One of the biggest transitions we make in life is going from actively working for a living to active retirement. This came up again the other day when a client I had been working with for many years came in. Let’s call her Judy. Judy’s husband had retired several years earlier and she was ready to explore her own transition.
In earlier meetings, we had discussed her cash flow, balance sheet and tax situation. She knew that she could retire today. However, she wanted to work for a couple more years. We had discussed the importance of preparing herself to retire with confidence and renewed purpose, similar to what I discussed in Retirement Yearning, an earlier blog in July.
In Judy’s case, there is one little twist: a new boss. A boss who chooses to manage using intimidation and fear. One of those classic people nobody every wants to work for and who can make your life miserable. An easy response would be: “Quit. You don’t need the job; you have plenty of money.”
Her situation triggered for me a statement I had heard many years ago that intrigued me. “The king quakes before the man without fear.”
In the feudal system, the king could always hold something over you. Some people in corporate America feel they are in the same position today. Not banishment into the wilderness or death, but perhaps losing their job if they don’t do what they are asked to do. Or not being allowed to land in a role where they could provide great value to the organization.
To address Judy’s dilemma, she needs an attitude adjustment. Right now she’s falling prey to being defensive or sometimes fighting back. She really doesn’t need to do that.
It’s true that she doesn’t need the job. But Judy still wants to work and she’d like to have two more years to make a comfortable transition into retirement. An attitude adjustment could make it an enjoyable two years.
The point is to not react defensively or angrily, but to do her job professionally and keep her goals and time frame clearly in mind. It will be disconcerting to this gentleman, who is used to leadership by this particular method. It has been effective for him in this organization.
In Judy’s specific case, that is not going to work. She will not quake; she doesn’t need to. Nor does anyone else who has reached this transition point.
Define goals and incorporate the exercises I suggested in the Retirement Yearning blog post. It focuses you on doing more of what you love and getting rid of things you hate doing. It’s best done while you are still working.
Another client said to me many years ago “When you have enough and you’ve had enough, then it’s time to get out of there.” I think a lot of people are waiting for that particular day. But it takes a couple of years to fully transition to a different mindset, a different way of seeing this next stage in life and reinventing yourself. Prepare early.
Life changes money and money changes life. For Judy, her business life built her wealth and now she has enough to change her life. She can do her job on her own terms and free herself up to prepare for the next transition in her life.
If this is a subject that is near and dear to your heart and you want to look at how your money can change your life, give us a call (800-480-7913) and schedule an appointment. Together we’ll talk about your cash flow, balance sheet, taxes and life goals and chart a course for your next life step.
So until next time enjoy!
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