What Does Retirement Truly Mean for You and Your Business?

businessman retiring

Did you just hit the usual retirement age in the U.S.? Well, that means you are entitled to even more government benefits, especially ones that would take care of your healthcare needs. However, when it comes to societal norms, retiring could mean several things synonymous with writing down a will.

If you are a business owner and you are finally retiring, people usually expect you to pass the reigns of your kingdom to your heirs or your apprentice. While this is the common retiring practice in the corporate world, what if we tell you that there is more to retiring than just meets the eye? There is a saying that life should not stop after you retire. So, even if you are a business magnate, you could choose to sell your own business and start living the life you have worked so hard for.

In this article, we would talk about meaningful things you could do after you retire from work. If you are still struggling to let go of your profession, or if you are still adjusting, that is fine. This article aims to enlighten you further.

Retirement should not mean it is the end

For most cases in the country, it is the nursing homes for the elderly. No wonder retirement has somewhat a scary connotation for some. Furthermore, some people refuse to give up on their profession even after reaching 65. It is because they didn’t want to be dependent on their kids for financial support.

Fortunately, it is not the case for business owners. However, the problem is the feeling of giving up everything you have worked for. Imagine establishing a startup company during your late 20s, working hard for its growth for four decades, and when you reach your 60s, people would ask you to step back and finally rest. Although it depends on the person, it is not generally easy to do. After all, it is your life’s work, your brainchild, your purpose in life.

But that is just it; it is not the end. Retirement demands for you to have a new purpose in life. 

Retirement urges you to do things on your bucket list

After you have handed down your business, you probably still wake up in the morning, thinking you are set to go to the office. That is completely fine, your mind is adjusting to the change of routine. For the first few days, you might be enjoying sleeping in and sleeping late. However, for the following weeks, you might find yourself checking on your people or even the news for any updates regarding your business sector.

While this is not bad, you could be making things harder for yourself. You retired to finally take the stability and break you have been working for a long time, and not to be free consultant service of your business.

What if you feel like you do not have anything to do? Well, that might only be true if you haven’t detached from being a business leader yet. Your mind is still on your company’s premises while you are at home feeling torn. Once you finally come to terms with the reality of your retirement, only then you would realize you now have all the time and resources you did not have when you were younger. Now, you could finally cross out things off your bucket list.

If you haven’t visited the Grand Canyon yet, it is the best time to prepare for the trek of your life. If you are thinking you are too old to do any outdoor and physical activities, remember that a bucket list is not limited to outdoor adventures. Look deep down yourself and try to be reminded what your drives were. Remember what your bigger picture was when you were younger.

Remember your purpose in life

Find that purpose again, beyond your success in the business. Perhaps you would want to spend more time with your grandchildren, you could be the cool grandparent! Or you could even learn a new craft, or go back to that passion you had to sacrifice to earn and pay the bills. 

There is so much more to retirement than just being old and fragile. If you look at the bright side, it is yet another chapter of your life. The last hurrah! Perhaps, it is you writing your epilogue. So, how would you want to remember your closing arc? Do you want to spend your time being a business consultant, or do you want to live again? It is up to you.

Like and Share

Union Square Awards is about living and working, becoming a daily source for tips, inspiration, and guides to making the best out of life.

Scroll to Top