Encore Careers in Unlikely Places

Monday Morning Pep Talk

Working past the age most people retire improves the chance that you won’t outlive your money. 70 is the target age to stop working according to a study from the Center for Retirement Research and was reported in the most recent issue of Money magazine. One of the big questions I am asked both online and at presentations is, “who will hire me at 64 (insert any age 50+)?” Actually there are jobs for older workers and as the economy continues to improve more and more people who dropped out of the workforce are finding there way back. Here are suggestions and if you know great careers for experienced workers, please share. I would love to hear about them.

• Work for Yourself: You don’t have to begin Kentucky Fried Chicken like Harlan Sanders did when he was 65. You could turn a hobby into a business or use your business expertise to provide consulting. I know a couple in their mid-50s who quit their corporate jobs to start a promotional item/event planning business that carried them into a more secure retirement over the next 15 years. If you have the good health, energy and risk-tolerance to start a big business, go for it! Remember my friend chronicled in this post who began a vineyard after a 25 year career in medical sales?     http://workinglater.blogspot.com/2011/11/turning-your-passion-into-career.html   I’ve heard real estate, professional organizers and home stagers are new favorite encore careers that will require certification and/or licensure to be competitive.

• Teaching: Yes teaching! It is not what it used to be. There are so many options. With a Master's degree you can teach at the community college level in your area of expertise. Many time your students are also non-traditional, so you are interacting with people who want to be in class hearing the knowledge and experiences you have to share. You can also teach online in your bunny slippers and no one will know. One of my “retired” neighbors teaches a few days a week at a preschool and she loves the interaction. Visit ccteach.org to learn more about teaching at higher grades.

• Health Care: While some positions in health care are being downsized, there are entire new health care job functions being created. Jobs for patient navigators or patient advocates are worth looking into if you like the idea of helping people and have an interest in health care. There are certification programs to make you more competitive. You can learn more by visiting the National Association of Healthcare Advocacy Consultants.

• Government Work: Am I crazy? No, I am not. Check USAJobs.gov to see which agencies are hiring in your area. I met a woman who mid-career decided that a government position would provide her the pension that none of her corporate jobs had offer even thought she spent 18 years in the workforce. So, she transferred her corporate training skills into a position with a federal agency and transferred to the Department of Homeland Security when we met. That agency didn’t even exist when she moved into the public sector. Since its inception in 2002, the Department of Homeland Security employs 240,000 with an annual budget of $60B in fiscal year 2013. Oh yeah, and that pension…they still have them through the Federal Employees Retirement System (FERS).

Think creatively about encore careers especially if could not imagine doing your current job until age 70. You may want to go back for certification or training earlier (in your 40s or 50s) to make yourself more competitive and prepared for a new career when you are ready to make your move. Also, watch out for scams offering training, certification or education that sounds too good to be true.

The Early Retirement Myth, Part Two

Early feedback from part one of this series was clear, retiring early is a myth of youth. The more years we work either as an employee or an entrepreneur, adults realize retiring at forty or fifty-five years-old is an illusion. An e-mail I received this week summed up the myth, it read:

“...if you have the smarts, passion, energy and focus

to achieve the financial resources needed to retire at 45 or 55

and live another forty years; you are by definition a driven person.

The same goal-oriented, successful individual is not going to be

satisfied with what you term a “3-G” retirement...”

Many times “early retirement” is a euphemism for trading in an unsatisfying job or career for work that is more meaningful and rewarding. It is not about ending employment to spend forty years on the beach relaxing; it is about reinventing yourself and discovering happiness in the second half of your life. Life after fifty looks different for everyone and the options are endless. You can continue to work if you like your job and the company values the expertise of mature employees. There are more options to work from home as technology improves or to have a flexible work schedule if you must go into an employer’s building. All of these changes make it easier to continue working into your 60s and 70s if you choose.

Over the years, I began to view the retirement life stage more  holistically including health, financial well-being, satisfying relationships, meaningful activities whether they are paid or unpaid, physical activity and spirituality. As the global economy sputters towards recovery, the financial impact of retiring early cannot be ignored. According to the Census Bureau in 2010 nine percent of U. S. senior citizens lived in poverty. A global income study, Elder Poverty in an Ageing World, by a team of researchers (Smeedling et. al) was published in 2008. In their study, the United States had 25% of seniors over age 65 in poverty leading Australia, United Kingdom, Italy, Germany, Sweden and Canada with 6 percent based on 2000 data.

I know many workers experienced forced “early retirement” through a lay-off, company shut-down and unexpectedly being terminated from employment in their 40s and 50s. “The element of surprise is the worse feeling,” according to one 50+ blog reader that emailed me about their small town plant closing last summer. The human resources professional did not see it coming. New owners acquired the manufacturing plant two years ago and assured the senior management team their operation was performing satisfactorily two weeks before filing the WARN Act (impending plant closing) paperwork. Recently I received an e-mail through LinkedIn. The 54-year-old former HR Director found work at a higher salary after a four month job search, lots of networking and earning certification in her HR specialty. In the past few months, more experienced workers are finding good jobs again. One blog reader recently purchased a franchise after reading the post in July, performing their research and contacting Jim Gleason.

http://workinglater.blogspot.com/2012/07/buying-franchise-is-it-right-for-you.html

Maybe early retirement is an oxymoron. What is your plan for your life after work? Retiring early? Share your views in the comments section anonymously if you prefer.  I'm interested in hearing from you.

 You have 168 hours, make it a great week!