Caroline Mboijana, Managing Director, The Leadership Team (U).
I am a 50-year-old professional and I have been working since I was 19. As I come to the end of my working life, I am continually reminded that I am at a roadblock as to what I should do. I like to keep my mind alert, and I am told that is critical to avoid lapsing into depression. However, I am not sure what to do next.
Sheila
Dear Sheila, I am not a retirement expert, but I can share some thoughts, having worked with organisations that have had to manage their long-standing staff’s transition into retirement. At 50, you have another five years to go, and I assume you are in formal employment, so that is the perspective from which I am sharing my opinion. I hope you have put money aside in investments or a retirement fund, so money is not your primary focus. The focus is now on the work side, and at this stage, you may want to think through some options. Many organisations, even with an official retirement age, have options to retain a senior employee, especially if they are in a technical field that is core to the business and feel the employee can still add value. This is often on a short-term contract for two to three years, where there is a primary focus related to skill building.
These options are getting fewer and far between, given the need to open up organisations so they manage career growth and give younger employees an opportunity for promotion. Another option is to work with your current employer and consider if your services can be taken up as a service provider. You can then pre-qualify as a sole consultant and come in as needed to provide services to the organisation. In this scenario, your employer may even help you set up as a consultant. This may seem relatively straightforward, but unfortunately, it is not easy. As you retire, other options can keep you busy and engaged. Joining volunteer organisations is also an option, as you identify an organisation where your values are aligned and do some work with them. As the heading suggests, you will unlikely be paid, but it can keep your mind alert and engaged in doing a good job for the community. Joining Rotary is an option; it is engaging and fun at the same time.
Other options may include starting up a small business that is not too taxing. If you go down this route, it must be for something you enjoy and you do not mind the start demands that it would entail. This option would also open your mind to learning something new, including how to market a product, and in today’s world, it is all about digital marketing. Another option is to volunteer to work on boards or committees of your church. While this is an option, you need to be mindful that similar to succession planning mentioned above, Boards are also looking for younger professionals; however, your contribution is your wealth and depth of knowledge. These are just a few to consider, and if you spend some time reflecting on what you want, there is plenty that you can do to keep your mind alert and engaged in old age.
Caroline Mboijana, Managing Director, The Leadership Team (U) [email protected]
