America’s Oldest CEO at 107
“Papa” Jack Weil could have retired any time he wanted. He owned a piece of Denver’s LoDo, home to his iconic company Rockmount Ranchwear, free and clear. His customers included Bob Dylan, Ronald Reagan, Robert Redford, Jerry Garcia, Elvis, Elton John, Bruce Springsteen, John Lennon, Sir Paul McCartney, as well as dozens of country-western artists. For a more complete review of his customers, check out this link: https://rockmount.com/pages/celebrity-gallery
Mr. Weil went to work every day until he was 107 and died a few weeks after his last day of work.
I became aware of Mr. Weil when he celebrated his 100th birthday and was featured in Denver newspapers. Seven years later, when I had a professional meeting in downtown Denver, I decided I would look Mr. Weil up, and perhaps shake his hand and tell him personally how his continued and contrarian dedication to work inspired me. When I looked up the location of his store, I found it was just a few steps away from where I parked for that meeting.
When I entered the Rockmount store, I asked a salesperson if I could say hello to Mr. Weil. The sales clerk told me Mr. Weil was home sick. I read in the paper 2 weeks later that he had died. The clerk was 84 years old and had worked for Mr. Weil for 62 years. I have since learned that that clerk continued to work at Rockmount for many more years.
Papa Jack’s grandson Steven E. Weil is now the owner of Rockmount Ranchwear. He wrote a biography titled “Ask Papa Jack: Wisdom of the World’s Oldest CEO.“ Here are some tips from that book.
Like many self-made millionaires, Jack Weil didn’t need to keep up with the Jones’s. He rented until he had saved up to pay for his home with cash. He bought the building that housed Rockmount when it was on skid row, long before it became the trendy upscale LoDo. He loved his work, lived a moderate middle-class lifestyle, and didn’t let stressful items get to him.
After Jack turned 100, he would reply to queries about retirement saying “What the hell would I do if I retired? I come in every morning, and after lunch we go to the bank and then to the house. I get in a good half-day’s work, which is enough for me.” Another time he said, “I think I’m retired now when I work 4 or 5 hours a day instead of 10 or 12 hours.”
It is also evident that Mr. Weil lived a balanced life. He was loved by his family. He was a dedicated member of his religious community. Denver Mayor (now U.S. Senator) John Hickenlooper said Mr. Weil was not just a personal friend, but a friend of the City of Denver and “someone who is about defining what Denver is all about.”
If you would like to learn more about this inspiring man, read Ask Papa Jack, by Steven E. Weil, available on Amazon.
Some Questions for thought:
1. Instead of thinking of retirement as all or nothing, what could you do to semi-retire?
2. If, like Mr. Weil, you could retire but choose not to, what specifically would you choose? Full or part-time? What specific activities would you focus on? What activities would you say no to?
3. What is your Number? What would it take financially for you to retire on your terms right now?
Do you know someone who is working or volunteering past age 70? I would like to hear their story. russ@strategicexit.com
