A New Plan for Retirement: Get a Second Career

Friday May 29, 2009

Three converging forces are presenting Americans with a tremendous opportunity.

First: the deep recession that has been with us for the past six months, with national unemployment nearing double digits. Second: the "silver tsunami" of baby boomers -- a 78 million-strong wave of Americans is entering retirement age. And, third: there has been a psychological shift in terms of how Americans view retirement.

The concept is fully explored in a 2007 book, ENCORE, written by Marc Freedman.

With 20 years or more of additional expected lifespan, our vision of retirement as a time to relax and play golf for a few years has changed. Now, with more time to fill, people are searching for meaning for their lives. Often, meaning is associated with work and a purpose for getting up in the morning: some even say that working increases your lifespan.

The convergance of these forces offers great opportunity. People can now -- with some classroom work added to their lifetime experience -- access a new dimention of enrichment: a whole new second career.

What if the job you held for 30 years was not fully satisfying? You now can become an ENCORE 2nd career pioneer. Finish that bachelor's degree. Earn that master's degree. Become a lawyer. All of the above is not only possible but palpable. At 60, you could invest in 3 years of law school and go on to practice for 10 years or more.

If you are 50 or older, the converging forces might just be the perfect storm allowing you to do what you always wanted to do.

Category: Career

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