The golden years of retirement are often envisioned as a time for relaxation, travel, and indulging in long-neglected hobbies. However, Jim Penman, the CEO of Jim’s Group, is challenging this traditional view by calling on retired CEOs, business owners, and entrepreneurs to dust off their suits and step back into the workforce as life coaches.
Jim’s Group, a household name in Australia with its iconic green and gold logo, is not just about garden maintenance. With over 50 divisions under its belt, including beauty, dog washing, security, and electrical services, the franchise network is a testament to the diverse opportunities available within the brand.
Penman, the founder of Jim’s Mowing and father-of-10, believes that the wealth of experience possessed by retired professionals is a valuable resource that shouldn’t go to waste. He envisions these individuals as the perfect candidates for life coaching within his franchise network, offering a ‘cost-effective’ system to help others improve their lives.
Life coaching, according to Penman, is not just about business advice. It encompasses a holistic approach to living better, including health, human relations, community, and finding purpose. The role requires a unique blend of character, communication skills, and a genuine interest in helping others achieve their goals.
The call to action comes at a time when the Australian Bureau of Statistics has noted higher levels of retirement, yet Australians are retiring later than ever before. Men are expected to retire at 66.2 years and women at 64.8 years, the highest since the 1970s. This shift suggests that many Australians still have a lot to contribute post-retirement.
For those considering a return to the workforce, the financial incentives are compelling. Penman points out that life coaching can be quite lucrative, with a reasonable aim for franchisees to turn over about $150,000 a year. While it’s not a path to overnight riches, it offers a respectable income for those looking to remain active and engaged.
Jim’s Life Coaching division is still in its infancy, but Penman has ambitious plans to create at least 30 franchises within three years, drawing inspiration from the success of other divisions like the laundry service, which saw over 100 franchises in its first three years.
As for Penman himself, retirement is nowhere on the horizon. At 73, he humorously plans his ‘retirement ceremony’ to be in a church, as a final farewell, but only when he’s no longer around to run his empire. His dedication to his work and the Jim’s Group is unwavering, and he serves as a living example of the fulfilment that can come from continuing to work and contribute to society.
So, for those in their senior years who are feeling the itch to get back into the game, Jim’s Mowing and the broader Jim’s Group could be your calling. It’s an opportunity to share your wisdom, guide the next generation of business leaders, and perhaps find a new sense of purpose in the process.
As Jim Penman encourages retirees to reconsider traditional retirement and explore life coaching, the conversation around post-retirement opportunities is growing.
What are your thoughts on reentering the workforce as a life coach? Do you think your experience could offer value to others in this capacity? Feel free to share your insights or any experiences you may have in the comments section below. We’d love to hear your perspective!
Also read: Australia soon to be second in world for retirement savings as superannuation pool soars
Having been a teacher for some 41 years and a subject (department head) for over 20 years, I was worn out from responsibility, classroom teaching and record keeping and happy to take a well earned retirement at age 60. I did however do a lot of casual teaching and a couple of years full time as department head in a religious school (one of those strange ones) for some 10 years after that to help finances. By then end of that, I could never go back to casual or full time teaching of any sort.
Being over 80 and completely out of date and out of touch with the school curricula, I couldn’t successfully coach students in the subjects I had specialised in.
No, there’s no way I could consider doing any work involved with education.
If you receiving the Age Pension, then, Why go back to work ??
If your additional income is above the limit, then Centrelink effectively “taxes” you at a rate of 50 cents in the dollar, then add add on what the ATO takes, and the result is not that appealing.
EG:- Per Year : (rough ballpark figures)
Single Pension = $29,874
Addition Income = $20,000
Pension Reduction = $8,750
Taxable Income = $29,874 – $8,750 + $20,000 = $41,124
Estimated Tax = $4,355
Total Income = $36,769 (after tax)
Therefore, after working all year to receive $20,000 additional income, you are only approximately $7,000 better off.
IE an effective Tax Rate of (approximately) 65%.
Looking for people to work? How about this stupid, dictatorial, robbing Government start by getting the useless unemployed younger, hand out for everything generation, off their collective arses and WORK for the dole – Jim, the Government hate us pensioners now with the pittance they pay us, we have earned our rest and made our contribution to society our price, so, let us start making our youth earn some gratitude.
Perhaps you would like to work for the difference between the unliveable measly amount provided to people on newstart and the comparatively very comfortable amount provided to people on the age pension?