Refirement
By Jeff Levy
Bill Morton a consultant on the aging of America has coined a new word – “refirement.” It is a result of the need to define new phenomena in America where individuals, who have paid their corporate dues, look for ways to apply their skills and talents by firing up their goals, need and expectations. A recent client of mine, John Gegus might just as well be in the definition.
John graduated from Michigan State in 1967 with a degree in engineering and later, acquired an MBA from UCLA. He had a long and productive career in the heavy equipment industry for companies like Dresser Rand including running a startup technology company for 3 years. He took a retirement package and moved with his wife, Elaine, from Houston to our area and settled down on the eastside, primarily to be closer to family. Both John’s sons work for Costco.
It did not take long for John to realize he had a need for mental stimulation and a vehicle to help keep him busy and yes, he wanted to make additions to his assets as he plans to be around a long time for the grandchildren. We began working together to find a business that met his need.
I chose to write about John as he was one of the more analytical and patient entrepreneurs that I have worked with. He broke down his expectation into three categories: financial goals, life style objectives and organizational culture. Each area had sub-objectives and was weighted in terms of importance. He even did a column on his spreadsheet, evaluating if he did nothing.
John is now in the process of opening an equipment leasing business and has made the step from employee to entrepreneur.