I have been well-past what is considered retirement age for sometime now. Most, if not all of my contemporaries have retired years ago. So, how do we know when enough is enough?

I’ve always been anti-retirement. I have often said that as long as my health is good I would keep doing what I do. I love coaching individuals and teams. Giving people a foundation for effective leadership is very much needed. Just take a close look at the slate of candidates for political office and you will see what I mean.

Back to retirement … what about those who aren’t able to do what they love to do as long as they want, like professional athletes? Their tenure is, let’s say five to 15 years. What do they do next? At less than 40 years old, they can no longer perform. Oh, some find jobs in their sport, but not so many.

Yes, but they made a lot of money during their playing career, you might be thinking. Did they know how to manage that money? A few. Even a smart athlete like San Antonio Spurs star Tim Duncan just recently discovered his money manager had embezzled millions of dollars from him over his career. Laker great, Kareem Abdul Jabbar, had to postpone his retirement because the same thing happened to him.

What about the 19 year old “one-and-done’s” that are going to earn more money in one year than their parents did in a lifetime? The statisticians tell us that over 80% of professional athletes will be bankrupt within five years of retirement. Primary reason—lack of money management training.

In my view, business and leadership training should begin about the 2nd grade and continue all the way through high school and, for those who choose, college. There will always be those who are naturally talented in those areas. They are not enough. They are the 10% who have 90% of the power. We still have the same problems we had when I was 20 and that was a long time ago. Doing what you always did gives you what it always gave you.

Check in at lulu.com for Coach Todd’s bookstore. It won’t be time wasted.