Executive positions are often stressful and taxing, and leaders who hold these roles sometimes struggle to go from their high-intensity working life to retirement, according to the Harvard Business Review.
Here are seven strategies executives can use to transition from powerful corporate roles:
1. Plan your off-ramp. While still on the job, CEOs should begin to plan for retirement so the extra time on their hands does not come as a shock.
2. Take your time. Many CEOs rush to fill their calendars, but they should take it slowly and avoid overburdening themselves right away.
3. Prepare to deal with yourself. Executives are so used to their high-paced positions that they often do not have the time for self-reflection. The amount of open time in retirement will bring this kind of reflection front and center, so executives should prepare themselves.
"You need to know who you are when you’re done being CEO," said Anne Mulcahy, former CEO of Xerox. "That means reflecting on aspects of your personality and temperament and sometimes modifying some CEO traits."
4. Partner with your partner. An executive with a significant other should align expectations with that partner and make sure they each have the same vision for retirement.
5. Assume the role of mentor. One of the things most executives miss most about work is being surrounded by talented individuals. One great way to address this yearning is to pass down your years of accrued knowledge and become a mentor to an eager young person starting their career.
6. Plan your allocation of time. Write down the hours per day and days per year you want to allocate to different profit and nonprofit ventures to make sure you have plenty of time for family and personal hobbies.
7. Give back. Most outgoing executives take the time in retirement to engage with philanthropic causes, donating both their time and resources to help further causes they believe in.