5 ways to give back during your retirement

After a career where bosses or client demands determined how you spent your time, where you applied your talents, and to a large extent, determined how much treasure you would accumulate, now you are in charge. You get to call the shots.

For many boomers, giving back is one of the most rewarding and fulfilling things to do. Let’s look at five ways to get the rush you crave when you give back.

Connect with Family - For most, the first place to give back is family. If your career demanded long hours and travel, you likely paid the price of less time spent with your family. Even if you weren’t at the office or on the road, perhaps many times thoughts of work robbed of you of truly enjoying and appreciating the joys of family.

Now, you have the opportunity to reconnect and be fully present. For many boomers, family means spending time with an aging parent, adult children, and grandkids.

Mentor the Next Generation of Workers - You have experience and perspective to share with young, tech-savvy talent. Smart, innovative, and well-managed businesses recognize the value of having boomers guide younger employees. For many looking for new ways to work and give back, mentoring is the perfect fit.

Take your Talent to the Next Level - Part of calling the shots means you have the chance to pursue the career you’ve always wanted -- even if it’s after your so-called “retirement.” Have a talent for management? For writing? Encore careers are gaining traction and there are many employers seeking your lifetime of experience.

Volunteer Your Time - Opportunities to volunteer are endless. You can do anything from donating a couple of hours a week coaching the local Little League team to traveling to a developing country to work in a rural health clinic. Here’s a Volunteer Guide to help you think about the possibilities.

Charitable Giving - If you have appreciated assets, such as stocks or investment real estate, it might make sense to give these assets away before your death to your favorite charity or cause. Depending on your financial situation, setting up a charitable trust may preserve the assets for charity and minimize taxes. Taking the time to plan and maximize the value of your assets for causes close to your heart is a deeply fulfilling way of giving back and creates a legacy that will live on.

Regardless of the time, talent, or assets you have available to give back in retirement, remember that you’re in control. Create a plan that fits your passions, values, and lifestyle goals.

Retirement Re-Invented: Boomers find meaning in their second acts

What did you want to be when you grew up? Perhaps a doctor, teacher, entrepreneur -- or something else. Well, now that you’re all grown up...are you again wondering what you want to be?

Now you finally have the time. You have a wealth of experience. You know what you like and dislike. You understand what you do well, and the things that you shouldn’t even think about handling. You realize what environments, people, and situations bring out your best... and those that are toxic and cause stress.

So, armed with experience, insights, personal understanding, and time, what’s next for you and your life? Will you choose to re-invent your retirement years and find new meaning in your second act?

Here are some people who did:

Medical School at Age 59
Here’s one example of what’s possible with a retirement re-invention. Imagine going to medical school at age 59. Well, Genevie Kocourek “retired” to a brand-new career. She retired from her IT job and enrolled in medical school at the University of Wisconsin.

Certainly becoming a doctor in your second act is a huge step that most boomers won’t take. But opportunities to find meaning exist. Consider these options:

Consulting - Consulting is an ideal way to put your experience to work on your terms. You know how to solve problems and add value. Now you get to make the rules on how you will deliver the value you bring.

Nonprofit work - As a seasoned executive, you can leave behind the pressure and stress of hitting your numbers and help serve society. Nonprofits need experienced leaders and managers. Search for nonprofit organizations that match your personal passions.

Teaching - If you love working with kids, a traditional K-12 school might be the perfect second act for you. Also, trade schools, community colleges, and even some colleges are looking for instructors with real-life experience rather than advanced degrees.

Start a business - After a career spent working for someone else, maybe you’ve always dreamed of having your own business. Check out franchise opportunities, or explore how people are earning money with new technology.

“People are now earning income in ways that we never could have even imagined just a few short years ago,” said Nancy Collamer, author of Second-Act Careers: 50+ Way to Profit From Your Passions During Semi-Retirement

Your own personal passions, lifestyle goals, and finances will determine the right fit for you. So, now that you’re a grown up, what do you want to be?

Planning an unconventional retirement of passion and purpose

“Boys, you must strive to find your own voice. Because the longer you wait to begin, the less likely you are to find it at all. Thoreau said, 'Most men lead lives of quiet desperation.' Don’t be resigned to that. Break out!" - Robin Williams in the "Dead Poets Society"




The recent death of fellow boomer Robin Williams shocked many, especially those of this generation. Wasn’t Robin Williams living his passion? He made us laugh. His characters touched us. He had wealth and fame. He oozed passion in every minute we saw him on screen. He touched thousands personally with kindness and caring.

Yet, we now learn Robin Williams was leading his own life of “quiet desperation.”

If you’ve had career success as a doctor, attorney, or engineer, you’ve led the “noble pursuit.” You had purpose. You provided for your family. You healed the sick, helped find justice, or figured out how to make things work more efficiently.

But did you have passion?

Now is your chance to unleash your inner “poet” and live your passions.

Check out these resources to catch a spark:

Find Your Retirement Passion- Teaching disabled skiers? Wildlife protection advocate? Genealogy researcher? Teaching others computer skills? Organize a book or investment club? Check this out to get some real life ideas from what others are doing.

How to Find Your Passion in Retirement- Discover the three simple questions to ask yourself to live a passionate retirement.

Find Your Retirement Passion- Learn why it’s important to “try on” your retirement passion and wear it for a bit to see if it really suits you.

Boomers, Ladies and Gentlemen, will you now strive to discover the voice hidden inside you?
Here’s the thing... the longer you wait to begin exploring and learning about your passions, chances are you’ll never discover them.

Your life can become a mix of your career passion and your leisure passion. Now is the time to write your verse.

Boomers lead the way in mentoring new generations

Are you looking for a great way to give back and continue to grow and learn? Chances are that you have the skill set to be a model mentor. You have experience, talent, insights, and time to help mold and shape the next generation of tech-savvy workers.

Why are boomers model mentors?

According to Brock Whifield of Catch Your Limit Consulting:

“Baby boomers are optimistic, team-oriented thinkers, so if they see a new employee begin to struggle, they're quick to help them get back on the right track in order to get the team working at full capacity. Their optimism is a great motivator, and rubs off on the new employee, which in turn raises company morale."

This generation is made up of team players and great collaborators. Research confirms this fact. These skills are perfect for companies looking to tap the experience and talents that boomers can bring to the table in guiding the next generation of employees.

Millennials Need Boomer Mentors
Millennials - people born between the early 1980s to the early 2000s - (in many cases, children of boomers) are taking over the workplace. They view their work as a key part of life. They seek challenging and fulfilling work. They expect a lot from their employers and themselves. They want to over achieve, but to make this happen, employers must make sure Millennials are engaged and fulfilled.

Millennials need a roadmap, someone to guide them to success. Many times, current managers are spread too thin or lack the work experience or perspectives to provide the career guidance Millennials want and need.

Smart companies realize boomers have the time, experience, and insights needed to show Millennials the roadmap to success.

Boomers Feel the Workplace Pains of Millennials
When Bbomers reflect back to the start of their careers, they realize they share many of the same values as Millennials. Many boomers starting out in careers 35-45 years ago were worried about getting stuck in unfulfilling careers and work that didn’t make a difference. They wanted the opportunity for class mobility based upon career achievement.

While Millennials today use different tech tools to communicate and sport different hairstyles and fashions than those from the workplace in the ‘60s and ‘70s, they share similar values and aspirations.

Mentoring Millennials is a critical task for innovative companies and organizations. Boomers are the perfect fit to provide the guidance and support that Millennial employees and companies need.