Allstate Blog: You’ve been writing about the workplace for years—when did the idea of an “encore career” hit your radar? Alboher: Back in 2007, I interviewed Marc Freedman who coined the phrase “encore careers” and wrote about it for one of my New York Times’ columns. I became intrigued about the idea of a new stage of work sitting where retirement used to sit, and the idea of taking what had traditionally been seen as the leftover years and, instead, fashioning them into something with great meaning. AB: Boomers are now entering this stage, but isn't there a great debate over what that’s going to mean for society? A: The wave of aging baby boomers is often portrayed as a big problem, as if the great grey wave of retirees will bleed the Social Security coffers. Instead, why not look at this as a windfall of talent available to solve big social problems. Encore careers can provide a triple win by affording people a way to make a difference in the world and in their own lives, and make a living too. AB: How big is the encore career movement? A: Our latest research shows that 9 million people are currently doing work we define as an encore career: a second act with a contribution to greater good. And 31 million more are interested. AB: Is this a boomer-specific trend? A: Boomers might be the first generation to really think about the idea of 20 bonus years packed on to life. But boomers are just the first to enter this stage. The encore pioneers are reminiscent of the early wave of women who broke barriers in the workplace. And like those pioneers, future generations may not think there’s anything unusual about people embarking on ambitious second and third acts, or having a job after retirement. AB: So, who is the typical candidate for an encore career? A: There’s no one-size-fits-all. Some people hit an “is this all there is moment” and they’re ripe for reinvention. Others are spurred to action after a layoff, or some other significant life event. I’ve also talked to countless women, who started careers and then interrupted them for a period of full-on parenting. By the time those women re-enter the workplace in their fifties, they often feel as if they are beginning their careers from scratch. They’re perfect candidates for encore careers. AB: Where are the most likely job prospects?

Boomers might be the first generation to really think about the idea of 20 bonus years packed on to life.

A: Most encore opportunities seem to fall into five categories: education, healthcare, the environment, government and the nonprofit world. If you’re looking at where the most hiring will be, definitely consider healthcare. Nurses, physician assistants, and all kinds of medical support positions are projected to be in demand for the foreseeable future. There are also a variety of newer healthcare roles and many of them—like wellness coaches and health care navigators—don’t even require a medical background. Many people are also drawn to working with young people in their encore years – either as teachers or in other roles in schools. Teachers in special education, math and science are in particular demand. As lifelong learning becomes more prevalent, that will create more jobs. AB: What about the idea of age bias? Does it still exist? A: Certainly. And the best remedy is to be current in your field. Age bias tends to come up a lot less when you have the proper credentials and training for a role. If you don’t have the background needed, consider taking classes or volunteering to  pick up what you need. The flipside of age bias is that there are some areas where older people have an advantage. So, look for opportunities where life experience and collective wisdom are appreciated—coaching and mentoring are attractive to people in this life stage. And this is why healthcare is frequently such a good fit. AB: How simple is the transition into this new stage of work? A: It’s not easy. It takes a lot of time. Our research shows that the average transition, where people are often not earning an income, is 18 months. AB: What’s the best way to start preparing for an encore career? A: My number one tip: plan as far ahead as you can! What can you be doing now to set yourself up? Put money aside for the time when you’re working on retooling (whether it’s going back to school, retraining, or just taking time to transition). You also want to do some work that’s internal, to find out what you want to do in this next stage. It may be a long time since they’ve checked in with yourself, and you may find that what you want now is quite different than what you wanted the last time you asked yourself that question. But a word of caution: You can take self assessments and do “What Color is Your Parachute” and all that, but, ultimately, you need to get out of your head and into the world. Go to events, network in new communities, and volunteer in areas that speak to you. It’s the best way to narrow things down, cross things off your list and hone ideas. Photo credit: Marcia Ciriello.

Allstate Blog: What’s an example of that? Richards: The classic one is that we buy high and sell low. In 2006, did you become a real estate investor, like so many of us did? In ’08 did you swear off equities forever? And, now, are you feeling, like ‘Hey maybe I should be buying back in the stock market?’ We sell when everyone else is scared and buy when everyone feels great. And we just keep doing that. AB: What’s a good way to resolve that? R: We have to realize money is emotional. Let’s stop expecting it to be like a math problem, like it should be 2 + 2 = 4. It’s not. [Money] represents our biggest goals and dreams. We also don’t talk about money enough. How many late-night arguments have you gotten in over the credit card statement? Instead of [arguing about the money spent], let’s talk about why you spent this money. AB: So, where should a money talk begin? R: Start with your current [financial] reality. Get really clear about [it]. I used to think that was easy, but the more I talk to people the more I realize people don’t know where they stand. So, build a personal balance sheet. And if you don’t know what that is, do not be embarrassed—nobody else does either. Use Google. AB: What next? R: Start to put a framework around where you want to go. But don’t get too tied up in that. People get so nervous, like, ‘Where am I going to be 30 years from now? I have no idea!’ That’s fine. Where do you think you “might” want to be? The process of getting clear about where you are today, and having those discussions of where you want to go, will lead you. AB: One of the really interesting things you talk about in your book is the idea of personal responsibility. You’re a rare voice in that. R: We all make [financial] mistakes, but we have a choice. We can sit around and blame Wall Street, the big bad banks, credit card companies, a family member, business partner, spouse … but as long as we stay in that game—of just finding someone else to blame—nothing will change. AB: Why do you think people respond that way? R: We’re making very important decisions under an extreme degree of uncertainty, and it leads to a feeling of lack of control. I don’t know if there’s anything scarier to humans than lack of control. Instead, it really helps to focus only on the things you can control. AB: Like what? R: Like, how the amount of money you save will have a far more dramatic impact on your financial future than the rate of return you earn. We spend so much time searching for the best investment, or trying to get the highest return, instead of figuring out how to save a little bit more (or maybe how to make a little more; there are two sides to that). So, focus on what you can control—how much to save, what your expenses are, what the tax consequences of your decisions are, etc. AB: And then? R: And then realize that, when it comes to investing, this really is a long-term game. Everyone says ‘invest in a diversified index fund, it’s a long-term investment,’ but the average hold time is less than two years. You would never plant an oak tree and dig it up every week to check its roots. Long term means long term.

A former teacher and suburban mother of two, Lisa Bedford is a blogger known as The Survival Mom. She encourages a calm, common-sense approach to planning for uncertainty in her new book, Survival Mom: How to Prepare Your Family for Everyday Disasters and Worst Case Scenarios. The Allstate Blog chatted with Bedford about the value of a ‘healthy dose’ of fear and why moms are perfect candidates for preparedness. Allstate Blog: You have a new book and a popular website: Why do you think your specific take on preparedness is resonating? Survival Mom: It’s not a far step for moms. It’s a natural progression from making sure kids are bundled up and warm to recognizing that there are other situations out there that we need to be aware of and prepared for. AB: There are so many scenarios people are trying to prepare for, are there any common denominators? SM: That’s what makes preparedness so smart. When you prepare for one event, you are prepared for others. So, for instance, when we do smart things like pay off debt or store food because prices are rising, it puts us in a good position in case of a natural disaster. It overlaps. AB: Is there a specific scenario that keeps you up at night? What got you started? SM: About four years ago, I saw things rapidly changing. It was not so much that we were in a recession, but how things happened so quickly—the cascade effect. It was the realization that there’s no protection, no magic fairy dust [to keep us safe]. AB: So what kinds of things have you done? SM: [I’ve learned] techniques for storing and purifying water, maintaining a customized food storage pantry for my family, and advanced gardening strategies (such as companion planting, greenhouse planting). I've also learned how to grow and use sprouts for additional nutrients in an emergency diet; the use of herbs and essential oils; how to use a solar oven; making varieties of bread from scratch and making homemade crackers (never even knew you could do that!). I’ve also taken a first-aid and CPR class and put together a comprehensive medical kit for our family and emergency kits for the kids’ backpacks, our vehicle, and even one for our pets. AB: What about the kids? How do they take part?   SM: [They’ve learned] how to dehydrate herbs and food for longer-term storage. Archery, and rifle and handgun target shooting for hunting, self-defense, and sport. Camping and outdoor skills. Handyman skills around the house. They know how to cook and bake from scratch. My daughter manages the herb garden; they both help with the veggies and fruit. My daughter has learned to quilt, sew, and knit. And [they’ve both learned] money management and about developing an attitude and mindset of self-reliance—very important. AB: Are there good storable foods that kids actually like? SM: Start with foods that are familiar to them right now.  In a crisis, comfort foods will be very important. I've stocked up on macaroni and cheese (both the blue box type as well as ingredients for homemade), soups (my son loves tomato soup), and freeze-dried fruit. I store ingredients, mostly, so I can whip up favorite recipes, even in a disaster! AB: Have your preparations ever been tested? SM: With my husband’s business, we hit dry spell for a while. And, fortunately, we had three to four months of food stored. It was good to know that we didn’t have to run to the store for everything; the [majority of the] grocery bill was taken care of. AB: If you only had three things to tell a mom about what to do to prepare for the unexpected, what would you say? SM: Start by determining the most likely and reasonable scenario to plan for. This narrows your focus. Then, look around and see what you have before you decide you can’t afford it. Americans tend to accumulate [things]. Third starting point, consider the basics: food, water and shelter. Regardless of the emergency, you are going to need water. Can you store water safely? How would you purify it if you had a boil order? I have handy food storage lists for items that don’t require cooking or refrigerating. Those are really big steps. AB: So, what's next in your own preparedness to-do list? SM: Getting my amateur radio license and radio equipment. Building a greenhouse. Taking a wilderness first aid class. And taking a CERT class [a first responder-type course] … as soon as I find the time!