Kerry Hannon recently spent time with five retirees to learn how their post-retirement work is bringing meaning to their lives and making a difference in the world, even as the coronavirus pandemic rages. Here are their stories.
Assess when, how and if you plan to retire. Many of us want to keep working beyond a traditional retirement age for the mental engagement as well as the money. You might be thinking of retiring from a primary career and launching an encore one or even starting a business. Once a year, think through your plans.
“The self-employed have an inspiring vision of aging and retirement,” Catherine Collinson, CEO and president of the nonprofit Transamerica Institute and Transamerica Center for Retirement Studies, told me. “Compared with employed workers, the idea of retirement isn’t as relevant, because they have far greater freedom to continue working — or retire — on their own terms.”
Work with younger generations. The real fountain of youth is the fountain with youth, according to Marc Freedman, founder of Encore.org. Find ways to connect with younger generations through mentoring, tutoring or coaching.
Many retirees do not have a plan. And for those who encounter retirement earlier than expected because of a health crisis or downsizing, facing the new reality can be rocky. Isolation and loneliness can emerge.
“It enables them to earn income, continue saving for retirement and bridge savings shortfalls — with more free time for personal pursuits,” says
Catherine Collinson, CEO and president of the nonprofit Transamerica Institute.
Writes Vera Gibbons: Encore careers are becoming increasingly popular in retirement. In fact, according to a study by CareerBuilder, nearly 60 percent of workers who are age 60 or older anticipate looking for a new job after retiring.
The barriers to accumulating wealth for women are daunting. Recommendations from a Senate hearing and a think tank briefing. The financial challenges women face to achieve financial security in retirement can be huge, as a Senate Special Committee on Aging hearing and an Employee Benefit Research Institute (EBRI) briefing last week demonstrated starkly. And with the […]
Kerry shares her perspective and advice on: interesting work options that people may not consider, the key challenges workers over 50 face today and how to best prepare if you want to work longer
There’s something romantic about the term entrepreneurship, especially when you’re considering starting a second act. The chance to be your own boss and spend your time doing work you love may seem enticing. But it can also be reckless. “For those who choose to jump into the game when they’re 50 years old or older […]