Second Act Success Stories: 5 Common Themes

What I've Learned From 78 Interviews

for my Second Act Stories Podcast

by Andy Levine at nextavenue.org
 

I’ve found five common themes among the second act success stories of people who became entrepreneurs for the first time in midlife or later:

    1. Find what feeds you. The most successful second acts, I’ve found, involve finding meaning and purpose.

In a survey by the career counseling site CAREEREALISM, of the 55% of professionals that identified as “seasoned workers” or “mid-life career changers,” 87% responded that they think age discrimination is hurting their job search.

    Certain industries are especially tough for seasoned workers. In the technology sector, for instance, baby boomers and Gen X-ers are both at higher risk for age discrimination. A survey by Dice Insights found that 68% of boomers in tech say they’ve been discouraged from applying for a position because of their age.
 

More older Americans are retiring earlier than planned as the pandemic triggers unexpected job losses and heightens health risks at work, says a new working paper. Many laid-off workers are choosing not to seek out new employment due to virus concerns, opting for “the lesser of two evils,” reports CNBC. One of the nation’s leading experts on retirement says half of those aged 55 and up will retire poor or near poverty because of the pandemic-induced recession. MORE

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Influencers — people with the power to affect others’ attitudes and purchasing decisions — have been around forever. Pope Francis has even called the Virgin Mary the first influencer. But the influencer industry has really come of age with the rise of social media.

    That’s not to say that the influencers themselves have come of age, however. According to one report, just 12% of Instagram influencers are older than 35 and just 1% have reached their 50s. And virtual influencers — lifelike characters who exist only online — are no more mature.   MORE
 

After a long stretch where job seeking was definitely a buyers market, the Covid pandemic and resulting economic shutdown have thrown the job market into a swirling tailspin.

    So many job seekers – of all ages, but especially among the older contingent – have loudly lamented about how difficult the job market has become. Despite recent gains in the unemployment rates among older job seekers, many searches continue to come up empty.

    The question then becomes, if the employment picture is brightening for older workers, why are so many still frustrated?

    For decades stock market analysts and Wall Street pundits have bemoaned the market’s aversion to uncertainty. When uncertainty abounds, the stock market suffers. The same could be said for the economy in general and the job market in particular.

    With those in business worried about how long the economy will be surpressed because of the Covid situation, not to mention the wave of protests sweeping the nation, as well as the uncertainty that normally surrounds a presidential election and is it any wonder that the entire business climate is shrouded in uncertainty?

    How many companies are postponing adding staff or filing vacancies due to the overwhelming wave of uncertainty that has engulfed us? If there is an answer, it’s probably something like far too many.

    What’s a job seeker to do? As a job candidate, what is at your disposal to calm the fears of uncertainty?

    From one perspective, this could be a plus for the older job seeker. Ask yourself, what do we bring to the table that could stem the tide? 

    We can calm an employer’s fears by stressing our decades-proven reliability, our steadfastness and, of course, the many times that we’ve weathered the storm in the past. Let’s face it. Employers want to be assured and confident in their hiring decisions and older applicants can deliver that in spades.