Rise of the ‘senpreneur’ in the workforce

Retirement coach Peter Black tells what he has learnt about working past 65.

Rise of the ‘senpreneur’ in the workforce

Are you in your 50s and 60s but not yet ready to retire? You’re not on your own, with ‘senpreneurs’ becoming increasingly familiar. Peter Black is a business and executive coach and an accredited retirement coach. He tells author and retirenotes.com founder Bruce Manners what he has learnt.

Retirement has changed
“We are actually retiring the word, retirement, and calling it the Third Age.

“Retirement needs to be redefined. What exactly are we talking about? We could be talking about a 20 to 30-year period, which is very different to what was once the norm. There was a time when you only had five years to worry about. Not now.

“And a lot of people do want to remain working – for income, structure, social connection …

How not to ‘be retired’
“To ensure you can continue working for as long as you like, first you need to look after your health, especially in your 50s. That’s paramount. And even then, retirement might be forced on you if you have to look after significant others who experience ill-health.

“But with a degree of both physical and mental good health, you will present as far more energetic, with a young mindset. That helps out with marketability in the workforce.”

Active learning
“I see employers looking for people with tech skills and remote working skills and who are self-directed learners. Older workers are generally valued for their enhanced life experience skills.

“People who succeed are those who are investing in their own learning. I’m not suggesting three-year university courses but opportunities on YouTube, podcasts, reading, MOOCs (Massive Open Online Courses). For example, you could do an eight-week course in digital marketing or one of the coding languages through a worldwide uni.

“Understand working with the different generations. There could be three, four, five or more different generations in a workforce now. Understand the differences between the generations and how we can all work together.

“Understand changing society views on same sex marriage, climate change and so on.

“Be proactive. Volunteer to work on new projects and initiatives with your employer. Keep learning.

“Embracing change is the answer. Keep the brain active, whether you withdraw from the workforce or not.”

When retirement beckons
“Retirement is an emotional roller coaster for many. The closer they get to what they thought would be a retirement age, the scarier it can get – going from the structure of work to this essentially blank canvas, potentially dealing with health challenges, adult kids, possibly grandchildren, a different phase with your life partner.”

The plan – or not
“Most Australians do not have a plan of what they are retiring to. They know what they are retiring from and possibly have been battered with information on the financial aspects of retirement, but may not have a lot about the non-financial side of retirement.”

The mistakes
“As I learnt in doing my accreditation to be a retirement coach, leisure is no longer leisure if it is not a break from what you are usually doing.

“One of the mistakes I see a lot of people make is saying, ‘I’m going to retire to that place where I’ve always enjoyed holidays. But if they move and are there 12 months of the year and not just for holidays, it can be a very different experience.”

A gap year

“Try before you buy. I had a gap year at 47. It can be a tremendous thing if you can do it by taking advantage of long service or a sabbatical. It’s a good trial but not for everyone.”

Are you still working either full or part-time? Is it because you want to or need to?

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    COMMENTS

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    Ronin
    6th Jun 2019
    12:06pm
    Want to, for the intellectual stimulation. Need to, for the income!
    Karl Marx
    6th Jun 2019
    12:16pm
    after working for over 50 years I retired, never looked back & no regrets at all.
    Therese
    6th Jun 2019
    12:28pm
    I have retired at 66 1/2 years and happy retired from accounting. Now I do voluntary work at a School two mornings, I help the teachers with the children who have reading difficulty. It is so satisfying to see their improvement. The other time I decided to learn the old language of our old book, the Biblical Hebrew. Learn any language ie German, French, Italian. I tell you this keeps the mind going. Also I use the free courses available on online. Increase the knowledge. The other courses which are available you meet people and one is connected back to the Community.
    Therese
    6th Jun 2019
    12:28pm
    I have retired at 66 1/2 years and happy retired from accounting. Now I do voluntary work at a School two mornings, I help the teachers with the children who have reading difficulty. It is so satisfying to see their improvement. The other time I decided to learn the old language of our old book, the Biblical Hebrew. Learn any language ie German, French, Italian. I tell you this keeps the mind going. Also I use the free courses available on online. Increase the knowledge. The other courses which are available you meet people and one is connected back to the Community.
    JW
    9th Jun 2019
    6:19pm
    Hats off to you Therese. Giving and growing at the same time. I love how you’re tackling retirement.
    Mollymoo
    6th Jun 2019
    1:15pm
    I am almost 62 still working and plan on working for another couple of years, to increase my superannuation. I plan on working part time, travelling a bit, and volunteering in the community. I think that I will probably be busier when I retire than now.
    Russell
    6th Jun 2019
    3:33pm
    I was forced to retire at 68 when I was injured at work and because I work beyond the retirement age I was shafted by my employer, the insurance company and the courts because the thing that they all looked at was what were my remaining income earning years. The result of that was they worked out that as I was past the legal retirement age my remaining income earning years was "0" so my injury payment was reduced to zero with the exception to my permanent disability payment which is worked on the percentage of loss of movement
    Agnes
    6th Jun 2019
    3:43pm
    Worked hard all my life, and been fortunate, so retirement should be pleasant. Now is the tie for me to give back to the community, having just turned 62. I do a pro bono medical clinic for patients (within my field of medical specialty) so it costs them nothing, and another clinic where the patients are bulk billed , the income form that clinic i give to the local senior citizens association. Presently helping to run and finance the bus outings. Pleased to do so , this country, has given much to me.I see so many at my stage also determined to give back to the community.


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