Don't be afraid to retire
by Paul Terhorst

When Hérnan Cortés, Spain's brilliant but unstable conquistador, landed in Mexico in 1519 he and his men were terrified by what they saw. 

Montezuma had all the advantages: a huge Aztec army, knowledge of the terrain, and seemingly unlimited resources. He'd likely crush the tiny Spanish fleet and its handful of men like he'd step on a cockroach. 

But crazy Cortés was nothing if not valiant. He sneaked down to the water in the middle of the night and burned his ships so his men couldn't mutiny and sail home. It should be noted that Cortés did this before he found that Montezuma and his generals had been capturing and eating prisoners from the surrounding tribes. These tribes were getting tired of it, as you can imagine. Once Cortés learned the Aztecs were cannibals, he invited the victim tribes to join the fight. Together, the combined armies defeated the bloodthirsty Montezuma and his Aztec might.

Because of Cortés's action, Spanish-speakers today talk about "burning ships" when we make a decision that forecloses alternatives. In English we say "Don't burn your bridges," but that's a bit different-it means don't foreclose alternatives, but also suggests not to dump on people before we move on. Sound advice. The Spanish expression has no similar connotation: Burning ships simply means moving forward, without looking back, without other options.

Avoid halfway measures

We recommend burning ships, in most cases. When you want to retire, do so. When you want to retire and move, do so. When you want to buy, buy; when you want to sell, sell.  It's foolish to try to keep options open. Life is complicated enough without putting more choices on the table. Make your decision and go for it.

A recent study supports this view. Harvard professors Jane Ebert and Daniel Gilbert invited participants to choose an art poster to take home with them. Some participants were told if they didn't like their poster they could trade for another. Others were told they'd only get one shot, they were stuck with their choice.

Which group was more content with their posters? Those with one shot. 

Researchers hypothesize that when you keep your options open, your mind keeps working on those options. Once you burn your ships, your mind tends to become satisfied with your decision.

Retiring is probably the toughest decision most of us ever make. Naturally, you tend to want to keep work options open. You "keep a hand in," or work as a "consultant." You take part-time work or look around for other opportunities. In most cases, people who do the consultant gigs, and talk about new opportunities in their field, are kidding themselves. They're simply so terrified of retiring that they refuse to burn their ships. Often, they suffer as a result. 

After all, being a consultant without clients can hardly be rewarding. Working yourself to death in a new opportunity can bring just that, death, if it doesn't work out-or even if it does.

Before retiring, I worked as a CPA. When I retired, at age 35, I was tempted to keep my membership in professional organizations, to pay the hundred dollars a year or so to the American Institute of Certified Public Accountants, the State Society, and so on. But I decided that, no, I was going to let the memberships lapse. I was retiring, not looking for another job. I was leaving the accounting field, not taking a breather. I was burning ships.  The feeling was exhilarating.

I recently met an Argentine at a cocktail party. "How you doing?" "Not so good," the he replied. "My mother died, I just can't get over it."

I expressed my sympathy and asked when it happened, when did she die? 

"This October it'll be 22 years."

This man might be disturbed, for all we know. But he needs to forget about Mom in his daily life-at cocktail parties, for example-and move on. Retirement is like that. One day you need to hang 'em up for good and get started on a new life. The younger the better, in my opinion, when you still have creative energy and drive to devote to your new life.

What if you make a mistake? What if you burn ships and find you're miserable in retirement? You can always go back to work in another field. Retirement is two-fold-you're giving up your old work life and starting a new life of leisure. You've only burned ships in the sense of giving up your old career. If you decide you don't enjoy retired life you can still start a new career, build a business, whatever. And you'll have plenty of time to think about it during those days of leisure. Sure, you might have to be a bit more creative, to work a little harder to find a new niche. Then again, you'll probably enjoy it.  In any case, that's not something you need to think about until later. IL