Following 27 years of service at Fidelity Investments Nan Ives eagerly seized the chance to accept an early retirement offer when she turned 59. Eager for some respite from her busy work schedule, she believed she shouldn’t let this “incredible opportunity” slip away from her employer. Dreaming of travel adventures, extended stays in Cape Cod during weekends, and indulging fully in golf, she now possessed both the leisure time and financial means to turn these aspirations into tangible experiences.
However, the initial phase of enthusiasm quickly passed, as Ives, who is now 65 years old, explains. Pawonation.com Although she took on additional jobs from time to time, she soon found herself overwhelmed by a feeling of emptiness and lack of direction, which overshadowed the happiness she initially enjoyed while playing golf.
“I couldn’t wait to retire. I felt exhausted and wasn’t up for it anymore. However, retiring at 60 means you might live until your 90s, which is essentially one-third of your lifespan. What then?” Ives explains. “While you won’t have to work or face the challenges associated with employment, you’re left without a clear plan for such an extensive period of time.”
It turned out that a previous colleague of theirs, Lisa Stornaielo—who had likewise chosen an early exit from work—was experiencing similar dissatisfaction. Following numerous discussions, the pair realized they weren’t seeking traditional retirement; instead, they wanted to craft a new chapter for themselves according to their preferences—a personalized blueprint. Ultimately, this led them to establish The Future of You, an initiative aimed at assisting both people and organizations with navigating and reshaping the concept of transitioning into retirement.
Says Ives: "60 is not old, 70 is not old. It’s a state of mind."
Ives and Stornaiello, aged 62, are not alone as retirees who start to experience a sense of diminished identity and purpose after leaving their jobs. Actually, nearly one-third of retirees suffer from depression , due to the loss of routine, structure, a social circle, and so on. A hard-stop retirement , similar to those faced by Ives and Stornaielo, can be particularly challenging for numerous individuals to negotiate.
But also like a rising number of university-trained baby boomers The women are choosing not to retire and instead remain active in their careers past the age of 65, rather than ending their professional lives entirely. They report feeling happier now compared to before and derive joy from assisting others. According to Ives, she has found fulfillment in developing her business and acquiring skills such as mastering new research techniques, collaborating with contractors, and refining video-editing abilities.
They now have what Mark Walton, a previously employed reporter, refers to as the "un-retirement" strategy. Walton, author of the book, Retirement Reimagined: How Successful Individuals Thrive Joyfully Beyond Work explains that this applies particularly to those entering retirement age, and even more so for those who excelled professionally It’s crucial to establish more than just a financial strategy; having an all-encompassing life plan can also mitigate feelings of isolation and ennui during this phase. Although numerous people think they will readily occupy themselves with hobbies, volunteer work, vacations, and spending time with relatives, reality frequently contradicts these expectations.
"Never did I truly grasp how someone transitions from a fulfilling—and what we perceive as a significant—profession to choosing something less impactful," Walton explains. Pawonation.com .
Since the 1980s, the workforce among those aged 65 and older has increased fourfold. This can be attributed to various reasons, with many individuals naturally choosing to continue working. work due to financial necessity ; the retirement crisis is indeed quite serious. (Notably, numerous elderly Americans who wish to continue working might not possess the physical capability to do so). But researchers have noted Baby boomers working in white-collar positions, who feel they have no reason to retire, now constitute a significantly bigger part of the workforce compared to before. Actually, those with college degrees fall into this category more often than not. more prone to work beyond the age of 65 those without a degree.
As people live longer lives, many are finding themselves with less physically demanding roles due to technological advancements. According to Walton—who understands personally what it feels like to be ready for retirement yet feel capable of much more—flipping an imaginary switch to leave the professional world isn’t feasible for numerous members of America’s inaugural group of white-collar employees. Thus emerges the concept of ‘un-retirement.’
Crafting an unretirement plan
A plan for returning to work after retirement doesn’t necessarily mean sticking with the daily grind of corporate life. Instead, as Walton suggests, there are three main components: fascination, flow, and generativity—elements that can be pursued according to personal preferences.
To start with, consider what fascinates you. What subjects captivate your interest? Where do your skills lie? And what activities bring you joy?
"As Walton points out, what truly counts is that individuals not just appreciate but are captivated by their jobs,” he notes. “These roles might evolve over time; some folks stay within the same industry whereas others completely reshape their careers.”
Walton emphasizes that fascination is essential as it paves the way to the next stage, known as flow—or becoming completely absorbed in one’s task. In these moments of flow, time seems to vanish, allowing total immersion in what one is doing. The specifics leading up to this state vary from individual to individual; according to Walton, it occurs when someone dedicates their full attention, abilities, expertise, and vigor to meaningful tasks. He notes that keeping the mind engaged is crucial for numerous people's well-being.
He notes that incorporating challenges which expand our cognitive and skill capacities, instead of opting for easier pursuits, forms a crucial element of a robust unretirement strategy.
Flow leads to generativity. As Walton explains, this concept encompasses the human tendency to “give back” or assist others, which holds significant importance for numerous individuals during life’s later stages. Frequently, having a sense of contribution is essential to avoid “personal stagnation and emotional despair.”
"Unless you do that, you won’t fulfill your potential as a person," states Walton.
A retirement revolution
Walton notes that numerous individuals refrain from discussing the absence of fulfillment they experience during retirement, often due to feelings of shame or embarrassment. To address this issue, Stornaiolo and Ives are creating an environment where people can comfortably seek more and discover their passions—passions that might initially appear unclear but ultimately prove meaningful.
For instance, one client loved exercising and thought about training as a personal trainer. However, Stornaiolo and Ives observed that she became animated when talking about assisting her son and her friends. LinkedIn She now assists recent graduates by consulting with them and aiding in launching their careers.
“You’re free from work now, yet the reality hits: ‘This is tougher than expected.’ Facing an uncluttered schedule when your days were typically packed can feel overwhelming,” explains Ives. “Golf takes up much of my time, but will that alone motivate me to spring out of bed each day? Our aim is for folks to discover fresh passions and pursuits that ignite their enthusiasm.”
After generating these concepts, they assist clients in developing strategies, understanding that all plans can evolve over time. Similar to how one might adjust their finances, retirement isn’t static either—it requires periodic recalibration as well, according to Ives.
To date, the collaborators have implemented their initiative across different-sized enterprises ranging from banks to nonprofits and educational institutions. They aim for this program to be adopted as an additional perk welcomed by numerous businesses, serving as a counterbalance during the recruitment process for new employees. This could make veteran staff members feel appreciated and esteemed within their workplaces instead of being compelled to leave, according to Stornaielo.
Even better for the two women, since they run their own businesses, they set their own schedules and can choose how much work to take on instead of reporting to managers who oversee organizations where they lack genuine ownership.
"At this stage of my life, I don’t feel the need for a traditional 9-to- five routine,” states Stornaiolo. However, “our concept of retirement isn't akin to our grandparents’ perspective. A transformation is underway regarding how we envision retirement.”
Ives and Stornaiolo have crafted the perfect blueprint for transitioning back into work after retirement. Engaging in activities they love, which stimulate their intellects and foster the acquisition of fresh abilities, meets both personal fulfillment and societal contribution goals.
“I’m not abandoning golf. However, we maintain a balanced life that truly satisfies,” states Ives. “It doesn’t seem like work at all. It’s enjoyable, plus we’re assisting others. There’s an underlying sense of purpose.”
What does your retirement budget look like? Pawonation.com is focused on detailing how Americans across various income brackets allocate their funds during retirement. If you wish to contribute your experience, please send an email to senior writer Alicia Adamczyk. alicia.adamczyk@Pawonation.com .
The tale was initially showcased on Pawonation.com
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