The Unretirement Trend

Our readers have reported that they and many of their friends have decided to exit retirement and go back to work. The reasons they give are varied. Some found out that the money they thought they had to live on wasn't enough to maintain their lifestyle. Others have been feeling the effects of inflation which is approaching double digits. The concern that it will get worse has propelled them to dust of their resumes and start looking. Some are going back to the familiar work they always did and others want a new challenge. They want to try working at something they never did before.  The job market needs workers so opportunities are plentiful for both.

Adult children moving back home with their parents has also created the need for additional income. In some cases they come with grandchildren.  As one retiree put it, "I planned diligently for our retirement. Everything was in place. We had enough to last us for a very long time.  I never planned on my daughter getting divorced and moving back home. Now she lives with us and so do our two grandchildren.  I thought college tuition bills were behind me. I need to go back to work so I can educate those kids."

There is another group of retirees that focused so much of their time on work, they never made time to develop an interest or delve into a hobby.  While it's never too late to start, many people are impatient. They would rather go back to work than spend the time test marketing a new hobby.  

Whatever the reason unretirement is a new and growing trend. So if you are thinking about it, you are definitely not alone.

The Importance of Saying NO

Recently Elizabeth Bernstein wrote an article featured in the Wall Street Journal on the importance of being able to say NO to the demands and pleas of others.  The article Elizabeth wrote should be mandatory reading for everyone. Her premise is that people often say yes to things when it is to their detriment. Haven't we all from time to time said yes to some request that we regret?  

We often are asked by our readers how they can gracefully decline a request.  Many are already retired so the request is often made on the basis of "you're retired, you have the time."  That may be true, but our time is our own.  It is a valuable asset that once lost cannot be regained. Prioritizing how we spend our time is the only way to make sure we are using time to our own benefit and to causes we really believe in.

Sometimes the priority is to give time away to a person or organization we believe in and want to help. That is using time wisely and falls into the "time well spent" category.  But saying "yes" to something because we are afraid to turn the person or organization down is a self-inflicted injury.  Fear that they won't like us anymore or be angry because we rejected their request is not a good reason to say YES.    

Learning to say NO is as important as saying YES. Her article contains a great line that in effect says that "NO is a complete sentence."  Remember that the next time you are asked for something that you really don't want to or can't do.