The process of retiring seems to be more of a problem than it was when finding the career you wanted in the first place. That old adage of it being more challenging to get out than get in seems to continually ring true, and it sometimes doesn’t matter what your stature is. For those relied upon to continually bring something extremely profitable, going into retirement may have to involve as much planning as a notable TV star. But even those who work as a valuable employee in a company will have to plan things out carefully so they don’t regret it or end up reneging on what’s considered a final bow.
No matter what field you’re in, think over some essentials so your retirement can be bring a smooth transition, even if you might leave the small possibility open that it isn’t final.
Making the Official Announcement
As we’ve learned from the retirement announcements of major TV stars, announcing far in advance is sometimes advantageous to allow viewers and the network they work for to prepare. In someone running a company, making that retirement announcement may have to involve a lot of reflection about how it’s going to affect the company’s welfare. You have to look realistically into the future, look at the likely replacements, and the possibilities of what they do to keep things running.
Sometimes it may just have to do with age and the idea that someone younger can bring a fresher perspective. Other times, it may be from suggestions of peers, which signals that you’re really only retiring against your will.
The above scenario can be a disastrous one, because studies have shown that an unwanted retirement can lead to depression and health decline. When making the announcement, your soul-searching should ultimately involve an exit strategy that doesn’t necessarily mean a two-week notice.
Getting the Exit Timed Without Disaster
No matter who you are, you may want to carve out a schedule that allows you to work part-time while helping to find a suitable replacement. If you’re an extremely valued employee or leader, helping in the replacement search can help you go out with more of a sense of satisfaction. Then again, having an extensive timeline could mean you being let go earlier than you really wanted. This could cause some temporary financial issues if you’re still waiting for your retirement income to kick in.
The important thing is that any extensive retirement exit plan not be a lengthy celebration to the finish line. When it comes to lauding a retiring person too much, it may place you in a position where people expect you to stay retired when you may have plans of doing something else.
Is Your Retirement Really Final?
When you’re extremely valued and you still have good health, the chances are good you’ll be doing something else eventually after retiring. While that’s all a matter of personal preference, retirement has become one massive joke in the entertainment industry, especially in legendary singers who put on lengthy retirement tours. After a third or fourth comeback, seeing a “farewell tour” is only going to receive a barrage of jokes and possible derision. Yes, it’s identical to far too many movie actors who say they’re retiring immediately, only to be back acting in films a year later.
You can use this parallel in better structuring your own retirement in the real world. Do you realistically have enough retirement income to make yourself comfortable, and do you have enough activity in retirement to keep yourself happy?
These things may need at least a couple of years to explore before you even consider retirement. Never give the impression that your retirement is going to be the equivalent of moving to a desert island for the rest of your life. If you think there’s a strong possibility you’ll be back, indicate it’s not really a goodbye and just a shift to new horizons.
In a time when too many retirements aren’t even possible anyway due to financial losses, retirement announcements and parties may end up being designated transition parties. That way, the real retirement announcement can take place when you literally have to be carried out as you perhaps always wanted.