Graduating into Retirement: Are You Ready?

My 97-year-old mom was sitting at the dining room table in her assisted living facility when she said, "Everyone should have at least two hobbies by the time they turn 70."

I knew exactly what she meant. Years ago, she co-managed a hotel with my father. When they "graduated" into retirement my mom became a full-time knitter, falling back on a favorite hobby she'd started in her teens. Hundreds of afghans and sweaters later, knitting was something that, until recently, kept her husy and gave her purpose well into retirement..

She also had crossword puzzles, walking, and reading. At 97 she's not able to do all the hobbies she had going when she retired, but she's still able to do some of them.

We think about financial retirement planning, but we don't talk too much about occupational retirement planning. What will you do with your time after you retire? Do you have a hobby or interest to give you purpose and keep you stimulated physically and mentally?

How Do I Handle Being Over-Qualified for My Job Objective on My Resume?

Many people are applying for jobs for which they are over-qualified. Some can't find work in their professions and are forced to look at lower-paying jobs to make ends meet. Others are easing into retirement and want jobs with less responsibility than what they held in their active careers. Still others are being forced out of retirement into whatever jobs they can find (not necessarily in their earlier professions) in order to support themselves.

So, how do you handle being over-qualified on a resume? Here are some tips: Continue reading...

Victim of Bernie Madoff Needs Resume Help

A victim of the Bernie Madoff scandal needs to return to the workforce, and he wants to know how to handle his failed retirement on his resume. Can anyone with experience in the world of Wall St. and financial services add to this advice for him?

Should I Mention Bernie Madoff on My Resume?

Eight years ago I retired early. I am re-entering the workforce because a major portion of my assets were invested with Bernie Madoff. Before I retired I was a CFO of a mid-size company. Should I include an introductory paragraph in my resume, or use the objective statement to explain why I am returning to the workforce? I fear that without such information, someone reading my resume will see the eight-year gap of real work and chuck my resume.

During the period 2002 to the present I did some minor consulting work and participated in some entrepreneurial activities. Nothing of real significance but certainly enough to state that I've been working as an Independent Accounting Professional and Consultant. Prior to retiring I worked as CFO/COO for mid-sized corporations in the managed care industry. My goal is to attain a similar position.

How do I let the reader know that my recent eight-year span was an intentional sabbatical from the corporate world -- not a period of unemployment because no one would hire me?

From the Desk of Susan Ireland
I see two parts to this situation:

1. How to present this unemployed period on your resume in such a way that it gets your foot in the door for an interview.

Don't mention Bernie Madoff at all on your resume. Your personal finances are your business, nobody else's. Simply refer to your Independent Professional Accountant experience for that time of retirement, perhaps citing a few specific projects or clients if they are noteworthy. Write confidently and unapologetically about your consulting so the prospective employer with view it as a valuable addition to your corporate experience.

2. How to talk about that time once you're in the interview.

If pressed for an explanation, say that you retired in 2002, and then became an Independent Professional Accountant as a way to supplement your income. As we all know, the economy has forced many people who were in full or partial retirement back into the workforce. Emphasize that you have valuable expertise and many good years ahead of you, which you'd like to offer to an employer.

More Advice from Maureen Nelson, Resume Writer
I agree with Susan completely. Don't mention Bernie Madoff. If they know about your involvement with Madoff, people might think you have poor judgment. On your resume, you could include quotes from your clients.

Are you doing any volunteer work? If so, add that. If not, start right away with SCORE or Taproot. No reason to sit around. Also, float your resume to headhunters who specialize in your area. (Check out Kennedy Information's Red Book for names and contact info.)

Readers, how do you advise this job seeker who needs to transition from retirement back into corporate leadership?

Wanted: Job Seeker with Life Skills

I decided to post the following from a Job Lounger, in hopes that it will be a good match for another Job Lounger.

I was reading The Job Lounge and noticed many people have emailed you about age discrimination. I work for a company called Home Sweet Home, we are currently based in Los Angeles and hoping to expand to Las Vegas, and we are looking to employ new staff. Home Sweet Home unpacks and organizes people's homes before they move in. We are searching for people with "life" skills and who know how to set-up a kitchen, organize a closet, etc.

If this type of work interests you, please email Home Sweet Home (info@unpackme.com). For more information please visit our website. We are looking for people in both Las Vegas and Greater Los Angeles.

Thanks,
Andrea Cardno
Home Sweet Home

If you are a small business owner and want to post a job opening, email it to me. Maybe we can do a little match-making here in the lounge.

Not Addicted to Full-time Work

Question
I am getting ready to retire next year from addiction counseling in New York City. I would like to work flexible hours to supplement my income maybe outside of the field. What should I be doing now to prepare for next year and my new life?

Answer
by Steve Roesler, CEO, Steve Roesler Group

Let’s start with next year.

From a purely practical viewpoint, do take time now to complete the administrative parts of the retirement process: completing forms for pension, social security, and Medicare (if applicable). You’ll want to be sure that the checks begin arriving when your employment ends.

Your profession has given you a broad range of skills, not just in counseling but in administration. (Think intake and the related documentation processes).

1. Does the image of teaching captivate you? With your experience, you have the tools to educate others. There are colleges of all types in New York City, including Metropolitan College of New York, that offer certification programs for those wanting to become addiction counselors. Teaching in one of these schools might fulfill your desire for part-time work and give you some ongoing professional contact without the emotional demands of face-to-face counseling.

2. If the administrative part of your job was satisfying, most clinics look for staffers on a part-time basis. You probably have access to the list of clinics in New York City.

3. You mentioned the possibility of looking outside of your field. My experience has been that after many years in a profession, we sometimes lose track of all the possibilities that have cropped up out there while we’ve been working! Take a little time to go online and explore the opportunities and resources at RetirementJobs.com and the Senior Living section of about.com. These may stimulate your thinking and help you work through important questions related to your desired part-time situation.

Best wishes for a wonderful second half of life!

Making Ends Meet in a Tight Job Market

Question
My husband, age 59, lost his job 6 months ago and seems to have exhausted the job market here (a small western city), trying to find any work, let alone work that uses his skills, abilities and experience (he has a masters degree and some work toward a doctorate, is an experienced adjunct university teacher and published writer).

I've had the same management-level job for 15 years at a small non-profit agency (I'm 52). The pay is not great, but the job provides health insurance and retirement -- for me. But my job doesn’t pay quite enough to meet our monthly bills, even though we live very frugally. We'd have to move to a small apartment to live within my income, unless I could find a better paying job here, which, when I've looked, hasn't been that promising with the skills I have.

We are debt-free, own our cars. We have no children or elderly relatives to support. We have savings of about $35,000, which we are now starting to tap into for monthly living expenses.

Question: Keeping our ages in mind, do we give up my steady income and move to a larger city, which would hopefully have better job opportunities for us? Risk that we could find decent jobs with benefits before the $35,000 runs out? Or do we stay here, downgrade our housing, and hope one or both of us can eventually find something better?

Thanks for the input.
MZ

Answer
by Richard Yadon, CPC, President/CEO, Health Career Professionals

There isn't a simple answer to your question. It has as much to do with your personal preference and preferred lifestyle as it does with employment. Only you can answer this question, but let me give you some personal perspective that might help you reach a conclusion.

I would avoid tapping into your savings. You've done a great job by staying out of debt and living on a budget. Whatever you should decide to do, be sure you stay out of debt, preserve your savings, and live within your means. You might want to check into attending a Financial Peace course near your home. This will give you more financial planning tools, ideas, and resources. You can go to daveramsey.com for more financial advice and locations of the course.

As for employment you seem to only have two choices – stay and hope something turns up or move to where you can be hired. Unless your skills and industry experience are very specialized, it is unlikely that the job market for you will change drastically in the short-term. That means if you are having trouble finding work now, you will continue to have a hard time in the near future.

Checking Monster or Career Builder for jobs that match your skill and experience will help you determine where people like you are finding work. You might also talk with a recruiter that places people with your backgrounds. The recruiter can give you insight into your employment possibilities.

Richard Yadon is President/CEO of Health Career Professionals, an executive search and employee development company focused in the healthcare industry.

Susan Ireland’s Two Cents
Your husband might find some consulting or employment ideas through his university career center, through his trade publications, online newsletters, or relevant websites. Perhaps he can work from home, writing for a publication or website that specializes in his field. Or, if he’s even a little web savvy, he could start his own website or blog, and learn how to use online advertising (like Google Adsense) to earn a little extra income.

Job Lounger, do you have a question? Email it to me and I’ll post your question and an expert’s answer here in The Job Lounge.

Coming Out of Retirement

Question
I have been retired for two years and wish to return to work. How should I account for two missing years on my resume without it becoming an issue?
Thank you
--Ed

Answer
by Catherine Sutton, Professional Resume Writer

Hi Ed,
Many people become busier than ever after they retire, and the key is to think creatively about what you’ve been doing and how it may be relevant to your new goal.

The most important thing to remember about a resume is that you want the reader to have a positive reaction to everything in (at least) the first half of the first page. So if you’ve been doing something which is barely or not at all connected with what you intend to pursue next, it’s probable that the functional resume format would work best for you.

The functional resume has a section called “Relevant Achievements” (preceding the chronological “History”), where you describe compelling achievements that portray you at your best, relevant to your desired new position. These achievements can be taken from anywhere in your paid and unpaid history.

In the “History” section that follows in the functional resume format, where you simply list your titles and places of work in reverse chronological order, include the two most recent years and describe in a few words what you’ve been up to. At this point, because it’s farther down on the resume, the reader will have already read all the great reasons you’d be good at the job, and those two years will seem less important. For ideas on how to describe what you’ve been doing during your employment gap, check out Disguising Employment Gaps by Susan Ireland.

However, if you’ve been working as a consultant on and off since you retired, or have been otherwise occupied in a way that you could describe as relevant to your job objective, use the chronological format. At the top of your work history, make an entry for those two years that says you’ve been a consultant (or whatever) in your field.

I hope this is helpful. And I wish you the very best in your job search.

Catherine Sutton has been a professional resume writer on Susan Ireland's team since 2002. She works with job seekers from all levels of employment in person or by phone and email.

Susan Ireland’s Two Cents
In addition to Catherine's excellent advice above, take a peek at Return to Work with a Winning Resume by Kim Isaacs.

In particular, I like her thoughts on cover letters:

Put Your Cover Letter to Work: Use your cover letter to explain why you temporarily stepped away from your career, emphasizing that you’re now available and excited about pursuing employment. Let your enthusiasm for reentering the workforce shine through your letter.

Job Lounger, do you have a question? Email (joblounge@aol.com) it to me and I’ll post your question and an expert’s answer here in The Job Lounge.