On Monday, the Australian Football League (AFL) announced the largest sport sponsorship ever – $2.5 billion over six years from 2017 to 2022. On the stage at the time of the announcement were nine executives representing the AFL, Telstra, the Seven Network, News Limited and Fox Sports.
One executive, Kerry Stokes, was committing $1 billion. He is aged 74. Another executive was Rupert Murdoch; he was committing $1.2 billion. He is aged 84.
I find it remarkable and remarkably good that they are both so centrally involved in their businesses and in creating future value, for themselves, their families and shareholders.
They tell me there is still a rich and involving life ahead if I should choose to grab it and run.
And I want to. Not because I need the money (which I still do) or to feed my ego. No, I want to because it makes me feel good in so many ways.
The Americans have a term for it (of course) – they call it a sense of ‘mattering’. Our job gives us a sense of self, making us feel we have a role which is worthwhile and that we ‘matter’. We are needed, acknowledged and respected.
I don’t however think Rupert Murdoch is challenged in the ‘mattering’ department. For him I hypothesise it is more. And if his experience is the same as mine, I think I know what it is.
Getting back in the swing
When I semi-retired in my late 40’s I initially enjoyed the change of pace. But quite soon I realised something was missing and it was the loss of contact with all kinds of people – literally. I was now mixing only with people like me. About my age, similar attitudes and philosophies, similar everything. As Jerry Seinfeld said, I discovered “I hate myself”.
I missed mixing with younger and older people who each were uniquely different to me.
I went back to work and immediately engaged in the diverse worlds of other people and it was good.
By the way, it wasn’t that easy to go back to work. At my age, approaching 50 I found I could not get a job (and I tried very hard). Fortunately I knew how to set up a new business (though reluctantly). But I would have done anything – including cleaning dishes – to get back in the swing.
So when I look at Rupert Murdoch and Kerry Stokes, I think they could have any retirement life they want – but they don’t. They choose a life of variety and stimulation and reward from effort. They are a role model for all of us to stay engaged.
Postscript: Where are the women? Good question. There are very few it would appear. The academics will tell us women build friendships and networks through life which give them a path after they ‘retire’. They are not so challenged by the concept of ‘mattering’. I think it is also a matter of not having the opportunities to start their own businesses or build a career positions, so they may not stay with it – but that is changing now. And it must.
