There was a time when people retired at about 60-65 and then moved to the coast to play golf and see out the Golden Years with a good pension.
No more. With better medical care and more sensible nutrition people are living longer, and many prefer to stay active. Others are forced to stay active because their retirement funds are not supporting the lifestyle they thought they would have. A third group are those that choose to retire early, to cash in their chips and prepare for meaningful self-employment as the last phase of their working lives.
Whichever of these are opted for, companies employing people at this stage of their lives, will have to take account of the fact that retirement is now a whole new ball park. It used to be that the HR department only had the responsibility to arrange the farewell party and click in the pension arrangements. One day a person was still working and the next day they were out to grass.
Employers have a new responsibility…..
Now the matter is somewhat more complex, and if companies want to behave in a responsible manner they will address the retirement issues with a different perspective. It goes beyond just offering retirement counselling. It is now important for the company to shepherd a prospective retiree toward a meaningful and a productive retirement by encouraging the development of a next stage of self employment while they are still in a full time job. From about 50-55 years, executives ought to be encouraged to start thinking about their next career and get used to self employment and the benefits of a portfolio life. Early retirement entrepreneurship is taking root. Starting a new business is not just for the new graduate. The Baby Boomers are now breaking new ground. But they need help.
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