It Was Good To Be King

The phone is always ringing, the secretary holds your calls, the car is waiting and ready to go where you want to go. When you speak, everyone listens. If you have worked your way up to a senior executive position, you are used to commanding a level of respect and power that is suddenly gone when you retire. Now, you're answering your own phone-when it rings-and when you walk into a restaurant, you no longer receive preferential treatment. Now you are thinking "It was good to be king."

Individuals who have a high position in business often fear their value will diminish in retirement. Suddenly, they are not in a coveted position with a corner office. They feel they are no longer "important."

It can be a tough transition. Where does the former executive go to fill the void? Days at the country club, household chores, or local activities do not take up the slack. Sometimes these individuals need to go back into the working world. I have counseled former executives to join a board of directors. This provides an opportunity to hold authority and make decisions. Others share their expertise through seminars and lectures, thus standing commanding respect and attention. While it is not easy to replace the importance enjoyed by a senior executive, it is possible to utilize the skills and knowledge.

Teaching can also be very rewarding.