{"id":135060,"date":"2023-11-03T19:19:07","date_gmt":"2023-11-03T19:19:07","guid":{"rendered":"https:\/\/finbestnews.com\/?p=135060"},"modified":"2023-11-03T19:19:07","modified_gmt":"2023-11-03T19:19:07","slug":"more-joy-less-stress-why-you-should-rethink-your-work-before-you-retire","status":"publish","type":"post","link":"https:\/\/finbestnews.com\/economy\/more-joy-less-stress-why-you-should-rethink-your-work-before-you-retire\/","title":{"rendered":"More joy, less stress: Why you should rethink your work before you retire"},"content":{"rendered":"

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In the grand narrative of work and workforce choices, it\u2019s often the young and ambitious who are credited with driving change. For decades, they have spearheaded revolutions in the way we work, challenging traditional structures and seeking more flexibility in their careers.<\/p>\n

But, there\u2019s a quieter, yet equally profound, revolution under way, led by the Baby Boomers and Generation X \u2013 or the Prime Timers as I call us \u2013 who can now glimpse retirement on the horizon and want the best of both worlds sooner.<\/p>\n

This revolution has gained momentum in the post-pandemic workforce shortage, and it\u2019s all about shifting from high-pressure career work to work that aligns with your lifestyle and flexibility goals. We could aptly call it the \u201clife-flex movement\u201d.<\/p>\n

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The quiet revolution is being led by those who want the best of both worlds sooner.<\/span>Credit: <\/span>Dominic Lorrimer<\/cite><\/p>\n

The life-flex movement marks a pivotal moment in the lives of those closing in on the end of their formal careers. It\u2019s when people start to reassess the role of work in their lives and explore different ways to get the most out of it.<\/p>\n

While the younger generations have been at the forefront of the gig economy, remote work, quiet quitting and work-life balance discussions, it\u2019s our older generations who are now embracing the concept of more flexible work to support their desired lifestyles.<\/p>\n

And it\u2019s a conversation for both those in pre-retirement and post-retirement years. Because retirement doesn\u2019t mean completely giving up work any more. It means knowing more about your choices.<\/p>\n

It has become obvious that the traditional work model is no longer sustainable or fulfilling for a significant portion of the workforce.<\/p>\n

A report released this week by Amazon, Lonergan Research and demographer Bernard Salt got me excited. It provided real data on the shift I have observed occurring in pre-retirees, pointing out that the way we work has fundamentally changed for Australians across all demographics, but especially for those aged 55 to 69 years.<\/p>\n

\u201cThe old model of 50-somethings continuing to work at a job that \u2018takes\u2019 more than it \u2018gives\u2019 after waving goodbye to the kids as they leave the family home has been reimagined. Workers over 55 are seeking out additional income, social engagement, improved workplace camaraderie and maybe even \u2018meaning\u2019 in their later working years,\u201d the report said.<\/p>\n

For many people, the need to keep earning money is still there throughout this phase, right up to the pension age of 67, especially in the generation approaching retirement. And beyond that, many still need work to supplement their pensions.<\/p>\n

For those in pre-retirement now, most people know their superannuation is only going to be just enough, or not quite enough to fund a comfortable retirement from 67 to their life expectancy of 85-88 or longer.<\/p>\n

But, the events of the past few years have driven an attitude change. The post-pandemic world has brought into sharp focus the fragility of life, urging many to rethink their priorities.<\/p>\n

The workforce shortage, ageism and the desire to live better, and longer, have made it more obvious that the traditional work model is no longer sustainable or fulfilling for a significant portion of the workforce.<\/p>\n

And for the new generations of pre-retirees, the new concept of retirement isn\u2019t a simple binary choice between work and leisure. Instead, we are embracing the idea of more flexible and rewarding work during pre-retirement and incorporating work into our picture in our post-retirement years.<\/p>\n

This movement isn\u2019t about working until the last possible moment but rather at some point after midlife, actively choosing work that aligns with personal interests and allows for a more relaxed, flexible, and enjoyable lifestyle.<\/p>\n

The life-flex movement places a premium on quality over quantity. It encourages people to prioritise pursuits that bring them fulfilment and joy while still contributing to society and the economy. It\u2019s about striking a harmonious balance between leisure, family, hobbies, and meaningful work.<\/p>\n

In this era, post-retirement work becomes an opportunity for personal growth, exploration, and the pursuit of passions that may have been neglected during the demands of full-time careers. Whether it\u2019s starting a small business, freelancing, consulting, or taking on part-time roles, the emphasis is on choice, autonomy, and a sense of purpose.<\/p>\n

If you find yourself looking into your future and longing for more life-flex, where do you start?<\/p>\n

Understand how much you need to earn versus what you earn today. <\/b>That means some good old-fashioned budgeting for most people. Understand how much you need to retire and how much you need to live on from working in the years before and after retirement. Build your financial confidence so you can<\/i> make choices.<\/p>\n

Contemplate your skills and talents. <\/b>Look within to the skills and talents you really enjoy using. Think about the things you do that really put you \u201cin the zone\u201d and explore how you could transform your work to more flexible roles that use those skills and give you balance.<\/p>\n

Understand where you find meaning and purpose. <\/b>Your choice of workplace matters. Some people need a deeper sense of purpose and meaning in the second half of life while others want a vibrant amount of camaraderie and teamwork. Think about the type of company and team culture that you want to work in.<\/p>\n

Contemplate more flexible work types. <\/b>You might only know conventional work types, but that doesn\u2019t mean you shouldn\u2019t contemplate the gig economy or working in delivery, rideshare or ecommerce; freelancing, using your hard-earned skills on a more flexible basis; and working in our care economy which is desperate for and loves more mature workers.<\/p>\n

Bec Wilson is the author of the bestselling book<\/i><\/b> How to Have an Epic Retirement<\/i><\/b> and host of the new podcast<\/i><\/b> Prime Time with Bec Wilson<\/i><\/b>. She writes a weekly newsletter at<\/i><\/b> epicretirement.net<\/i><\/b>.<\/i><\/b><\/p>\n