Traditional Retirement is Dead by Rico Dilello

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Traditional retirement is dead by Rico Dilello

Do you ever wonder if the senior who greets you at Walmart is bored in retirement or needs the extra money? How about the senior that rings in your groceries or takes your order at your favourite coffee shop? The very idea of working and then saving as much as possible so you can have a life of leisure during your golden years is as quaint as a horse-drawn carriage.

Many seniors want a reason to get out of bed in the morning and are diving into encore careers that offer a chance to make some extra money with more flexible hours. Three concerns driving this trend are: Retirees want to create a financial safety net due to fears of outliving their nest egg, they want to pursue something meaningful and they want to avoid being bored.

Some opportunities in business services:

  1. Consultant – Many of my friends were offered a consulting contract from their former employer.
  2. Interim Executive – There are professional services firms that can place people in temporary executive positions.
  3. Bookkeeping
  4. General office duties
  5. Part-time sales help

Some opportunities in consumer services

  1. Genealogy or personal historian – help customers write their memoirs and trace back their family tree.
  2. Pet services – dog walking and pet sitting
  3. Tutor different subjects or teach music
  4. School bus driving or crossing guard
  5. Freelance writer – resumes, grant proposals

While encore careers can be highly satisfying for retirees, you need to make sure you doing it for the right reasons. Find something that excites you. Maybe there was a childhood dream that you’ve long ago dismissed as not practical or nearly forgotten about. Use these as inspiration to find a way to contribute that makes you feel great about yourself.

Don’t be afraid to learn new things. Some encore careers may require additional classes or training, so retirees looking to dive into new fields should invest in their education. Do crunch the numbers. While a paycheck shouldn’t be the driving force behind an encore career, it’s still crucial to consider the financial consequences. Do as much homework as possible, turning a passion into a business venture could turn out to be a very expensive hobby.

The majority of seniors want to be relevant. They want to be needed. They want more than just occasionally baby-sitting their grandchildren. Work isn’t a four-letter word, if you love what you do.

By Rico Dilello

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