Retirement Careers: A Controversial View

The article took a cautious tone. Don’t gamble all your life savings on a business. You won’t have time to recover from a massive failure (as you would at 20 or 30). And so on.

But as the article itself pointed out, sometimes you don’t have much choice. When we turn sixty, fifty, or even forty-five, the job market begins to fade.

Career articles try to convince us we’ll just love working in a bookstore, serving burgers or working long hours at a “part-time” job with no benefits and no path to promotion. Our number one goal, they would have us believe, is flexibility so we can go see the grandchildren whenever we want.

Now it’s fine with me if you have grandchildren and love volunteer work. But if you don’t fit the mold, you’re probably on your own.

When I was feeling restless while living in New Mexico, a well-meaning neighbor suggested, “Why not become a Pink Lady at the hospital.” Since my relationship to hospitals can be summarized as, “They’ll have to carry me in feet first,” I realized it was time to get serious about growing my business.

Here’s what I tell my own career-changing clients.

(1) Plan early for self-employment.

You have a window of opportunity from age 40 to age 50. Use that time to get credentials, move as high as you can in your professional field and grow your financial net worth.

From 50 to 60, plan what you’ll do for retirement – your post-career career.
You may want to spend thirty years with golf and fishing. You may choose employment rather than self-employment – and you may get lucky with a career you love. But I recommend creating a Plan B just in case you get frustrated, bored and/or restless.

(2) Rehearse for the Real Show.

While you’re still working, begin a self-employment sideline in a playful, “no big deal” spirit. And while you’re earning a good salary and stashing your cash, now’s the time to find mentors and hire resources. Take classes. Read books. Conduct informational interviews. Explore.

In my experience, choosing the right resources (and losing the losers) is what creates success.

(3) Count on the long haul.

I’m no medical expert, but I keep reading, “Fifty is the new 30. Sixty is the new 40.” Since I joined a weight training class at my local gym, those claims seem even more plausible.

Twenty or thirty years is a long time to set your brain on cruise control. When I talk to retirees, many seem bored, although they make fervent denials.

I vividly remember a former neighbor who claimed to be enjoying a comfortable retirement, living in his dream house with a view of the mountains. But he kept asking everyone about their lives (“What was the plumber’s truck doing outside your house? ”) and offering free advice on everything from finances to fertilizers. After awhile, we’d run when we saw him coming.

Another former neighbor became a recreational shopper. She had been a business dynamo and now her energies turned to retail. Her large home filled with souvenirs, books, clothes and memorabilia.

Me? I’d rather be working.