Publishing books since the early 90s, Jim Collins is a researcher, best-selling author, business consultant, entrepreneur and speaker that people listen to.
One of those people, of course, is me.
I was listening to a Carey Nieuwhof podcast the other day featuring guest Jim Collins. The conversation was loaded with useful insight, revelation, strategy and tips for business leaders.
You can listen to the episode here.
If you don't know who Carey Nieuwhof is, you should check him out if you're an entrepreneur, church planter or business leader of any kind.
Carey does a fabulous job of amalgamating the world of Christian leadership and business leadership, which are in essence two garments cut from the same cloth.
Many of Carey's guests are not Christians, as the conversations are geared toward leadership as a whole rather than specifically church planting and operational ministry.
So, don't worry, it never gets "preachy."
It's a great podcast.
During the conversation, Jim Collins remarked that at age 66, he considered himself as being in "mid-career."
For the record, he didn't say 66 would be mid-career for you. He was speaking about himself. But there's sure to be some overflow there, and some who will take it as a general idea. All in all, his words will influence others.
I love that Jim makes this claim for himself, but it's a big pill to swallow for most.
It's a bold statement, considering that if you live in the United States and are currently 67 or older, you're eligible for retirement benefits and social security.
Moreover, the consensus of what age qualifies as mid-career typically ranges from 35-45, with many people today leaning closer to 45-50. (But certainly not 66.)
In the corporate and entrepreneurial world, mid-career is generally defined as a time when people become established professionals in their field or industry with years of acquired skills and knowledge.
In short, people who are in mid-career are no longer accepting entry-level positions. (Not even as a joke.)
Beyond that, mid-career signifies a calm, balanced and secure career homeostasis where individuals can safely plan for and dream about their retirement within the next 20 years or so.
Interestingly, Jim Collins wants nothing to do with that defeatist ideology. And we agree with him.
While many people in career positions can't wait to salute their job with one finger, eat the last piece of their retirement party cake and jump on a plane to the Caribbean for an extended vacation, some business leaders, CEOs, entrepreneurs, writers and creatives can't imagine ever quitting their work.
This leads us to a great question.
Do You Have to Retire?
Retirement sounds good to some, but to others, it's a frightening thought. The idea of not doing something productive fills project-oriented and goal-driven people with a sense of anxiety or despair.
Now, that doesn't mean you can't retire from your day job at 67. It just means that when you retire you're going to be investing your time into creating something that you find valuable.
In other words, you're not working for THEM anymore, you're working for YOU.
Why would anyone want to just sit around and watch T.V. day in and day out? I couldn't imagine it. It's a terrifying and isolating thought for driven business owners, business leaders, the self-employed and people who love what they do.
If you love what you do, why would you ever want to stop?
Warren Buffett, the oldest living CEO (Berkshire Hathaway), is currently 94 years old.
While the average age of a CEO is 57, there are a growing number of Fortune 500 chief executive officers who are above the age of 65.
89 of them, to be exact.
According to the Madison Trust Company, as of last year, 238 of the Fortune 500 CEOs are above the age of 60. 24 of them are between the ages of 70-79, and 3 of them are over 80.
If you love what you do, retirement is not something you're going to be storming the gate to get to as soon as you turn 67.
With people getting younger and more health conscious all the time, and with life expectancy going up, retiring at the age of 67 will someday be unheard of.
Some people in their 30s or early 40s might be reading this article and saying, "Uh, I just got started in my career, I'm definitely not mid-career yet."
You're not alone.
You're part of a growing number of intelligent millennials and Xennials who ripped off the shackles of societal obligations (such as marrying by the age of 25 and being fully vested into a career by 35) to pursue your vision and find yourself.
Mid-career is certainly something that is inevitably going to be pushed back even further through various facets like health, longevity, perception and ideology.
So, Jim Collins isn't off his rocker by saying 66 is mid-career for level 5 leaders and those who are passionate about what they do for a living.
If you're like Warren Buffett and are still rocking and rolling at 94 years old, then 66 is certainly mid-career.
So thank you, Jim, for a thought-provoking statement and idea. We love it, and couldn't agree more!
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