Marilee Krogel

Second Act Successes

Whether it's to maintain mental sharpness, keep healthy social connections, or bulk up the nest egg, many people are opting not to retire at the traditional age of 65.

Yet not all are sticking with the corporate grind. Instead, they're making later-in-life career switches to the entrepreneurial life.

Honoring innovation

Nearly two in three people (64 percent) see the next stage of life as a time to keep working, with nearly equal numbers saying it’s a time to use their skills and experiences to help others in paid or volunteer positions (31 percent) versus a time to simply cover expenses and maintain health insurance (33 percent). That's according to research (www.encore.org/files/2011ResearchHighlights.pdf) conducted by Civic Ventures, a San Francisco, Calif.-based think tank focused on baby boomers, work, and social purpose.

Most interesting are those who create their own jobs by launching ventures aimed at solving social problems in their communities and elsewhere. Each year for the last six years,  Civic Ventures has recognized such entrepreneurs with its Purpose Prize^® .

The prize honors those over the age of 60 who have found a way to marry their passions and interests with social good.  One aim is to illustrate that innovation isn't the "sole province of the young."

In November, Civic Ventures named its five 2011 winners. Prize winners gain recognition and each receives $100,000.

Solutions to pressing social problems 

If you've been thinking about what to do with the second half of your career life, take some inspiration from some of those winners. They spotted needs and figured out how to address them.

Their ventures are extremely varied and include a woman who found a way to deliver an array of services, such as infant care and preschool programs, to Chinese orphans.

Another helps people seeking second careers by developing training, mentoring, and internships for people over the age of 50.

 Still another is focused on lowering the environmental impact of buildings.

Re-tooling

Freedman also wrote The Big Shift: Navigating the New Stage Beyond Midlife, a book that discusses encore careers and the vast contributions that those who are in the second stage of life can make.

Inspired?

The Civic Ventures site, www.Encore.org, offers tremendous insight for blooming entrepreneurs. For details and guides from Civic Ventures, along with a host of other career-related advice, see "Resources" below.

Resources:

Emerging career fields--Civic Ventures identifies the top five encore career fields (www.encore.org/work/top5), along with information on potential jobs in the field, the training needed, and ways to prepare for a new career. Those top fields are:

1. Education
2. Health care
3. Environment
4. Government
5. Nonprofit