Retirement as a proactive career transition – 5 talking points

Wouldn’t it be great if retirement could be taught as a elemental or basic part of everyone’s education?

Comfort.

But it isn’t.  Like so many other basic adulting topics.

As a result the void is filled.

Sometimes it is filled with reasonably helpful information.

But, in the great American tradition, mostly the information void is mostly filled with, a) misinformation, or b) vendors trying to sell you something or get their hands on some of your lifetime earnings.

I have been researching retirement best practices in preparation for my own transition.

And so today’s premise is that retirement should not be treated as ‘retirement’ but as a career transition.

Because treating it as an event or a destination is another in a long line of destination fallacies that we chase throughout our lives.

If I could only be promoted to Vice President of the firm life would be perfect!

If I could only make a million dollars life would be perefect!

If I could only win the lottery, lose 25 pounds, find the ideal life partner… life would be perfect!

If I can only make it to 62 years old and retire life will be perfect!

I can finally have all the rest and relaxation that is my reward for adulting well enough for 40+ years…

Except, that’s not how destination fallacies work.  Life is never about a destination.  Because when you arrive at the destination you realize that nothing is really different and you have brought all your baggage with you.

And this is especially true for retirement because the mythical destination is one of blissful inactivity and willful lack of purpose.

So, my premise is that you should treat retirement like any other major career or life transition.  Take the time to construct something that you are transitioning to as opposed to retiring from.

And, like all these types of career or life transitions this means you are going to need to have some uncomfortable conversations.

With yourself and with your stakeholders.

About an unknown and unknowable future.

Here are some talking points to consider for these conversations.

1. It’s not all about money, but it kinda is.

When you try to have a conversation about retirement you will immediately be directed to and bombarded by the financial planning industry.  You don’t even need to be interested in that conversation.  As soon as you hit a certain age, they will find you.

The problem with their version of the conversation is that it is reductionist.  It reduces to a core question of “How much money do you need?” and then focuses a bevy of ancillary, fear and scarcity-based questions like “How will you survive?” and “what if you have unexpected health problems?” and “what if you make mistakes?”  Etc. etc.

The whole point of this is to scare you into a) never retiring and b) buying their services.

Don’t get me wrong, I have financial advisers.  Because I’m smart enough to know what my strengths are.  There are certain things you need to sort out.  One is investing what capital you have accumulated in a way that meets your goals and matches your risk tolerance.

But, if you start with “When will I have enough?” Enough to be infinitely supported.  Enough to avoid all risk.  Enough to sit and do nothing and cover every conceivable eventuality.  The answer is that you will never have enough.

This is scarcity thinking.  It doesn’t matter.  You can retire any time you want.  You can’t control everything.  Don’t sacrifice Now for a fear of tomorrow.

2. How Much is the wrong question.

I propose some different questions:

• What do you want to do more of?
• What have you always wanted to do?
• What makes you feel alive?
• What gives you purpose?
• What challenges you?
• What allows you to serve?

Then go find a way to transition to the answer.

Want some good news?  If you remove the ‘need to make a living’ scarcity response from the decision process the world is your oyster.

If you like oysters.

I’m purposely using the label transition because, like making a career move, or changing a job, you may need to ease into it.  If you’re thinking about retiring in 5 years, what project can you start now that will position you to transition in 5 years?

How can you scale back your participation in your traditional career role to make room?

3. Now is the time to practice detaching.

Your career, whether you like it or hate it, has provided the gift of not only money but purpose, social connection and, dare I say it, Identity.  Now you need to start the process of detaching from that and moving your purpose and identity to that new thing.

Start by saying ‘no’.  Let some things drop.  Don’t work all the hours.  What’s the worst that can happen?  They fire you?  OK, now your transition plan is accelerated – cool!

Start spending less time at work.  And every time you start to worry about work, which, by the way is spending time at work, repeat “It just doesn’t matter.”

4. Set up some pilot projects to test whether you like the new things.

Don’t wait until the final bell to test out those ideas.  Stick a toe in.  Join the book club.  Take some test trips in a camper van.  Start learning a language or the guitar.  Start writing that book.

Take a big swig of those things that you think you might want to do and swish the around to see how they taste.

Get a sample set of new engagement that you can transition to.

5. Tell your stakeholders what you’re doing.

Once you’ve got this engine going talk it up.  Tell the folks who rely on you what you’re up to so there is no surprise and no disconnect.

Remember, you may be managing your transition like a pro, but there are other people who rely on you that probably need to be kept in the loop.  Like any other transition, having those uncomfortable conversations early and often will ease your pain.

Hope this helps!