What do you do if you're a late career professional looking to retire from product innovation?

AI is not bad in answering this question. At the end of the day, no advice is that useful unless you figure out deep down what keeps you going. I can only speak from my own experience. even though I am not late career yet, I had gone through product innovation for many years until somewhat re-inventing myself and took the learnings and applied it to a whole different level. There are elements of Innovation that apply to anything we do like, play, fail safe fail early, thinking big but starting small, taking calculated risks, closer connection with the end user, seeking inspiration, and challenging the status quo. I'm sure you lived these core values and now think of ways to apply those in whatever adventure that awaits you.

As a late-career professional transitioning away from product innovation, take time to reflect deeply on your career journey, achievements, and aspirations. Assess your skills, interests, and values to identify new opportunities or ventures aligned with your passions. Embrace this phase as a chance for personal growth and fulfillment beyond traditional work roles.

I personally do not think retirement means totally not working. It is a restriction or measure put in place to ensure work is distributed evenly in populations. It makes available jobs to the youth while the retirees take time to enjoy and reflect upon their lives. While in retirement the retiree can either monetise or voluntarily train other human resource to work fruitfully in their roles

There cannot be a straight forward answer that directs anybody to figure out how should they reflect. I'm still in my early career So, i'll try answering based on few assumptions. I'll definitely be looking to mentor people in their product innovation journeys. but, i'll also try and connect back with my network to learn about any exciting stuff they doing.

The world needs you. Whether you aspire to serve or desire a different perspective on life, your unique contribution is invaluable. Skills in innovative product development are a rarity, possessed by few. More often than not, we encounter individuals with certifications, they need mentoring & guidance. Thus, there is a significant demand and ample opportunity to support both the industry and the emerging generations, Gen Y and Gen Z, as they venture into the product space.

As a late-career professional planning retirement from product innovation, prioritize financial planning. Evaluate retirement savings, investments, and potential income sources to ensure a secure financial future. Consider consulting with a financial advisor to develop a comprehensive retirement strategy tailored to your needs and goals.

Do you the have another source of income to cover your expenses for another few decades? If you do not, make darn sure your non-PD job is what you and your employer see is a first rate fit.

Begin mentoring before you leave this job. Maybe for two or three years. Prove your metal to a few among a younger generation. Do it for them, not for yourself.

Leaving a legacy behind , apart from books and workshop, grooming next leaders and Mentoring them is something we see folks do

In addition to what was mentioned, consider utilizing tools such as Topmate, Calendly etc to amplify the reach of your services and knowledge. These platforms offer excellent opportunities to monetize your offerings and leverage your expertise. Remember, the world is in need of product thinking experts like you.

As a late-career professional seeking retirement from product innovation, focus on networking continuously to transition smoothly. Build connections with industry peers, explore mentorship opportunities, and stay updated on industry trends to facilitate a seamless transition into retirement while maintaining professional relationships and opportunities for knowledge exchange.

Retirement isn't about stopping; it's about redirecting your remarkable energy. Unleash your inner potential by exploring passions and hobbies. Did playing music, crafting, or competitive sports bring you joy? Dive back in! Your built-in expertise means rediscovering that spark is even sweeter. Why it matters: Lifelong Growth: Passions keep our minds sharp, combating boredom and fostering continued learning. Purpose Redefined: That creative spark or commitment to a cause can deeply enhance your retirement experience. You spent decades honing your professional skills. Now, apply that same dedication to exploring the boundless possibilities of your passions!

Transitioning to an advisor role when retiring from product innovation is a worthy endeavor. Staying in the game sharpens the mind and giving back strenghens connections which results in meaning.

Let's dive into the fascinating world of coaching versus mentoring. Coaching, you see, is all about tapping into someone's potential and empowering them to take on whatever challenges come their way. It's like having a personal guide who helps you navigate through rough waters and emerge stronger. On the flip side, mentoring steps in when you need that extra bit of guidance. But when it comes to nurturing the next generation and grooming aspiring minds for product innovation, there's something special about coaching. It's about connecting on a human level, inspiring passion, and fostering growth in a way that resonates deeply with young minds.

Redesign instead of retire - I do not believe in the concept of "retiring". It is deeply flawed. Why not focus on redesigning instead. To redesign anything you have to start with a baseline, identify gaps, look for ways to address the gaps. I think everyone who wants to retire should consider redesigning their professional life instead of leaving it all behind. You never know what new adventure it will lead you to. Let's replace "RETIRE" with "REDESIGN AND RESTART" !!

I’m assuming that you have been sufficiently successful that your financial future is secure. If so, here’s some guidance. Think through what experiences made you feel fulfilled and happy. A critical conclusion is whether a creative contribution was important to you. About 2% of the population is very creative, if you are one of these you are going to need to find creative outlets. If you enjoy intellectual stimulation, but you are not very creative, that’s important to know. It’s also good to identify what you really did not like to do. With this knowledge, identify how you can satisfy these personal needs through activities now available to you since you are now retired and have the time to do stuff you enjoy. Try stuff and refine.

The suggestions in this article are great, but they’re not for everyone. For a large-scale effect, also the employers should reflect on how to leverage the expertise, network and experience of people past the official retirement age. The “all or nothing” mindset needs to go, and employers should think about how to adjust their ways of working to cater for people with diverse needs - be it students, parents, carers, people with different disabilities, AND elderly. Each has something to contribute in return - they just can’t keep up with the usual speed. Companies learnt this with interns, they start with parents, I believe elderly are next. Retirement management should get on HR BPs agenda.

Transitioning from a career in product innovation to retirement can be both exciting and challenging for late-career professionals. Before embarking on this journey, it's crucial to assess your financial situation, craft a retirement plan, and explore various retirement options such as full retirement, phased retirement, or transitioning into a consulting role. Seeking guidance from peers, mentors, and financial advisors can provide valuable insights and support. Embracing new opportunities, prioritizing health and well-being, staying engaged, and remaining adaptable are essential aspects of navigating this transition successfully.