The big question these days is, should we even call it retirement any more? According to a survey by the Transamerica Center for Retirement Studies: “Sixty-somethings and older workers are casting aside long-held societal notions about fully retiring at age 65.”READ ON THESTREET.COM
Which brings us to the question. Why are some people successful in those post retirement jobs or careers while others are unsuccessful.
Author and career expert Kerry Hannon says the people who are the most successful are those who have taken the time to plan the move, and have not made rash decisions.
“The successful ones take their time, moonlight and do the job first to lay the groundwork,” she says. “They start in baby steps before they leave their careers. One of the biggest reasons for the ones who find success in their encore careers: “They find something they can do where they feel a strong sense of purpose.”
Halverson says he has one client who retired and now spends his time teaching life skills and job training in inner city schools. “He feels a great sense of passion,” he says.
Another client had a successful career and did not need more money. His passion was to make things with wood. And he finds there is a good market for the things he makes. “For him, it’s not work,” Halverson says. “He can’t believe people pay him to do it.”
There are, however, people who fail.
Ultimately, trying something that is more of an encore business can be devastating, he says. “Not only could you not make money, but you may lose money,” he adds. “On the job side, people who aren’t so successful get in an environment in which they are not fulfilled. It is not in line with their passion. Or, they are around people who drag them down.”
Hannon says some people don’t succeed because they don’t know exactly what they want to do. “They have an idea, but haven’t flushed it out. You are not prepared without fully understanding what it takes to do that. It is critical to do your homework in advance and start as far out in advance as you can.
