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What do you do if you want to ensure a successful late career and retirement in Economics?

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Ensuring a successful late career and a comfortable retirement requires strategic planning and ongoing education. In the field of economics, staying abreast of current trends and continuously honing your skills can significantly impact your career trajectory. Whether you're an academic, a private sector economist, or a government analyst, the principles of sound financial planning and career development apply universally. By adopting a proactive approach to your career and retirement planning, you can set yourself up for long-term success and stability.

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Hamilton Feijó

Economist | 100X ?? Linkedin Top Voice | Innovation and Strategy Specialist | Business Manager | Corporate Social…
samia torky

expert in monetary policy

1 Lifelong Learning

To maintain relevance in the ever-evolving field of economics, you must commit to lifelong learning. This means actively seeking out new knowledge, whether through formal education, such as advanced degrees or certifications, or informal learning, like online courses or industry seminars. By keeping up-to-date with the latest economic theories, models, and software tools, you enhance your skill set and remain competitive in the job market. This continuous investment in your education can lead to better job opportunities and a more robust professional network as you approach retirement.

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samia torky

expert in monetary policy
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Lifelong learning is not just about accumulating facts, it's about forestering adaptability, critical thinking, and the capacity to navigate the complexities of the modern world. Continuous learning Fosters a thriving economy by equipping individual the competencies to contribute to economic development ,productivity improvement, and industry innovation. Seeking out new knowledge, and keeping up-to-date with the latest economic theories, models, and software tools, enhance your skill-set,and remain competitive in the job market.

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2 Diversify Skills

Diversifying your skill set is crucial in economics. You should not only be proficient in quantitative analysis but also develop strong communication and leadership abilities. These soft skills complement your technical expertise, allowing you to present complex economic concepts in an accessible manner and lead teams effectively. Mastering a variety of competencies can open doors to new roles and opportunities, such as consulting or policy advisory positions, which often come with increased flexibility and may be well-suited for the later stages of your career.

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3 Financial Planning

Sound financial planning is the cornerstone of a stress-free retirement. As an economist, you understand the importance of saving and investing wisely. Start by maximizing contributions to retirement accounts, such as a 401(k) or individual retirement account (IRA), and consider consulting with a financial advisor to create a tailored investment strategy. Balancing your portfolio between stocks, bonds, and other assets can help mitigate risk and ensure that your savings grow in line with your retirement goals.

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Hamilton Feijó

Economist | 100X ?? Linkedin Top Voice | Innovation and Strategy Specialist | Business Manager | Corporate Social Responsibility |
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Retirement plans must be drawn up well in advance and the details must be determined, either through savings or alternative investments. As economists, we must have the skills and it is part of our competencies. Basic and complex calculations can be made and it is important that they are executable

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4 Network Building

Networking is a powerful tool for career advancement in economics. Cultivate relationships with colleagues, mentors, and industry leaders throughout your career. Attend conferences, join professional associations, and participate in online forums to connect with peers. A strong network can provide support, offer insights into job openings or consulting gigs, and serve as a sounding board for career decisions. As retirement nears, these connections may also lead to part-time work or advisory roles that keep you engaged and supplement your income.

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5 Health Investment

Investing in your health is just as important as investing in your career. Good physical and mental health can significantly affect your ability to work and enjoy retirement. Adopt a healthy lifestyle that includes regular exercise, a balanced diet, and sufficient rest. Also, make sure to have comprehensive health insurance and plan for potential long-term care needs. By taking care of your health now, you'll be more likely to enter retirement with the vitality needed to pursue your interests and hobbies.

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Hamilton Feijó

Economist | 100X ?? Linkedin Top Voice | Innovation and Strategy Specialist | Business Manager | Corporate Social Responsibility |
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Nowadays, concern about essentially mental health is a major concern. The pandemic has brought us great pressure to reconcile career development with physical and mental well-being. And experience has shown us that this concern is fundamental.

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6 Exit Strategy

Developing an exit strategy for transitioning out of full-time work is essential. Consider what your ideal retirement looks like: Do you want to completely stop working, or would you prefer to consult or teach part-time? Gradually reducing your workload can provide a smoother transition and help you adjust to the changes retirement brings. Additionally, staying involved in the economics community through part-time work or volunteering can keep you intellectually stimulated and socially connected post-retirement.

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Hamilton Feijó

Economist | 100X ?? Linkedin Top Voice | Innovation and Strategy Specialist | Business Manager | Corporate Social Responsibility |
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The life of an economist can easily be combined with teaching and research, so it's an ideal option. Most of my professional contacts have this as an option, so that it guarantees partial disconnection from their main career. You can also obtain certification of teaching skills, which is very common here in Portugal for those who provide training.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if you want to ensure a successful late career and retirement in Economics?

1

2

3

4

5

6

7

1 Lifelong Learning

2 Diversify Skills

3 Financial Planning

4 Network Building

5 Health Investment

6 Exit Strategy

7 Here’s what else to consider

Economics

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What do you do if you want to ensure a successful late career and retirement in Economics?

1

2

3

4

5

6

7

1 Lifelong Learning

2 Diversify Skills

3 Financial Planning

4 Network Building

5 Health Investment

6 Exit Strategy

7 Here’s what else to consider

Economics

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