Tag Archives: Barbara Walters

Should I Stay, Or Should I Go?

JoAnne Norton
JoAnne Norton

My nearly ninety-seven year old mother-in-law has an intriguing quote displayed prominently on her refrigerator at her home in Calgary. “One of life’s most important decisions is when to begin middle age,” it reads. My husband’s young-at-heart mother often reminds me on our evening phone calls that we’re only as young as we feel.

Today we can work as long as we want to, especially if we are blessed with good health, a clear mind, and our own business. But how long should we? That’s one of the many questions members of the senior generation sometimes ponder in the middle of the night and sometimes discuss with their spouses in the middle of the day.

Would the business be better off with or without me, they wonder. Do I continue to add value? Are my ideas still relevant? What if I raise the subject of my retirement and then change my mind about leaving?  How do I deal with the pain in my heart as I consider letting go of something so dear?

The next generation grapples with its own set of challenges. How long can they afford to carry someone who they perceive is no longer pulling their weight? How do they bring up the topic of a parent’s retirement without sounding ungrateful or uncaring? How do they ignore the gnawing in their gut as resentment grows and the silence between the generations becomes deafening?

The good news is that we’re living longer, we’re staying healthier, and we’re looking better than at any other time in history. So we must now wrestle with the question of when or even if to begin a new chapter away from work—a better chapter than our parents and grandparents have ever had the opportunity to write. This is new stuff for both generations, and we’re short on role models, experience, and theories.

Barbara Walters was still working at age 84, but could we? Should we? In a family business both generations need to have candid discussions periodically at both the family and the board levels regarding retirement. The decision about when a parent should move on drastically depends on the industry as well as the desires of both generations for the future.

Sometimes these conversations are already taking place, not with family members in the senior generation who are mulling over what they might do next, but among frustrated future owners. Whether they are thinking about grandparenting, golfing, starting a charity, or beginning to play Chopsticks it is crucial for parents to share their plans, so their adult children can make theirs. Both generations will be much more open to this discussion if it is approached with patience, appreciation, and love.

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What’s The Best Way To Say Goodbye?

JoAnne Norton
JoAnne Norton

Barbara Walters was one of my earliest childhood heroes. I remember watching her on our first black-and-white television set very early in the mornings, the only woman in a large cast of men. I cheered when she became the first female anchor on an evening news program, though ultimately that did not turn out well for her, and I was absolutely delighted when she created “The View” featuring strong, articulate, funny women.

Like millions of viewers, I’ve watched her retirement process over a number of years as she slowly cut back the number of hours she worked and the programs she did. Last week, I saw her final regular appearance on “The View,” which featured much fanfare as everyone from heads of state to international celebrities paid homage to Walters, who has changed our world in so many significant ways.

Saying goodbye and thank you to people who have had a profound affect on us is crucial for them and for us because the impact has ramifications on those who are leaving as well as those who are left. Nowhere is this as important as in a family business. When the family leader of a family business retires there most likely will not be appearances from celebrities nor buildings named in their honor, but it is vital that they have a proper send off.

When I began studying Murray Bowen’s Family Systems Theory at the Georgetown Family Center in the late 90s, psychologist Dr. Polly Caskie presented research suggesting that the future health of the retiring leader and the family itself was dependent on the celebration at the end of the career. For that reason, Polly said there should be presentations made from representatives of three specific groups: the business, the community, and the family. Leaders, like all of us, needed to know that their lives mattered, that their many sacrifices had been worth it, that they had made the world a better place, and that their family, especially the spouse and children, appreciated them. She hypothesized that the time, energy, and expense would be more than worth it to the future health and happiness of the retiree.

What reminded me of Polly’s sage advice after so many years was something Barbara Walters said on Friday, May 16th, on “Good Morning America.” She commented that she had remained dry-eyed as she had listened to all of the accolades from state heads and stars until she had received a message from her daughter, Jackie, who had written the night before:  “I just wanted to say I was thinking of you tonight. Tomorrow is a special day. You have impacted this world as very few can. This is a transition towards a new journey. I love you and wanted you to know how proud I am of you.” That’s when Barbara said she finally cried.

At the end of the day, no matter how big our business is, how many lives we’ve touched, how much we’ve changed the world, it is the love of our family that matters most. That’s why it is so important to say goodbye and thank you at the right time at the right place in the right way.

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