Lately, I’ve noticed quite a few articles and conversations about retirement, and while they don’t apply to me anymore—since I retired for the third (and hopefully last) time several years ago—they’ve made me reflect on how much the concept of retirement has changed. Most people I talk to approach retirement in the traditional sense: you work until you’re about 60 or 65 and then you stop working altogether. But the reality today is that people in their 60s and even 70s are healthier, more active, and far more engaged than they were 20 or 30 years ago. They’re not content with the idea of sitting around doing nothing.
Take my friends as examples. Some of them have taken up interesting hobbies like restoring classic cars, while others are staying busy serving on boards or volunteering. A few are even very active in golf, playing four or five days a week. And then there are the travel enthusiasts, who take long trips—sometimes for several weeks or even months at a time. Retirement for these folks is much more than just putting your feet up. So, what is retirement today? The definition is changing, that’s for sure.
One thing I’m not going to cover here is the financial side of retirement—there’s plenty of material out there for that. Instead, I want to focus on what people are doing with their lives in retirement or semi-retirement and explore some of the alternatives. And, interestingly, younger generations are redefining what retirement can be.
It seems like every other day I see another report questioning whether retiring is really the best choice for mental, physical, or financial health. And there’s some truth to that. Of course, everyone’s situation is different, and retirement isn’t a one-size-fits-all kind of thing. The job you had, the amount you saved, and your personal goals all play into what’s right for you. But there are also plenty of good reasons to rethink traditional retirement and consider options that keep you engaged, active, and fulfilled.
Semi-Retirement: The Best of Both Worlds
Semi-retirement is becoming more popular, especially for those who still enjoy working but want more freedom. This is actually the route I took the first time I retired. I was offered the opportunity to move to part-time while still doing the job I loved, which gave me the flexibility I craved. Eventually, a couple of years later, I was able to work remotely from home. It was the perfect balance for me—still working but with the ability to adjust my lifestyle.
Ten years later, I finally retired fully. But I can say, without a doubt, that easing into retirement like this made all the difference. Semi-retirement offers the chance to keep doing meaningful work while also having more time to enjoy life.
Taking a Sabbatical: Recharge and Rediscover
A sabbatical is another option that’s gaining traction, and it’s a great middle ground for people who aren’t ready to fully retire but need a break from the daily grind. I have a friend who took a year off in his early thirties to travel across Europe. He said it was one of the best decisions of his career, and he even did it again ten years later! This option isn’t just for professors anymore—more people, even in their prime working years, are looking at sabbaticals as a way to recharge and re-engage with their passions.
Sabbaticals allow you to explore new interests or revisit old ones, and sometimes, they give you the time to pick up new skills or start a small project. Planning how you use this time is crucial to making it rewarding. When my friend returned to work after his year-long adventure, he felt refreshed and reinvigorated. He told me it wasn’t just time off—it was an opportunity for transformation.
Switching Companies for a Fresh Start
Some people aren’t ready to retire but need a change in their work environment. If that sounds like you, consider switching companies as an alternative to full retirement. Moving from a large company to a smaller firm, or vice versa, can provide a fresh start while still utilizing your skills. Sometimes, a simple change of scenery or a different team can make all the difference in how you feel about work. You get the best of both worlds—a fresh start with new challenges, but with the benefit of maintaining a steady income.
Entrepreneurship: Turning Skills into a Business
Starting a business is another exciting option, and it’s one I explored myself. While I was semi-retired, I decided to learn about online business and marketing, and eventually, I started an online retail business. I ran it for nearly ten years before retiring again. Entrepreneurship allows you to take control of your work life and pursue something you’re passionate about. Whether it’s consulting, training, or starting a whole new venture, this path can be incredibly rewarding.
Sure, starting a business later in life can seem daunting, but it’s also a chance to take your career in a completely new direction. In my case, it gave me the opportunity to learn new skills and challenge myself in ways I hadn’t expected. Entrepreneurship isn’t just about making money—it’s about finding fulfillment in doing something you love.
Volunteering: Making a Difference
Many retirees find fulfillment through volunteering. And there are so many ways to give back, from working with local organizations to serving in more advisory roles that leverage your professional expertise. Volunteering lets you stay connected and engaged without the pressures of a traditional job. A few of my friends have taken this route, using their skills to help nonprofits or serve on boards. It’s a great way to keep active and feel like you’re making a difference.
Hobby Work: Turning Passion into Purpose
For some, retirement is the perfect time to dive into a hobby they love. Whether it’s woodworking, restoring cars, or even starting a blog (like I did!), turning a hobby into something more gives you a sense of purpose without the financial pressure. Several of my friends have turned their love of cars into full-blown projects, joining rallies and meeting new people along the way. Another friend became a master woodworker and now builds custom furniture. The key here is that it’s not about making money—it’s about doing something you enjoy and sharing it with others.
The Takeaway: Flexibility is Key
The most important thing to remember about retirement today is that it’s no longer a one-size-fits-all process. Whether you’re thinking about semi-retirement, taking a sabbatical, or starting a business, the key is finding what works for you. Staying engaged—mentally, physically, and socially—is what truly defines retirement in this new era. It’s not just about financial security anymore; it’s about creating a life that’s fulfilling and meaningful on your own terms.
