Reflections on Six Years of Retirement

For most of my life, I didn’t plan to retire. Reflecting religious influences, I’ve long thought we were put here to spend our life working in the productive service of others.

And my work philosophy was reinforced by my experience as a manager early in my career. Often, I had to oversee folks in their 50’s and 60’s who had lost all engagement in their career and just yearned to retire, but for various reasons could not. I never wanted to become one of them.  Staying productive in the workforce for as long as I was able seemed like the wisest way to live.

But my views on retirement began to change as I read about how Baby Boomers and the FIRE—financial independence-retire early—movement were changing the definition of retirement. Retirement was no longer seen solely as the pursuit of leisure. I liked the redefinition which included remaining fully engaged in life, including doing work that you love. I was beginning a journey to change my views on retirement.  

Then it accelerated by a really bad day at the office.

It was a frigid Montana day. My car said it was five below zero.  I left early to drive three hours to one of the remote bank branches in Northwest Montana I oversaw as the bank’s CEO. I was going around 75 MPH when I rounded a curve and hit some black ice.  My Suburban, almost in slow motion, began to drift until I found myself going backward in the wrong lane. It was the first time I had ever thought, “So this is how it’s going to end!”

I was fortunate. The car drifted into a ditch and crashed into the side of a mountain. The impact blew out all the passenger side windows and burst two tires. But I wasn’t hurt. My first thought was a prayer of thanks that I had more life to live!

After my battered rig was loaded onto a wrecker truck and we were on the road, the driver asked me what I did. As soon as I said I was the CEO of a bank he exploded, “You SOB! Why did you take my home from me without working with me!”

For the second time that day, it dawned on me this was indeed the day I might die!  Fortunately, I was able to talk him off the ledge, and he realized that he was confusing my bank with a credit union that had repossessed his house.

After two brushes with death within two hours, I decided it was time to explore this new world of retirement. After another year of work, I took early retirement at age 62. Now after six years, what have I learned on this new journey? Here are five of the big lessons so far.  

First, my wife and I wanted to experience what it was like to live in a retirement community. We rented a place for six months in a Sun City development in Tucson. The benefits were very real. Well over a hundred clubs to join, new friendships came easily, and the fitness and other facilities offered were first class.

Still, the almost college like atmosphere could not compete with our overwhelming longing to be a part of our grandchildren’s lives. We decided it was a great experiment, but we’ll do our snow-birding in the foreseeable future on the east coast, where the weather is not quite as nice as Arizona, but the family ties are strong.

Second, much of the literature on retirement is about staying curious and learning new skills. It sounds great in theory. I’d always loved music, but never played. My neighbor in Sun City told me about the Ukulele club. Seemed like a great idea, but my ukulele now sits in my office accumulating dust. Perhaps someday I’ll pick it up again, but I found it difficult to be excited in a new interest if I have no history with it.

Pickleball, on the other hand, is a different story. Having played a lot of tennis, racquetball and ping pong in my life it was a natural extension of my past into the present. Some days I’m pretty good at it and the sport offers a great opportunity to meet others and make new friends.

Third, I’ve never been a big fan of the worship of youth that’s so common in American culture. Many cultures throughout history have revered not youth, but rather the elders in the community.

I think about this in terms of today’s work world. The stress of managing people and budgets may be better suited for younger professionals.  But there’s a role for those of us with decades of experience. I’ve found a place I’m comfortable with is sitting on the boards of a couple of banks as well as nonprofits.  A seasoned board can offer an organization wisdom and good governance—including the hard lessons learned from our own mistakes.

Fourth, many of us prepared well financially for our retirement years.  One joy I’ve learned over the past six years: the happiness to be had from giving generously with the retirement income we don’t need.

When I was elected to one of my bank boards in retirement a few years ago, I called the outgoing director for advice. I appreciated his position on board compensation. He said, “I don’t need the board fees, so I give it all to the local food bank.”

Finally, I was a hypocrite much of my life. I served as a church elder for many years encouraging church members to slow down and have a regular time of prayer and meditation each day. But I rarely followed my own advice. I was too busy raising five kids, managing banks or working in nonprofits to have much time for quiet reflection.

Today, I’m happy to say, I’ve finally found this ability to slow down. I will enjoy a cup of coffee, while practicing the spiritual disciplines I often encouraged others to do.

I know it’s only a matter of time before I enter the slow-go or no-go years of retirement. When my time comes to finally hang up the pickleball racket, I’m hopeful that I can fall back on the spiritual muscles I’m now developing, and that I will continue a meaningful and contented life as I age.