Saturday, May 4, 2019

How to Retire Like a Henry

Today I met and talked to two Henrys who were rather pleased with their retirements.  Henry Sr. is an 87 year old pharmacist who sold his two pharmacies in Rustenburg in 1968 but who kept his licence and worked "locum" or as a temporary replacement pharmacist in the UK on over 95 occasions after that, continuing until he was 84. He was pleased with how his retirement had turned out mostly because he was able to feel useful and productive, but on his terms.  He took positions when he felt like it and didn't have any continuing worries about a business to haunt him. His retirement had two vital factors that he credited with his satisfaction: productivity and freedom.

His son, Henry Jr., is a veterinarian and, at 60 is facing retirement with no worries. He too, intends to phase out of his profession by getting out of his full-time commitment, but by very intentionally working in his field internationally, where he feels it is desperately needed. Like his father, his intended satisfaction is based also on staying active in his discipline on his own terms, but with the added feature that many planning retirement talk about: international travel.

The three of us talked about how fortunate the two of them were in that they had professions that they could phase out of and practice on their own terms. They understood that the vast majority of people didn't have this luxury nor did they have skills that were so valued that they were in demand.  Henry Sr. had just recently gotten a call from the UK asking for his services when they very well knew he was 87.

Henry Sr.'s take on retirement in general was influenced by his understanding of how drugs had revolutionized the last part of human life. "People retired at 65 in the old days because they were probably about to die." He was actually a bit worried about how society (in South Africa in particular) could support all the pensioners that were to come, echoing a common fear in American politics.

While their stories are good news for professionals of many types, their approach points out the challenge of retirement for people who aren't really able to dabble in a job in a way they choose. Feeling productive (and perhaps even getting paid for it) may be more difficult if we have to start fresh at something. This suggests that for many, the development of a valued occupation that can be pursued in a limited way would be a vital pre-retirement concern.