3 challenges of extending your career after retirement

To remain in the workforce, you can’t just keep up – you have to stay a step ahead.

by. Joanne Cleaver

The prospect of working past the traditional retirement age of 65 has become a post-recession cliché realized for millions of baby boomers.

Many of them hope to power down, the way Phyllis Snyder already is. After decades of designing educational programs for working adults, the vice president of the Council for Adult and Experiential Learning is transitioning to a consulting role that allows her more time to spend with her grandchildren, do volunteer work and continue her own learning through workshops and other endeavors.

Snyder’s downshift enables her to concentrate on one project in particular – helping America’s millennials gain college credit from the learning they accomplish through the military, Peace Corps and other nonprofit, mission-oriented programs.

About 40 percent of retirement account holders expect to keep working past the traditional retirement age, according to a survey conducted in January and sponsored by State Street Global Advisors. The survey included 980 401(k), 403(b), 457 and profit-sharing plan participants and retirees age 30 and older.

Experts cite three main factors that affect your ability to continue working: finding a new groove for continual professional development, calibrating your energy and abilities, and caregiving.

continue reading »