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Who Am I If I’m Not an Executive? – Preparing for the Transition Called Retirement

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In recent years, I’ve been hearing a variety of stories regarding business owners and corporate executives who’ve been ready to sell their business or step down from their leadership role and retire, only to back out or panic at the last minute. The common theme among these stories is the concern they were experiencing about what their days would look like after they made the transition to retirement. Without preparation, it can feel like going from 120 miles per hour to zero in an instant.

Retirement, or what I prefer to call ReIgnitement™, requires planning. And, while many have focused attention on financial planning for retirement, few have considered the non-financial aspects of this life transition. Even in companies with strong succession planning processes, the vast majority do not focus any attention on preparing the executive for the next stage of their life. Transitions of any type can create stress in your life, even if the change is something that you have been looking forward to.  When that transition arrives, you can react to the changes that arise such as loss of identity, work relationships, and/or purpose. Or, by taking a planful approach, you can prepare yourself to respond effectively to the transition and ease the way.

This month, I’d like to share a simple tool to help you gauge your readiness for this transition. If you’re roughly 2 – 5 years from retirement, or know someone who is, please use this tool or share it with another to get a quick read on your readiness. If you’re already retired, you can use this tool to pinpoint those areas that might need some attention.

Click on the link for the Retirement Readiness Wheel. The 8 sections you’ll address take into consideration a holistic view of retirement. These sections include the following:

  • Clarity of Identity, Purpose
  • Health
  • Leisure/Travel
  • Home/Residence, Location
  • Marriage/Significant Other
  • Work/Business, Volunteering
  • Financial Resources
  • Optimism About Aging

As you review and rate each section, take a moment to determine what that section means to you. Then, to determine your readiness, circle your level of satisfaction with your preparedness for each of the 8 sections on a scale of 1 – 7 (1 = least satisfied, 7 – most satisfied). For example, for Home/Residence, Location – ask yourself “how satisfied am I with my preparedness on where I’m going to live?” Or, for Marriage/Significant Other, consider how prepared your relationship is for the transition. Go with the first response that comes to mind as you review each part of the wheel. That tends to be the one that is most indicative of the way you truly feel.

Once you’ve rated each section, draw a line connecting each of the numbers around the circle.  What kind of wheel do you have?  How smooth and balanced does it feel?  How bumpy might a ride on that wheel be?

If you discover that one or more areas of your ReIgnitement™ could use some tweaking and you’re not sure where to begin, a coach can help.  I invite you to explore my profile as well as those of my colleagues on the Retirement Coaches Association website to find a coach who is right for you. We help our clients think about and prepare for retirement like never before.  Take the time to plan so that you can hit the ground running when you step into the next phase of your life and career.

About the Author: Sherry Dutra is a Talent Development, Career and Retirement Coach and Facilitator who works with corporate leaders in small to mid-size businesses, across the span of their careers. She helps them to accelerate business outcomes and team performance, navigate their own career path, and transition to retirement with ease using proven methodologies and strategies that get results. If you would like to uncover and address hidden challenges that may be sabotaging your success, leverage your strengths, and accelerate your progress toward the results you desire, contact Sherry for a complimentary consultation.

 

Who Am I If I’m Not an Executive? – Preparing for the Transition Called Retirement

By Leave a Comment

Recently, I’ve been hearing a variety of stories regarding business owners and corporate executives who’ve been ready to sell their business or step down from their leadership role and retire, only to back out or panic at the last minute. The common theme among these stories is the concern they were experiencing about what their days would look like after they made the transition to retirement. Without preparation, it can feel like going from 120 miles per hour to zero in an instant.

Retirement, or what I prefer to call ReIgnitement™, requires planning. And, while many have focused attention on financial planning for retirement, few have considered the non-financial aspects of this life transition. Even in companies with strong succession planning processes, the vast majority do not focus any attention on preparing the executive for the next stage of their life. Transitions of any type can create stress in your life, even if the change is something that you have been looking forward to.  When that transition arrives, you can react to the changes that arise such as loss of identity, work relationships, and/or purpose. Or, by taking a planful approach, you can prepare yourself to respond effectively to the transition and ease the way.

This month, I’d like to share a simple tool to help you gauge your readiness for this transition. If you’re roughly 2 – 5 years from retirement, or know someone who is, please use this tool or share it with another to get a quick read on your readiness. If you’re already retired, you can use this tool to pinpoint those areas that might need some attention.

Click on the link for the Retirement Readiness Wheel. The 8 sections you’ll address take into consideration a holistic view of retirement. These sections include the following:

  • Clarity of Identity, Purpose
  • Health
  • Leisure/Travel
  • Home/Residence, Location
  • Marriage/Significant Other
  • Work/Business, Volunteering
  • Financial Resources
  • Optimism About Aging

As you review and rate each section, take a moment to determine what that section means to you. Then, to determine your readiness, circle your level of satisfaction with your preparedness for each of the 8 sections on a scale of 1 – 7 (1 = least satisfied, 7 – most satisfied). For example, for Home/Residence, Location – ask yourself “how satisfied am I with my preparedness on where I’m going to live?” Or, for Marriage/Significant Other, consider how prepared your relationship is for the transition. Go with the first response that comes to mind as you review each part of the wheel. That tends to be the one that is most indicative of the way you truly feel.

Once you’ve rated each section, draw a line connecting each of the numbers around the circle.  What kind of wheel do you have?  How smooth and balanced does it feel?  How bumpy might a ride on that wheel be?

If you discover that one or more areas of your ReIgnitement™ could use some tweaking and you’re not sure where to begin, a coach can help.  I invite you to explore my profile as well as those of my colleagues on the Retirement Coaches Association website to find a coach who is right for you. We help our clients think about and prepare for retirement like never before.  Take the time to plan so that you can hit the ground running when you step into the next phase of your life and career.

About the Author: Sherry Dutra is a Talent Development, Career and Retirement Coach and Facilitator who works with corporate leaders in small to mid-size businesses, across the span of their careers. She helps them to accelerate business growth and team performance, navigate their own career path, and transition to retirement with ease using proven methodologies and strategies that get results. If you would like to uncover and address hidden challenges that may be sabotaging your success, leverage your strengths, and accelerate your progress toward the results you desire, contact Sherry for a complimentary consultation.

Will You Be a Super-Ager?: Tips You Can Apply Now to Improve Your Odds

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What is a Super-Ager?

Staying mentally capable for our entire lives is an issue that most adults are interested in. The good news is that, in recent years, research into aging has expanded to include the exploration of what is different about those who still have the sharp memory of those who are decades younger. The study of those who are aging well is beginning to reveal key differences associated with those who are described as super-agers – those age 80 and above who can function cognitively like someone in their 50’s and 60’s.

What Research Has Revealed

A variety of studies have been and are continuing to be conducted at highly respected universities and hospitals.  One researcher, Dr Emily Rogalski, a neuroscientist at Northwestern University Feinberg School of Medicine, leads a Super-Aging study there. Two key findings stand out. First, that the brains of super-agers don’t shrink as fast as others’ the same age. Second, that super-agers have a large number of spindle neurons, a special kind of nerve cell that helps us to make quick decisions in challenging situations. Not only do they have far more of these cells than their peers, but also super-agers can have more than the average 20-year-old.

What You Can Do

There is much research still to be done. Scientists don’t understand yet why these differences exist. Whether it’s due to genes, environmental factors or an interaction between the two is still to be determined. Dr Lisa Barrett, a neuroscientist with Massachusetts General Hospital, theorizes that working hard at something, either physically or mentally, helps to slow cell loss in our brains. This correlates with thicker brain regions that are associated with better performance on memory and attention tests. To be clear, Dr Barrett is talking about high intensity exercise and strenuous mental effort. So, while the scientists continue to explore the mystery behind the super-ager, there are tips you can apply right now.

  • Get out of your comfort zone. Brain games and crossword puzzles aren’t enough. Learn a new language, pick up a musical instrument you haven’t played in years or always wanted to learn and become proficient at it, take an art class and paint, or learn to code. Pick an activity that makes your brain hurt a little.
  • Exercise, exercise, exercise. If you’re just beginning an exercise routine or looking to step it up, be sure to talk with your doctor to determine what’s appropriate for you. Find an activity that you enjoy and work your way up to a level of intensity where you can’t talk easily while you’re working out. Doing this for 20 – 40 minutes, three to five days per week, is recommended.
  • Stay the course. It can be frustrating to try new things. We are wired to avoid change. Yet there are great benefits that come from sticking with a challenge and mastering it over time. So, whether it’s the instrument you’re practicing or the length of time you walk, be patient with yourself and keep at it. Soon, you’ll be able to do things you might never have thought possible while helping to sustain your mental capability.

In the coming years, science will continue to reveal more of what will improve your odds of becoming a super-ager. For now, no matter what your age, you can begin to put these tips into practice to improve the quality of your life currently and into the future.

 

About the Author: Sherry Dutra is a Talent Development, Career and Retirement Coach and Facilitator who believes we each have far more potential than we typically tap in to. She helps you learn how to step into your full potential so you can create consistent, optimal performance for yourself and your team with less stress and more enjoyment. If you would like to uncover and address hidden challenges that may be sabotaging your success, leverage your strengths, and accelerate your progress toward the results you desire, contact Sherry for a complimentary consultation.