Only 4% of retirees say they are “living the dream”, and 89% have financial issues due to inflation and not saving enough money. If you are retiring, God bless you! Your timing is impeccable. America has changed, and it only gets worse from here. Hey, at least you get Social Security! Our children and grandchildren…not so much. From a career perspective, here is why you should never say, “I’m retired” unless you are 100% RETIRED.

• The Godfather Semi-Retires…or Did He? – Last year I made the mistake of saying, “I’m semi-retired.” What I meant to say was, “Due to the economy, I scaled back my executive recruiting operations.” After working 40 to 50 concurrent executive searches for three years Post-Pandemic, my intent is to stay focused on ten to twelve searches at a time. Traveling more, working less.
• The “R” Word is Career Suicide – This year there has been a parade of retirements. Mostly senior level executives with lengthy careers at big outfits. And each time, the company issues the standard, “Thank you for your service!” press release. Here is problem: Once you use the “R” word, there is a stigma. Why would you want to go back to work? Will you only stay a year or two? If your plan is to relax for six to twelve months, call it a sabbatical. If you decided to change course, that is perfectly acceptable. But stay away from “retired” unless you are 100% retired.
• I’m a Consultant – Everyone is a Consultant when they get laid off, however a real Consultant is someone being paid real money by a real company …to consult. Otherwise, Consultant is code for unemployed. If you can make consulting work, you are a rock star! No one ever got rich working for somebody else. Here is a career secret: When you get laid off, you find out who your five best friends are. They are the five people that return your phone call. Since you can no longer hand out free hotel rooms and show tickets, mostly no one returns your calls. One Casino President told me years ago, “Mark, they forgot my name the day I walked out the door.”
• Real Life Example, Part 1– One high level casino executive was retired for a month before sending me his resume. “I’m bored.” I get you! You can only play so much golf. Fantastic executive, good personal friend, and a great fit for one of my roles. Was excited to submit his resume to my client. The response, “Thought he retired?” He is perfect for the job, however now I find myself having to persuade the company he is NOT retired. Do you see the challenge for me as an Executive Recruiter? It creates a perception.
• Real Life Example, Part 2 – Have a friend in his mid-70s that “retired” five years ago and moved to California. Yet…he just won’t go away. Keeps showing up at the office here in Las Vegas. The other night at an event I overheard him say, “I’m never going to retire.” Grace Slick may have said it best, “Eventually you are too old to rock and roll.” Knowing when to leave is a gift.