Month: March 2024

Sorry, if you started reading in order to pick up some recipe or meal ideas, I may have misled you. But now that I have your attention, are you open to thinking about discussing Death over Dinner? What!?! Who chose to write about this topic and tie it to a relaxing and enjoyable subject like dinner?

That would be me. Let me explain.

An Old Movement

“Death Over Dinner” is actually a non-profit, global “movement” started in 2013 that encourages people to gather over dinner and talk about what we want to happen when we die, which as their website says, is the most important and costly conversation America isn’t having.

There is actually a book about it too. The book is meant to help encourage people to create what they describe as an “uplifting, interactive adventure that transforms this seemingly difficult conversation into one of deep engagement, insight and empowerment.”

The Inevitable

I totally agree that we are not having this important conversation, but I also know that there are two inevitables in life – death and taxes. And the two things we tend to fear the most (death and public speaking) leaves the subject of death NOT at the top of the list of things anyone enjoys or wants to think about, let alone talk about. So, because we humans tend to need to hear about things 7+ times before we act on them, that brings me to my recommended CTA (Call to Action) for this month.

Look Around the Table

I am not suggesting you bring up the topic of death over dinner at one of your upcoming meal, holiday, or special event gatherings. Instead, to help your brain begin to ponder and think more about your final wishes, I encourage you to look around the table as you share those meals this month and the next several months in order to think about those smiling faces of family and friends.

Ask yourself: How can I help keep those smiles on those faces down the road when it comes to my time to leave this world? Have I taken steps to ease that transition? Are my wishes in writing and my records organized to help reduce the stress of that process? Have I really taken care of my loved ones all the way to the end?

Think Intentionally

How best do you do that? How do you trigger as little stress as possible during an already stressful and 100% guaranteed to happen event? The key is to think intentionally about it in advance. You want to avoid a scavenger hunt and instead make everything organized and findable for loved ones when the time comes.

The Stuff

And I can’t reiterate enough that it is often “the stuff” that causes the most disagreement among families. I see “giving while you’re living” becoming more popular. Giving away items you already aren’t using, especially when you know who you want to enjoy them after you are gone, is the perfect fit for that idea.

My mother-in-law gave each of her daughters-in-law a lovely crystal serving dish/plate from the Easter meal one year, as an example. She also shared jewelry from her working years that she no longer finds herself wearing.

The List

I also hear a lot of stories about stikee notes on the back of items throughout the house as another way to designate who gets what. My Personal Property Disposition List is another way to clarify your wishes. Any sheet of paper can also serve that same purpose as long as you clearly indicate the item, the name of the recipient, and sign/date at the bottom, storing it with your other estate planning documents. Not having anything in writing is too often an invitation for your heirs to “duke it out” amongst themselves, and unfortunately too often that is exactly what they will do!

Write Your Happy Ending

This thought process is really a gift you give to yourself AND your family… end-of-life and estate planning peace of mind. So, I encourage you to just keep this “death over dinner” idea in your mind over the next few months as you look around the table at mealtimes. You are in charge of writing the happy ending for your life story. And if you do it well, check out my website for lots of ideas and tools, your family will eventually thank you!

Let’s Have a Conversation:

Have you experienced the peace of having your financial house in order? How can we think differently about an inevitable time for our families? Have you experienced an organized or disorganized loss of a loved one?

In my last blog post, I provided an overview of how to answer the first question most business owners ask: “What’s my business’s value?” The two-part answer is:

1. What someone will pay for it; and
2. It varies depending on several factors like income, expenses, reputation, brand, operational efficiencies, amount of recurring revenue and intellectual property.

In this column, we’ll look at the three primary ways to value your business and we’ll use the two businesses I introduced in the last post to give you an idea of how this process works.

One caution: valuing a business is a complex process, and a single method is rarely used in isolation. While having a rough estimate of the value of your business in the beginning is useful, you’ll ask for a formal valuation from an independent valuation expert later in the sales journey.

Three Valuation Methods

Market-Based Valuation

This approach compares your business to similar companies that have been recently sold. An advantage of this approach is it uses real-world data from recent market transactions.

On the other hand, while this method is easy to understand and doesn’t require elaborate financial modeling, finding businesses like yours in terms of size, services offered, and market position is difficult.

Income-Based Valuation

This method forecasts future cash flows and discounts them to their present value, providing an estimate of the business’s present worth.

On the plus side, this method estimates your business’s growth prospects, which can be especially valuable for businesses with strong future potential. It’s also flexible so you can customize the forecast period and discount rate based on your specific circumstances.

However, the usefulness of income-based valuation hinges on the accuracy of your future cash flow projections. Because the future is un-knowable, an income valuation is subjective and prone to unforeseen circumstances.

Asset-Based Valuation

This approach values the business based on the fair market value of its tangible and intangible assets. This method is most relevant for businesses that rely heavily on physical assets like machinery or equipment. It’s rarely used for service businesses where the true value often lies in its intangible assets like brand reputation, customer relationships, and expertise.

Two Examples

Let’s have some fun and look at two businesses and how we might value them.

Which Valuation Methods Might Apply for Debi’s Grilling Business?

The first business is Debi’s Turkish-style grilled chicken pita sandwiches that is a staple at the local Farmer’s Market.

Debi rents the tent and grill she uses. Therefore, the asset method doesn’t apply.

It’s possible the market-based valuation might be useful for Debi. She could contact the Farmer’s Market Association and find out what other similar businesses have sold for in the last few years. Debi knows many of the current vendors in the Farmer’s Market and she could ask some of her fellow owners if they would tell her what they paid for their businesses. Thus, a simple market-based valuation might be useful for Debi.

An income valuation approach might also be valuable for Debi. She’s organized and keeps excellent records, so she knows her financial numbers. She could forecast a growth rate. She could also factor in new opportunities for her business, for example, an expanded menu list, higher prices, and locate other Farmer’s markets and street fairs at which she could sell her products.

One negative for Debi in valuing her business is the lack of true recurring customers. While my wife and I buy our Sunday lunch from Debi several times a month, Debi is not assured of our continued business.

How Might Donna Estimate the Value of Her Yarn Shop Business?

Like Debi, Donna doesn’t have many assets and the asset method won’t give her much useful information about the value of her business.

However, the market-based valuation might provide Donna with useful information. Donna could ask the yarn association of which she is a member for data on other recent yarn shop sales. She knows a few other yarn shop owners personally and she could ask them for ideas as well.

The valuation method that would provide Donna with the most useful information is the income approach. Like Debi, Donna could factor in the potential value of raising her prices, adding services and products, and opportunities to increase her foot traffic and purchase frequency. Donna also has a significant advantage over Debi. Can you think of what it is?

True Recurring Revenue

Donna’s advantage is her on-line subscription service (mentioned in the previous article) for three reasons:

1. It’s a regular source of recurring income for her with low cost for sales.
2. Her subscription model offers the potential for national (or even international) sales. Where Debi is limited to her physical location, Donna’s potential client base is enormous.
3. Donna’s mail list offers opportunities for cross-selling with other vendors who offer services that are complimentary to her basic yarn service.

Even though Debi’s business revenue and Donna’s are similar, Donna’s business would carry a significantly higher valuation because of the potential growth opportunities for her business.

Conclusion

How you estimate the value of your business should reflect its unique value proposition. As you think about selling your business, focus on the value in the eyes of a potential buyer. After you examine your business in these terms, think about how you can enhancethe strongest drivers of your business’s value.

It’s important to note that combining various approaches and considering all relevant factors is crucial for an accurate and informed valuation of a small service business for acquisition purposes. Additionally, consulting with a qualified business valuation professional can add significant expertise and credibility to the valuation process.

Let’s Have a Conversation:

Have you been thinking about selling your business? What do you think is the best approach to your business’s valuation? Why? What questions do you have about determining the value of your business? I’m happy to answer questions if you put them in the comments section below.

Stepping into your 60s is a remarkable milestone, and what better way to mark this chapter than by celebrating with a birthday experience that goes beyond the usual gifts? As you turn the page on another year, it’s time to discover a world of unique and unforgettable adventures tailored just for you. From thrilling escapades to serene retreats, we’ve compiled a list of inspiring 60th birthday ideas that transcend material gifts.

Here are our top ideas for a 60th birthday:

1. Cooking Class and Dinner Party – Arrange a private cooking class followed by a dinner party with close friends and family, celebrating good food and great company.
2. Personalized Workshop – Arrange a workshop or class. Whether it’s painting, pottery, or photography, providing a chance to learn and create.
3. Vintage Afternoon Tea – Host a charming afternoon tea party with vintage flair, complete with delicate finger sandwiches, pastries, and a selection of fine teas.
4. Helicopter Tour – Make it adventurous and celebrate with a helicopter tour to take in breathtaking aerial views of the local landscape.
5. Spa Retreat Weekend – How about a rejuvenating spa weekend at a luxurious resort, complete with massages, facials, and relaxation by the pool?

Create lasting memories and celebrate the essence of life at 60 because, after all, age is just a number, and these experiences are truly timeless.

60th Birthday Ideas

Cooking Class and Dinner Party

Celebrate your 60th birthday with a special private cooking class and dinner party surrounded by close friends and family. Picture yourself in a cozy kitchen, guided by a professional chef, learning and laughing together.

During the hands-on cooking class, whether you’re a kitchen pro or a beginner, you’ll learn new skills and create delicious dishes. The experience is tailored to your pace, ensuring everyone enjoys the process.

After the cooking session, transition to a beautifully set dining area for a feast with your loved ones. Imagine a table adorned with elegance, where your prepared dishes take the spotlight. The evening is filled with shared stories, laughter, and the joy of good food in great company.

This celebration is more than just about cooking; it’s a special moment to connect and create lasting memories. So, put on an apron, invite your nearest and dearest, and savor the joy of a unique 60th birthday celebration.

Check on Tripadvisor for local cooking classes near you.

Personalized Workshop

Immerse yourself in creativity on your 60th birthday by organizing a painting, pottery, or photography workshop. Choose a comfortable setting and let skilled instructors guide you in learning and creating.

Whether you’re painting a canvas, shaping clay, or capturing moments through a lens, the focus is on the joy of the process and expression. It’s a chance to try something new, embrace imperfections, and share the experience with others.

The workshop should be designed for all skill levels, ensuring everyone leaves with a unique creation and a newfound appreciation for art. Celebrate your 60th with a hands-on and memorable artistic experience.

Vintage Afternoon Tea

Celebrate your 60th birthday with a touch of vintage charm by hosting a delightful afternoon tea. Picture a setting adorned with vintage china, lace, and flowers, creating an elegant ambiance.

Treat your guests to a selection of fine teas paired with classic finger sandwiches and exquisite pastries. Imagine the air filled with the sweet scent of brewing tea as you enjoy the sophistication of this bygone-era experience.

Encourage guests to dress in their finest attire for a touch of nostalgia. This vintage tea party promises not just delightful treats but also a backdrop for shared moments and cherished memories. It’s a simple yet elegant way to celebrate turning 60.

The Official Downton Abbey Afternoon Tea Cookbook: Teatime Drinks, Scones, Savories & Sweets can help inspire some ideas for your party.

The luxurious DUJUST 22 pcs Porcelain Tea Set for 6 is vintage-inspired and perfect for an afternoon tea party.

Helicopter Tour

Soar to new heights on your 60th birthday with an adventurous helicopter tour. Picture boarding a sleek helicopter, feeling the excitement as it lifts off and offers breathtaking views of the landscape below.

As you glide through the skies, take in stunning vistas, from lush valleys to serene coastlines. A knowledgeable pilot adds insights, turning the tour into an awe-inspiring experience.

Consider planning it during a special time, like a sunrise or sunset, for an extra magical touch. This helicopter adventure is not just a birthday celebration; it’s a thrilling and unforgettable way to mark your 60th year, offering a unique perspective on the world around you.

Spa Retreat Weekend

Treat yourself to a serene 60th birthday celebration with a rejuvenating spa retreat weekend at a luxurious resort. Imagine stepping into a tranquil oasis, where stress fades away and relaxation takes center stage. Experience personalized spa treatments, including a therapeutic massage and a luxurious facial, leaving you refreshed and revitalized.

Choosing a spa retreat weekend is a way to pamper yourself, creating a memorable and rejuvenating celebration for your 60th birthday. It’s a luxurious escape, a self-care journey, and the perfect way to mark this special occasion with grace and indulgence.

Find your spa on Spafinder, where they have hundreds of spas.

Personal Styling Session

Imagine entering a stylish studio where the expert stylist learns about your fashion preferences and lifestyle. Together, explore a curated selection of clothing and accessories, discovering new styles and outfits that enhance your confidence.

During the session, the stylist provides valuable fashion tips and helps you build a versatile wardrobe tailored to your taste. This experience goes beyond just choosing clothes; it’s about embracing your unique style and feeling confident in your appearance.

As you leave the studio, envision stepping into the world with a newfound sense of style and confidence, ready to embrace the next chapter of life with flair and poise. This gift celebrates the beautiful, confident, and unique individual you are at 60.

For example, stores like Nordstrom and Macy’s have stylist services on hand to help you create a single outfit or a whole new wardrobe.

Scenic Train Journey

Celebrate your 60th birthday with a scenic train journey that goes beyond transportation, offering a unique and relaxing experience. Picture comfortable seats, large windows, and breathtaking landscapes passing by as the train meanders through beautiful scenery.

Enjoy the freedom to move around, visiting a dining car for a delightful meal or finding a cozy corner to read.

The journey celebrates both the destination and the voyage itself, with the gentle rocking motion creating a serene and meditative atmosphere. Whether on a vintage-style train or a modern luxury one, the experience caters to different preferences, making it a delightful way to mark this milestone.

Read 7 BUCKET LIST TRAIN VOYAGES IN THE WORLD

Also read 8 USA TRAIN TRIPS FOR SOLO WOMEN OVER 50

Culinary Tour

Celebrate your 60th birthday with a delectable adventure on a culinary tour, exploring the flavors of a vibrant city or region. Picture yourself guided by an expert through bustling markets, charming alleys, and local eateries. Indulge in diverse dishes, from street food to haute cuisine, experiencing the region’s authentic flavors.

Envision engaging with local chefs and artisans, learning about the stories and traditions behind each dish. Whether through private cooking classes or exclusive behind-the-scenes tours, the culinary exploration becomes a celebration of culture and connection.

It’s a flavorful and immersive way to mark your 60th birthday, surrounded by a region’s tastes and cultural treasures.

Type “Culinary Tours” or “Food Tours” in the search bar on Tripadvisor to find and book experiences near you.

Volunteer Experience

Celebrate your 60th birthday by giving back through a meaningful volunteer experience. Envision a day where you and your loved ones unite to support a cause aligned with your values. Whether it’s volunteering at a local animal shelter, organizing a donation drive, or contributing to environmental efforts, the day becomes a collective effort to make a positive impact.

Coordinate with reputable organizations or local charities to ensure your efforts address specific needs. Involve friends and family in the planning process, turning the day into a shared commitment to giving back. The volunteer experience becomes a celebration of kindness and connection, transforming your 60th birthday into a day of meaningful action.

The joy derived from giving back extends beyond the act itself, creating lasting memories and leaving a legacy of compassion and social responsibility. It’s a simple yet powerful way to mark your 60th birthday with purpose and positive impact.

Read VOLUNTEERING ABROAD DESTINATIONS FOR ACTIVE WOMEN OVER 50

Personal Development Retreat

Celebrate your 60th birthday with a personal development retreat focused on self-discovery, mindfulness, and overall well-being. Picture a serene setting surrounded by nature, where workshops and activities guide you toward personal growth. Imagine moments of reflection, mindfulness sessions, and rejuvenating activities like yoga.

Connect with like-minded individuals, sharing experiences in a supportive environment. Tailor the retreat to your interests, leaving you with a profound sense of self-awareness and tools for ongoing personal development. This retreat is more than a celebration; it’s an investment in your well-being and a transformative way to mark your 60th year.

Let’s Have a Conversation:

Are you celebrating your 60th birthday soon? Is someone you know turning 60? What are you planning for the special milestone? Which ideas on our list are your favorites? Have you celebrated your big 60 already? How did you do it? Tell us about it in the comments below.

Originally posted at: Ally Lewber’s Pink Plaid Crop Top & Pants Set

Have you ever experienced situations in your life where you felt your boundaries were crossed or compromised?

If so, do you remember what emotions those experiences evoked and how they shaped your relationship with yourself and others moving forward?

Whether it was someone else who crossed your boundaries or you were the one who did it to another, all of us can relate to the uncomfortable experience of personal boundaries being violated.

The thing about healthy boundaries, however, is that few of us were taught how to establish them let alone maintain them when and if they are crossed.

This has led many women of our generation to forsake our own boundaries to fit in with society, conform to the status quo of our family or workplace, and to not rock the boat in our personal relationships.

In the first of a two-part article and video series on healthy boundaries, we are going to look at seven benefits of setting healthy boundaries after 60.

To get started, let’s define what healthy boundaries in relationships are and what exactly is involved in setting them.

Defining and Creating Personal Space

Setting healthy boundaries in relationships is about establishing clear guidelines, limits, and expectations for yourself to maintain a healthy and respectful dynamic with others.

It involves clearly communicating your needs, desires, and limitations in a direct, loving, and assertive manner, while also respecting the boundaries of others.

Healthy boundaries helps you and others define and maintain personal space, emotional well-being, and autonomy within a relationship. These boundaries establish the parameters of acceptable behavior, communication, and interactions.

Boundaries can encompass various aspects of a relationship. They include but are not limited to physical and emotional boundaries such as personal space, privacy, touch, time, availability, commitments, all of which are framed by personal values and beliefs.

Benefits of Setting Healthy Boundaries

Setting healthy boundaries in relationships is important for women over 60 for several reasons. Here are seven common benefits:

Self-Preservation and Well-Being

It is crucial to prioritize your physical, emotional, and mental well-being, especially at this stage of your life. Setting boundaries allows you to protect yourself from unwanted situations or unhealthy behaviors that may negatively impact you, loved ones and your overall happiness.

Maintaining Independence and Autonomy

Like many women over 60, you may have spent a significant portion of your life prioritizing the needs of your family, friends, and even co-workers over your own. Setting healthy boundaries enables you to assert your independence and maintain control over your own life when and where it matters most.

Avoiding Exploitation and Manipulation

Unfortunately, some individuals may try to take advantage of a mature women’s kindness, vulnerability, or desire to please. Setting boundaries helps protect you against exploitation, manipulation, and abusive relationships.

Respecting Personal Choices and Priorities

Everyone has their own values, goals, and priorities. Setting boundaries allows you to honor your personal choices and focus on what truly matters to you, rather than feeling pressured to conform to other people’s expectations or demands that are not in alignment with yours.

Enhancing Relationship Dynamics

Healthy boundaries contribute to healthier and more fulfilling relationships. By clearly communicating your needs, desires, and limitations, you can foster understanding, respect, and open communication with your romantic partners, family members, friends, and co-workers.

Reducing Stress and Emotional Burden

Overextending yourself or constantly sacrificing personal needs for the sake of others often leads to stress and emotional burden. Setting and maintaining healthy boundaries helps you manage your energy, time, and emotional resources more effectively, leading to a better quality of life.

Empowerment and Self-Confidence

When you assert your boundaries and have them respected, it reinforces a sense of empowerment and self-confidence in you. It reaffirms your worth, strengthens your self-esteem, and allows you to navigate relationships from a position of strength and self-assurance.

Maintaining a Balance

These seven benefits reveal how essential it is to set healthy boundaries through open and honest communication. Not surprisingly, this is where a lot of us get tripped up.

For many women of our generation, establishing our own voice in relationships was not something we were taught to do or encouraged to express. Therefore, sharing your feelings, desires, and limits in a clear, loving, confident, and respectful manner can feel uncomfortable.

Setting healthy boundaries requires you to advocate for yourself, assert your needs, wants, and desires at an equal level with others.

As important as it is to communicate healthy boundaries from your side, it is equally essential to actively listen to and respect the boundaries of others. This fosters mutual understanding and respect within the relationship.

What setting healthy boundaries in relationships really comes down to is maintaining a balance between self-care, personal autonomy, and respectful engagement with others. It creates a foundation for healthy, fulfilling, and mutually beneficial connections.

I invite you to join me in the video where I will share additional insights on setting healthy boundaries, including three action items to help you integrate what you are learning.

Let’s Have a Conversation:

How do you set boundaries in your relationships? What ways have you found most effective in maintaining those boundaries?