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If you are a Baby Boomer who will be approaching 'retirement' in the next five to ten years here is something to think about.
We all have gone through transitions in our lives: grade school to high school, high school to college, college to work, marriage, kids, kids growing up (who can forget teenagers!), kids moving out, changing jobs – the list goes on and on.
Some of them just happened with little impact on our lives. Others, we carefully considered before we acted. Some were a surprise – catching us unprepared – leaving us reeling for months after.
Many Americans expect to retire in their mid sixties. That’s when Social Security kicks in. Retirement plans, too. Financial planners have been selling their products for years with the great ‘brass ring’ of a joyful, carefree life after retirement.
Sixty five has become the time for the “Grand Transition,” the time when we move from work to life after work. From work to …! Everyone has a different idea about what their retirement will be. Some plan. Some just let it happen. Some look forward in hopeful anticipation. Others look forward with dread.
For some, it’s stepping into a giant nothingness/unknown. I have a picture in my mind of someone riding a train. The train stops and he or she steps off – because it’s time to step off. They didn’t pick the stop. It was just ‘their time to step off.’ They find themselves in a wide open space without landmarks, without roads, without buildings, and no map. It’s time to start life all over again.
It’s what I call the ‘third phase’ of life – a period that could last 10 to 30 or more years. It’s not just nothing – it’s something. What it will be is, to a large extent, what you’ll make of it. The odds are that you’ll have your good health – especially if you took care of yourself during your ‘pre-retirement’ years.
My philosophy is that for life to be enjoyed it must be meaningful – we must be living life with a purpose. To say it another way, “Purpose gives meaning to human life.”
That purpose must fit our personal values. It must matter to each of us, personally.
For your personal ‘Grand Transition’ to be something you look forward to, you must be moving toward something – something that matters to you – something that gives you satisfaction, for some even more satisfaction than work gives now.
It’s like finding ‘new life work’ that gives meaning to your life and expresses who you are, that taps into what’s important to you, what makes you special, unique.
The point is that you need to be preparing for your personal ‘Grand Transition’ so that you look forward to your own ‘third phase’ with anticipation and confidence. It’s not settling for what you can get. It’s not just ‘filling time.’ It’s choosing your future and learning to create it.
Some people such as professionals – lawyers, doctors, design professionals, artists, etc. – may just decide to keep on working. That may be exactly the right answer for them – provided they can stay current in their field of expertise and can have an ongoing source of clients.
Some who own their businesses may be able to stay working provided they don’t stifle the development of the ‘next generation’ of people and the growth of the company. They will need to redefine their role. Stepping aside and ‘giving up the reins’ – is not easily done especially for strong leaders and ‘self made men.’ Often the best action is to move on.
Making the Grand Transition into a productive, satisfying ‘third phase’ is a challenging task. Not many have done it. Those who embark on the task are ‘pioneers!’ If you are a ‘sixty-something,’ now is the time to plan ahead.
Peter Wendel is President of Peter Wendel Group (Buffalo, New York) an organizational consulting firm dedicated to building high performance organization that are able to prosper and grow in these rapidly changing times by offering succession planning, strategic thinking, team building and leadership development services. He blends a passion for organizations and people with a lifetime of experience both as a business leader/manager and an accomplished consultant.
The Peter Wendel Group specializes in succession planning, building on three elements:
- Building a strong sustainable organization in which people are aligned toward achieving a shared vision and are in positions that build on their personal strengths and aspirations.
- Developing a cadre of people who have the vision, passion, talent and skills to become the ‘next generation’ of leaders.
- Helping the current leaders prepare to make the ‘Grand Transition’ from work into what I call ‘the third phase’ of their lives.
Email: pkwendel@aol.com
Company Profile: Peter Wendel Group
Company URL:
http://www.peterwendelgroup.com
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