In today’s episode, hosts Tim Regan and Katie Umland explore what successfully working after retirement or embracing entrepreneurship as a retiree might look like – including real stories of success and tips for getting started.
Have you ever wondered what your life would be like if you had chosen a different career?
For many people, retirement offers an opportunity to pursue a professional passion that has long been back-burnered. Dubbed the “second act” by our hosts, a later-in-life career move or entrepreneurial venture can keep you feeling fulfilled and continue expanding your worldview.
“A lot of times people get to that age where they’re like, ‘I feel like it’s time for me to stop doing what I’m doing – but am I retiring from something or am I retiring to something?’”
Another point Tim encourages listeners to consider is whether they’re truly chasing a passion or an income, as your motivations will largely impact what route is best for you. For those that want a second act career but perhaps not the workload associated with running a business from scratch, franchising, consulting, or taking on a hybrid/part-time role within your previous industry are all potential options.
Related: How to Overcome Boredom in Retirement and Find Personal Fulfillment
Tim shares the story of one previous client who became a tour guide around the globe to indulge in his passion for travel, and another who pursued their love of the RV life by taking on a role as a campground landlord.
As you consider these success stories of working after retirement, Tim and Katie encourage you to begin with setting your “non-negotiables” – the pieces of your retirement you don’t want to give up in this new career pursuit. Those could include the days of the week you’d like to work or seasons that you’d like off to spend traveling. With those “must-haves” set before you begin, you can stay on track for your vision of the Two Comma Life (even when presented with other enticing opportunities).
If you’re curious about how to make the most of your retirement years or looking for inspiration for your own second act, you can listen to the full episode or schedule a consultation with a member of the PrairieView team.
Chapters
- 00:00:47 – It’s not just about what you’re retiring from, but also what you’re retiring to.
- 00:01:51 – Retirement often gives people the freedom to pursue a new direction for their career or professional endeavors they may not have considered previously.
- 00:03:45 – The hosts share how one client became a tour guide for trips across the globe once retired.
- 00:06:52 – Sometimes a job will find you in retirement in unlikely ways.
- 00:09:29 – How do you know if a professional “second act” is right for you?
- 00:11:10 – Why a part-time job can be beneficial to retirees.
- 00:16:39 – Tim and Katie share more success stories of later-in-life entrepreneurs.
3 Key Takeaways
- Many retirees find fulfillment in entrepreneurship, often turning their hobbies or interests into small businesses or consulting roles that provide both income and enjoyment.
- The most successful and satisfying “second acts” revolve around activities that you are passionate about, whether it’s travel, teaching, or a specific hobby.
- You need to define your non-negotiables before you dive in, so you can balance your income, personal fulfillment, and lifestyle needs. Many retirees benefit from flexible work arrangements, which allow them to stay engaged and earn income without the demands of a full-time job.
Ready to Embrace Your Second Act?
Entrepreneurship is an exciting journey – regardless of your age. Want some guidance as you plan out your new venture? Click here to schedule a complimentary consultation with the PrairieView Wealth team and get started today.
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