I’m a sucker for books that promise to point me in the direction of retirement security, especially when the information is so current, it hasn’t even been published yet. So when I heard that Bloomberg Press was about to release financial expert Mark Miller’s “The Hard Times Guide to Retirement Security”, I immediately asked for a review copy.
You may recognize the author’s name if you regularly visit HuffingtonPost.com or CBS MoneyWatch.com. Mark’s also recently been making the rounds of conferences, such as the American Society of Aging, where I caught up with Mark in person. Face-to-face, he’s got just enough gray to appear dignified, with a look in his eyes that manages to come off as savvy and compassionate at the same time. You instantly want to trust this man.
Which is why any of us Boomers who still fancy the notion of a retirement as a never-ending vacation that centers around sitting on a beach somewhere sipping pina coladas or putting around a golf course should put this blog down immediately.
Still with me? Thought so.
Like most Boomers, when it comes to stereotyped retirement fantasies, you don’t even need to read past Miller’s table of contents to see the writing on the wall. After a whirlwind tour through Social Security, Pensions, 401ks and the like, we get to the heart of the book: “The New Working Retirement.” Turns out that the real secret to retirement security for most of us is going to be—you guessed it—continuing to work as long as possible.
The good news is that Mark has upbeat advice for the 50+ crowd, everything from how to launch a lifestyle business to hiring a career coach. Paraphrasing and building on Mark’s suggestions, here are five tips for Boomers who plan to add “encore careers” into their retirement portfolio.
1. Looking for an office job? At least appear to be up on the latest in cyberspace. Take notes during the interview on your new iPad, for instance. Make sure you have a business-like email address and don’t make jokes about you and technology that have anything to do with dinosaurs.
2. Resumes and Age: “Don’t Ask, Don’t Tell.” Experts disagree about the sticky resume age-disclosure issue. But as a rule, keep your resume as ageless as possible by listing degrees but not the year you graduated, for example. And ditch bragging that you have over 30 years experience. Interviewers, especially those who haven’t even been on the planet 30 years, don’t really want or need to see what you’ve been up to prior to the turn of the millennium.
3. Consider starting your own business. It may sound counter-intuitive to become an entrepreneur during a recession, but there are some positives to consider. For one, suppliers slash costs and you can really cut a deal on office space. Secondly, the upside of the high unemployment rate is that there is a big talent pool of prospective employees.
4. Hire career coaching services. If one-on-one coaching isn’t for you, seek out one of the many career networking support groups, group retreats or boot camps. The point is, you don’t have to go this alone. Retaining outside perspective can help you sort through the daunting process of clarification, planning and execution on the way to your “new working retirement.”
5. Think about giving back. If you need continuing income, look into encore careers—transitions into second paid careers with social meaning. Even if you don’t have to work, our generation tends to be drawn more towards the center of community life through volunteering and unpaid service rather than moving towards the margins of a life-of-leisure, even if there is a pina colada involved.
To learn more, visit www.HardTimesRetirement.com. “The Hard Times Guide to Retirement Security: Practical Strategies for Money, Work, and Living” will be published by Bloomberg Press, May 5, 2010. You can order advance copies at Amazon.com.