Living in Retirement

Reinvigorate Your Life With an Encore Career

When you think of retirement, do you imagine lolling on a far-off beach or maybe curling up with the latest novel? Since retirement is lasting longer than ever, many retirees don’t relish the idea of 30 years of leisure—or believe it is financially sustainable. About half of today’s workers say that they plan to work after they retire, according to a recent report from the Society of Actuaries.1

“They don’t want to be on the front porch swing; they want to stay busy,” says Ryan Young, a Bradenton, Florida-based financial advisor for SunTrust Investment Services.

Consider this an opportunity to try your hand at an encore career—a term used to describe a second work life that combines personal and social meaning—and a paycheck. Here are a few of the benefits you can expect if you decide to launch a second career.

1.     A bigger bank account

Money will play a key role in your decision whether to continue to work during retirement. Review your situation to see if you have enough income to support yourself for three decades of retirement. (Don’t forget to factor in inflation!) If you might fall short, working in retirement could be the best way to generate the extra income you need to close your gap.

A retirement job also means you can decrease or even discontinue withdrawals from your retirement investments, giving them the opportunity for potential growth. “We talk about Social Security, pensions and investment accounts as the three legs of the stool when it comes to retirement,” says Young. “For many, a second career becomes the fourth leg to support them.”

2.     A new passion or a return to an old one

With a lifetime of experience behind you, you have a lot of wisdom to share with others. An encore career can be an opportunity to give back to your community. Many retirees choose a second career in their field but take on a different role with reduced hours. For instance, Young cites the example of a lawyer who now does part-time mediation.

On the other hand, you may want to change fields entirely. An encore career can be your ticket to a passion you’ve only dreamed about—while also producing some income.

3.     Better health

An encore career can be a way to give yourself purpose and keep your mind and body busy. Plenty of research shows that keeping your brain active helps protect against some aspects of cognitive decline as you age. And physical activity—anything that gets you out of your chair—helps maintain strength and stamina. “As a society we’re more mobile than ever,” says Young. “People are used to being active and on the go, and they don’t want to give that up in retirement,” says Young.

For more information about retirement, investing, and financial planning, consult with a SunTrust Investment Services Financial Advisor or learn more how SunTrust can help you with your retirement and investments needs.

1 "2011 Risks and Process of Retirement Survey Report." Society of Actuaries, July 2012.

This content does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.


Investment and Insurance Products:

Are Not FDIC or any other Government Agency Insured   Are Not Bank Guaranteed  May Lose Value 

© 2018 SunTrust Banks, Inc

equal housing logoSunTrust Bank is an Equal Housing Lender. Member FDIC

equal housing logoEqual Housing Lender. SunTrust Mortgage, Inc

SunTrust, SunTrust Mortgage, SunTrust PortfolioView, SunTrust Robinson Humphrey, SunTrust Premier Program, AMC Pinnacle, AMC Premier, Access 3, Signature Advantage Brokerage, Custom Choice Loan and SunTrust SummitView are federally registered service marks of SunTrust Banks, Inc. All other trademarks are the property of their respective owners.

Services provided by the following affiliates of SunTrust Banks, Inc.: Banking products and services are provided by SunTrust Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank, SunTrust Delaware Trust Company and SunTrust Banks Trust Company (Cayman) Limited. Securities, brokerage accounts and insurance (including annuities) are offered by SunTrust Investment Services, Inc., a SEC registered broker-dealer, member FINRA, SIPC, and a licensed insurance agency. Investment advisory services are offered by SunTrust Advisory Services, Inc., a SEC registered adviser. GFO Advisory Services, LLC is a SEC registered investment adviser that provides investment advisory services to a group of private investment funds and other non-investment advisory services to affiliates. Mortgage products and services are provided by SunTrust Mortgage, Inc.

SunTrust Mortgage, Inc. - NMLS #2915, 901 Semmes Avenue, Richmond, VA 23224, 1-800-634-7928. CA: licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, IL: Illinois Residential Mortgage Licensee #MB-989, Department of Financial and Professional Regulation, 100 W. Randolph, Suite 900, Chicago, IL 60601, 1-888-473-4858, MA: Mortgage Lender license #-ML-2915, NJ: Mortgage Banker License - New Jersey Department of Banking and Insurance, NY: Licensed Mortgage Banker—NYS Department of Financial Services, and RI: Rhode Island Licensed Lender.

"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; SunTrust Advisory Services, Inc., a SEC registered investment adviser which provides Investment Advisory services.

SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups and GenSpring are marketing names used by SunTrust Bank, SunTrust Banks Trust Company (Cayman) Limited, SunTrust Delaware Trust Company, SunTrust Investment Services, Inc., and SunTrust Advisory Services, Inc.

SunTrust Bank and its affiliates do not accept fiduciary responsibility for all banking and investment account types offered. Please consult with your SunTrust representative to determine whether SunTrust and its affiliates have agreed to accept fiduciary responsibility for your account(s) and if you have completed the documentation necessary to establish a fiduciary relationship with SunTrust Bank or an affiliate. Additional information regarding account types and important disclosures may be found at

SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRA and SIPC.