Finding Fulfillment In Retirement By Paying It Forward

Giving back, especially during the holiday season, provides opportunities to help our communities and support the causes closest to our hearts. Whether through contributions of time or money, giving back can also bring a sense of fulfillment and purpose, help bridge generation gaps, and prevent senior isolation and depression.

“Donating time and money is of course a great way to make a positive impact, but it’s also an avenue to meet people, learn new skills, and connect with your community and the world around you,” says Marci Alboher, one of the nation’s leading authorities on career issues and workplace trends. She is a thought leader on second acts also known as “encores” where purpose-driven individuals can find fulfillment. That counsel is invaluable across generations, especially for those approaching retirement to understand the role volunteering can play in their lives.

Adjust to Life Without a Job Title

If you’re feeling unmoored without a job title, know that you’re in good company: many people are in transition these days, with millions of Americans leaving their jobs during the pandemic. In addition to those taking stock of new opportunities, many younger people move more freely between jobs, gigs and roles that fulfill their personal passions and interests. In fact, Alboher has coined a term for those who can’t check a box when asked, what do you do?

“Slashies refers to people who pursue multiple interests and income streams in search of a fulfilling life,” said Alboher. “Retirement gives us all the opportunity to become slashies, and pursue multiple opportunities to give us purpose, whether it be volunteering, charitable giving, or a new job.”

Retirement Can Be Your Encore

Retirement can be an opportunity to try a different or part-time job by leveraging your current skills or learning and using new ones. It also provides ample time to volunteer with an organization you’ve always wanted to be involved with.

If you’re interested in finding volunteer opportunities, check out online resources designed to help retirees such as AARP’s volunteering search engine – Create the Good.

The best part of retirement is that you don’t have to limit yourself: you can try anything you want in the pursuit of a new purpose.

Tracking Your Generosity

If you’d prefer to make a financial contribution to a cause you care about, first identify which issues you feel passionately about and then look for reputable organizations who work in these areas or with towards these causes. Before writing a check, speak with a financial professional to ensure you can afford to donate while still staying on track in retirement, and to optimize any potential tax benefits that come from these contributions.

Alliance for Lifetime Income is an Official Personal Finance Partner of Growing Bolder

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