When considering the mental and emotional issues that retirement brings, researchers recently reported that professionals who retire tend to go through processes of life restructuring and identity bridging.
Cliff edge retirement? That’s getting to the edge of the retirement cliff and jumping off—into retirement. It’s sudden. Work is finished. Retirement begins. But not everybody wants to do it that way.
People approaching retirement should consider how they will feel when putting their career in the rearview mirror. Even if you do a good job maintaining contact with your career friends, your career is over and you may have a period of mourning to go through.
When Leonard Cohen died in 2016, aged 82, he had lived well past retirement age. Although he never actually retired—or set up a school of retirement—there are valuable lessons we can learn from his life.
Most people have their retirement sorted by the time they reach 82. And, if you’re able, working on is an option. Maybe at a more relaxed pace. For many, that’s a great way to spend their retirement years.
‘Twenty years ago, retirement was still a fixed point in time—you fully retired and went on a cruise to begin a life of leisure for your vision of retirement. It’s very different now.’
Stanley had retired early, at the age of 55. He didn’t like being retired so he decided to go back to work. He’s now 70-ish, still working and loving it.
‘Many people completely fail at retirement.’ That’s what Hyrum W Smith reckons in his book Purposeful Retirement. So what can you do if you sense you have to un-retire?
Call them what you like: Olderpreneurs; Laterpreneurs; Silverpreneurs; or those people over certain ages who have a go! One study in the UK mentioned that olderpreneurs ‘create jobs at a rate more than seven times faster than the UK economic average’.
Creating a product from something you’re passionate about is what many entrepreneurs do. Whether it’s making or baking items, writing or inventing something, there’s a lot we can do with our hobbies in retirement or for a second career.