Today’s post may not resonate with every reader—for some it may feel premature, and for others, firmly in the rearview mirror—but it’s a topic worth reflecting on, sooner or later.

I subscribe to a number of e-newsletters, and a while ago, Tracy Chamberlain Higginbotham, Founder of Women Ties, wrote about an experience many friends and acquaintances have quietly wrestled with.

Tracy is about to turn 60 and has recently chosen to semi-retire. She’s stepping back from taking on new clients and participating in business events. It was a decision she felt good about—until she sat down to do her taxes. In that moment, the full weight of her choice became clear. After 30 years of steadily growing a business devoted to helping female entrepreneurs succeed, the upward revenue curve had unmistakably begun to slope downward.

While semi-retirement was entirely her decision, it also served as a powerful wake-up call: it was time to consciously refocus on the people, life choices, and non-business pursuits that matter most to her.

Most of us closely identify with our work—and with the income it generates. In many cases, that identity is something we’ve chosen, unless circumstances dictated otherwise. Even when we don’t love a particular job, the skills, expertise, and experience we accumulate over time become woven into our sense of self. And often, the more we’ve loved our careers, the harder it becomes to imagine who we are without them.

I’ve watched people I know transition into retirement. Some take to it effortlessly. More, however, are surprised to discover how difficult it can be to redefine themselves and find a new “happy place” once their long-held professional identity is no longer front and center.

Those who seem to thrive are the ones who’ve cultivated interests beyond their careers—new hobbies, volunteer work, diverse friendships—or who’ve found ways to channel their experience into new adventures aligned with what they most enjoy.

It’s also worth remembering that the numbers on a spreadsheet or tax return say nothing about your value as a person.

So whether retirement feels near or far off, it’s worth recognizing that life planning deserves as much care and intention as financial planning.