What Do Americans Do After They Retire?

The Pew Research Center conducted a survey comparing what younger Americans expected older adulthood to look like, versus the reality experienced by those 65+. The Pew data shows that retirement may not always match our expectations, and it reinforces the lesson that you need to be realistic when crafting your retirement plan.  For example, 39% of respondents expected that they would have a second career, but that was the case for only 14% of those over 65.

And it’s not just a matter of being realistic with your plan.  You have to take an active role in making it happen.  80% of the younger Pew survey respondents expected that they would be engaged in volunteer work, yet only 52% of those over age 65 were so occupied.  One reason why people don’t volunteer as much as they expect to is that they don’t discover (or create) opportunities that are a good fit.  Another reason is that they don’t take the time to discern what they’re genuinely interested in doing.

How can you make meaningful, satisfying choices about how to occupy your time in retirement?  We all know of people who had to “re-retire” because their initial plan to play golf or spend time with their grandchildren proved to be insufficient.  Planning your next chapter in life takes time, thought, and a keen sense of which endeavors will resonate most closely with your true self.

In my role as a pre-retirement consultant there are some publicly available tools that I recommend.  One is called the Self Directed Search (http://www.self-directed-search.com/What-is-it).  The SDS can be used to find second careers and fields of study that match your personality.  The SDS also includes a Leisure Activities Finder, which sorts through over 800 activities to find ones that would potentially be a good fit for you.     

Another tool is the Life Values Inventory (http://www.lifevaluesinventory.org/).  This online assessment was developed to help people who are making critical life decisions.  By clarifying your values, you will be in a better position to make the many choices you’ll face as you contemplate retirement.

No inventory or assessment instrument can think for itself.  Although the SDS and the LVI are well-crafted tools, you would be well served to discuss the results with a trusted advisor who can help you place the findings into the context of your overall retirement plan.

The Pew Research Center report is available at: