Baby Boomers have changed the rules all through their lives, and they’re bringing the same attitude to retirement.
They’re not going to do it.
Three out of four Americans says they plan on continuing to work after they reach age 65. Kerry Hannon has made a career of studying other people’s careers, zoning in especially on retirement and the financial changes that go with it. She finds 32% of Americans between the ages of 65 and 74 will be in the workforce in 2022. That’s only five years from now, and if you are 60 today, Hannon suggests you get to work on planning.
“Number one, do some soul searching,” Hannon advises. “What do you really want to do right now? How can you redeploy your current skills? You’re not reinventing, you’re redeploying.” Is consultancy your best route, or do you want to take that hobby about which you are most passionate and turn it into an income-producing venture? She says volunteering is a wonderful way to test drive a new area of interest, and be sure to activate the network of associates you’ve cultivated throughout your career. Do your homework: knowledge is power. Hannon says research is foundational. She recommends checking out online companies that focus on experienced workers, including Patina Solutions, HourlyNerd and Upwork.