Colleague Pete (pic) retired from association management at age 55. A year later he gave retirement tips to those still active in association management, including:
1. Check retirement resources on AARP site;
2. Legacy you can leave – ensuring your staff has retirement plan (even if they think they don’t need one);
3. Purchase investment/retirement property now, while you’re still working. Easier to do while have a salary. Consider renting it to help fund. Provides opportunity to live part of the year in community where you think you’ll want to retire.
4. When to go: while you’re healthy, while still at top of your game, and when you know you’re bored (said not a good sign if look for controversy to break boredom).
5. Don’t underestimate the enormity of the financial and emotional change. Have a plan.
My biggest investment in retirement was a personal coach. I knew I didn't need a shrink, but I did need someone to help me think things through, someone without an investment in my decision (like a child or significant other). It's been almost a year now that I've been working with a coach, and I've learned so much that I took coach training and have my own clients. And yes, I did all of Pete's other suggestions as well, and they are excellent! After all, it's not 'retirement', it's 'reinvention' of yourself.
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