3 Tips for a Smooth Transition Into Retirement

People who have enjoyed their careers often find retirement difficult to accept. They may recognize that they are entering a new stage in life, but they will probably have given little thought to how they will deal with their changed status on an emotional level — and the demands their jobs placed on them may have left them with very little time to reflect. The result is that retirement comes to these people as a serious letdown.

Like divorce and death, retirement involves an emotionally painful separation. The basic challenge is managing the grief that comes with it. The psychologists James Robertson and John Bowlby offer a useful description of the process based on their studies of children. The three stages they identify — protest, despair and detachment — lay out how we adjust to life after a separation. As is to be expected, some people go smoothly through these stages, while others struggle.

How can you make the transition less painful? Here are three ways:

— INVEST IN PERSONAL RELATIONSHIPS: There’s no better place to start than home: spending time with friends and family. The 75-year Grant Study, one of the longest-running longitudinal studies of human development, confirms that close personal relationships — more than money or fame — are what keep people happy.

— CREATE NETWORKS BEYOND THE OFFICE: People approaching the ends of their careers should begin engaging in activities outside of the office. Volunteer work, taking classes and teaching can offer enormous satisfaction and access to new relationships.

— FIND NEW OUTLETS: Many retiring executives take on part-time or interim employment as consultants or board members for companies or nonprofits. You can also mentor budding entrepreneurs or young executives. As a mentor, you can make a big difference to younger people navigating the business world. And because networking is vital for a company’s success, you can use your connections to give a jump-start to the people you are mentoring. You can even get actively involved in their ventures.

Navigating all these options can be daunting. Many people will avoid making decisions or taking actions. Employers can help by providing resources to employees who feel stuck about what their next step should be. Personal counseling, therapy and personal-growth workshops are valuable resources.

Currently, few companies are very involved in helping people transition to retirement. But some professional service firms are showing the way. I once advised a large strategic consultancy that sets a relatively early retirement date for its senior partners. Its human resources professionals actively prime partners for retirement by arranging workshops and counseling with life coaches. The retirees find it easier to adjust to a new mode of living, and the firm benefits from its network of former partners who serve as ambassadors for the firm and sometimes bring in new business.

Managing retirement has traditionally been all about financial planning; the psychological dimensions weren’t usually part of the package. Today, given our longer life spans, assuring financial security is only one element in creating a retirement plan. And in our knowledge economy, it’s perverse to let healthy, mentally active managers feel like they no longer have contributions to make.