Over their lifetime, individuals face various career transitions. One transition that may not be a frequent focus in career counseling is the process of retiring from a long‐ or short‐term paid employment role. Sources indicate that thousands of individuals will be dealing with pre‐ and postretirement decisions. This article demonstrates how a well‐known career theory can be used as a framework to assist individuals, considering the next steps in their postretirement stage. Key theoretical concepts are connected to decisions associated with this life phase, and examples of theory‐based tools that can be used as part of this process are highlighted.