By Eric Reich
I’ve specialized in retirement planning for the last 20+ years, so this is going to seem like a strange article coming from me but the truth is, retirement isn’t for everyone. There are some retirees who just can’t seem to adapt to the retired lifestyle, and for those people, going back to work is more enjoyable than retirement. I know some of you just read that and immediately said to yourself “no way!”. But what if unretiring didn’t mean going back to your Monday to Friday 9-5 job, but rather to the things you are most passionate about in life?
Imagine for a minute that you could go back and work at a job that you designed yourself, working as much or as little as you want, and doing only the things you enjoy doing the most. While that seems highly unlikely for someone mid-career, it isn’t as far-fetched as it sounds for a retiree. It’s no secret that there is a labor shortage in America right now. Bringing on a retiree who may not need benefits, etc. who is looking to fill a part-time need might be exactly what some employers are looking for right now. Further, those employers might be fairly flexible on the details of the job as well in order to get a skilled employee with a great work ethic, etc.
If the job you are hoping to get doesn’t exist, you could always create it yourself. Your lifetime of skills may make you a sought-after consultant. Starting your own part time business based on a hobby or passion could provide enough fulfillment that the rest of your time in retirement seems more enjoyable. For the clients I’ve seen return to the workforce based on desire not need, I could clearly see a difference in their attitude and mindset once they started working again, particularly when it was based on passion and not a need for income. If you are comfortably retired financially, then you don’t need to worry about making a lot of income in retirement, you just need to enjoy waking up each day and doing something that you love.
So where should you start? Well first, you need to take time to reflect on what you are truly passionate about. Start writing down what your dream job would look like even though it might not exist as far as you know. Think of things like, how many hours would I do it? Where would it be located? Can I do it from home or do I have to drive there? What would a future retirement from that job look like, meaning how many years would I want to do it? From there, start to do a little research. Does this job already exist? If not, what would I have to do create it? Would it take capital to start it or just your time? Once you have the answers to these questions you can begin to formulate a plan for your new dream job.
For me, the idea of at least a partial retirement sounds really appealing. I can’t imagine not doing what I do because I love it so much. That said, the idea of buying 1000-acre reserve where I can adopt all the dogs nobody wants sure sounds appealing too!
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Reich Asset Management, LLC is not affiliated with Kestra IS or Kestra AS. The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation. To view form CRS visit https://bit.ly/KF-Disclosures.
Eric is President and founder of Reich Asset Management, LLC. He relies on his 25 years of experience to help clients have an enjoyable retirement. He is a
Certified Financial Planner™ and Certified Investment Management AnalystSM (CIMA®) and has earned his Chartered Life Underwriter® (CLU®) and Chartered Financial Consultant® (ChFC®) designations. A lifelong resident of Cape May County, Eric resides in Seaville, NJ with his wife Chrissy and their sons ,CJ and Cooper, and daughter Riley.
