Editors' pick: Originally published Nov. 17.
The big question these days is, should we even call it retirement any more?
According to a survey by the Transamerica Center for Retirement Studies: "Sixty-somethings and older workers are casting aside long-held societal notions about fully retiring at age 65."
The report, Retirement Throughout the Ages: Expectations and Preparations of American Workers, says 82% of Americans surveyed plan to or are already working past age 65, or, they have no plans to retire.
Justin Halverson, of Great Waters Financial in Minneapolis, says he has seen the trend among his clients. "They either want to do it for the money or they just want to stay active, stay engaged and look for social interaction and social purpose."
Which brings us to the question. Why are some people successful in those post retirement jobs or careers while others are unsuccessful.
According to financial planners and jobs experts, the keys to having that successful encore career are purpose, passion and planning.
Author and career expert Kerry Hannon says the people who are the most successful are those who have taken the time to plan the move, and have not made rash decisions.
"I takes three to five years to set yourself set up in an encore career," she says. "You need to add skills you might need, network and find out what the job is about. Also, get financially fit and pay down debt so you're not dependent on making a lot of money.
"The successful ones take their time, moonlight and do the job first to lay the groundwork," she says. "They start in baby steps before they leave their careers."