Cruising down the Rhine or sipping wine watching a sunset on the beach at Broome are lovely images to hold dear, snippets of dreams to include in that post-work lifestyle called “retirement”. But do those dreams have to be confined to a post-work lifestyle? Can they not be part of an ongoing-work lifestyle which borrows the best of traditional retirement but gives it a contemporary twist?In a 2009 survey conducted by BeNext (www.benext.com.au) it was found that the majority of Australian aged 45 to over 70 want a life of ongoing connection and contribution. 57% of those surveyed who were actively working at the time of the survey expressed their intention to work beyond 66 years old. Over 90% did not believe that their retirement from their usual occupation meant an end to their productivity in the workforce.
A common view emerging from the survey was that retirement was an opportunity to give back and to share experience and skills. Leisure was highly valued but making an impact on the world was also an important consideration. Most believed that leaving their traditional employment would not be the end of their working life.Much has been made of the Global Financial Crisis causing problems for baby boomers nearing retirement, but many were under-financed anyway and the GFC was just the catalyst that brought this to their attention. It is not just finances that motivate many people to explore new ways of income generation, but the possibilities that are now available to us all.
Society has changed so much during our working lives, and many of those changes enable new ways of combining work and leisure, or of working in a different way. Technology has made it not only possible and acceptable to work from home now, but this freedom is extremely sought-after. Home based businesses operate in every imaginable industry, offline and online, and provide an ideal environment for a person wanting to work but not seeking traditional employment. Others continue to go out to work, using their lifetime of skills and experience but in a different capacity as a consultant, often to the business that previously employed them. In a sense right now is the “perfect storm” for baby boomers to redefine the whole concept of retirement.
We are under-financed for retirement, our expected life span is higher, technology supports working anywhere, and we are a generation that has always done things differently from previous generations. It’s going to be fascinating to see the way we reinvent society’s concepts of retirement over the next 10 years. Jenni Proctor Career Counsellor and Retirement Transition Coach