I have been redefining retirement for myself and urging my coaching clients to do the same. How do you actually want to spend the 25 to 30 bonus years you will probably have in retirement?
Because of the advancements in medicine and healthier lifestyles, we have the gift of longevity. Never before have so many people with such extraordinary talent and experience had the time and the resources to do something significant with their lives.
We’ve Come Such A Long Way In Such A Short Period Of Time
It was only a little more than a half a century ago that labor leader Walter Reuther described the period between midlife and old age as “too old to work, too young to die.” More recently anthropologist Mary Catherine Bateson, who wrote Composing a Future Life, said that we are living longer and thinking shorter because we are not yet ready for the gap between middle age and old age. Most of us are still in the old retirement mentality. I’m hoping this is in the process of changing.
In Mark Freedman’s book, The Big Shift, he is “arguing for the creation of a new stage of life between the end of the middle years, and the beginning of retirement and old age called The Encore Stage. If we act now, the new stage could well become a destination where talents and skills could be the solution to much that ails us in our society.” This encore stage, characterized by purpose, contribution, and commitment could be the legacy that we leave for younger generations. These authors are redefining retirement.
My hope is that our generation will have the kind of retirement careers that benefit society as a whole and keep us vital, purposeful, and satisfied. This is unlike retirement lifestyles of previous generations where individuals retired to leisure. Each person is different and what will define a successful retirement for some will not work for others. I believe that the key to a successful transition from work is to plan and to have a purposeful portfolio of activities that keep us excited about life. An encore career is just one piece of this.
Because our generation is redefining retirement, the current trend is to create a new life stage with a variety of challenging activities in addition to leisure, which includes working on our own terms. You may start your own business or find additional employment. You might enjoy taking college courses, volunteering, or mentoring younger people. This will still leave plenty of time for leisure activities and hobbies.
I have a lot of passion about this encore retirement stage because no matter what walk of life we are from, there is an incredible amount of brilliance, skill, talent, and experience within each of us. What if all those gifts were lost because of poor retirement planning? What if you spent all your time in front of the TV or playing golf, tennis, etc.? Or what if you were left prey to the whims and needs of others to define your plans? Often those who are retired are asked to do things by others that they feel an obligation to do and not because they want to. Would these kinds of activities feed your spirit and make your life meaningful?
Be bold in redefining retirement for yourself instead of giving in to other people’s idea of what is best. You won’t be disappointed.