Retire old-fashioned retirement and do not hang up your spurs

By Wu Jiayin  |   2008-7-5  |     NEWSPAPER EDITION

A LOT of people are afraid of retirement since they regard themselves as defined by their jobs and fear they may lose their identity when they no longer work.

If so, one alternative is to remain in the workforce after retirement age.

Nowadays, there is little need for many people to worry about losing their jobs as they age, as Tarama Erickson writes in her book "Retire Retirement."

"Over the next several decades the growth in demand for workers in most industrial countries will almost certainly outstrip the growth rate in workers within the conventional age band," she noted.

That is to say, as long as one has the skills or experience that companies require today, the chances of remaining employed into their 60s, 70s or above are high.

Sometimes old age is even an advantage in getting a job.

An example from Denmark is illustrative: Danish retailer Netto set up three "oldie" supermarkets where at least half the staff was over 50, and found absenteeism went down and customer satisfaction went up.

In Japan, most staff who collect expressway tolls are middle-aged men or above, some even white-haired.

They're not just employed for their work ethic, but more important, they are usually the father or grandfather in a family who no longer needs to worry about the birth of an unhealthy child. Male and female toll takers both inhale toxic fumes. This is especially harmful to women of childbearing age.

Given this reality - there is work out there - the key question is how to develop a plan to help those approaching retirement stay contentedly employed in the next 30 years or so. That's the value of the book.

As people today have many more exciting life choices after retirement than previous generations, Erickson suggests you start with a systematic method for sorting this abundance of options and setting your personal priorities.