Holding Off Retirement
One of my clients is not thinking about retirement as part of her near future
. Two of her largest customers reduced their training needs by 50 percent and this 62-year old woman is looking for a part time job to make up for the income loss.
One of the largest group of workers in history moves into the age range of 45 to 69 this decade. The good news is that they are healthier, look younger, more educated and more self confident than their predecessors. Fifty is no longer the new 40, it is the new 30. Think about it. Not that long ago Jane Pauley was taken off the Today Show because she was too old at 39. That same program replaced 49-year-old Katie Couric with 52-year old Meredith Viera.
The age of the average business owner is also getting older. The problem is that age discrimination claims are also rising and not just because of the numbers of people over 50 applying for jobs. Younger, less experienced workers are less expensive to hire and have more energy.
On the other hand, a colleague of mind who works for a recruitment firm says this is a great time to be 50 and searching for a job. He believes that this generation of older workers are still in demand because companies are looking for experience. He was not that positive, however, if you were 65 and older.
He also gave me a piece of advice to pass on to the older set looking for jobs where age discrimination may be a factor: Remove the dates you received degrees from college and graduate school from your resume. Eliminate your first job entirely from your resume.
Several clients wanted me to help them market their business online or start their own internet business. They want to make enough money with their Internet business so they can retire from their jobs. About three quarters of them were planning to retire as soon as they eligible for their pension or for Social Security.
Times have changed. In the past 5 years the majority of people are telling me they have to work longer. Over half are planning to work beyond their pension or Social Security. Only a few plan to retire when they get Social Security. Many people who inquire about my services are in their fifties because they are concerned that they may not have enough to live on when they retire.
The economy has been a sharp stick when it comes to thinking about giving up their paycheck to retire. Some prefer to be in business for themselves then continue at their job. Others are looking to build their next egg. They cannot see themselves holding down two jobs away from home and are figuring out what is it they can do using the computer and working at home at their own business.
The atmosphere is scary. Living on a fixed income when expenses are not fixed and sources of income start contracting is enough to cause anxiety attacks. Even if you have 5 or 10 years before you retire, just thinking about it can be depressing.
If you love your work and are passionate about your business you may want to do it on a smaller scale. This is an enviable position, choosing to make enjoyable work part of your retirement lifestyle.
If you want time to do the things you never had time for such as reading, gardening, traveling, spending time with the grandchildren, playing golf, talk first to your friends and family. I have spoken with too many people who were surprised to find out that doing the things they always wanted to do is not a full time replacement for work. Some are looking for jobs again.
by: Ruthan Brodsky
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