As 10,000 Baby Boomers turn 65 every day, the definition of “Retirement” has been evolving and changing as this decade moves forward.

For some, retirement is the end of daily work and the beginning of a 2nd act that does not require you to commute or get to a certain place on time. You have chosen to spend your days with friends, family, travelling, and perhaps volunteering and enjoying your time. However, recent studies have shown that more people ages 65 and older “are working more than any time since the turn of the century,” according to the 2016 Pew Research Center analysis of employment data from the Bureau of Labor Statistics. One in five seniors ages 65 and older are working part time or full time reported by the New School for Social Research, this past January.

Some Americans are working because they want to and are passionate about the work they are doing. In their 2nd act, their passions may have them working in a completely different field, enabling them to grow and learn a new skill and serve a different purpose. And there are many Americans, due to the Great Recession, that need to continue to work past the traditional retirement age of 65, in order to secure their retirement in the future.

For those who desire to remain productive or who want to learn a new skill or to continue to develop a passion they have had and not been able to see the fruits of their labors, now is a great time to experiment, to see how best to share your skills and your knowledge with your community.

We share our thought process on how to assess what you wish to do in your 2nd act with questions and a thought process to help you make decisions along the way:

1. Do I want to work and why? Do I need to work for financial security? Mental stimulation? Social connections? And/or is it a way to spend my days in a productive manner?

By investing time to think and feel how you want to spend your days upfront, will be very rewarding when you do make your decision to leave your current occupation. Take time to journal and discuss with friends and family to spot check your overall needs. And of course, make sure that the financial aspects of your lifestyle needs are cared for. That in fact you will have enough assets and income to live the lifestyle that you desire.

2. Take time to assess your skills, your passions and your purpose as we can and do change over time.

You may find that because of the career that you had, that you did not tap into a skill/resource that you have always had, and your work did not exercise that native skill! We have found in our collaboration with clients, that those who follow their passion and purpose, in their 2nd act, have enjoyed their “work” immensely. (Their “work” is not work!) You may also have a hobby that you have pushed to the side over the years and there are many budding entrepreneurs who have taken their hobbies in their 2nd act and are putting money in their bank accounts! Earning money in your 2nd act can be fun and profitable!

3. Take time if you have “retired” to learn a new skill or knowledge to pursue the job or business that you desire.

There are so many resources available to us today, both online and in person resources/classes etc. The Internet, has brought us a treasure trove of knowledge at our fingertips.

4. Use your social connections/your business network to find jobs, or opportunities to see where you may have a best fit.

And we suggest that you remain flexible on contractor status versus an employee; hours; and even compensation. It is probably more important to find work that really makes your heart sing and fills your bank account too.

5. Along with the online education and knowledge opportunities, the Internet provides online job sites; and many employers use online advertisements for new hires.

There are special sites cater to people who want to work in “retirement”. AARPs and are two sites that may be helpful.

6. Bonus Tip-For those who work in larger organizations, you may be able to remain working post-retirement, on a reduced schedule or taking on project work.

Many times, your retirement may not come at a convenient time for your employer and they may be willing to negotiate a part time position or a “must do project” that only you can fill.

The retirement scene has changed quite a bit since the late 1990s. Much of the change is due to the Boomer Generation not quite ready for traditional retirement and some of the change certainly due to the impact of the Great Recession on many in the workforce. For many of you looking at what to do in “retirement” taking a fresh look is helpful to make sure that your days are spent feeling productive, enjoying your time no matter what you are engaged in, and that your life is fulfilled as you have always dreamed.


Marilyn Suey is a registered representative with, and securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Strategic Wealth Advisors Group, LLC, a registered investment advisor. Strategic Wealth Advisors Group, LLC. and The Diamond Group Wealth Advisors are separate entities from LPL Financial. CA Insurance License #0E01981