What a Retiring Executive needs besides money
November 7, 2016
Joyce Richman is with us today to talk about Retiring Executive. You can listen to the show at http://rockyourretirement.libsyn.com/what-a-retiring-executive-needs-besides-money
Are you a Retiring Executive? Are you within 5 years of that goal?
There are special issues associated with a retiring executive. Joyce Richman has worked with individuals as an executive
coach for more than 30 years. In addition to her private practice, Joyce has worked with hundreds of clients across the United States and internationally.
Joyce gave us some great advice that she specific uses with executives preparing for retirement, but anybody can use it really.
She said that if you are a retiring executive, you should really have the conversation a couple of years in advance.
So for example, if you are 60 years old, and planning on retiring at 62, you need to start talking about what your perfect retirement looks like, NOW.
A retiring executive should bring his or her spouse into the conversation.
Discuss what you expect, and be honest. If you plan on traveling, discuss this with your spouse, who’s perfect executive retirement may have meant having you around the house and snuggling on the couch watching television. Get these things worked out now.
Consider also what gives you energy.
What do you love to do naturally? How does this play out? If playing the guitar gives you a buzz, consider taking lessons or joining a garage band if you know other aspiring musicians.
Also, some executives don’t want to just stop working when they retire.
Their perfect retirement might mean volunteer work or business consulting. A hobby might take up more of your time, but most of us can’t golf for 10 hours every day.
Consider the top challenges that married couples need to overcome as they move through retirement.
If you are a retiring executive, be sure to talk it through with your spouse. Many people assume that their spouses wants to do what they want to do, and they are used to being in control. Your spouse may be used to doing things at home, and now there is someone that they need to get used to in their territory.
Author of Roads, Routes and Ruts: A Guidebook to Career Success co-author of Getting Your Kid Out of the House and Into a Job
What do you think people should know BEFORE they retire?
If in a marriage/committed relationship, couples should have candid conversations (preferably facilitated by someone objective) about “what’s next?”; what each person wants for those years free from the obligations of paid employment for self, and for each other. This conversation is in addition to planning with a financial advisor so there’s no misunderstanding around finances… what is within bounds… and what is outside those bounds. If single, (and in addition to financial planning) who and what do you need in your life to feel a sense of belonging and involvement in lives outside your own? What stimulates, energizes, focuses your attention in positive ways. Identify it.. all of it… and realize your role in initiating the outcomes you seek.
What if you feel stuck in Retirement?
Think back… to those moments and times when you have been most happy. What was happening? What were you doing? Who was there? What value or benefit came from that experience? You job now… is to find ways to recreate those experiences… if not for you,