Older workers, after spending decades in the workforce, the prospect of retirement can feel daunting. The sudden lack of structured work and an abundance of free time can lead to feelings of isolation, purposelessness, and even fear. However, there's a way to transition smoothly into this new chapter of life without completely giving up the benefits and structure of work: selective retirement.
What is Selective Retirement?
Selective retirement allows you to ease into full retirement by customizing this phase to suit your individual needs and goals. It provides the flexibility to balance meaningful work with the freedom to enjoy other interests and activities.
A Real-Life Example
Consider the story of a former insurance executive featured in a recent Globe and Mail article. For him, selective retirement was about choosing which aspects of work to maintain while pursuing personal interests on his own terms. He now spends his time volunteering, doing part-time consulting, and enjoying hobbies he never had time for before.
Financial Benefits
Selective retirement is also a great option for those who need to work for financial reasons. Working part-time or freelancing can help supplement your income, providing a more comfortable lifestyle during retirement.
A Balanced Lifestyle
Older workers, imagine the endless possibilities that come with retirement: playing with your grandkids, exploring a new sport or hobby, continuing to work professionally, and earning extra money. Retirement doesn't have to mean the end of productivity; instead, it can be a time to redefine what work and personal fulfillment mean to you. Here are some other examples of real life retirees, that may help you decide how to balance your professional experience with personal interests.
The Corporate Executive Turned Consultant
Jane, a former senior executive at a multinational corporation, now works part-time advising start-ups and emerging businesses. This allows her to stay connected with the corporate environment while also having the freedom to travel and spend more time with her family.
The Nurse Turned Volunteer Coordinator
Lee, a former nurse, wanted to continue making a difference without the demanding hours of his previous job when he retired. Lee found a fulfilling role as a volunteer coordinator at a nonprofit organization, combining his passion for healthcare with a more flexible schedule.
The Teacher Who Became a Tour Guide
Bob, a retired history teacher, combined his love for teaching and travel by becoming a part-time tour guide. This role allows him to stay active, meet new people, and explore new places while maintaining a flexible schedule.
Let On Your Own Time Help
Older workers, as you know, today's retirees are redefining what it means to leave the full-time workforce. This stage of life offers the opportunity to have it all. Whether you want to continue working part-time, volunteer, try a new occupation or explore new hobbies, On Your Own Time is here to support your journey.
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