by Elizabeth Zelinka Parsons, J.D., co-founder of Zelinka Parsons and Encoraco and author of “Encore: A High Achiever’s Guide to Thriving in Retirement“
A jubilation is a party — it’s a triumphant feeling of happiness. The word itself is derived from the Latin verb “iubilare,” which means “to shout for joy,” making it seemingly identical to the Spanish word “jubilación.”
So, what’s the twist?
In Spanish, “jubilación” doesn’t translate to “joy” or “party.” Generally speaking, it means retirement. It’s the period of life after work, which makes its etymological roots in happiness and celebration all the more fascinating. From this perspective, retirement isn’t defined as an ending, but rather as a celebration of new beginnings and new opportunities. This isn’t just some platitude. This is a truth built into the foundations of a culture’s language.
So, what’s the lesson?
That retirement is worth the hype — that it’s something to inspire excitement. Of course, the reasons why it should cause excitement varies from person to person. What’s more, depending on the workplace priorities one is leaving behind, the overall objectives of retirement might be completely different from one professional to the next.
After many years of studying retirement, I’m here to deliver the good news: Life after your first career can be jubilant for everyone. For the entrepreneur, retirement is a gateway to more freedom, more impact, and more values-driven decision making.
How is that possible? Let’s take a closer look at what makes retirement the perfect fit for startup professionals and small business owners.
1. Retirement is a playground for the entrepreneurial mind.
Imagine you’re building two sandcastles. On the first attempt, you have to build a structure within a certain set of guidelines. Not too high. Not too big. Not too weird. Then, for the second attempt, you simply need to build a sandcastle at the whims of your own creativity. It can be as high as you want, as big as you want, and as weird as you want. Both attempts are going to produce a sandcastle, but the second one is going to be much closer to your original vision.
Even the most entrepreneurial among us are confined by our careers. Maybe it’s because of your past successes. Maybe it’s because of your innate skill set. Maybe it’s because of the financial weight of a pre-retirement lifestyle. Regardless, compromise is almost always in the room with us when we’re brainstorming about our professional future — until now.
If you’re a successful entrepreneur, retirement is a wide open playground with virtually no limits on where to go next. For some, that can feel overwhelming. For those with a history of succeeding on their own, it’s a time to celebrate. It’s no wonder creativity is increasingly linked with keeping anxiety in check as you age. You have to be ready for the playground.
2. Retirement is a chance to invest in people — not just ideas.
Unlike the first part of your professional journey, retirement doesn’t have to be solely focused on scaling your businesses. It can also be about scaling your impact. Aside from the occasional consultant, mentoring and advising the next generation of entrepreneurs is never really the focus of an active professional. That’s unfortunate, given that 90%of those with a career mentor are happy with their job and over 70% of small business owners who receive mentoring survive for more than five years.
Fortunately, retirement makes it possible for some of the most successful entrepreneurs to give their time and wisdom to the business owners of tomorrow. For those who enjoy mentoring, this sort of advisory role can even become a second career, especially if your insights are unique and valuable.
3. Retirement is an opportunity to let your values take the lead.
Remember our friend, compromise? It’s back in the room.
Startup professionals and small business owners are lucky in that they are often the ones steering the ship. This means they’re free to insert their personal values into their businesses as they see fit. That said, those still striving for pre-retirement success need to strike a balance between what they want and what is empirically proven. Without the wisdom of those who have already succeeded, it can be difficult to completely commit to your values with confidence.
Conversely, retirement once again allows you to push compromise almost entirely out of the room. Part of the celebration inherent in retirement is the relief that comes with confidently putting your values first.
Get ready for a jubilant jubilación.
“Retirement” comes from a French word meaning “to withdraw,” and the Japanese equivalent means much the same thing. “Pension” or “pensionering” is the favored expression in Sweden, and it dates back to Latin words for “payment” and “installment.” None of these miss the mark in terms of the particulars of life after work. However, I think “jubilación” might be my favorite. It’s a reminder that there are reasons to celebrate the beginning of your next journey.
Have you found your reasons to get excited?
Elizabeth Zelinka Parsons, J.D., is a Retirement Transition Expert, lawyer, and co-founder of two consulting firms, Zelinka Parsons and Encoraco. Author of “Encore: A High Achiever’s Guide to Thriving in Retirement” (Feb. 5, 2025), Elizabeth combines analytical rigor with creative vision to help professionals redefine retirement as a dynamic opportunity for growth and fulfillment.