Latest news with #financialconcerns
Yahoo
a day ago
- Business
- Yahoo
University of Minnesota set to close Les Bolstad golf course
The Brief The University of Minnesota is set to close and sell the Les Bolstad Golf Course in Falcon Heights. The university cited financial concerns for the closure. The city has looked at potential reuse ideas for the golf course, including housing development and turning it into a park. FALCON HEIGHTS, Minn. (FOX 9) - The University of Minnesota announced last week plans to close the Les Bolstad golf course in Falcon Heights. What we know The City of Falcon Heights said on Friday it had been notified by the university that the Board of Regents will vote on selling the golf course at their June meeting. In a news release, the city says it has been anticipating the move by the university and is already considering potential re-use of the property. The backstory In its own statement, the university says the decision was made due to "today's challenging financial environment." "We recognize this course holds generations of memories for our community," the statement from the University of Minnesota reads. "This decision reflects careful consideration and was made in light of today's challenging financial environment. As a public university, we have a responsibility to ensure that our land and resources are aligned with our core mission: supporting students, advancing research, and serving the state of Minnesota." "The golf course does not generate funding needed for the extensive repairs and upkeep that would ensure its ongoing viability," the university adds. "The University is in a constrained economic environment and must ensure every investment is core to our mission. In unpredictable times, it's more important than ever to be clear about who we are and strategic in how we deploy resources." Dig deeper The golf course originally opened in 1928 and covers about 141 acres off Larpenteur Avenue in Falcon Heights, not far from the University of Minnesota's St. Paul campus. A 2024 survey by the City of Falcon Heights, which considered changes to the Larpenteur and Snelling corridor, showed most residents favored turning the golf course into a park or green space of some sort. The city says the golf course land, if sold out of public ownership, would revert to single-family zoning and it's possible at least some of the land could be developed into housing. As far back as 2012, when the university was weighing the future of the golf course back then, there was discussion of selling the course for development. What's next At the same time as the university looks to unload the golf course, the Board of Regents is also considering its 2026 budget. The current proposal would come with the largest in-state tuition increase since 2010. A meeting on the budget is set for Thursday with a vote expected on June 18. The course will remain open through the 2025 season but won't reopen next spring.
Forbes
27-05-2025
- Business
- Forbes
Afraid To Retire? How To Approach Later Life Differently
Wondering what's next If thinking about retiring worries you or makes you nervous–you're not alone. In a recent survey, 61% of the respondents said they feared retirement more than death! And while many of the respondents cited financial concerns as a major reason for their fear, many had social and personal reasons, as well: And I suspect these kinds of concerns might actually be more prevalent than the survey showed, because talking about financial concerns is easier than talking about emotional difficulties. That is, for many people, it's less uncomfortable to say 'I'm worried about having enough money in retirement' than it is to say, 'I'm worried about losing my social connections and my identity.' When I was interviewing people in their 60s. 70s and 80s for my latest book, The New Old, one very brave and honest interviewee told me this had been his biggest fear about leaving his job as a senior executive. He said, 'I was embarrassed to feel this, but it was true. My identity was so wrapped up in my career, that I simply couldn't imagine who I would be if I was no longer doing that work. It took me awhile to figure out.' I think this is at least partly true for most of us who have had responsible, demanding jobs–especially when those jobs have been very meaningful to us. I found myself in this situation in my late 60s, when I realized that I wanted to start stepping back from Proteus International, the company I had created and run for over 30 years. It made me very anxious, and so I decided to use an approach for facing and overcoming fears that had served me in good stead for many years: As soon as I noticed my anxiety, I made the effort to name my fear (step 1). And what I saw after some self-reflection was that I didn't know who I would be if I wasn't working many hours a week as 'the founder and CEO of Proteus.' I had spent decades with that as a big and important (to me) part of my identity–and the idea of not having that was scary. I asked myself what was the worst thing that could happen to me in this situation (step 2), and I realized that it was the possibility of not having a clear sense of identity and not having impact or influence, that is, not making any positive difference in the world. I then thought about how I could make that outcome less likely, and I understood that I needed to clarify what I wanted my post-work identity to be (step 3). I started by summarizing my curiosity about my later-life identity into a simple question. That question was, 'How can I become what comes after the butterfly?' Here's how I came to that: up to that point, I had been thinking of my life as being like the evolution of a caterpillar to a butterfly. I saw my childhood and youth as the caterpillar stage, and it seemed to me that the deeply self-reflective time I spent in a spiritual community in my twenties was 'being in the cocoon.' I saw being the mother of my children and founder and CEO of my company as my butterfly stage. However, unlike an actual butterfly, I was now seeing that stage wasn't the end for me: I had to discover and build my next stage of evolution. Creating that curious question–'How can I become what comes after the butterfly? –helped me move past my fear into finding answers to that question that resonated for me and making plans to help ensure I moved in that direction (step 4). Then, I began taking action to move toward that new post-butterfly identity, (part of which, for me, was writing The New Old.) So, I encourage you to feel and name your fears about retiring, and then let yourself acknowledge the worst things that could happen if those fears came true. Allow yourself to see and name even the deep, difficult things like, 'I could feel useless," or "People might see me as being less valuable.' Once you've let yourself see and feel those fears and have said to yourself as honestly as possible what they are (step 1), you can get clear about the worst that could happen relative to them (step 2). Then, you can move through those fears by deciding how to make them less likely or less negative (step 3). Finally, you can plan to do that and take action to implement your plans (step 4). Once you've seen what you're most afraid of in changing your relationship to work, and are doing what you need to do to move through and past those fears, you might be surprised. Many of the folks I interviewed for The New Old have found a new sense of joy and meaning in the later lives they're creating for themselves. Some are building knowledge or skills that always interested them, but that they never had the time to pursue previously. Some are building 'portfolio" lives consisting of some of the work they've done before and most enjoyed - as consultants or in a volunteer capacity - and other work they've decided to explore. Still others are devoting their time to pure play: travel, sports, time with friends and family. And I have to say, I'm having a marvelous time in my 70s; I feel like I have the time and bandwidth to discover and explore new things every day, and to continue to support my business in the ways my partners (who are now running it) find most helpful. As a friend of mine said, when I shared this with her, 'Yes. Purpose doesn't retire.' I hope you've found this helpful–and I'd love to hear what you're finding and doing as you explore your own third act….
ABC News
15-05-2025
- Business
- ABC News
Wealthy rush to avoid new superannuation tax on $3 million accounts where unrealised assets are targeted
Investors with more than $3 million in their superannuation accounts at the moment are increasingly nervous about a proposed new tax that will eat into some super earnings above the threshold that are yet to be sold or realised. There are concerns that less wealthy Australians might be swept up in the future given that the proposed additional levy isn't indexed for inflation if it passes into law.
