Are You Ready To Retire?

Here I am. I don’t like to admit it, but,...

I am officially of retirement age.

My dad retired when he was my age. I actually contemplated retirement in my early 30’s and then again in my mid-50’s. But being the hyper-achiever that I am, it didn’t stick. I had financial goals I hadn’t met yet, I wasn’t ready to pull money out of my retirement savings, and my identity was too wrapped up in my career. It didn’t help that if you look up icons or emojis for retirement, it shows an old person walking with a cane or in a rocking chair. 👨🏽‍🦽

So I kept on working.

I actually had the benefit of having two summers without working. And if you are from Chicago, you know that the best time to not be working is the summer. I found that I wasn’t bored. I dabbled in a few small income-generating projects to make sure I could avoid dipping into retirement savings. In those two summers I learned that I really enjoyed the flexibility that not working afforded me. I could be there for my kids more. I could work out in daylight hours. I could travel to see friends and family. I restarted playing the piano to see if I could master those tunes I knew when I was 12 years old. Those two summers were idyllic and also freeing. I wasn’t yet ready for retirement, but I could see it in my future.

And yet I went back to work anyway. What I learned in those final years was what I needed for a successful retirement.

My purpose.

"It gave me joy to help people find their path, improve their outlook, understand and improve themselves, improve their emotional intelligence, and ultimately change their lives."

And then it all came together. I met with an old colleague who had some great wisdom to share. When I asked when he was going to retire, he said he wasn’t ready because he didn’t have a purpose. He reflected on the what was needed for a successful retirement.

Four things you need for a happy and successful retirement.

💰Financial security. If you retire and can’t go out and enjoy yourself because you are worried about finances, you are more likely to be depressed. Some people build this security their whole life. Others, like my parents, realize they have some catching up to do and move aggressively in their later years to create financial security. Note to anyone young reading this, it is far easier to start when you are 20 then to wait until you are 40 to worry about financial security. Just look up compound interest and you will understand why.

🤒 Health. It’s a crap shoot. You can lead a healthy lifestyle for 60 years and still have health issues that completely alter your retirement plans. Or you could have an unhealthy lifestyle and stay in good health into your 90’s. A couple I know retired and within 2 years the wife passed due to complications from MS. Life is fleeting. Which is why I held the position that I wasn’t going to wait until I retired to start enjoying myself. Value it and take advantage of your health while you can and don’t wait too long to retire such that you don’t get to enjoy this time.

👯Connection. Even introverts need some form of connection. Human connection makes you feel heard and understood and gives you a sense of belonging. Without it, loneliness and depression may set in. When I talk to the youth of today, they sound like Seinfeld when he contemplated making a new friend. He was hesitant to let someone else into his life. And yet, making new friends, in combination with old friends can bring tremendous joy. Just this past year I went on vacation with a friend I met when I was 6 years old. That we still remain close and connected (and she still puts up with me) warms my heart. I also recently added some wonderful new friends through my coaches training and treasure those new connections. You don’t have to have a million friends. But a handful of close and meaningful connections can make a huge difference.

🏌🏿‍♂️Purpose. A purpose gives us a reason to get up in the morning. It helps make you feel fulfilled and brings you a sense of peace and satisfaction. That purpose could be as simple as helping to take care of your grandchildren, quilting, mastering your golf game, or sharing your music or art with others. For me, since I am no artist or musician, am not yet a grandma, and don't have the patience for quilting or the like, it is coaching and mentoring where I can fulfill my “why” of helping people find their path. In addition to coaching, I have vowed to mentor others for free. That is why I mentor for the Honor Foundation, an organization that helps special ops forces transition to civilian life, the Executive Club of Chicago and Women in Tech through 1871, a tech incubator in Chicago, helping women advance their careers.

A purpose doesn’t have to be grand. I recently started a conversation on Reddit regarding finding purpose in retirement. The variety of choices entertained me, including starting a Bed and Breakfast, learning Dutch, catching up on all the Netflix they missed, and working through a large collection of single malt scotch before doctors say to stop. There is no right answer, just the answer that gives you a reason to get up in the morning.

The power of the still.

As a wise friend just told me last night, you don’t have to be in a hurry to build these elements. If you don’t know your purpose yet, you can still retire. And her advice to her just-retired husband was to embrace the still. Your purpose will come. You don’t have to rush it. Let it wash over you and it will find you.

Coaching can help.

Do you need help finding your purpose? Coaching can help. Schedule a free coaching discovery call to learn more about how coaching can help you live your best retired life.