Alternatives to Retirement
A preconceived notion of life exists for many of us. A notion where you grow up, get a job, work to provide for your family and then retire peacefully at 65… or was that 62… or perhaps 59…?!? Baby boomers are being phased out or forced into retirement at earlier and earlier ages. But for many baby boomers, that golden age is the new 30 and they are at their prime. For those who still crave the nine-to-five (or aren’t quite in a position to live off the savings just yet), there are many options for a second career.
Become a Teacher
The ever increasing shortage of teachers is hitting school districts nationwide. Many states have begun to seek creative solutions to this huge problem. Many baby boomers, set to leave the classroom within the next several years are being offered incentives to stay, from bonuses to opportunities to have their retirement funds placed in escrow to accrue interest while they teach additional years (still earning a salary). School systems are also looking for retired professionals to enter the classroom to teach a variety of courses. There are many special programs that provide specific professionals lateral entry into education.
Open a Business
Turn that hobby into a moneymaking opportunity! If you have always wished you had more time for this or that, you now have an opportunity to realize that dream. Love old cars? Consider investing in a restoration business. Love photography? Take courses and become a professional photographer. Always loved to entertain? What about opening a bed and breakfast or a café or diner? Have a love of knick-knacks? What about becoming an antique dealer? The options are endless!
If you are seeking fulfillment but don’t necessarily need the funds, there are many rewarding opportunities for volunteers. Give some time at the local senior home, library or civic organization. Become a companion or mentor. All of these are priceless experiences that will enrich and reward the lives of you and the people you encounter.