n<p>Let me be clear, I don&#8217;t make any recommendations on asset allocation: to me that&#8217;s a deeply personal choice because it depends on what you&#8217;re comfortable with. I know people who make millions of dollars a year\u00a0 who can&#8217;t sleep at night without a million dollars in their checking account. I know people at the age of 77 who still trade options. So it really depends on you.<\/p>\n<p>But regardless, it&#8217;s necessary to have a plan. To do the math and have contingencies&#8230;.upon contingencies.\u00a0 Time is on your side&#8230;until it&#8217;s not.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve been working on a new presentation&#8230;as some of you know, I get invited to speak occasionally about My Lessons Learned. It&#8217;s always lots of fun with great questions.\u00a0 I started thinking about the thing I am most passionate about and have been practicing the last 25 years&#8230;and that&#8217;s what I&#8217;m calling Personal Profitability.<\/p>\n","protected":false},"author":1,"featured_media":2413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16],"tags":[],"class_list":["post-2411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-happiness"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Personal Profitability - My Lessons Learned<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mylessonslearned.co\/?p=2411\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Personal Profitability - My Lessons Learned\" \/>\n<meta property=\"og:description\" content=\"I&#8217;ve been working on a new presentation&#8230;as some of you know, I get invited to speak occasionally about My Lessons Learned. It&#8217;s always lots of fun with great questions.\u00a0 I started thinking about the thing I am most passionate about and have been practicing the last 25 years&#8230;and that&#8217;s what I&#8217;m calling Personal Profitability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mylessonslearned.co\/?p=2411\" \/>\n<meta property=\"og:site_name\" content=\"My Lessons Learned\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-04T12:23:55+00:00\" \/>\n<meta name=\"author\" content=\"Mylessonslearned.co\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mylessonslearned.co\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411\"},\"author\":{\"name\":\"Mylessonslearned.co\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/#\\\/schema\\\/person\\\/eb1c7092243063c426cc3a3d2063da4b\"},\"headline\":\"Personal Profitability\",\"datePublished\":\"2018-11-04T12:23:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411\"},\"wordCount\":387,\"image\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mylessonslearned.co\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/lifetime-pdf.jpg\",\"articleSection\":[\"Happiness\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411\",\"url\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411\",\"name\":\"Personal Profitability - My Lessons Learned\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mylessonslearned.co\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/lifetime-pdf.jpg\",\"datePublished\":\"2018-11-04T12:23:55+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/#\\\/schema\\\/person\\\/eb1c7092243063c426cc3a3d2063da4b\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#primaryimage\",\"url\":\"https:\\\/\\\/mylessonslearned.co\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/lifetime-pdf.jpg\",\"contentUrl\":\"https:\\\/\\\/mylessonslearned.co\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/lifetime-pdf.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/?p=2411#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/mylessonslearned.co\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Personal Profitability\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/#website\",\"url\":\"https:\\\/\\\/mylessonslearned.co\\\/\",\"name\":\"My Lessons Learned\",\"description\":\"(and still learning)\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mylessonslearned.co\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/mylessonslearned.co\\\/#\\\/schema\\\/person\\\/eb1c7092243063c426cc3a3d2063da4b\",\"name\":\"Mylessonslearned.co\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g\",\"caption\":\"Mylessonslearned.co\"},\"url\":\"https:\\\/\\\/mylessonslearned.co\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Personal Profitability - My Lessons Learned","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mylessonslearned.co\/?p=2411","og_locale":"en_US","og_type":"article","og_title":"Personal Profitability - My Lessons Learned","og_description":"I&#8217;ve been working on a new presentation&#8230;as some of you know, I get invited to speak occasionally about My Lessons Learned. It&#8217;s always lots of fun with great questions.\u00a0 I started thinking about the thing I am most passionate about and have been practicing the last 25 years&#8230;and that&#8217;s what I&#8217;m calling Personal Profitability.","og_url":"https:\/\/mylessonslearned.co\/?p=2411","og_site_name":"My Lessons Learned","article_published_time":"2018-11-04T12:23:55+00:00","author":"Mylessonslearned.co","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mylessonslearned.co","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mylessonslearned.co\/?p=2411#article","isPartOf":{"@id":"https:\/\/mylessonslearned.co\/?p=2411"},"author":{"name":"Mylessonslearned.co","@id":"https:\/\/mylessonslearned.co\/#\/schema\/person\/eb1c7092243063c426cc3a3d2063da4b"},"headline":"Personal Profitability","datePublished":"2018-11-04T12:23:55+00:00","mainEntityOfPage":{"@id":"https:\/\/mylessonslearned.co\/?p=2411"},"wordCount":387,"image":{"@id":"https:\/\/mylessonslearned.co\/?p=2411#primaryimage"},"thumbnailUrl":"https:\/\/mylessonslearned.co\/wp-content\/uploads\/2018\/11\/lifetime-pdf.jpg","articleSection":["Happiness"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/mylessonslearned.co\/?p=2411","url":"https:\/\/mylessonslearned.co\/?p=2411","name":"Personal Profitability - My Lessons Learned","isPartOf":{"@id":"https:\/\/mylessonslearned.co\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mylessonslearned.co\/?p=2411#primaryimage"},"image":{"@id":"https:\/\/mylessonslearned.co\/?p=2411#primaryimage"},"thumbnailUrl":"https:\/\/mylessonslearned.co\/wp-content\/uploads\/2018\/11\/lifetime-pdf.jpg","datePublished":"2018-11-04T12:23:55+00:00","author":{"@id":"https:\/\/mylessonslearned.co\/#\/schema\/person\/eb1c7092243063c426cc3a3d2063da4b"},"breadcrumb":{"@id":"https:\/\/mylessonslearned.co\/?p=2411#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mylessonslearned.co\/?p=2411"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mylessonslearned.co\/?p=2411#primaryimage","url":"https:\/\/mylessonslearned.co\/wp-content\/uploads\/2018\/11\/lifetime-pdf.jpg","contentUrl":"https:\/\/mylessonslearned.co\/wp-content\/uploads\/2018\/11\/lifetime-pdf.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/mylessonslearned.co\/?p=2411#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mylessonslearned.co\/"},{"@type":"ListItem","position":2,"name":"Personal Profitability"}]},{"@type":"WebSite","@id":"https:\/\/mylessonslearned.co\/#website","url":"https:\/\/mylessonslearned.co\/","name":"My Lessons Learned","description":"(and still learning)","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mylessonslearned.co\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/mylessonslearned.co\/#\/schema\/person\/eb1c7092243063c426cc3a3d2063da4b","name":"Mylessonslearned.co","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f4eec5114c11cee3db7bfb9335855c39ac01b1166422a88fccbc56d5fbd2f339?s=96&d=mm&r=g","caption":"Mylessonslearned.co"},"url":"https:\/\/mylessonslearned.co\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5P6Ou-CT","jetpack_featured_media_url":"https:\/\/mylessonslearned.co\/wp-content\/uploads\/2018\/11\/lifetime-pdf.jpg","_links":{"self":[{"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/posts\/2411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2411"}],"version-history":[{"count":3,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/posts\/2411\/revisions"}],"predecessor-version":[{"id":2416,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/posts\/2411\/revisions\/2416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=\/wp\/v2\/media\/2413"}],"wp:attachment":[{"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mylessonslearned.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}