Ask Deb: I Don’t Want Another Executive Position

Hi Deb:

I was recently laid off from my executive role at a major financial services firm. As part of my severance, I am receiving executive coaching services, which include interview prep, a new resume, and a plan for networking my way into my next role. I am 58 years old. My wife and I have no debts, and our children are through college and on their own. My wife works full-time in the mental health field and loves her job. We are not ready to retire. However, I am not interested in another executive position. I was talking to my wife about it, and she pointed out how miserable I had been these last 3 years. I jokingly told her I would like to work at the outdoor store and talk to people about hiking all day instead! At this point, that’s much more interesting than reviewing financials and creating slide decks to present to the C-suite.

What I would like to do is to take my true passion—which is woodworking—and share it with the world. I don’t need to make huge profits. I just want to go to my workshop and create beautiful and functional things. I was thinking that my niche might be in making custom-sized cutting boards out of native species of wood.

My outplacement advisor is not on board with this at all. He told me that I would be wasting my talents in anything other than an executive role. I found that comment a bit offensive, but I wonder if it might have a kernel of truth. So my question is, am I selling myself short by not going into another executive role?

Thanks,

Phil

Dear Phil:

You are in an enviable position in that you want to work but don’t need to. You have a supportive partner, and you have a passion that you are able to follow. So many people do not have the options that you do. Are you selling yourself short? No! Of course not! You have the opportunity to truly do what you love. Let me ask you this: Which option will bring you joy? Another corporate job or devoting yourself to your woodworking? I think I know the answer. You are very fortunate to have these options. In your case, my advice would be to do what you love. You’ve had a successful corporate career and no debts; what is the risk? And you certainly don’t owe corporate America your time or mental energy. They’ve had that for close to 40 years. Embrace your passion. 

All my best,

Deb