When it’s time to rehang the shingle

 

I along with nearly 200 million viewers watched in amazement last week as 43-year-old Tom Brady mercilessly schooled rising heir apparent Patrick Mahomes in what was oft repeated as a Super Bowl “matchup of the ages” turned out to be a harsh and painful lesson delivered by someone not yet ready to pass the proverbial torch.

But what I found even more inspiring than Brady’s performance, was the victory lap enjoyed by the 68-year-old coach of Tampa Bay, Bruce Arians, who just two years ago retired from coaching in the NFL citing health problems including multiple bouts with cancer and burnout.

After spending one unhappy season as an TV analyst, Arians returned to coaching last year leading the Buccaneers to an unspectacular 7-9 record. Amazing what one big free agent signing can do, getting the last laugh on those who jeered the team for giving Brady a two-year, $50 million contract.

So, given as how our company primarily works with aging CPA firm owners who are ready to step down from full time duty and solve their succession strategy via a merger, I wondered what happens to those folks who retire and then find themselves mired in boredom and frustration asking, “is that all there is?”

Coincidentally, I recently ran across an article that detailed warning signs when it’s time to, well, un-retire.

Not surprisingly, the first signal that maybe you should re-hang the shingle is that you are having trouble making ends meet. Despite hundreds of articles warning that Social Security will not provide the income necessary to fund a retirement, it’s amazing how many have not saved nearly enough to carry them through those golden years.

Other signs include:

1.       Becoming too sedentary. Sitting around most of the day will do little than provide an avenue toward illness, warn fitness experts. Remember sitting is the new smoking.

2.       Boredom. Not everyone has a passionate hobby like golf or painting. Some cannot adjust to their new life and getting back into the workforce may provide the solution.

3.       Loss of connections. The loss of rehashing sporting events or great dining experiences with your now former work colleagues is gone. That may lead to increased stress and insomnia.

4.       You come up with an idea for a new business. If the numbers work out, the experts say go for it and pursue your passion. I knew a 70-year-old who retired after 40 years with the same company and began a boutique winery in his basement. He now has orders coming in from all over the country.

If you need “coming out of retirement” coaching advice, you may want to try and contact Bruce Arians. Although I would guess his calendar will be a bit crowded the next couple of months.