The Transition Into Retirement

Career Transition doesn’t always lead to another job.  With people living longer, healthier lives than ever before, many individuals are faced with the question, “Is retirement the right decision for me?”

The most important aspect of retirement is how you plan your finances – the sooner this is done, the more flexibility you will have in how you spend your “golden years”.  

A potential lack of financial resources is the most common concern individuals express when facing retirement.  Will I be able to get by on my pension?  What government assistance is available?  What about unforeseen expenses or medical costs?  Will I have to change my lifestyle?

A careful look at your finances is necessary, but it’s usually not as gloomy as people think it will be.  One often finds that their financial needs in retirement are actually considerably less than when they were working.

If your finances are in order, then take a look at some of the many positive aspects of retirement:

• You will have additional time to spend on activities you enjoy
• Most of your obligations are behind you so you don’t have to do anything you don’t want to
• You can learn new hobbies or activities
• You can find part-time work in an area of interest
• You can take up or spend more time doing volunteer work
• You can start your own business or help a friend start a business

How will you feel about retirement as it looms nearer?

If you’re like most people, you’ll likely have very mixed feelings – aside from finances, you’ll probably be anxious about losing your friends at work, or you may not be sure about what to do with your time.  With about 2,000 extra hours on your hands per year, it’s a large gap to fill!

But, like so many things in life, you’ll get out of it what you put into it.  

Retirement is a whole new phase in your life – you spent 20 years preparing to work and 30-40 years working – how much time have you spent preparing for your, hopefully, 20+ years of retirement?

Companies often forget about Retirement Planning when thinking about Career Transition and benefits, but it’s a particularly attractive benefit for senior executives, many of whom are beginning to seriously think about the next phase of their lives.

And with the newly revived interest in older, experienced executives, it’s an additional edge that will help your company attract the best.

Cambridge Management Planning has been providing client-focused
Executive Search and Management Consulting services
across Canada and internationally since 1976.
124 Merton Street, Suite 509, Toronto, ON Canada M4S 2Z2
Telephone: 416-484-8408  Email: mail@cambridgemgmt.com