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.