Baby boomers have been the trendsetters of society for decades, and what they want informs more changes than any generation has before. It makes sense that boomers should redefine retirement through encore careers. But a lot of people don't know what an encore career is or how the process works. The concept is working well for a lot of boomers. Here are a few reasons why:
A Backup Plan
Often boomers are the targets of layoffs because they tend to have the highest pay grades and are seen as having the least amount of working time left. If you think of it from the perspective of a 35-year-old boss, would you rather keep the trainable 23-year-old recent graduate or the 60-year-old boomer who may be perceived as out of step or behind the times?
For better or worse, layoffs and downsizing are still a part of the American corporate landscape. Many boomers who used to fear for their financial security have now found that encore careers in a new field or different positions in the same field can open up interesting opportunities to stay connected to the workforce. Employers are recognizing the value and expertise of boomers, too, opting for part-time or consulting assignments to boost areas of their businesses.
Building the New Three-Legged Stool
The old three-legged stool was Social Security, personal savings and a defined-benefit pension. Social Security benefits are not increasing alongside consumer prices and the entire program is running a deficit. Defined-benefit pensions are almost as extinct as the woolly mammoth. The national savings rate is near the lowest levels it has ever been, which makes encore careers the best way for seniors to build a new stool. Encore careers provide possibilities for part-time work, part-time entrepreneurial pursuits or even experimenting in career paths that you never even considered before, enabling boomers to let their savings to continue to grow.
Pursuing Your Passions
Encore careers let you retire from one workplace and start something entirely different. Perhaps you made a career in the sciences but you always felt that you had the charisma for sales, or maybe you considered being a programmer back in the '70s but didn't see a future in it at the time. While you can't live in the past, you can explore areas you are passionate about.
Enjoying New-Found Freedom
Working isn't always about exploring the path less traveled or keeping your head above water. Sometimes it's about meeting new people and having the freedom to enjoy yourself in new ways. You may have faced a lot of stress in your previous career, but the freedom of an encore career on your own terms opens up a lot of possibilities.
Learn more about being matched with employers seeking experienced talent for flexible employment opportunities.
photo credit: SalFalko via photopin cc
No comments:
Post a Comment