Unretirement
Scott Couchenour
Owner: Step into your post-exit adventure with clarity and purpose ?? I'm a 4th Quarter Coach, experienced COO/CEO, strategic planner, project manager, keynote, author, coffee connoisseur
Navigating the New Normal: Why "Unretirement" is Becoming a Trend and What You Can Do About It
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Welcome to this week's edition of our newsletter, where we delve into the rising phenomenon of "unretirement." (in this article, we address one of the 6 Hallmarks of a fantastic 4th quarter known as Financially Free. Let me know if you want to know more about the Hallmark Strategy - [email protected] .)
Recent data from Standard Life reveals a striking trend among retirees, primarily baby boomers and late Gen Xers, with a significant number returning to the workforce. This shift is spurred not by a longing for the daily grind but by economic necessity. Let's explore what's driving this trend and outline practical steps you can take whether you're approaching retirement or already there. By the way, Jim Huling sent me a link to an article that got me thinking (thanks Jim!)
Unretirement: A Closer Look at the Data
A survey involving over 6,300 UK adults shows that 14% of retirees have reentered the workforce, and another 4% are contemplating it. Men are particularly more likely than women to return to work, with nearly a quarter considering it. The driving force? Financial pressure. Inflation and rising living costs are making it increasingly difficult for retirees to sustain their expected standard of living, forcing many to postpone retirement or seek additional income.
What's Happening On Both Sides Of The Pond?
The trend isn’t confined to the UK. In the US, the percentage of those over 65 who remain employed has quadrupled since the 1980s. Today, almost 20% of Americans aged 65 and older are still in the workforce, doubling the rate from 35 years ago. The reasons mirror those in the UK—insufficient retirement funds and the high cost of living.
Actionable Steps for Navigating Your Retirement Planning:
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Conclusion
The shift toward unretirement highlights the changing landscape of retirement planning. Economic pressures are reshaping traditional retirement trajectories, making it essential for individuals to adopt more dynamic and proactive retirement strategies. By starting early, considering flexible work options, and staying informed, you can better navigate these changes and secure a financially stable retirement.
Look, it’s never too late to reassess your plans and make necessary adjustments to ensure that your retirement years are as fulfilling and worry-free as possible.
The information and statistics cited in the newsletter come from the following sources:
These sources provide the foundational data and expert opinions that inform the strategies and insights shared in the newsletter article on navigating unretirement and retirement planning effectively.
Executive Coach | Author #1 Worldwide Bestseller The 4 Disciplines of Execution | Strategy and Execution Consultant | ???????????????? ?????? ?????????????????? ???????????????? ??????????
7 个月This is so insightful. I’ve learned so much from you, Scott, and because of it, both “retirement” and “unretirement” have blurred into the single idea of “How do I continue to have an impact?” This focus seems timeless and unlimited, and keeps me grounded in my purpose. Does that makes sense in the way I’m saying it?
Empowering Technical Experts to Captivate Audiences | Turning Complex Ideas into Clear, Impactful Messages | Public Speaking Trainer I USAF Ret.
7 个月Scott Couchenour's exploration of "unretirement" is intriguing. It's a phenomenon that's likely driven by a mix of financial necessity and the desire to remain active and engaged. As someone who has transitioned from the Air Force to leadership training, I can attest to the allure of new challenges post-retirement. It's about harnessing skills like effective communication and persuasive speaking in new ways.