5 Steps to Your Next Career

These tips can help you find an encore career.

By Mary Beth Franklin, Senior Editor

Bob Frick, Senior Editor

From Kiplinger's Personal Finance magazine, April 2008

Not ready to retire, but not sure what you want to do next? These five steps will get you on the path to a job you'll love.

1. Contact age-friendly employers

RetirementJobs.com and AARP identify companies that are eager to recruit and retain workers older than 50. Some companies on the list: Best Buy, Borders, John Hancock, Quest Diagnostics, REI and Wells Fargo.

2. Get tech-savvy

If you want to be a self-employed consultant or start your own business, an online presence is essential. The easiest way to set one up is to purchase an off-the-shelf package from Yahoo Small Business, Web.com or GoDaddy.com (see Put Your Business Online).

3. Build a cash stash

Financial insecurity is the number-one reason workers are reluctant to take a chance on a second career, says Brian Kurth, founder of VocationVacations. Donna Morris and Bill Sweat squirreled away their work bonuses in a "dream job" fund to cover their living expenses while they got their vineyard off the ground (see Retire to Your Dream Job).

4. Cover your health insurance

If you don't have coverage through your job (or your spouse's), look into an individual policy with a high deductible to keep your premiums manageable, combined with a tax-favored health savings account to pay for out-of-pocket expenses. Shop for a policy at eHealthInsurance.com or through an independent agent (find one at www.nahu.org).

5. Be professional

Update your resume and references, research prospective employers, mine your past contacts, and keep at it. Today, "the persistent bird gets the worm," advises RetirementJobs.com.

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