Retirement

Your Final Career

At some point we all think about retirement (if you are a Baby Boomer you are probably giving it serious thought) however most of these thoughts revolve around a way of life that we shouldn’t live. This forum would be remiss if we failed to discuss planning of the final career – yes, that’s right – it isn’t quitting a job or stopping work, it is the beginning of a new career. The Post-Employment Career!

Consider the case of Rudolph. In 1988 he was asked when he planned to retire – his reply was that he had no intentions of doing so as those people that did often died too soon. The question was fair as he was 86 years old when it was asked. Rudolph rightfully pointed out that the obituaries were full of people with careers that had ended after spending a lifetime committed to a profession or field.

For whatever reason he decided not let a birthday dictate life decisions, so when 65 came - it was just another day to celebrate for him.

For the next five years Rudolph continued to work about 18 hours a week at a job that he loved. His work kept him active, engaged, and out of his wife hair at least three days per week. His schedule allowed plenty of time for his family, exercising, hobbies, travel and completion of the never-ending honey-do list. He also continued to earn an income that extended his earning years. Honestly it was the most perfect balance that one could achieve in post employment career.

As it turns out Rudolph’s assessment of the situation was spot-on. Consider a case study of Shell Oil employees that decided to retire early. In October 2005 findings were released showing that early retirement translated into early mortality for those 60 or younger. In a prospective cohort study of thousands of employees who worked at Shell Oil, the investigators found that retiring at age 55 doubled the risk for death before reaching age 65, compared with those who toiled beyond age 60 (read more…)

So follow Rudolph’s lead – don’t retire! At least not totally.

Consider the post-career professionals that work as Wal-Mart Greeters. Surely some need the money, but many are working there because it gives them a chance to remain active and connected to something. Rather than riding the sofa, they have short visits with old friends everyday - not to mention the new friendships they have the chance to develop at work. Having to maintain a schedule keeps balance in their lives plus it gives them a feeling of being needed.

Before you decide if it is time to leave the ranks of for the full-time employed, there are a few things to consider - what you will do with your time? Most of us focus on the financial calculations of our final career that we fail to actually plan what we want to do when the time is right. If you think that your love for one or two hobbies is enough to occupy your time, take a moment and read this article on “What will fill your days”. After reading this you might want to readjust your plans!after reading this.