Pope Benedict, 85, is reportedly the first
pope to retire in almost 600 years, which made his decision all the more momentous.
But since the pope believed his health issues were impacting his job, the
decision seems relatively clear-cut.
For the growing number of retirement-aged
professionals who are still hale and hearty, however, the decision gets more
Many were surprised at the
recent announcement by Pope Benedict XVI to step down from his post. This
decision is sure to go down in history, and it triggers an important question
in those with lifelong careers – when is the right time to retire?
While you may not have the same
problems or responsibilities as the Pope, have you reflected on your own future
and when may be time to step down? This especially is true if you have no
mandatory retirement age for your position.
A recent Marketwatch article titled “Retirement lessons from Pope Benedict”
explored this timely issue. Whether you are the Pope, a business owner, or even
a CEO there is always the question of succession. Aside from the business
aspects, on a personal level make sure your advance health directives are
current in the event you became infirm or incapacitated. While you are at it, a
good top-to-bottom review of your estate planning likely is in order.
Whether you are responsible for
millions or just a few, the take-a-way is the same - always be prepared! Seek
appropriate counsel regarding your retirement and/or succession plans.
(February 11, 2013) “Retirement lessons from Pope Benedict”