Financial planning tools and services to put you on the path to the future you want
Your guide to financial planning and retirement
Connect with peers and experts
Get to know the people behind the company and the mission behind the work
Offer financial wellness to the people at the heart of your business
July 8, 2015
The skills you earn today can lead to a whole new career tomorrow.
Retirement doesn’t mean what it used to, at least not for everyone. There was a time when leaving work meant winding down for good. Now, it’s often just the beginning of a whole new life phase, one where you can learn new things, put established skills to work, and supplement your retirement income in a meaningful way.
The vast majority of people now say that they want to build on old skills and learn new ones after retiring. That’s what a 2008 AARP study, “Investing in Training 50+ Workers: A Talent Management Strategy” revealed. With an “encore” career, you can do that.
Here are 2 people who did, and never looked back:
Great people skills are an asset to any company.
Financial Pro Turned Elderly Caregiver
Cheryl Delaney had spent most of her pre-retirement career working in the financial industry. She worked as a bank officer, loan administrator, and as an investment firm office manager, according to the New York Times. She never thought that she’d have a new career after retirement, much less one in such a different field.
When Cheryl retired, she did actually totally relax for a while. But all of the down time turned out to be less enjoyable than she’d imagined. After a few years of not working, she decided to find something productive to do.
While she was still employed, Cheryl had looked into retirementjobs.com. She entered her information, but then mostly forgot about it. As luck would have it, she received a call from a related company named “Mature Caregivers,” which was searching for people over 50 to work in an assisted living center.
Although Cheryl balked at the idea at first, given that her experience was far removed from caregiving, she decided to give it a shot. And it’s a good thing. Like many other retirees, she learned that a post-retirement career doesn’t have to align perfectly with what she’d done in the past. Her people skills translated, and she now has a new job that she truly enjoys.
Your education and experience could make an excellent teacher.
IBM Engineer Turned High School Math Teacher
Keith Gordon had always planned to retire from his position as a systems engineer with IBM at age 66. But that didn’t turn out like he’d expected. Like some other companies, IBM offers a service to employees who are nearing retirement age. It’s called, “Transition to Teaching.” And although Gordon hadn’t thought about teaching before, the program got his attention.
Transition to Teaching helps current IBM employees find a second career as math or science educators after retirement. But it’s not a referral service. They offer employees up to $15,000 toward earning a teaching certificate while they’re working as student teachers. And at age 61, that’s the route that Gordon took, says Carole Fleck for AARP.
Gordon explains, “Now I’m thinking 66 is so young, I can easily imagine teaching well past that.” Indeed, many people who would traditionally have been retired and not thinking about work at all have found that this is no time to slow down. People live longer and healthier lives now than ever before. So there’s no reason not to find a new career and earn retirement income if you’re able and have the desire.
Nancy Collamer, author of “Second-Act Careers” and semiretirement expert, tells the New York Times, “There’s a real myth around reinvention, particularly when you talk about people in their 60s and 70s.” It’s not about a total reinvention; it’s about reworking the skills you’ve acquired and finding another place where they fit.
Some think of a post-retirement career as a great way to earn more income. And some just aren’t ready to slow down. Regardless of why you might not want to give up working for good, there are plenty of options available. They might not be in the same field where you’ve spent your previous career, but the skills that you’ve earned are likely viable in a wider range of industries than you ever knew.
What is Your Real Life Retirement Story?
NewRetirement can help you understand what you’ll need to retire, and whether a new career later on might give you the extra retirement income that you need. The best place to start is here. Check out our retirement calculator and see how your plan stacks up.
Do it yourself retirement planning: easy, comprehensive, reliable
Take financial wellness into your own hands and do it yourself retirement planning: easy,
Share this post:
Our weekly newsletter full of inspiration, podcasts, trends and news.
© 2024 NewRetirement, Inc. All rights reserved.
Disclaimer: The content, calculators, and tools on NewRetirement.com are for informational and educational purposes
only and are not investment advice. They apply financial concepts in a general manner and include
hypotheticals based on information you provide. For retirement planning, you should consider other
assets, income, and investments such as equity in a home or savings accounts in addition to your
retirement savings in an IRA or qualified plan such as a 401(k). Among other things, NewRetirement
provides you with a way to estimate your future retirement income needs and assess the impact of
different scenarios on retirement income. NewRetirement Planner and PlannerPlus are tools that
individuals can use on their own behalf to help think through their future plans, but should not be
acted upon as a complete financial plan. We strongly recommend that you seek the advice of a financial
services professional who has a fiduciary relationship with you before making any type of investment or
significant financial decision. NewRetirement strives to keep its information and tools accurate and up
to date. The information presented is based on objective analysis, but it may not be the same that you
find on a particular financial institution, service provider or specific product's site. All content,
tools, financial products, calculations, estimates, forecasts, comparison shopping products and services
are presented without warranty.