Last updated on Aug 14, 2024

What do you do if you're an engineer contemplating retirement or continuing to work in late career?

If you're an engineer approaching the end of your career, you might be wondering what to do next. Should you retire and enjoy your free time, or should you continue working and keep your skills sharp? There is no one right answer, but there are some factors to consider before making your decision. In this article, we'll explore some of the pros and cons of retirement and late career work for engineers, and offer some tips on how to plan ahead and make the most of your options.

1 Retirement benefits

Retiring from engineering can have many benefits, both personal and professional. You can pursue your hobbies, travel, volunteer, or spend more time with your family and friends. You can also avoid the stress, pressure, and deadlines that come with engineering projects, and have more control over your schedule and pace. Retirement can also give you the opportunity to reflect on your achievements, share your wisdom, and mentor younger engineers.

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2 Retirement challenges

However, retirement also comes with some challenges, especially for engineers who are used to solving problems, learning new things, and creating value. You might feel bored, isolated, or unfulfilled without a clear purpose or direction. You might also miss the intellectual stimulation, social interaction, and recognition that engineering work provides. Retirement can also affect your income, health, and identity, so you need to prepare financially, physically, and emotionally for this transition.

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Ian Austin, P. Eng

Engineer & Energy Professional turned Financial Advisor | Amateur Cyclist | Sports Parent
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As somebody who has worked as an engineer for 20 years I can say that work takes up a large part of life. This can leave a hole when deciding to leave paid work, leaving you to forget about all the good things you’re gaining by being “work optional”. Three pieces of advice: - Hobbies, hobbies, hobbies: ensure you have a set of activities that you really enjoy/give fulfillment. Find something to fill the time, before the time eats you - Check the Ego: once you’re done working, nobody really cares what you did - they care about who you are and how enjoyable you are to be around. Learn to slow down and enjoy things as they come - Volunteer: if you really need to work, do something to give back. It does wonders for keeping point 2 in check

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3 Late career opportunities

If you decide to continue working as an engineer in your late career, you can enjoy some advantages that retirement doesn't offer. You can keep your skills updated, learn new technologies, and tackle new challenges. You can also leverage your experience, expertise, and network to advance your career, increase your income, or make a positive impact on society. Working in your late career can also boost your self-esteem, confidence, and satisfaction.

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4 Late career obstacles

On the other hand, working as an engineer in your late career can also pose some difficulties that retirement can avoid. You might face age discrimination, bias, or stereotypes from employers, clients, or colleagues. You might also struggle to keep up with the changing demands, expectations, and standards of engineering design. Working in your late career can also take a toll on your health, well-being, and work-life balance, so you need to manage your stress, energy, and priorities.

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5 Planning ahead

Whether you choose to retire or work in your late career, you need to plan ahead and make informed decisions. You need to assess your goals, values, interests, and needs, and align them with your options and opportunities. You also need to consider your financial situation, health condition, family circumstances, and personal preferences. You can consult with a financial planner, a career coach, a health professional, or a trusted mentor to help you with your planning.

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6 Making the most

Whatever you decide to do in your late career or retirement, you can make the most of it by staying active, curious, and connected. You can pursue lifelong learning, take online courses, read books, or join professional associations. You can also engage in meaningful activities, volunteer for a cause, start a side project, or teach or mentor others. You can also maintain your social network, reach out to old friends, make new ones, or join a community of like-minded people.

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Ian Austin, P. Eng

Engineer & Energy Professional turned Financial Advisor | Amateur Cyclist | Sports Parent
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Embrace this. Think of it, as a retiree (or somebody work optional): how many other chances will you get in life to do exactly: - what you want - when you want to do it - with who you want to do it with

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if you're an engineer contemplating retirement or continuing to work in late career?

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1 Retirement benefits

2 Retirement challenges

3 Late career opportunities

4 Late career obstacles

5 Planning ahead

6 Making the most

7 Here’s what else to consider

Engineering Design

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What do you do if you're an engineer contemplating retirement or continuing to work in late career?

1

2

3

4

5

6

7

1 Retirement benefits

2 Retirement challenges

3 Late career opportunities

4 Late career obstacles

5 Planning ahead

6 Making the most

7 Here’s what else to consider

Engineering Design

Rate this article

Thanks for your feedback

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