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Co founder and Senior Vice President at GetSetUp
The number of people over 60 in India will rise to 319 million by 2050, and many of them are finding creative ways to fill their time well past retirement age. For some, that means remaining in or rejoining the workforce. “Seenagers”—older adults with a new lease on life similar to the enthusiasm and hopefulness of teenagers are seizing new opportunities to live life to the fullest, including pursuing new career avenues. Some are starting their own businesses, while others are self-employed and doing contract or freelance work. The good news is that there are more resources than ever before to help them in the transition to or continuation of work.
Entrepreneurship is on the rise for older adults
Entrepreneurship is no longer just for the young. More and more older adults in India are creating their own incomes through entrepreneurship. It’s an excellent opportunity to follow a lifelong passion or hobby or simply to share expertise gained from a lifetime of work. That expertise often leads to success. A recent study found that 67% of business owners over 50 report a profit. Startup accelerators, which offer mentorship and financial support to new businesses, are an excellent way for older adults to learn about entrepreneurship and add people to their network.
Self-employment for older adults means flexibility
The gig economy, such as freelancers and contract workers, can be an attractive option for older adults. It keeps them active in the workforce but also affords them flexibility. They can take the jobs they want and spend only the time they want on any given job.
With the freedom of freelance work, there also comes more responsibility. Independent contractors need to keep an updated resume with the different projects worked and skills gained. Invoicing is up to the worker. There are many online tools to assist with that task. They will also need to keep up with paying their taxes. In addition to these responsibilities, for people considering working past retirement age, it’s a good idea to fine-tune technology skills and gain new ones.
Adding to the flexibility of gig work is another trend—remote work. During the pandemic, many companies allowed employees to work from home, and the trend is here to stay. This is a great resource for people who want to enjoy traveling during retirement or who have health concerns that make it difficult to get to and from work in outside locations.
The role of lifelong learning in keeping older adults in the workplace
Technology is developing at a breakneck pace, and we now have work tools we wouldn’t have dreamed of 30 years ago. But navigating this new world can be intimidating for anyone—and it’s especially difficult for those new to technology.
So, what can older adults do to keep up? Reskill and upskill! Reskilling means learning new skills in order to stay relevant in the workplace, while upskilling means learning more advanced skills in order to advance in your career or job. Both are important for staying agile, marketable, and employable as an older adult.
It’s particularly important that older adults learn how to use Zoom, how to use Google Tools , and how to interview successfully online if they don’t already know this. There are tons of great opportunities out there—just do a little research on what’s available on platforms and take advantage of them!
The future will not be limited by age. It is flexible, bright, and expansive. The expertise, experience, and time-tested ideas of older workers can benefit both employers and employees alike, so now is the moment for seenagers to start their next business venture!
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Views expressed above are the author’s own.
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