I'm not a sociologist but I think I'm a fairly observant person and I've noticed something interesting about my contemporaries -- women 50+. Many of them are contemplating retiring from their careers, but quite a few are gearing up for what I call "Retirement Careers" or "Careers 2.O."
Maybe it's a generational thing -- Generations X isn't as prepared for retirement as the boomers, so maybe we figure we need to keep working as long as possible so we have enough to see us through the rest of our lives. A recent study by the National Institute on Retirement Security reports that Gen Xers aren't building enough savings to maintain their standard of living in retirement. Women are even more vulnerable, research shows that women have about 30 percent less saved for retirement than men. Women are also more likely to run out of retirement savings than men, so economics definitely plays a part in this.
I think we also know that retirement can be bad for your health. Studies show that retirement can increase depression, feelings of isolation and even obesity. And working, especially if its work you enjoy, helps keep you focused and sharp. And then there's our generational skills that make working fun for us. We have an entrepreneurial spirit, we are resilient and resourceful, and we are technologically competent. A great toolbox for life-long learning and extended or second careers.
But I don't think that's the whole story. I have quite a few friends who are excited about changing careers, doing something new, and putting their many decades of skills and knowledge to work in some capacity after retirement. I don't have to look very hard for examples. In my own family and circle of friends are numerous women preparing for their retirement careers, including:
My best friend who spent her career in tech but owns an art supply and art mentoring business on the side. If things go well she could take her business well into her 70s as she inspires other women to embrace their creativity.
My sister-in-law, who ran a successful graphic design agency for years, is embracing her retirement by becoming a children's book illustrator, something she's always wanted to do.
My friend at work whose planning to spend her retirement as a handy woman, helping other women with their household repairs and fix-it lists.
It's inspiring, because I've long known that retirement for me would be a second opportunity to take career chances I felt I couldn't take when I was younger and raising a family.
The women of Generation X were raised to do it all -- we are experts at multitasking. For decades we juggled careers, children, households, complicated family calendars, and more. Yes, it was stressful and probably took a toll on our mental and physical health. But we did it and now that the children are grown or at least, self sufficient, we may find it difficult to ease into a leisurely life of retirement. Put another way, you can't stop on a dime. I think GenX women are doing that, tapping the breaks lightly and slowing down, but not stopping.