Skip to Content

Celebrity Retirement Scorecard: Dan Rather

More
Text SizeAAA

Filed under: Retire, Career, Wealth, Recession

Who is making it? Who is not? We've concocted retirement scorecards for some showcase retirees in entertainment, politics and sports. See the full list here.

Dan RatherLoser: Daniel (Dan) Irvin Rather, Jr.
Former occupation/notable position held: Anchor, CBS Evening News
Activities during retirement: HDNet Personality; litigant
Retirement Report Card Grade: D

Don't feel bad if you've never heard of HDNet, a high-def cable network bankrolled by Internet mogul Mark Cuban. But you are sure to know one of its hosts, Dan Rather.

Channel 798 (give or take) is certainly not where the 76-year old journalist envisioned spending his career's sunset, and it may seem sad or justified depending on your feelings about the often polarizing newsman. His original script may well have called for a king-making hand-off to a new occupant of his CBS anchor chair, occasional contributions to 60 Minutes and maybe a few healthy book advances, which is the kind of retirement fun Tom Brokaw is having.

Nowhere to be found in that script was very publicly suing his longtime employer for violating his contract. CBS forced Rather to step down as anchor in 2005 as part of the fallout from a disputed report on President Bush's military service aired during the run-up to the 2004 election.

While Rather's circumstances are extreme in both nature and profile, retirement is packed with altered expectations and changes of plans. The question becomes how prepared you are to accept those changes and to make adjustments. That starts with the right kind of introspection, and getting a handle on how you've handled stress and transition in the past. The quality of your social network, and your ability to take good advice from those you trust matters a great deal too.

Rather's retirement grade of D owes not to his diminished media stature, but to the quite surprisingly undignified way he's handled the whole affair. He did anything but adjust positively to new circumstances.

You have to figure a concept like legacy means something to an out-sized personality such as Rather. But most every action he's taken since parting from CBS runs counter to being remembered for a career populated by some extraordinary journalism, particularly covering the JFK assassination, Vietnam and Watergate.

But hey, the media is famous for bringing back its own to get a much-needed ratings fix. (See "Albert, Marv") In the wake of Katie Couric's abysmal viewership, perhaps CBS head Les Moonves need look no further than her chair's former occupant. Now that's what you'd call creative lawsuit settlement.

Michael Burnham is CEO of My Next Phase, a consulting firm offering non-financial retirement planning products and services (www.mynextphase.com).
Subscribe to Walletpop

Reader Comments (Page 1 of 1)

Featured Sponsor

Will you spend as wisely as you save?

If a 65-year old couple retires today, how much savings may they need now to cover future health care costs?



Ensuring a Safe Manicure and Pedicure
Millions of women (and a few men) visit nail salons regularly to have their nails done. ...
Lalique and Haviland Open Flagship Boutique
Two of the most prestigious brands in the luxury industry have joined forces to open a flagship ...

Ask Me About Retirement

Dan Solin

Do you have a question about retirement? Ask our retirement expert Dan Solin.

Megan Angelo
Megan Angelo Filed under: Shopping

Your own personal shopper -- free -- at J. Crew

The phrase "personal shopper" inherently has a certain air of snobbery about it, calling to mind that wealthy aunt who always bought the best Christmas gifts but whose over-the-top get-ups elicited ...
Julia Scott
Julia Scott Filed under: Bargains, Saving Money, Bargain Babe

Lots more coupons coming to WalletPop!

I'm a new blogger at Wallet Pop and my name is Julia. My goal is to post the best coupons for all the everyday stuff you buy, like groceries, clothes, and meals out. The little stuff ads up, after ...
Julia Scott
Julia Scott Filed under: Bargain Babe

Free diapers for an entire year

Sign up to receive emails and news from Pampers.com and you could win an ENTIRE YEAR of free diapers. That means your bundle of joy just got a lot cheaper. Why join Pampers? You'll get rewards ...
Laura Heller
Laura Heller Filed under: Shopping, Technology

DVD wars come to online retailers

First books, now movies, the price wars between the biggest retailers just keep getting hotter. Walmart, Target and Amazon are all slashing pre-order pricing on some hot new releases like "Harry ...

Retirement Basics

Retirement Basics

Should I Convert My IRA to a Roth IRA?

$
$

Headlines from WalletPop Partners