It's heartening to know that seniors aspire to give back and do good in the second half of their lives. A survey conducted by Encore.org indicates that 4.5 million people ages 50 to 70 say they are working in "encore careers" today, and another 21 million are preparing to do the same. Encore careers, according to Encore.org, are defined as "working after midlife in roles that address important social needs."
The study indicated that interest in encore careers is on the rise. Of those individuals expressing a high interest in encore careers, only 1 in 8 respondents said they were concerned about earning enough income in an encore career. Comparing their earlier careers to encore careers, 80 percent of respondents said encore careers "provide as much or more opportunity to contribute to society" as their earlier careers, and 86 percent said encore careers were "as much or more enjoyable" as earlier careers.
Encore careers also represent a way to do something different: 7 in 10 who are working in encore careers said they are doing work that's new compared to the primary work they did at age 45. While the general perception may be that encore careers are only for seniors who are both well-educated and financially well off, the research study demonstrated the opposite: "Encores are for everyone, independent of education and economics." Only 2 in 5 respondents in encore careers have four-year college degrees or master's or higher degrees, and nearly 3 in 5 respondents in encore careers report household incomes of less than $45,000.
You can download the complete study below.