{"id":6011,"date":"2016-11-23T09:03:46","date_gmt":"2016-11-23T13:03:46","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=6011"},"modified":"2016-11-23T09:04:19","modified_gmt":"2016-11-23T13:04:19","slug":"do-you-have-a-plan-for-working-in-retirement","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=6011","title":{"rendered":"Do You Have a Plan for Working in Retirement?"},"content":{"rendered":"
\"download\"<\/a>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.”<\/div>\n
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The report, Retirement Throughout the Ages: Expectations and Preparations of American Workers<\/em><\/a>, says 82% of Americans surveyed plan to or are already working past age 65, or, they have no plans to retire.<\/div>\n<\/div>\n<\/div>\n
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Justin Halverson, of Great Waters Financial in Minneapolis, says he has seen the trend among his clients. “They either want to do it for the money or they just want to stay active, stay engaged and look for social interaction and social purpose.”<\/div>\n
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READ ON THESTREET.COM<\/a><\/strong><\/p>\n

Which brings us to the question. Why are some people successful in those post retirement jobs or careers while others are unsuccessful.<\/p>\n

\u00a0According to financial planners and jobs experts, the keys to having that successful encore career are purpose, passion and planning.<\/div>\n
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\"Kerry-Hannon-1\"<\/a>Author and career expert Kerry Hannon <\/a>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.<\/strong><\/div>\n
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“It takes three to five years to set yourself set up in an encore career,” she says. “You need to add skills you might need, network and find out what the job is about. Also, get financially fit and pay down debt so you’re not dependent on making a lot of money.<\/strong><\/div>\n
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“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.”<\/strong><\/p>\n<\/div>\n<\/div>\n

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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.<\/p>\n

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.”<\/p>\n

\u00a0Joe Heider, president at Cirrus Wealth Management, says most of his clients either completely retire or continue to do what they have done all their lives, but in a consulting role. One client in particular, a physician who was burned out on his medical practice, ran for office and became a county coroner. He did that for 15 years and is about to retire from that second career.<\/div>\n

There are, however, people who fail.<\/p>\n

“Some people try things outside of their skill-set or core competency,” says Halverson. “I had a client who was retired military who wanted to get into real estate. He had no business going into real estate. He did it at the wrong time.”<\/div>\n
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