What do you do if you're a late career professional looking to transition into retirement smoothly?

I work with many people who reach this milestone and have to "do the work" of deconditioning. Essentially, rediscovering their personal identities absent of a title, career or company that has defined them for so long so that they can confidently step into their "calling". Recalling experiences where you have had boundless energy, felt a sense of accomplishment or legacy may surprise you. Unpacking them with a coach who can help source patterns may provide a new source of wisdom for what comes next.

Evaluate your financial situation and determine if you have sufficient savings, investments, and retirement accounts to support your desired lifestyle during retirement. Consider consulting with a financial advisor to assess your retirement income needs, develop a budget, and create a sustainable withdrawal strategy.

Relationships are critically important in retirement. This claim is supported by: - 'The Top Five Regrets of the Dying' by Bronnie Ware (2019), where one of the top five regrets is "I wish I'd stayed in touch with my friends." - The 86-year longitudinal Harvard Grant Study that revealed that close relationships, more than money or fame, are what keep people happy throughout their lives. - The study of Okinawan longevity (a so-called "blue zone") that concluded that?the secret to longevity is not food and exercise but social connection. - The positive psychology PERMA model for human flourishing where relationships receive a top-line, the 'R' in PERMA.

Prioritize your health and wellness as you prepare for retirement. Schedule regular health check-ups, screenings, and consultations with healthcare providers to address any medical concerns or issues. Explore options for healthcare coverage during retirement, including Medicare, supplemental insurance, and long-term care insurance.

A lot of good suggestions in this article. I have coached many senior execs who are getting to the age where retirement is now on the radar. The biggest thing I see with almost all of them is a fear of becoming irrelevant. When work and career has been the biggest part of your life and kids are all grown up, if you haven’t had other significant things in your life, you become irrelevant. Overnight

This transition should be carefully planned in advance. My experience, derived from working with senior executives, reveals that the most successful individuals envision a fulfilling life beyond the executive suite. They continue to engage professionally in some capacity, prioritizing their well-being even more. They have already cultivated a vibrant social life outside of work and welcome the forthcoming flexibility to explore untapped passions. Retirement is no longer seen as decline but rather as a brand-new opportunity to redefine success on your own terms, blending leisure with meaningful pursuits.

Prepare yourself mentally and emotionally for the transition into retirement. Take time to reflect on your career accomplishments and the opportunities that lie ahead in retirement. Embrace the changes and challenges that come with retirement, and focus on finding fulfillment and purpose in this new phase of life.

It’s worth seeking professional guidance, from a financial advisor, retirement coach, or counselor who specialises in retirement transitions. They can provide personalised advice and support you in the transition. By taking proactive steps and planning ahead, you can enter into retirement smoothly and enjoy a fulfilling and rewarding next chapter of your life.