Re–Engineering Retirement

Career Reinventions and the New Retirement Workscape

According to the latest retirement study by Merrill Lynch “Retirement used to mean the end of work. But now we’re at a tipping point: a majority of people will be continuing to work after they retire – often in new and different ways.

With the focus of financing retirements shifted onto retirees, it was thought that through new developing investment strategies such as property investment and digital currency trading (Bitcoin kaufen Sofortüberweisung as they would say overseas) that many could fund a comfortable retirement. Though with the recent economic climate, many are locked out of this option and have no choice but to continue working after they retire. Of course, most people will be entitled to some form of retirement benefits, which they will be able to claim through their local social security office, such as the various Social Security offices in Iowa. But not everything is as it seems, as some apparently choose to work not for financial issues but for stimulation and a want to work as the following survey shows.

Nearly half (47%) of today’s retirees say they either have worked or plan to work during their retirement. But an even greater percentage (72%) of pre–retirees age 50+ say they want to keep working after they retire, and in the near future it will become increasingly unusual for retirees not to work.” Even when many people move into senior living living communities, they choose to keep working in many instances.

This new phenomenon is driven by four forces:

  1. Increasing life expectancy, which has produced a retirement that can last 20 years or more.
  2. Elimination of pensions for most workers, shifting the burden for funding retirement from employers to retirees. This is why many retirees think about investment strategies as a source of retirement income.
  3. Recent economic uncertainty, which has been a wake–up call for many people that it is not financially sustainable to retire without some employment income. For others, they simply do not have money to retire for more than a month.
  4. Re–visioning of later life, as new generations seek greater purpose, stimulation, social engagement, and fulfillment in retirement.

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If you are approaching the “pre–retirement” or “career–intermission” phase, that is over 50 and wanting or needing to continue to create income, we can help you. Our complimentary business coaching focuses on your next phase and the options open to you while you consider all of your options. Join us for our upcoming Webinar.

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