{"id":2085,"date":"2023-05-21T02:54:45","date_gmt":"2023-05-21T06:54:45","guid":{"rendered":"https:\/\/blogs.darden.virginia.edu\/brunerblog\/?p=2085"},"modified":"2023-11-26T06:31:24","modified_gmt":"2023-11-26T11:31:24","slug":"on-retirement","status":"publish","type":"post","link":"https:\/\/blogs.darden.virginia.edu\/brunerblog\/2023\/05\/on-retirement\/","title":{"rendered":"On Retirement"},"content":{"rendered":"<p><span class=\"has-dropcap\">O<\/span>n May 21<sup>st<\/sup> University of Virginia conferred degrees.\u00a0 Traditionally called \u201ccommencement,\u201d the ceremony marks the beginning of a new chapter in the student\u2019s life.\u00a0 This commencement also marks a new chapter in mine: I am retiring from the faculty.\u00a0 The past 41 years at UVA have been a thrilling privilege to teach great students, write to a global audience, lend leadership at the Darden School and the University, and serve the business profession and various communities.\u00a0 I am deeply grateful for the opportunity to serve here.<\/p>\n<p>As you age, the illness of friends and death of loved ones reminds you that life is short.\u00a0 How best to use the time one has?\u00a0 \u00a0When you take stock of priorities and add up all the things you would like to do retirement can make sense.\u00a0 A few ideas guided my decision.<\/p>\n<ul>\n<li><u>Concentrate on what matters<\/u>. Focus on quality, not quantity. Less is more.<a href=\"#_edn1\" name=\"_ednref1\">[a]<\/a> Mae West said that too much of a good thing is terrific, but ignored the fact that you can\u2019t have it all.<\/li>\n<li><u>Foster good relationships<\/u>. Nate Bachman (Darden MBA 1961), sent me a wonderful book, <a href=\"https:\/\/www.amazon.com\/Good-Life-Lessons-Scientific-Happiness\/dp\/198216669X\/ref=tmm_hrd_swatch_0?_encoding=UTF8&amp;qid=1684420517&amp;sr=1-2\"><em>The Good Life<\/em><\/a><em>, <\/em>which presents results of the multi-decade Harvard Study of Adult Development\u2014the authors conclude, \u201cit is the quality of your relationships that matters.\u00a0 Simply put, living in the midst of warm relationships is protective of both mind and body.\u201d<a href=\"#_edn2\" name=\"_ednref2\">[b]<\/a> My friend and former colleague, Saul Levmore, (in his <a href=\"https:\/\/www.amazon.com\/Aging-Thoughtfully-Conversations-Retirement-Wrinkles\/dp\/0190092319\/ref=tmm_pap_swatch_0?_encoding=UTF8&amp;qid=1684441998&amp;sr=1-1\">book<\/a> with Martha Nussbaum) has argued that good relationships are based not merely on being nice (goodwill) but on deep caring (good faith).<a href=\"#_edn3\" name=\"_ednref3\">[c]<\/a>\u00a0\u00a0 So, find those you care about and then care <strong><em>for<\/em><\/strong> them.\u00a0 Serve them better.\u00a0 Caring well for others seems to take more time than it used to.<\/li>\n<li><u>Respect your energy level<\/u>. I love teaching.\u00a0 My classroom style is \u201call in\u201d: high energy, totally focused, and deeply invested in students and the total classroom experience.\u00a0 But increasing age can limit that style.\u00a0 While one can\u2019t perfectly time one\u2019s exit from the stage, I wanted to leave the classroom near the top of my game.<\/li>\n<li><u>Health and fitness<\/u>. Aging well depends on <em>intentional<\/em> personal maintenance: eating and drinking sensibly, getting good exercise often, sleeping well, and a lifestyle that strengthens life.\u00a0 Some years ago, my friend, John Macfarlane (Darden MBA 1979), gave me the very helpful <em><a href=\"https:\/\/www.amazon.com\/Younger-Next-Year-Strong-Smart-Until-ebook\/dp\/B07NMFRQ7W\/ref=sr_1_1?crid=1ZAEKUNI10VCQ&amp;keywords=younger+next+year&amp;qid=1684847749&amp;s=digital-text&amp;sprefix=%2Cdigital-text%2C72&amp;sr=1-1\">Younger Next Year<\/a>, <\/em>by Chris Crowley and Henry Lodge.\u00a0 The authors distinguish between one\u2019s chronological age (how many years you have been alive) and one\u2019s biological age (one\u2019s mental and physical fitness).\u00a0 The book offers a program to build strength, health, and mental acuity. \u00a0A key message is the need to be intentional about health and fitness.\u00a0 Personal maintenance demands commitment and time.<\/li>\n<li><u>Keep learning<\/u>. I\u2019m curious about a lot of things and want to find the time to slake that curiosity. No surprise there: I\u2019m an academician.\u00a0 What to others would seem to be isolated work feels to me like entry into an amazing world.\u00a0 But discovery isn\u2019t just about study, reading, and writing.\u00a0 It extends to travel, pursuit of a few hobbies, meeting new people, and exploring current events.\u00a0 Richard Feynman, the physicist and Nobel Laureate, said there is pleasure in finding things out.\u00a0 That has been my experience too.\u00a0 I want more time to find things out.<\/li>\n<li><u>Standing still is not an option<\/u>. The thought of retirement energized me and reminded me of the readiness I felt years ago to start a career, marry, have kids, write books, and lead.\u00a0 I wanted to get on with the next chapter; I felt a desire to go <strong><em><u>to<\/u><\/em><\/strong>\u00a0 something.\u00a0 Occasionally I\u2019ve met people who regretfully or angrily described their decision to retire as a desire to escape <strong><em><u>from<\/u><\/em><\/strong> something such as grading or endless faculty meetings.\u00a0 Are you \u201cgoing to\u201d or \u201crunning from\u201d as you consider retirement?\u00a0 Good mental health is based on a sense of anticipation, of things to live for.<\/li>\n<li><u>The time seems right<\/u>. I have reached some personal milestones recently: books and articles, launched new courses and projects, and helped some people and organizations. Darden is healthy and in the good hands of a rising generation of leaders.\u00a0 The psychotherapist, Erik Erikson, said that the key challenge in old age is to arrive at a sense of fulfillment\u2014or at least, acceptance\u2014about one\u2019s life.<a href=\"#_edn4\" name=\"_ednref4\">[d]<\/a>\u00a0 One grasps that while not every struggle may have brought success, somehow, the struggles collectively made sense. I believe the work I did has made a difference to others. I did what I could in the time that I had, and I like what I did. \u00a0Serving as Dean was especially fulfilling because I saw the entire Darden community rally and overcome a serious challenge.\u00a0 The spirit of unity was simply inspiring.<\/li>\n<\/ul>\n<p>So, what\u2019s next? \u00a0Relationships, discovery, and giving back.\u00a0 My wife and I have been blessed with grandchildren who are toddlers and want to see more of us.\u00a0 Also, some neglected hobbies and travel interests are calling. I look forward to continuing service on a couple of not-for-profit boards.\u00a0 I aim to continue to write and blog about topics that draw my interest: financial crises, democracy, capitalism, and leadership.<\/p>\n<p>Fulfilling one\u2019s purpose is an ongoing project, no matter where you are in life.\u00a0 Some people find deep purpose in religious faith, others in a secular cause.\u00a0 \u201cThere is only one solution if old age is not to be an absurd parody of our former life,\u201d wrote Simone de Beauvoir, \u201cand that is to go on pursuing ends that give our existence a meaning\u2014devotion to individuals, to groups, or to causes\u2014social, political, intellectual, or creative work.\u201d<a href=\"#_edn5\" name=\"_ednref5\">[e]<\/a>\u00a0 Paul Volcker, the iconic former Chairman of the Fed, published his final book at the age of 91 titled,<a href=\"https:\/\/www.amazon.com\/Keeping-At-Quest-Sound-Government-ebook\/dp\/B07DZY3DH3\/ref=sr_1_1?crid=2I9SCZK9DAMM2&amp;keywords=Volcker+keeping+at+it&amp;qid=1684494195&amp;s=digital-text&amp;sprefix=volcker+keeping+at+it%2Cdigital-text%2C60&amp;sr=1-1\"> <em>Keeping At It<\/em><\/a><em>.<\/em>\u00a0 Henry Kissinger, who turns 100 this month, published books <a href=\"https:\/\/www.amazon.com\/Leadership-Six-Studies-World-Strategy-ebook\/dp\/B09BV78DM2\/ref=sr_1_3?crid=1XUT12X82PZ0R&amp;keywords=Kissinger&amp;qid=1684837580&amp;s=digital-text&amp;sprefix=kissinger%2Cdigital-text%2C66&amp;sr=1-3\">last year<\/a> and the <a href=\"https:\/\/www.amazon.com\/Age-AI-Our-Human-Future-ebook\/dp\/B095XH2N6Q\/ref=sr_1_5?crid=1XUT12X82PZ0R&amp;keywords=Kissinger&amp;qid=1684837580&amp;s=digital-text&amp;sprefix=kissinger%2Cdigital-text%2C66&amp;sr=1-5\">year before<\/a>, and envisions writing two more: one on artificial intelligence and a second one on alliances.<a href=\"#_edn6\" name=\"_ednref6\">[f]<\/a>\u00a0 Another exemplar of sustained purpose was Bill Russell, who died in August 2022.\u00a0 He was the pillar of the Boston Celtics during their extraordinary run of eleven NBA championships. \u00a0Russell said, \u201cThe most important measure of how good a game I\u2019d played, was how much better I\u2019d made my teammates play.\u201d<a href=\"#_edn7\" name=\"_ednref7\">[g]<\/a> \u00a0 I\u2019ll look for opportunities to help those around me play better.<\/p>\n<p>I don\u2019t have a bucket list of things to do or places to see.\u00a0 The idea seems more about checking boxes than finding any meaning in those boxes.\u00a0 Indeed, a bucket list looks like a race against the Grim Reaper, a frantic effort to Have it All before you die (see my earlier advice against running from something).\u00a0 Retirement should be about more than consumption.<\/p>\n<p>To be clear, travel is valuable.\u00a0 It literally widens your horizons and gets you out of the echo chambers created by social media or your narrow circle of friends.\u00a0 My vision for travel is \u2018T\u2019-shaped: to know a little about a lot of places, and a lot about a few places&#8211;to go broad and go deep.\u00a0 After a lifetime of mostly going broad, my interests these days are more about going deep.\u00a0 I would like to learn a lot about the language, culture, history, economics, and politics of a few places\u2014and most importantly, to build relationships with people in those places.<\/p>\n<p>Equally important is living more thoughtfully where you are.\u00a0 Henry David Thoreau, one of the great essayists in American literature, lived in a small cabin on the edge of Walden Pond, Massachusetts, and declared that he had traveled extensively in Concord<a href=\"#_edn8\" name=\"_ednref8\">[h]<\/a>, the town nearby\u2014implicitly, he criticized rite of passage of wealthy young Americans in the 19<sup>th<\/sup> century who took a Grand Tour of Europe or other regions. \u00a0He argued that the important work of self-discovery and soul-strengthening requires an inward, rather than outward, voyage.\u00a0 You could, for instance, stop and think, read some good books, befriend your neighbors, or work in the community.\u00a0 Thoreau urges us to slow down, simplify, and reflect.<\/p>\n<p>In conclusion, this next chapter of my life might better be called <em>redirection <\/em>rather than retirement.\u00a0 Much of my outlook is summarized in the saying<a href=\"#_edn9\" name=\"_ednref9\">[i]<\/a> that the three essentials of happiness are something to do, someone to love, and something to hope for. I am redirecting my life around such essentials. Friends and colleagues express some sadness that I\u2019m moving on. \u00a0But retirement, done well, should not be an occasion for regret.\u00a0 Anyway, retirement is all around us.\u00a0 Tom Brady, Serena Williams, Bruce Willis, Sandra Bullock, and Cameron Diaz all stepped out of their professions recently\u2026and the world continues to turn.\u00a0 Life goes on.<\/p>\n<p>&nbsp;<\/p>\n<p>p.s.: My wife and I will maintain our roots in Charlottesville, while giving increased time to family on the West Coast.\u00a0 My blog and other social media will stay active.\u00a0 And I remain reachable via my UVA email address, <a href=\"mailto:brunerr@virginia.edu\">brunerr@virginia.edu<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>End Notes<\/strong><\/p>\n<p><a href=\"#_ednref1\" name=\"_edn1\">[a]<\/a> Often attributed to Mies van der Rohe, the earliest expression of this aphorism was by Robert Browning, \u201cAndrea del Sarto\u201d (1855).<\/p>\n<p><a href=\"#_ednref2\" name=\"_edn2\">[b]<\/a> Waldinger and Schulz p.23.<\/p>\n<p><a href=\"#_ednref3\" name=\"_edn3\">[c]<\/a>Nussbaum, Martha C.; Levmore, Saul. <em>Aging Thoughtfully<\/em> (p. 87). Oxford University Press. Kindle Edition.<\/p>\n<p><a href=\"#_ednref4\" name=\"_edn4\">[d]<\/a> Erik Erikson\u2019s <a href=\"chrome-extension:\/\/efaidnbmnnnibpcajpcglclefindmkaj\/https:\/www.sas.upenn.edu\/~cavitch\/pdf-library\/Erikson_EightStages.pdf\"><em>Childhood and Society <\/em>(Norton, 1993)<\/a>.\u00a0 See his Chapter 7, \u201cThe Eight Ages of Man,\u201d describes the challenge in the final stage of life as a contest between integrity and despair. \u00a0\u201cIntegrity\u201d in his usage is characterized by acceptance and fulfillment.<\/p>\n<p><a href=\"#_ednref5\" name=\"_edn5\">[e]<\/a> Quotation from Simone de Beauvoir\u2019s <em>The Coming of Age, <\/em>as quoted in Arthur Krystal, \u201cOld News,\u201d <em>The New Yorker, <\/em>November 4, 2019, page 75.<\/p>\n<p><a href=\"#_ednref6\" name=\"_edn6\">[f]<\/a> \u201cHow to prevent a third world war,\u201d <em>The Economist, <\/em>May 20, 2023, page 16.<\/p>\n<p><a href=\"#_ednref7\" name=\"_edn7\">[g]<\/a> Quoted in Ben Cohen, \u201cCenterpiece of Celtics Dynasty, 11-Time NBA Champ Dies at 88,\u201d <em>The Wall Street Journal, <\/em>August 1, 2022.<\/p>\n<p><a href=\"#_ednref8\" name=\"_edn8\">[h]<\/a> Thoreau\u2019s exact comment was \u201cI have traveled a good deal in Concord; and everywhere, in shops, and offices, and fields, the inhabitants have appeared to me to be doing penance in a thousand remarkable ways.\u201d\u00a0 See <em>Walden, <\/em><\/p>\n<p><a href=\"#_ednref9\" name=\"_edn9\">[i]<\/a> This has been attributed to the English essayist, Joseph Addison and the German philosopher, Immanuel Kant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today University of Virginia confers degrees.\u00a0 Traditionally called \u201ccommencement,\u201d it marks the beginning of a new chapter in the student\u2019s life.\u00a0 This commencement also marks a new chapter in mine:&hellip;<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2085","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.10 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>On Retirement - Robert F. 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