Retirement: Mind vs Dollars

You may have all the money in the world waiting for you when you retire to do whatever and whenever you want. Congrats!!! We would all like to be in that position. However, even with all that cash, there is another side to the story and that is your mind. How will you adjust?

Working on the marketing side of the Financial Service and Professional Service worlds my entire career, I have had the privilege of knowing and becoming friends with a number of these successful people. So while most articles on retirement are numbers driven by financial experts, this article comes from observations from relationships and friendships where people invited me into their lives over the years.

There are people in their late 50’s and early 60’s that couldn’t wait for the day that they retire. They could tell you their lucky date years in advance. Most of them had the same agenda for retirement. Play golf often. Travel. Fish. Go on charity boards. Family time.

I’m sorry to report back that after one year many of these people have partied out. Playing golf 5 days a week can become a grind. You start hurting where you never had pains before. They traveled with their spouse but after a few long trips, the airports, waiting in lines, visiting places that did not look as good as it did on the website, you lost some of the romance of travel. Fishing. Yes it is relaxing but again you become a prisoner of waiting and begin to grasp the sense of time and how long an hour can be, just doing nothing but waiting. Charity boards. A wonderful gesture. But when you start transporting your leadership authority and the need to take control like you did in your old job, they may ask you to channel their support to the charity through financial support only and remove your name from the letterhead of the board of directors.

I once asked the wife of a good friend of mine who retired 6 months earlier how she was adjusting to having the once workaholic husband home with her 24 hours a day. With a deep breath she said she did not realize that one of the benefits of having her husband retired is that she ended up with a brand new girlfriend. He is so bored that he is making plans for us for the first time. Asking me out for breakfast, lunch, dinner each day. Asking her to go shopping with her “other” girlfriends. Yes, not what she expected. She can’t shake him. She pleaded, “Please go golfing…” Didn’t work.

I have met some of my retired pals for drinks and meals over the years. They always start out by asking how are you guys in the working world doing? Waiting for the possible surprise answer of, “You know, I know that XYZ might need someone like you.” But when that answer doesn’t cross my lips, my ears begin to hear about their theory of the bar using larger ice cubes in drinks thus using less liquor in the drink but yet, giving the appearance it’s a full drink. Or my favorite when they complain that they can’t figure out why this restaurant went away from uncovered soft butter on the table to hard butter in foil in a dish of ice.

At this point I have witness the transformation of captains of industries, managing partners, CEO’s, President’s and business owners turn into complaining young/old people.

This is not to say all those fortunate to retire earlier than others take this path. However their mind may be in better shape than the portfolios of the complainers.

I believe you need purpose and a sense of contributing to overcome some of the setbacks of retirement. Each generation has a different body clock.

Maybe getting out of the rat race too early to retire isn’t for everybody. There are so many worthwhile organizations that are seeking expert advice, not taking over, where you can donate your time and skills. Starting up a small business. Helping others out in business. Play and have a good time but feed your mind so you can enjoy your retirement.

When you close the door behind you on your last day of your job and walk into retirement, are you also opening a new door to the future for yourself?

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