Some of you might feel a sense of restlessness regarding retirement. We've all heard the familiar saying that retirement signifies giving up and calling it a day. Restlessness and anxiety have reached such a peak that we are all searching for new ways to articulate our opposition to conventional retirement.
If you're not quite ready to halt your work or are interested in exploring alternative paths beyond the age of 60, this blog post is for you. Today, I urge you to take charge of the life you yearn for and embark on unconventional paths that bring fulfillment while embracing a longer lifespan. There is no compulsion to conform to the conventional notion of retirement as the ultimate goal and destination.
Remastering vs Reinvention
Many of us have experienced various phases in life that have prompted reinvention. The notion of reinventing oneself can be intimidating. However, "remastering" aligns with harnessing the best of our experiences and elevating our lives. As we embrace longer lifespans, this reframing of our mindset becomes paramount. That is exactly what women who aspire to do things differently convey to me. They strive not to overlook or diminish the wealth of knowledge, skills, and experience they've amassed over the years. Instead, their goal is to transcend these qualities, harnessing them into wisdom and remastering their lives.
Unleashing Limitless Potential: Embracing Endless Opportunities
Why confine ourselves to the concept of "retirement" when an abundance of untapped possibilities is waiting to be explored? As women, we showcase our strength and resilience by persisting in our work and making a profound impact even in our 60s, 70s, and beyond. We can redefine success and fulfillment in our personal lives and as professionals, even in the later stages of life.
Whose Vision Is It Anyway?
When making decisions about retirement, it is crucial to consider your unique circumstances and goals. It is worth noting that many women still hold onto beliefs influenced by marketing messages such as "Freedom 55" and societal expectations of traditional retirement. Questioning the origin of these messages and their underlying agenda is important. After all, whose vision of retirement or freedom is it anyway? Did we truly believe retirement would resemble an endless vacation, with luxury yachts and beaches year-round?
A survey conducted by the Canadian Association of Retired Persons (CARP) in 2019 found that 64% of Canadian retirees still prefer a traditional retirement lifestyle. However, a poll conducted by the Canadian Imperial Bank of Commerce (CIBC) in 2021 found that 52% of respondents didn't feel financially prepared for this path. It's not surprising considering BMO's recent poll reported that Canadians now believe they'll need $1.7 million USD to retire, a 20% increase from 2020.
Exploring Alternatives to Traditional Retirement
Retirement is no longer a one-size-fits-all concept. There are unconventional paths that deviate from the traditional route.
One such option is semi-retirement, which offers a well-balanced lifestyle. Instead of completely ceasing work, individuals can reduce their working hours or transition to part-time employment.
Another emerging choice is micropreneurship, where individuals establish sustainable businesses or become self-employed as consultants or independent contractors. This grants them the freedom to work on their own terms, pursuing endeavours that bring a sense of purpose while meeting their financial needs and aspirations. It is worth noting that this surpasses mere "side hustles" and encompasses businesses that hold significant value for individuals, families, and communities.
A career change is popular for those seeking to pursue new passions and interests or diversify their skill set.
Volunteering and advocating are attractive options for individuals who want to contribute actively to their communities. This period of life is often seen as an opportune moment to dedicate time and effort to organizations or causes that ignite their passion. Supporting and caring for one's family is also valued as a meaningful way to give back to loved ones.
Let's explore the concept of "unretirement" or "serial retirement." This unique approach involves flexible work arrangements, such as part-time or full-time work, or transitioning in and out of the workforce at different intervals. The beauty of this option is that it allows individuals to stay actively engaged in their professional lives, pursue their purpose, share knowledge and expertise, foster social connections, and increase their income.
The Choice is Personal. Do not Compare. Do not Judge.
Choosing between traditional retirement and an alternative path is a deeply personal decision that relies on individual circumstances, goals, and preferences. It's crucial to challenge outdated norms without comparing or judging others. Instead, focus on what truly resonates with your aspirations. Now is the perfect moment to let go of comparison and embrace change with an open mind.
The choices you make today have the potential to unlock boundless fulfillment in this exciting new chapter of your life. Never underestimate the power of your decisions and embrace the endless possibilities that await you. It's important to emphasize that there is no singular "right way" to live life after 60.
Let's celebrate our individuality and refrain from comparing ourselves to others or judging those who choose a different path.
Final Word - Your Executive Encore
Traditional retirement is neither obligatory nor marks the end. We can live at our own pace, embracing our purpose and finding fulfillment and happiness in the next chapter. As women over 60, we possess a wealth of valuable experiences that empower us to make choices that align with our best interests. Doing so unlocks a world of boundless opportunities, enabling us to lead meaningful and satisfying lives. Our independence is a precious gem that brings benefits to all.
Let us embrace the exploration of alternative paths, connect with communities, and share our unique stories. With the right resources and support, we can all embark on the journey of Remastering Life.
Executive Encore™ is a program and platform that offers essential resources and support during this crucial stage, providing personalized and group coaching sessions and engaging video podcast interviews. These initiatives are invaluable as they foster a vibrant community of women entrepreneurs, micropreneurs, and executives, offering unparalleled support, advice, and mentorship opportunities.
Your Next Steps
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