5 Ways to Unretire
Ten thousand Americans exit the workforce daily, but many emerge months later, eager to contribute again.
Retirement seems like a great idea, until the reality sets in of a day-to-day life unmoored from routine, achievement, and expertise. The rush of a just-closed deal or huge sale? Gone. This truth is currently being digested by millions of boomers, who are retiring at a pace of approximately 10,000 per day—then popping up again, looking for something to do.
Those on the precipice of retirement have noticed. Nearly half of employees now perceive retirement as a gradual shift away from full-time employment, according to survey figures from Allianz Life. Psychologists affirm that continuing to contribute professionally can be valuable to well-being. “It provides a sense of meaning and purpose,” agrees Kendra Marion, vice president for global assessment services at Korn Ferry. Work also keeps minds sharp, and helps people avoid the loneliness that can set in when professional networks abruptly fade.
Unretiring sounds great in theory, but the question is how, exactly, to do it. Part-time work? Running a side business? Joining a board? Those options might keep your inbox full, but they might not quite scratch the itch for daily engagement. Here are five expert-approved ways to unretire well:
Consult.
It’s the default option of millions of retirees. Consultants keep a toe in the workforce, and enjoy putting their vast experience to good use. Just a few hours a week can be the difference between losing touch with the working world and staying squarely in the game. “It enables the feeling of staying connected to the business world,” says David Ellis, senior vice president for talent transformation at Korn Ferry.
Make a podcast.
As the numerous podcasts about Old Hollywood suggest, talking shop does not require being anywhere near the shop. A podcast featuring guests admits a revolving cast of interesting people into your unretirement, and provides a structure of regularly researching, planning, and executing media content, not to mention the bonus of interacting with listeners.
Advise local organizations.
Sure, there’s volunteering, but many former leaders seek out a more specific niche: Local community groups often need advisors as well as regular contributors. For example, your local bike center needs not just experts in repair, but also people who can provide business guidance. “You can really match your passion and experience,” says Ellis.
Teach, mentor, or coach.
Along with consulting, this is the most popular choice. Imparting guidance and expertise checks many boxes for unretirees: It creates routine, builds ongoing relationships, and gives all that knowledge somewhere to go. Teaching gigs tend to take a little time to set up, so those in the know will start poking around early, long before their official last day of work.
Return to school yourself.
Graduate school is not just for twentysomethings. “I know plenty of people who made career-focused choices for their educations early in life, and still have a thirst for learning,” says Ellis. This time around, focus on truly fascinating topics. Multidisciplinary and non-degree programs are increasingly popular.
Learn more about Korn Ferry’s Leadership and Professional Development capabilities.
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