Learning to Embrace Retirement: A Gradual Transition
Proper retirement planning is more than ensuring you have enough money saved to support your retirement through your lifetime. Retirement is not just a financial milestone. It is a major life transition.
After years, or even decades, of defining ourselves by the work we do, retirement can raise unexpected questions about purpose, identity, and fulfillment. Successfully navigating this new stage of life requires more than a solid savings plan; it requires thoughtful preparation for the mental and emotional journey ahead.
Following is a personal reflection from Copper Leaf Financial Founding Partner John Davis, CFP® about his experience transitioning from full-time business owner to life in “semi-retirement”.
John founded the CPA firm John Davis & Associates in 1990. He welcomed Bret Hodgdon as Partner to lead the Audit & Accounting Department in 2006 and the firm was then renamed to Davis & Hodgdon Associates. As the tax practice thrived so did increased demand for financial planning and investment management services, and in 2003 they began offering financial planning services through the newly formed entity JDA Financial Services, LLC. The firm rebranded its financial advisory services in 2015 as an affiliated and separately registered entity, Copper Leaf Financial.
Although formally retiring as CPA from the D&H practice in 2023, John continues to manage general operations within Copper Leaf Financial. He also remains very involved in the community as a member of the South Burlington Rotary, and Chair of the Wake Robin board.
How has the transition into “semi-retirement” been going for you over the last three years?
John: I retired from the CPA practice roughly 3 years ago. It went from 5- or 6-day work weeks doing taxes and consulting, shifting to part-time with Copper Leaf Financial. I freely admit that the transition toward retirement has been a somewhat gradual one. Even after spending a fair amount of time reading about the psychological side of transitioning to retirement, I still wasn’t fully prepared. In fact, I’m not sure I still am. Just as with all things in financial planning, it is a personal transition that differs for everyone. It’s not to say I am not enjoying retirement, or should I say semi-retirement, it is just more of a transition than I expected.
So what have I been doing? I’m still spending one day a week or so working on the Copper Leaf practice. I do a fair amount of reading to keep up on the industry and then drive the staff crazy with related suggestions. Beyond that, I spend a lot of time working on my property. This includes maintaining about 50 fruit trees that I have planted, which includes a variety of cherry plum, apple, pear, nectarine and peach trees. I also have a few odd ones that include a couple medlars and pawpaw trees. I’m still waiting to get fruit from each of those. I also planted some kiwi plants, not to mention the small vineyard of grapes. Then there are the Christmas trees that I doubt I will ever harvest as they are more difficult and time-consuming than I anticipated. Overall, I have planted close to 500 trees and bushes on the property. All that keeps me busy for a few days every week.
Beyond that, I play golf, pickleball and ski. (Yes, I did take up pickle ball as my knees can’t seem to tolerate tennis anymore). In the winter I am also actively volunteering with the Vermont Adaptive Ski and Sports. Admittedly, I have always been involved with a variety of different nonprofit organization boards, but I am now down to just one as I begin my first year as Chair of the Wake Robin Board of Directors.
My wife and I have also been traveling more, but not as extensively as I anticipated. I would be remiss in not mentioning the time I spend with my 5-year-old granddaughter Maddie. We are fortunate that her and her parents live less than 2 miles away. On another personal note, my son just got married in June and he and his new wife live in Underhill. I feel extremely fortunate to have both of my children living so close by and I look forward to enjoying our adventures together as I continue to navigate retirement, or what I should refer to as “semi-retirement” for now.
John W. Davis, CFP®
Copper Leaf Financial, LLC