For many contractors and entrepreneurs (yours truly included!), retirement is a scary concept! With Bundy, Dennis, and Bill B. departing PCA in the last three years, retirement is suddenly much more a concern for us than it had ever been. While retirement has different definitions for different people, it nonetheless represents the beginning of a different era and way of life.
Please tune in this week as Wayne details great advice from Arlin Sorenson’s blog about how to think through and prepare for your eventual sayonara from the full-time work world. Arlin offered six thought provoking questions to help prepare your mind and heart for retirement, and Wayne adds one of his own.
For those of you who have made the transition successfully, what has worked/not worked for you? Please share with the rest of us in the comments.
The last class of Contractor Business Boot Camp for 2024 begins in Raleigh in three weeks. If you haven’t yet enrolled your rising leaders to this one-of-a-kind leadership development program, do it NOW! This is the best investment you will make towards building their leadership future. Contact Charlotte at ckopp3@performanceconstruction.com to find out more.
Please come back later for transcript
Kurt Boson says:
Seven great points, Wayne. I don’t think you’re ever really ready to retire, but it is a leap of faith everyone needs to take. My advice falls on number three regarding where is your identity (external) and self-worth (internal) going to come from.
As entrepreneurs, type-A’s, “bosses”, and well-connected people, leaving your construction business behind leaves a gigantic hole in your identity. You may not believe people will treat you any differently – but they will. From long-time acquaintances, business associates, former employees, and yes even your banker – your identity has changed dramatically. That has been the most difficult adjustment by far.
Fall back on the second part of your point and lean heavily into your self-worth that you have built over your lifetime and career. You may not be as busy, but you’re as relevant and distinguished as ever. There’s plenty of bankers out there! lol
Wayne Rivers says:
Well stated, Kurt! Thank you.