Forbes, July 2017
How To Turn Your Retirement Into A Great Second Life
There is a love/hate relationship that goes on with Americans and their jobs. We talk about the day we can retire yet research has shown the average American will put in 47 hours a week for more than 50 years. While many do enjoy the time to relax and "do nothing," there is a handful who still hunger to be busy and productive. Merrill Lynch and Age Wave released a study titled Leisure in Retirement: Beyond the Bucket List and here are a few of the findings.
Š Eighty-eight percent of retirees say retirement is a time for new beginnings.
Š Few retirees have thought through how they will spend their time in retirement, with 53% having hardly planned at all.
Š The vast majority (92%) of retirees say retirement provides them greater freedom and flexibility to do what they want.
Retirees are doing what they want and boredom is not on the list of activities. Here are what a few clever baby boomers have found to keep themselves busy.
If you own a boat and you're looking for a great way to make a little extra money Rob Erich suggests signing up with Boatsetter. You can either rent your boat or sign up to be a "captain," which will earn you around $800/month (not including tips from passengers).
"I think one of the best things to do when you're retired is to be a mentor to young upstarts," says Sacha Irving of Empress Mimi Lingerie. "It feels so good to be able to share the wisdom and knowledge you have gained over the years with someone just starting out and trying to do something amazing." Irving likes to mentor female start-up founders. She uses an app called Mavenli to find mentee's.
The remarkable 91-year-old Phyllis Zeno has written 60 songs for four musicals in the past four years. She works with 40-plus of her peers at a continuing care retirement community called Asbury Methodist Village to direct and perform to full-house audiences of 900 each.
After building and successfully selling five businesses, Miami resident Marty Schultz decided to retire. That lasted for one week. In 2012, Schultz started Blindfold Games, an app development company that builds accessible games for the visually impaired community. To date, the company has released over 80 games that promote learning through gamification.
Franchise businesses are booming options for boomers like Dennis Jensen. He retired in 2003 from Visa after nearly 20 years. Following eight years of rest and relaxation, he'd had enough. While on a Hawaiian vacation, he and his wife noticed that a local ice cream franchise was busy. Shortly after, he and his wife purchased a Molly Maid cleaning company and they're still running it to this day.
Lee Franklin was in corporate accounting for over 33 years with Texaco/Chevron and his wife Kristl a published author and scriptwriter for 20 years. The franchise of their dreams appeared after visiting Camp Bow Wow, a doggy daycare facility. The couple was inspired to open their own location in North Oak Ridge Business Park. Today, the business is the perfect fit for the two of them and their entire family.
At 73, Ron Olson, the "Godfather of Resale," started a new resale business called NTY franchising, which franchises clothing resale stores for women and children. He bought 3 resale stores called Clothes Mentor and today has grown the business to more than 150 stores. How does work after retirement make him feel? “Invigorated, alive and engaged,” he says.
Or you can always cultivate your intrinsic human interest in trees, flowers, vegetables. Hunt for them in botanic gardens, in your neighborhood or on vacation," says Katherine Wagner-Reiss, a retired physician. "Grow them indoors and out, propagate them, sell them, arrange them, cook them, photograph them, learn about them in a class or on your own, teach others about them, enjoy them- I promise, you will never be bored with life again!" she enthused.