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Retirement Wisdom

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Retirement Wisdom

Find the Volunteer Opportunity That’s Right for You

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By Joe Casey

Retirement offers ample opportunities to volunteer. And once they’ve earned the freedom to retire, it’s no surprise that so many retirees choose to volunteer in their community. Volunteering offers tangible opportunities to make a difference in your community and the world at large, in ways both small and large. For some, it’s a part of a portfolio of activities, while for others it’s a mission-driven focal point.  While it’s primarily about the impact you can have, volunteer service is also an excellent way to form new relationships and cultivate a new purpose in retirement. But how do you find the volunteer match and the volunteer organization that’s right for you? Here are a few tips to keep in mind.

 

Why Volunteer?

According to the Corporation for National and Community Service over 77 million people volunteer annually. There are clear reasons why. You can do good – and it’s good for you. In fact, there are numerous benefits of volunteering. And many of these benefits can be enhanced for retirees. First and foremost, volunteering gives you the chance to help others; make a difference in the lives of others; and discover a new purpose.  Many people find that this is gratifying, especially after a lifetime of employment.

Volunteering also connects you to your local community. According to the National Institute on Aging, isolation and loneliness are seen as threats to the health of older adults. Volunteer service provides an excellent environment for forming new friendships and keeping social connections alive.

 

What Makes a Good Fit?

 

A Mission You Believe In

Volunteer service is best when you are able to apply your skills to an organization that shares a mission you are passionate about. Because retirement brings so many opportunities to volunteer, it’s wise to investigate where to devote your time and energy so that it’s with an organization you believe in.

If you’re having trouble finding a good volunteer match, try looking at volunteer organizations who align with your personal values and beliefs. Someone who is interested in community literacy, for example, may want to start their search by contacting a local library or bookstore.

A Role That Fits

Never overlook the importance of finding the right role. Finding a role that leverages your skills and experiences is optimal. Of course, this isn’t always going to be feasible due to the disparate needs of organizations. In any case, it’s a good idea to seek roles that allow you to be useful and productive.

People You Like

Who you’re working with during your volunteer hours is just as important as what you’re doing. The best volunteer engagements are those that put you in contact with people whose company you enjoy. After all, you don’t want to commit to a volunteer organization, only to discover that you’re butting heads with everyone there. (That sounds too much like work and you’ve graduated from that).

The Right Level of Commitment

Your volunteer role should not lead to feelings of stress or overwhelm. Determining your intended level of commitment is one of the best ways to find a role that works for you. Most volunteer organizations are used to dealing with scheduling conflicts, too, so you shouldn’t have any trouble establishing a plan that fits into your life. Make sure that your level of commitment is aligned with the expectations of the organization.

 

Things to Watch Out For

 

Jumping In Too Soon

Before adjusting to the rhythm of their freedom to retire, new retirees can easily bite off more than they can chew. Having the gift of time combined with enthusiasm can lead to over-commitment, and create a perfect storm of regret and resentment. Before getting too wrapped up in a volunteer role, plan – and test – how you want to invest your time in retirement and where volunteering fits into that. You may find that you really want to enjoy some hard-earned time off before taking on any new obligations. Starting when you’re truly ready makes things easier for everyone involved.

Overestimating the Volunteer Role You’ll Play

People transitioning into retirement from corporate life are often used to being in charge. As a new volunteer, they are often asked to do far less than they may want to do. Furthermore, they may be asked to do things that are far below their skillset and experience. It can be a blow to the ego.

When that’s the case, it’s important to reconnect with your reasons for volunteering in the first place. If you find yourself bumping up against the boundaries of your role and you start to become frustrated, it may be a good idea to step back and reexamine your priorities.

Saying Yes Without Getting the Lay of the Land

Without a reasonable level of due diligence, you may find yourself caught up with an organization that turns out to be quite far off from your original vision. To avoid this, make sure you read up on an organization before you commit to a volunteer role. It’s also helpful to research their place in the community and their plans for the future. Learn more about what it’s really like. Doing your part to learn about the organization will help you avoid any bad fits.

Underestimating the Politics 

You might miss some things about work. But no one misses office politics. However, it can be easy to get caught up in the uplifting mission of an organization and fail to realize that all organizations have political dynamics. Not-for-profit organizations are not exempt. You could find yourself caught up in a whirlwind that exceeds your appetite.

 

How to Volunteer Wisely

 

1. Clarify Your Reasons for Volunteering

Reflect honestly on your motivations and what’s most important to you. Are you simply looking to pass the time during retirement? If so, it may be best to consider other activities. But most people who volunteer have a stronger “Why” behind their volunteer activity. Many are driven by wanting to make the most of their freedom to retire by giving back. That’s a great starting point. But it’s wise to dig deeper and be clear about how you want to do so. Fast forward three to five years and envision how you will specifically have made a difference. Regardless of your motivations, it’s helpful to be clear about your own expectations.

2. Talk to People Who Know the Volunteer Organization Well

Try to absorb diverse perspectives from a variety of people both inside and outside the volunteer organization. Develop a sense of the opportunities that volunteers have to contribute. Ask them about the challenges they face. Ask them what has surprised them about the organization.  This kind of preparation is a great way to ensure that a particular volunteer organization is right for you. And it will prepare you well if you decide to go forward.

3. Research the Role

Do reasonable homework so you have a realistic picture of the role you’ll play. What’s the time commitment required? What are the responsibilities and boundaries of the role? How do they match up with your expectations? Answering these questions in advance can save you lots of time and hassle.

 4. Pick Your Spots

There’s no shortage of opportunities to serve. To find those that best suit you, be prepared to decline opportunities. Saying no presents a challenge for some people. But, learning how to politely decline opportunities can lead you to those that are right for you.

 

Take the First Step

Volunteer service is a great way to invest some of your time in retirement. So, do some homework on what would be the right volunteer opportunity for you. Start by visiting AmeriCorps Seniors or volunteermatch.org for information on opportunities in a multitude of causes across many locations in the US. 

 

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them design what’s next after their primary career.  He hosts The Retirement Wisdom Podcast talking with authors, experts, and retirees pursuing interesting Second Acts who share the lessons they’ve learned that can help you in your journey.

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You may be interested in this retirement podcast episode:

Our conversation with Chris Farrell, author of Paycheck and a Purpose

Hiring Older Workers: Reasons To Close The Gap

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By Susan Williams

We are currently experiencing a labour shortage in North America.

In the US, there are now more jobs than people looking for work and this situation is no different in Canada.

If you think this is a good thing unfortunately this isn’t necessarily the case. If left unchecked for too long, this situation could have a significant impact on the economy. This is because labour shortages can drive up wages as businesses compete to try and fill their vacancies. When the wages are increased, this also then increases the cost of products and services which then can turn into increased inflation rates.

But there may be some specific implications in this situation when it comes to older workers.

First the good news.

There are many people planning on working past the traditional age of retirement and this could be a really good thing to help in this situation. In fact, according to the Retirement Confidence Survey published by EBRI (Employee Benefit Research Institute), 8 in 10 workers believe they will work for pay in retirement.

Now for the bad news.

Out of these possible 8 workers that want to work for pay in retirement, they discovered only 3 actually do.

So we have a gap – and it’s a significant one for both businesses and workers.

If I was to do some very basic math, there are an estimated 10,000 baby boomers in the US crossing over into retirement age everyday. This represents approximately 3.65 million workers a year. So if 80% of these people would like to work longer and yet only 30% actually do, that would mean there is potentially a workforce each year of approximately 2.04 million people that may be going untapped.

But businesses need to be engaged and actively looking at this opportunity if they want to tap into these resources. But unfortunately, some companies current ageist attitudes are stopping them from doing this.

Harvard Business Review conducted some research with 10,000 companies and this is what they discovered;

“Over two-thirds of the companies considered older age a competitive disadvantage. This is consistent with data from the AARP that shows two-thirds of individuals age 45 to 74 have experienced age-related discrimination. In other words, if you are older, you are likely to be considered less capable, less able to adapt, or less willing to roll up your sleeves and do something new than your younger peers.”

But these aging stereotypes are so wrong. As I shared in a previous post concerning the developing issue of a gray ceiling for older workers, older workers actually;

  • help organizations stay more productive
  • contribute skills and experiences that can’t be developed overnight
  • stay with organizations longer then their younger colleagues
  • and to many people’s surprise are actually quite technically savvy

Along with not offering employment opportunities, many employers are also not supporting the development of older workers skills as well.

HRD (Human Resources Director) shared some research that they recently conducted with 1,000 employees in the United States. What they discovered was that “60 % of Baby Boomers feel insecure about their current skillsets, and 73% say their employers don’t help them identify the skills they need to develop for the future.”

So in a nutshell – here’s the gap we need to close;

Businesses need workers. Would-be retirees would like to work. It’s doesn’t seem that complicated to me to have some discussions and figure out some creative ways to do this – and do it well.

Flexible work options, offering interesting work and assignments, the chance to mentor employees are all just some examples of some ways to leverage this available talent. I think it’s just a matter of putting aside some outdated ideas and thinking and moving progressively forward into the future – for everyone’s benefit.

 

This article originally appeared on Booming Encore and was reprinted with permission.

Susan Williams is the Founder of Booming Encore – a website and social media network dedicated to providing information and inspiration to help Baby Boomers create and live their very best encore. Being a Boomer herself, Susan loves to discover ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and personally tries to embrace Booming Encore’s philosophy of making sure every day matters. For daily updates to help you live your best encore, be sure to follow Booming Encore on Twitter and join them on Facebook.

 

Power Up Your Purpose: Now’s The Time

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By Bev Bachel

Over the past few months, I’ve been asking people 50+ a simple question: How do you find purpose in retirement? Here are a handful of their answers:

 

“I’m spreading the word about phone scams so other people don’t lose their money the way I did.”

 

“Caring for my wife. She just had a stroke.”

 

“Fighting against pharma greed so people can afford their prescriptions.”

 

“I’m developing a program that benefits both kids and older adults.”

 

“Sharing my mental health journey to help de-stigmatize the issue.”

 

“Making my community better for all who live here.”

 

These are just a handful of the purpose statements I’ve heard from family, friends and colleagues over the past few weeks.

 

How will you answer the question: Where do you find purpose in retirement?

 

Why purpose matters

A purpose statement is like a mission statement for your life. It’s at the very core of who you are and what currently gives your life meaning. It sums up your reason for being.

 

Richard Leider, author of The Power of Purpose: Find Meaning, Live Longer, Better, defines purpose as “the reason you get up in the morning” and “the way you contribute value to the world.”

 

He also says that purpose is the path to happiness. And that’s not all: Research shows that people with a purpose live longer and enjoy a richer quality of life and better physical and mental health.

 

Busyness does not equal purpose

Some people believe that if you’re busy, you’re doing something purposeful and worthwhile. Speaker and author Helen Dennis disagrees. “Busy in itself isn’t the key,” she said in a recent episode of The Retirement Wisdom podcast. “You can be neurotically busy and terribly unfulfilled,” says Dennis.

 

Instead, the goal is to be busy with purposeful activities. When we’re working in a career, purpose is typically defined by our job. But once we retire, questions begin to surface:

 

  • Who am I without my job?
  • What gives my life meaning?
  • How can I make a difference?
  • Why am I on this planet?

If you haven’t pondered these questions prior to retiring, discovering your purpose may require some serious exploration. And even if you feel you have identified your purpose, it’s likely to continue to evolve as you grow and change.

 

For instance, you may start out focused on taking better care of your physical health (yes, that can be a worthwhile purpose) then evolve to a more other-directed purpose such as taking care of a loved one. Or, the opposite may happen. You may start out volunteering all your extra time to a favorite nonprofit then gravitate to staying at home with your grandkids.

 

According to Dennis, purpose is self-defined and one purpose is not inherently any better than another.

 

How do I find mine?

No matter your age, it’s never too late to identify your purpose. That is, of course, good news to all of us who may feel we are losing or have even lost our purpose as we leave our jobs and enter retirement.

 

But just because we’re no longer employed, doesn’t mean we have to retreat or withdraw. Instead, we can seek out new ways to make our lives more meaningful—to ourselves and those we care about.

 

To identify your purpose, try completing this formula I learned from Leider years ago:

 

Gifts (the things you are good at)

+ Passions (the things you love)

+ Values (the things that motivate you)

_________________________________

=               Your purpose

 

You may also want to take Dennis’ advice and meet with people who seem to have a “purposeful drive.” “Talk to them as if you are doing an informational interview,” says Dennis. “Find out what their purpose is and how they arrived at it. Ask questions.”

 

Add a paycheck

Many people who crave purpose also desire—and perhaps even require—a paycheck. I’m one of them. Perhaps you are, too. If so, you may want to read Purpose and a Paycheck: Finding Meaning, Money and Happiness in the Second Half of Life or listen to this Retirement Wisdom interview with Chris Farrell.

 

In both the book and the interview, Farrell, Next Avenue contributor and Marketplace senior economics contributor, tells compelling stories of how older entrepreneurs and part-time workers are fueling our economy … and making career changes with greater purpose and meaning top of mind.

 

Not only does doing so make us happier and more fulfilled, it enables us to work longer if we choose, something Farrell says will only be possible if—when we get up in the morning and put our feet on the ground—we actually want to be going the work.

 

I know I, do. And I imagine you do as well. So let’s support one another in identifying our purpose and finding meaningful work that truly will make a difference, in our lives and the lives of others.

 

Bev Bachel is a freelance writer and editor, and the author of What Do You Really Want? How to Set a Goal and Go for It. A lifelong goal-setter, she’s tapped into the power of goal-setting to mentor teens, lend a helping hand to her neighbors and make a difference in her community. One of her purpose-filled goals? To visit her 93-year-old aunt each week.  

Podcast Episodes You May Like

Why Settle for Happiness in Your Retirement? – Emily Esfahani Smith

Design Your Life and Get Unstuck – Dave Evans 

How Seniors Are Saving the World With Activism – Thelma Reese

The Skill Set for Life’s Transitions – Bruce Feiler

Lessons from Kobe Bryant’s Life After Retirement

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By Joe Casey

Remember Kobe Bryant’s retirement? It didn’t take long, but he was thriving in life after retirement. He was passionate about his second career in retirement. And he had already won an Oscar.

You’ll always remember where you were when you heard the news. And again later when you heard that his 13-year-old daughter was aboard the helicopter as well. Kobe Bryant dead at 41. Nine lives were lost and many families devastated.

We were in Boston, my hometown, visiting our oldest daughter who lives there now and with our son on a college visit. (Yes, I am writing this as a lifelong Celtics fan). It did not seem real at first. It took a while to process. So shocking and so very sad.

More Than a Basketball Icon in His Life After Retirement

Reading the reactions from those who knew him painted a picture of his life and who he was.  An iconic NBA player. A father of four daughters. A Valued Mentor. A Creative Person. An Entrepreneur after his retirement from the NBA in 2016.

He leaves a compelling legacy after a short life. The high-flying lifestyle of a recently retired top-flight professional athlete may not seem relatable, at first. Agents and other handlers. The astounding levels of wealth created.

Kobe with was blessed extraordinary talent and physical gifts that provided a foundation for success. Beyond his talent, Kobe Bryant’s story, which ended far too soon, was rooted in an exceptional drive and work ethic. But tragedies like this one remind us that they are indeed still human and mortal, just like the rest us.

Reflecting on what I’ve read and heard in the aftermath of this terrible accident, I’ve noticed Kobe Bryant’s life offers some valuable reminders about life after retirement:

Plan for Life After Retirement – But Live Fully Now

Make no mistake. It’s essential to plan for retirement. You need to establish a level of financial security and a degree of certainty for the future. And it’s wise to plan for what’s next and what you want to do in your life after retirement. But it’s easy for the discipline it takes to retire well to become an obsession. Planning for retirement includes a mindset of sacrificing today to invest for the future. Be mindful to strike the right balance. Figure out how to live fully in the now as well. As hard as you may try you can’t plan for every variable. Don’t create regrets.

Be Multidimensional

Kobe was definitely one of the most intense and disciplined pro athletes of all time. But there were more sides to him than his obsession with and success as a basketball player. Because he spent years as a child in Europe, because of his father’s pro basketball career, he became multilingual, becoming fluent in Italian and Spanish as well as English. He also cultivated interests beyond basketball, creating a foundation for a robust second act career. What are your interests outside of your professional life?

Create a Second Career

Following his retirement from the NBA in 2016, Kobe Bryant quickly built a thriving second career based on his variety of interests. He started an interesting series on ESPN+ called Details breaking down key players and games in-depth from his experience and perspective. Notably, he created a production company, Granity Studios. He developed a short film “Dear Basketball” that won an Academy Award in 2017. Since then, he created a series of books for children, The Wizenard Series, designed to inspire kids.

What could a second act career possibility be for you? Are there skills and interests that you could leverage in your life after retirement? It may not be a production company, but it might be something you could do part-time that fits with your vision for your life after retirement.

Focus

Kobe Bryant was extremely driven and ambitious. When you look back at the entirety of his basketball career and his post-retirement pursuits, his ability to intensely focus on what he wanted stands out.

What’s next for you? What can you focus on now that will help you be better prepared for your future.

Mentor Others

The outpouring of emotion following his sudden death including a tsunami of messages and stories form NBA players past and present. It was instantly clear the impact that Kobe had with teammates and peers. It was also abundantly clear that many of today’s NBA players had idolized him growing up and he was their hero. The stories emerged about how many younger players he had mentored, trained or supported. Here’s one small example of support following Gordon Hayward’s serious injury on the opening game of 2017.

Who are you taking under your wing? Keep an eye out for opportunities to help people learn from what you know.

Mentor someone and pass along your experience and wisdom. it can make a big difference.

Think about this life lost too soon.

Honor his legacy by applying one of the many lessons he leaves behind.

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them discover and design what’s next after their primary career.  He’s the host of The Retirement Wisdom Podcast talking with authors, experts and retirees pursuing interesting Second Acts who share their lessons learned that can help you in your journey.

Test-Drive Your Retirement – Kiplinger

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Everyone wants a happiness in retirement. But sometimes when you plan to retire, your visions don’t fully match up with the realities of retirement life. And there’s value in testing them so you can make adjustments ahead of time.

There’s a lot of wisdom in the maxim Try Before You Buy. What about retirement though?  Two of the most valuable assets in retirement and money and time. Happiness retirement is about more than financial security. But sometimes people who are very careful with their financial resources are surprisingly less thoughtful about their time. Some people will invest hours in researching all of the options, features, and cost comparisons on a car they’ll lease for 36 months, but then wing it when it comes to their plan to retire for the next 20 to 30 years of their life.

Happiness in Retirement Takes Planning – and a Reality Check

Ironically, even people who plan meticulously for the financial side of retirement are more cavalier about planning for their life in retirement, taking a “we’ll figure it out as we go'” approach.  The risk with that approach is that you could squander time – and that may turn out to be your most precious asset of all.

Alina Tugend examines the idea of testing life in retirement to become a more informed consumer in this Kiplinger article Test-Drive Your Retirement. Retirement Wisdom is quoted in the piece (along with Bev Bechel and Fritz Gilbert, who we consider to be friends of Retirement Wisdom). As you consider key questions like Where Will We Live; What Will I Do in Retirement?; and Who Will I Be in Retirement? taking a test-drive can inform your choices.

The article gives examples of how people have tested key parts of their financial plan and tried out various aspects of their desired lifestyle. A test drive can confirm and validate your assumptions, give you a grounding in the realities of your ideas, and spur new ideas and avenues to investigate. If it leads you to make some course corrections, do further research, or even to go back to the drawing board, you’ll be doing so ahead of time so you’re protecting the time you’re working so hard to create for your retirement.

So, take it for a spin. You’ll learn a lot.

Test-Drive Your Retirement: Before you quit your job, try out your new budget and your new lifestyle. By Alina Tugend first appeared in Kiplinger.com

Relevant Podcast Episodes:

Chris Mamula shares his lessons learned in his transition to early retirement.

Michelle Pannor Silver, author of Retirement and It’s Discontents, discusses her research on the challenges faced in transitioning to retirement by people who love what they do and have their identity tied to their work.