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V O L . X X V I I I N O. I V F E B R UA R Y 2 1 , 2 0 2 2 12 W E A LT H M A N A G E M E N T / R E T I R E M E N T swinging golf clubs or playing cards are giving way to a new mindset about staying active and finding fulfillment in volunteering or paid work, or traveling and learning new skills. at's espe- cially true of baby boomers, the gen- eration born between 1946 and 1964. One report documenting the trend was put out by the Transamerica Center for Retirement Studies in August. Out of 573 boomers surveyed for the study, seven of 10 are currently working or expect to work past age 65 or do not plan to retire at all, while eight in 10 have a strong sense of purpose and consider themselves to be in good or excellent health. On the flip side, only three out of 10 respon- dents have a backup plan for retire- ment income if forced to leave the workforce early, and only one out of five were very sure of their ability to retire comfortably. While some retirees reenter the workforce because they need the money, Barbara Babkirk, a Portland-based career counselor and transition coach to profes- sionals ages 50 and older, finds that working retirees are moti- vated mainly by purpose and sociability. "I met with a client last week who said, 'After two years I really need to go back to work.' He thought writing would be enough, but what he really misses is being in the mix," she says. "Boomers are not interested in sitting still, they're inter- ested in being intellectually engaged and feeling like they're making a contribution." Former Procter & Gamble execu- tive Nancy Strojny feels that way after more than a decade with SCORE, a nationwide network of volunteer mentors to small businesses. Strojny, 72, became SCORE Maine assistant district director in October 2020. She says she plans to stay with the organi- zation "as long as I can make a differ- ence," adding: "You can't keep a baby boomer down." A new vocabulary e new retirement mindset is also sparking a whole new terminol- ogy. "Pre-tired" is a favorite of Rick Francis, a Scarborough-based consul- tant to religious organizations across New England through the nonprofit Cecil B. Day Foundation after a var- ied career in several industries. "Officially I no longer have a full- time position, but I cobble all these little things together just to keep myself busy," the 69-year-old says. "I don't know if I'll ever fully retire." At 65, former Bernstein Shur CEO Patrick Scully isn't ready to retire either, and was recently named to the Maine Public Utilities Commission. "Retiring into the beginning of COVID," he says, "I realized very quickly I wasn't ready to be done." Similarly, Patricia Weigel still chairs Norway Savings Bank's board and serves on various committees after retiring recently as the bank's CEO. e 62-year-old has taken up Nordic-style skate skiing, and sets weekly goals for herself as she did in her working life: "I have always been a curious person who's liked to learn a lot," she says. "at hasn't changed with retirement." » C O N T I N U E D F RO M P R E V I O U S PA G E Providing comprehensive media and communication strategies, playbooks, and related services to corporate clients for over 35 years. Serving Maine and Surrounding Areas 207-542-8741 nappamedia@msn.com êêêêê " Nappa's marketing skills are almost beyond measure. His talents with language and visual appeal are remarkable. He is a leader through-and-through and a professional of the highest caliber." — Charlie Richmond COO of Uniship Medical Courier Services AWARD-WINNING MEDIA & COMMUNICATIONS SERVICES VISIT OUR WEBSITE FOR DETAILS AND ENDORSEMENTS Schedule your FREE CONSULTATION between now and December 31st, 2021. P H O T O / T I M G R E E N WAY Retired HR manager Michelle Rich contemplates her next professional chapter, possibly as a wellness coach. You can't keep a baby boomer down. — Nancy Strojny SCORE Maine F O C U S

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