Many people I talk to are excited about the next phase of their lives, envisioning a mix of part-time work, giving back through volunteering or mentoring, exploring new interests, spending time with loved ones, and simply enjoying themselves. While most feel financially secure, a common concern is how to stay engaged and find fulfilling ways to spend their days once they’re no longer in full-time employment. This shift towards working or volunteering in retirement – what some call “unretirement” or semiretirement – really highlights the importance of finding meaning and purpose in this new chapter.
Here are five key ideas to help you thrive in unretirement:
First, it’s crucial to think beyond just what you’re leaving behind in your career and really consider what you want to embrace in retirement. It seems many people don’t do this, which can lead to feelings of aimlessness, boredom, or even unease in unretirement. Take some time to explore what truly brings you joy and what steps you need to take to make that a reality.
Second, as you move from full-time work to unretirement, try to be someone who actively seeks out purpose. A report called “Longevity and the New Journey of Retirement” describes these “purposeful pathfinders” as retirees who are the most satisfied, independent, and well-prepared. Often, these individuals are drawn to volunteering and continued learning.
Third, when you’re considering the timing and nature of your retirement, try a simple six-word exercise. Jot down six words that best describe who you are now, and then think about how retirement might change that description. If your sense of identity is strongly tied to your job, you might not be quite ready to step away fully. Try this exercise again in a few months while exploring different activities to help you prepare for a transition to unretirement.
Fourth, if you’re interested in part-time work during retirement, look within your local community and seek out age-friendly opportunities. Reach out to local businesses and non-profit organizations about potential part-time roles, freelance work, gigs, or consulting projects. You might find that you can bypass typical HR processes, and your history as a loyal customer, client, patient, or supporter could make you a strong candidate.
Finally, don’t underestimate how vital it is to find meaning and purpose in your unretirement. Redefining your sense of purpose after your main career requires a conscious change in perspective and a journey of self-discovery. This can be a fantastic opportunity to revisit interests you put aside due to work commitments or to discover entirely new passions, such as volunteering, pursuing hobbies, or learning new skills.
Research has shown that having a sense of meaning and purpose is beneficial for both your mental and physical well-being. You might find this by reconnecting with old friends or strengthening bonds with family. Or it could come from leaving a legacy by mentoring others and sharing your knowledge. Volunteering is an excellent avenue for finding purpose, as it allows you to contribute to a cause you care about. Even part-time work in unretirement can provide a sense of purpose.
Hopefully, these suggestions will help you create an amazing and fulfilling unretirement.
The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice, or invitation to purchase, sell, or otherwise deal in securities or other investments. Before making any decision regarding a financial product, you should seek advice from an appropriately qualified professional. We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.
Sources:
- Based on insights from Kerry Hannon’s article, “6 ways to build a successful retirement,” published on MarketWatch. (https://www.marketwatch.com/story/6-ways-to-build-a-successful-retirement-3ec635b)
- Drawing from the findings of the “Longevity and the New Journey of Retirement” report by Age Wave.
- Inspired by research on the psychological benefits of purpose in later life, such as findings discussed in “Purpose in Life as a Predictor of Mortality Across Three Age Groups” by Hill and Turiano (2014), published in Psychological Science. (https://journals.sagepub.com/doi/abs/10.1177/0956797614521734)
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