Yahoo Finance Time for Act 2: Steps to Find Your Ideal Encore Career
Even the most well-established careers can come to an end. That was the experience of Carol Lavin Bernick, who was an executive at Alberto Culver, a company her father founded in 1955 that manufactured beauty brands such as VO5, Nexxus and St. Ives.
"One day I was working for a corporation I loved for 37 years and then suddenly, I was out of a job," Lavin Bernick says. The change came when Unilever acquired Alberto Culver in 2011. While Lavin Bernick, now 67, could have taken an early retirement at that point, she wasn't ready to leave the workforce.
Instead, the former executive launched the investment firm Polished Nickel Capital Management, wrote the book "Gather As You Go: Sharing Lessons Learned Along the Way" and now sits on the board of directors for several nonprofits. "I come from a family where no one ever retires," she says, noting her father was active in business almost right until his death at age 97.
Regardless of your background or circumstances, you too can change your line of work.
[See: 15 In-Demand Jobs for Seniors.]
Here's how to find your ideal encore career:
-- Decide whether to work for passion or profit.
-- Create an inventory of skills.
-- Research your new career options.
-- Network both online and in person.
-- Embrace your age as an asset.
"A lot of people think they are too old to change careers," says Becca Shelton, assistant director of career services at the University of Richmond. However, from her experience, that's rarely the case. Read on for more information and advice on embarking on a career pivot.
How to Find Your Ideal Encore Career
Decide whether to work for passion or profit. Before beginning a second career, you have to understand your motivation, says Penny Shuff, co-founder of Second Act, a company providing recruitment and job placement services for older workers in West Michigan.
Someone who wants or needs to make substantial income may approach their career change by exploring in-demand careers in their area. Meanwhile, those motivated to do work they love may find nonprofits to be a good place to start their job search.
"See this as a chance for self-discovery," Shuff says. She encourages her clients to pull out a journal and write down their thoughts on how they'd like the next chapter of their lives to unfold.
Create an inventory of skills. It may be possible to shift into an entirely new sector, but it'll be easier to launch a second career if you build off your previous experience. Fortunately, many skills are transferable between industries.
"(Workers) have to do a deep dive of every single work experience they've ever had," Shuff says. That will allow them to not only identify what job skills they possess, but also what tasks they find most enjoyable. Both pieces of information can be helpful in identifying a viable second career.
To pinpoint skills you may otherwise overlook, consider gathering insight from friends and former colleagues. Meeting with a career coach can also be helpful. "People don't give themselves enough credit," Shelton says. A third party can provide objective feedback.
[See: 19 Part-Time Retirement Jobs That Pay Well.]
Research your new career options. Once your potential career options have been identified, it's time to explore what those positions actually entail. When it comes to picking a new career, "A lot of people I talk with go on a gut feeling," Shelton says. She doesn't think people need to ignore those feelings, but they also need to be realistic about whether they can pursue the career and if the reality of the job fits the new role they envision.
"People have to decide how much of their life they want to give to act two," Lavin Bernick says. Workers who want to be semi-retired may have to cross time-consuming opportunities, such as launching a small business, off their list of options.
Though many skills are transferable, you may still need to complete some additional education or earn certifications for some jobs, such as those in education or medicine. Talk to others in the industry to understand what is required to be successful.
Network both online and in person. Personal connections can go a long way in helping secure a job for an experienced worker trying to break into a new field. LinkedIn profiles and social media connections are useful, but don't overlook older networking tactics.
Sending warm letters to old contacts or inviting friends and colleagues to lunch to ask for advice and assistance are effective ways to be referred to others who can help open doors to a dream job. "The smartest people I know ask for help," Lavin Bernick says.
Don't neglect talking to your adult children either, Shuff advises. Children who have a successful career may have their own robust network of contacts that could prove to be a valuable resource for a career change.
Embrace your age as an asset. Older workers may be tempted to leave dates off their resume to hide their age, but Shuff says this is a mistake. "Age is an asset, not a liability," she explains. What's more, a person's age will be revealed eventually so it's best to frame it as a positive attribute rather than something to be hidden.
Those nearing retirement age often don't have children at home so they have fewer distractions to keep them from work. They also bring to the workplace a wisdom that can only be gained with experience. At a time when many companies bemoan the attitudes of younger workers, those of the older generation were often instilled with a strong work ethic early on. For these reasons, Shuff says smart employers seek out older workers, and those seeking an encore career should stress the benefits their age brings to a position.
[See: 10 Tips for Working in Retirement.]
Not everyone wants to work into retirement age, but Lavin Bernick says she relishes the challenge of a new career. "I want to be relevant when I'm 92," she says. There are many ways to do that, but for some older workers, a second act may be the perfect way to stay sharp for years to come.
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