Enjoy Retirement from Our Business
Let’s learn about Lynn and Ted as they enjoy their retirement.
Lynn and Ted met while they were in college. She majored in psychology, and he majored in engineering. Ted got a job with an engineering and construction firm, Lynn went into human resources, and they married. They had two girls, Vanessa and Sylvia, and a boy, Jonathan.
He worked for 5 years at an engineering and construction firm and then bought a construction equipment company. Lynn managed the money and ran human resources. They streamlined the business processes and increased profits. Each year they increased their investments as they planned for retirement. They did business succession planning and sold the business for a nice profit.
First. let’s look at what Ted’s and Lynn’s personality strengths are. Then let’s see how they use them to enjoy their retirement.
Print out these test results for Ted and Lynne so that you can look at the test results while you read about them on the website.
How do Ted and Lynn use their personality strengths in retirement? Read 1.–12.
What happened to the business and the children?
Their older daughter Vanessa got Ken’s genes for engineering. As she worked in the business while she was growing up. It fascinated her. She got to know the employees, grew to respect them and their work, and made friends with many of them. The business succession plan required that the CEO get an engineering degree and an MBA, work in a competitor’s business for at least three years, and do an internship in the family business. In the last two years she worked closely with her dad, the CEO. Then worked out an agreement to buy the business and took over as CEO. He kept his old office, and although she runs the business now, he brings young business owners that he mentors into his office where he advises them. She brought along long term employees and managers that she grew to know and trust over the years. They met business succession criteria and then took over the CFO, CCO and other key management positions.
Jonathan got Laura’s genes for psychology. He decided to do the business succession plan for human resources. Got a degree in human resources, and worked three years in human resources at another engineering and construction firm. Then worked three years under the current human resources vice president and then took over running it.
Sylvia is a born artist. Lynn’s brother Harold is also an artist. Sylvia got a degree in art and is working in an art gallery. She and Harold have become even closer now that they are both part of the local artist community. She paints on the weekend. Once she learns the art business, she may open a gallery of her own. Or just paint more.
What are Ted and Lynn doing in retirement?
Lynn becomes a Stephens Minister. This is a position where she is a volunteer trained in psychology to help people think through their issues. And she plays more tennis, golf, and bridge with friends.
Ted hangs out sometimes at the Small Business Administration (SBA). He likes to mentor younger business owners. They come to his office and get new ideas about what it is possible to do across the years.
He just accepted a position as an Outside Board Member on a company that one of his younger business owner friends owns.
And he has lunch with some clients he became friends with over the years – another benefit of selling the business to his daughter Vanessa.
He also goes fishing more often with his fishing buddies. Plays tennis and golf with some other guys.
He and Lynn joined the country club in the town where their vacation home is. Laura has met a lot of people there – so they have new people to go to holiday parties and out to dinner with. And new tennis and golf partners.
What are Ted and Lynn doing in retirement?
Lynn becomes a Stephens Minister. This is a position where she is a volunteer trained in psychology to help people think through their issues. And she plays more tennis, golf, and bridge with friends.
Ted hangs out sometimes at the Small Business Administration (SBA). He likes to mentor younger business owners. They come to his office and get new ideas about what it is possible to do across the years.
He just accepted a position as an Outside Board Member on a company that one of his younger business owner friends owns.
And he has lunch with some clients he became friends with over the years – another benefit of selling the business to his daughter Vanessa.
He also goes fishing more often with his fishing buddies. Plays tennis and golf with some other guys.
He and Lynn joined the country club in the town where their vacation home is. Laura has met a lot of people there – so they have new people to go to holiday parties and out to dinner with. And new tennis and golf partners.
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