How to Achieve a Successful Second Career in Retirement

make money after retirement

If you’re one of many Americans who is approaching retirement age — and is eager to start the next chapter of life with a new career — here are some pieces of advice.

1. Know What You Want From a Second Career
A successful second career can be challenging to your identity.
The Occupational Outlook Handbook is an excellent and comprehensive resource for learning about different careers. You can learn about the work environment, salary, job outlook, education requirements, and so much more.

There is also a slew of books that can help you identify how you might want to spend the rest of your life. Options include:

  • The Encore Career Handbook: This title comes from
  • What Color is Your Parachute?: This classic is as relevant now as it ever was.
  • I Could Do Anything If I Only Knew What it Was: Another classic that focuses on helping readers find their passion.
  • From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life

2. Be Honest About Your Time Commitment for Your Second Career
Starting a new second career requires a lot of time and effort, and it’s important to be honest about how much time you are willing to dedicate to a new professional endeavor.
Some of the time required to transition into a new career can be tied up in learning new skills. Sometimes skills transfer to the next field, but it’s not always that easy. Taking any required training courses while still at your current place of employment can help make the transition into a new career much easier and quicker.

3. Learn the Ins and Outs of Your Next Career After Retirement
Sometimes, those who enter a new field discover their desired role wasn’t what they had imagined.
For those who know the switch is the right fit for them, begin building a network in that new field now, before assuming the new role.

4. Embrace Your Inner Youth for Success in Your Second Career
Your new career may have you working alongside millennials, and it’s important to show a new employer that you can collaborate with them.
Older workers have a great deal of sophistication and experience to contribute to any organization, and keeping up with the latest trends and technology is an important way to make sure your strengths are not overlooked.

5. Update or Create Your Retirement Plan With a Second Career in Mind
Working in retirement can impact many details of your overall retirement plan: your retirement income, health benefits, taxes, how you should be invested and so much more.

It is important for you to understand the implications (mostly positive) of your overall plan. Find the right financial adviser.

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