The 5th Phase of Retirement When Work Is Purpose, Not a Prison

Laura is always pointing out interesting articles and videos for me to read and watch, and recently I watched Dr. Riley Moynes’ TEDx talk on The 4 Phases of Retirement. Like many others, I found it insightful and well-articulated—especially for those who have spent a career in work that may have been meaningful in parts, but was often driven by necessity, duty, or routine.

Dr. Moynes outlines the retirement experience in four distinct stages:

Phase 1: The Vacation Phase
This is where most retirees start. It’s the honeymoon period filled with travel, golf, long breakfasts, and a sense of liberation. It typically lasts about a year before the restlessness starts to kick in.

Phase 2: The Lost and Loss Phase
The gloss wears off. Structure disappears. Identity blurs. There are five core losses that retirees face in this phase: routine, identity, relationships, purpose, and power. It can be jarring, sometimes even debilitating.

Phase 3: The Trial and Error Phase
At this stage, people begin to test out new activities and interests. They volunteer, consult, take up hobbies, or pursue old passions—trying to find something that gives them a sense of usefulness again. Some things click. Many don’t.

Phase 4: Reinvent and Rewire
Here, the individual finds renewed purpose—often through service. The work may look different, but it is deeply fulfilling. Moynes notes that only 50% to 60% of retirees reach this stage.

This got me thinking: what if you have been in Phase 4 for ages and are stuck in a loop trying to use the guidance of norms about retirement? Or better yet—what if you came to realize that your entire career had already been a preparation for what I call Phase 5?

For those of us who have spent the last four or five decades doing our psychological work, integrating our personal healing with our professional calling, and aligning with a purpose rooted in service to others, “retirement” becomes an outdated concept. Why retire from something that is the very expression of who you are?

This is particularly relevant to agency and financial services company owners who are preparing for succession. You’re not just handing over a business. You’re handing over a legacy. And if your work has become a platform for impact, mentorship, and wisdom transfer, then the goal isn’t to exit—it’s to elevate.

In my own journey, I transitioned from coaching into a fractional Chief Operating Officer role. I now work shoulder to shoulder with founders of advisory firms and agencies. I help them scale their business, build rock-solid succession plans, and grow leaders who can carry the torch forward. But here’s the thing:

Underneath the spreadsheets, systems, and strategies, what I’m really doing is helping my clients become more self-aware. I’m guiding them to see how their own mindset, values, and legacy are shaping their business decisions.

And so, Phase 5 is born.

Phase 5: Integration and Legacy

In Phase 5, you’re not withdrawing from work—you’re refining the signal. You focus on what brings the most impact with the least friction. You codify your wisdom. You mentor the next generation. You build structures that outlive your calendar.

You don’t have to wait for retirement to do this. You just have to decide it’s time.

If you’re a founder or agency owner who’s beginning to ask what comes next, I encourage you to think beyond succession. Think about succession of soul. How will your presence, your principles, and your purpose live on in the business you built?

Maybe you don’t need a retirement plan. Maybe you need a Phase 5 plan.

Let’s talk.

Schedule a complimentary call with me to start designing the next phase of your life’s work.