Another turning point, a fork stuck in the road
Time grabs you by the wrist, directs you where to go
So make the best of this test and don't ask why
It's not a question, but a lesson learned in time
[Chorus]
It's something unpredictable, but in the end is right
I hope you had the time of your life-Green Day
Retirement. What does that look like for you?
January 1st was my last day of "vacation." I have been off for the past two weeks. What does "off" mean to you? For me, the two weeks were an example of what retirement could look like if I wasn't still working and volunteering. And that isn't something I look forward to. The week between Christmas and New Year's can be so strange. It is hard to know what day it is when every day feels like the weekend.
Many of us start to dream about retirement in our early middle age or even earlier. The idea of waking up whenever we want, traveling, pursuing our hobbies, and enjoying leisurely activities sounds like the perfect life. But is that really retirement or just an extended vacation? Could we sustain this lifestyle for 20 or 30 years, or would we eventually feel bored or unfulfilled?
I left corporate life in my late 40s as a Senior Vice President at Levi’s® because I was tired of eighty-hour work weeks and constant travel. I started my own company, of which I am the owner and CEO. I structured the business so that I could work when I wanted to, as I reported to myself. I don't think I could ever work for someone else again. Not because of the person; there are terrific bosses out there...but because I need the schedule to work for me.
My job allows me to work virtually, so as long as there is an internet connection, I can perform the duties anywhere in the world and travel when I want. I choose which clients I want to take on, and I have become comfortable with saying NO when my client load is as complete as I choose. I set expectations with my clients for me to complete everything by the third week of each month, which means I have the fourth (or fifth week in a five-week month) off. I volunteer at our town's free spay/neuter clinic on Mondays, so I never take business phone calls or texts that day. I spend a day or two each week researching and writing my Substack posts. I begin each work day around 10 am, leaving me the mornings to exercise, walk my dogs, eat breakfast, and get ready for the day. Once I start working, though, I don't stop until 5 pm.
For me, retirement is the best of both worlds. I've officially “retired” from corporate life, but I've chosen to continue working in my almost part-time job because I find it fulfilling. I love analyzing businesses and helping owners improve performance. I also enjoy the teaching aspect of my work. This keeps me engaged and excited about each day. So, what does retirement look like for you? If you're already retired, how do you spend your time? What do you envision your life looking like if you're still working but planning your retirement years?
Of course, many people may need to continue working for financial reasons. Maybe you have insufficient retirement savings or are afraid you may outlive your savings. If so, have you changed anything about your current working conditions? New job? Reduced hours?
But, for those of us fortunate enough to be able to make the choice to retire- what do we do in retirement? I chose the second career option. My sister and a few friends value being grandmothers more than almost anything. So, they dedicate time and energy to helping care for their grandchildren and babysitting often while the parents work to avoid childcare costs. They are thrilled to spend as much time as possible with the little ones. Another friend returned to school to get her PhD and has written several books. I have many friends who started their own small businesses. One went part-time as a contractor with her original company. She can take on projects (or not) when she wants. She can create her own schedule. I admire many people in my town who have devoted their time and resources to various non-profit organizations. They are putting in full-time hours for free...just to give back.
You could say I "retired" at age 46 when I left corporate life. But I don't believe I will ever completely retire in the truest sense of the word.
Re·tire·ment
/rəˈtī(ə)rm(ə)nt/
noun
1. the action or fact of leaving one's job and ceasing to work: "a man nearing retirement."
I question the last part of the definition, "ceasing to work." It depends on our definition of work. Can that be volunteering, helping to raise grandchildren, caring for a family member or friend, part-time or seasonal work, or taking college courses? If you answer yes, you, like me, may never officially retire. And, as my friend Lily said, we need to find another word for retirement. It sounds so final. What suggestions do you have?
If you are already retired, how do you spend your time? What does it look like in your imagination if you are still working but dreaming about and planning your retirement years?
So, why am I concentrating on this topic during the first few days of the new year? Maybe it is because so many people set New Year's resolutions that involve planning for the next steps in their lives. (As I told you last week, I no longer set resolutions.) Maybe it is because I keep thinking about how much longer I want to keep my company going. Or, it's because I have watched so much football over the past two weeks that my mind is a complete blur. Or, perhaps, it is all the cheese. So much cheese!
In any case, the word retirement isn't correct for most people I know. What should we call this period of our lives?
Happy New Year, everyone. Until next week!
Much love!
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The CHEESE!