Unretirement

What if the best years of your life didn’t end at sixty-five—but simply changed shape? In Unretirement, journalist and economist Chris Farrell argues that the traditional idea of retirement as permanent leisure is outdated. Instead of fading away, Farrell contends that millions of older Americans are rediscovering work as a source of meaning, creativity, and security. He calls this transformation unretirement—a movement where older workers choose engagement over withdrawal.

Farrell’s central claim is that aging doesn’t have to mean decline. He believes the coming decades will see a massive cultural shift toward longer, more flexible, and more purposeful careers. Drawing on demographics, economics, and personal stories, he paints a vision of a society where older workers, entrepreneurs, and volunteers become vital contributors to innovation and community life. Farrell proposes that the best way to approach aging is with economic realism and social optimism: keep working, keep learning, and keep connecting.

The New Work-Life Revolution

The book opens with the paradox of growing longevity. Americans are living longer, healthier lives, yet our cultural expectations about work haven’t caught up. Farrell points out that half a century ago, retirement was often short and followed by declining health. Today, many boomers will spend twenty or thirty years after age sixty-five still energetic and capable. That demographic reality, combined with financial necessity and intellectual curiosity, means the old idea of retiring to a golf course or a motor home doesn’t fit anymore.

Instead, Farrell envisions a blended life stage: people move gradually from full-time work into part-time schedules, consulting, volunteering, or starting businesses. They may pursue encore careers that bring together accumulated wisdom and new passions. Boomers, he writes, aren’t the “me generation” but the “us generation,” using their networks to create opportunity and meaning through shared experiences.

Why This Shift Matters

Farrell sees profound economic implications in this trend. Working longer means earning income longer, sustaining consumer demand, and contributing to tax revenue. Delaying Social Security benefits and continuing to save can dramatically improve household finances. More importantly, unretirement can alleviate social fears about aging, dependency, and generational competition. Older workers don’t necessarily take jobs from younger people—studies show that hiring elders often expands overall employment and productivity. Instead of an economy divided by age, Farrell imagines one enriched by intergenerational collaboration.

This reframe also offers psychological and communal benefits. Work brings structure, connection, and identity. Without it, many retirees suffer loneliness or loss of purpose. Farrell argues that the solution isn’t endless leisure but meaningful engagement—paid or unpaid—that gives people a sense of contribution. As one Kansas City retiree told him, “You get out every day, meet people, and time goes by fast.” That sense of usefulness becomes the currency of later life.

From Fear to Optimism

Farrell challenges the incessant fearmongering around aging. Politicians and pundits warn that Social Security and Medicare will bankrupt America or that older workers will clog the labor market. He calls these claims misguided. Productivity and innovation, not demographics, drive prosperity—and older adults bring talent and experience that strengthen both. Using historical comparisons and data, he proves that the economy has always adjusted to demographic change, from the industrial revolution to the digital age.

(Note: He contrasts this optimism with economist Robert Gordon’s prediction of permanent stagnation, arguing instead that human creativity and adaptability will fuel a new phase of prosperity.) This hopeful narrative invites you to see the later decades not as dwindling time but as an expanding frontier.

Navigating the Unretirement Landscape

Farrell divides his exploration into several themes: the cultural shift from the “leisure ideal” to the “engagement ideal”; the rise of senior entrepreneurship and encore careers; the power of networks and lifelong learning; and the emerging industries that support older workers—from organizations like Encore.org and ReServe to tech firms designing tools for aging consumers. He shows that both business and policy will need to adapt, creating flexible work arrangements, better health coverage, and lifelong training programs.

Globally, he highlights how Japan, Europe, and even China are beginning to reckon with aging workforces, finding ways to keep seniors productive. The United States, with its entrepreneurial culture, is poised to lead this transformation—if it can shed stereotypes about age.

Why You Should Care

For anyone approaching midlife or already retired, Farrell’s message is enormously empowering. You don’t have to fear running out of money or meaning. Instead, you can see work as an evolving canvas for purpose and connection. Unretirement isn’t just about jobs—it’s about designing the next chapter of a fulfilling life. Farrell’s examples of teachers turned mentors, executives turned nonprofit founders, and technicians turned artisans show how economic survival and personal growth intertwine.

“Older workers are to the first half of the twenty-first century what women were to the last half of the twentieth,” economist Eugene Steuerle tells Farrell—suggesting that aging Americans may spark the next great social revolution in work and identity.

Farrell leaves you with a practical invitation: plan your unretirement early, network relentlessly, stay curious, and focus on freedom—“Freedom,” he reminds us, “is low overhead.” In other words, keep your life flexible, your expenses lean, and your possibilities wide open. The future of aging, in his view, is not about slowing down but about waking up—to new ways of working, living, and sharing the adventure of time.

Farrell’s argument begins with a radical reframing: the idea that the so-called retirement crisis is really a myth. He traces the origins of retirement to the early 20th century, when industrialization and social insurance created a rigid divide between work and leisure. In those days, most older workers couldn’t afford to stop working, and when they did, their health declined quickly. The Social Security Act of 1935 was a triumph of compassion but also cemented the idea that old age meant withdrawal.

Now the pendulum is swinging back. Farrell describes how longer lifespans, better education, and the changing nature of work are blurring that boundary. A majority of boomers tell surveyors that they expect—or want—to keep working beyond sixty-five. For many, this choice isn’t about desperation; it’s about fulfillment. Psychologically and economically, work offers rewards that social planners never anticipated.

Work as Meaning and Identity

People have always linked identity to work. Farrell reminds readers that Americans historically admire industriousness—from farmers to programmers. Drawing on Studs Terkel’s Working, he shows that work has always been about “searching for daily meaning as well as daily bread.” Boomers, raised on the ethos of purpose-driven life, now redefine that meaning in their later years.

The examples he gives are vivid: Pat Brune, a retired court clerk who continues leading community initiatives; Stephen Shepard, who launched a journalism school at age 65; and many professionals who find new vocations through volunteering or teaching. These stories illustrate how continuing to work doesn’t mean refusing to age—it means owning the freedom of choice.

The Economic Logic

Farrell backs his optimism with economic data. Working longer dramatically increases lifetime earnings, improves Social Security returns, and shrinks the period of retirement that depends solely on savings. He cites Congressional Budget Office research showing that delaying retirement from 62 to 70 can more than double annual benefits. He also notes that staying in the labor force keeps national output growing, expanding taxable income rather than shrinking it. In economist Eugene Steuerle’s words: “More output means more income for workers. More income means more revenue for government.”

That pragmatic angle sets Unretirement apart from purely lifestyle books. It’s both moral and fiscal realism—an argument that aging well aligns with thriving economically. Farrell insists that unretirement isn’t just good for seniors; it’s good for society’s bottom line.

From Crisis Thinking to Renewal Thinking

Farrell rejects the language of “crisis”—a tone that dominates headlines about social security insolvency or generational conflict. Instead, he calls for collaboration. Older workers don’t steal jobs from the young; they often create them, as mentors, entrepreneurs, or consultants. He likens unretirement to women entering the workforce in the twentieth century: at first feared, later recognized as a vital expansion of talent and productivity. (Note: This parallels Richard Florida’s argument in The Rise of the Creative Class that diversity fuels innovation.)

Ultimately, the rise of unretirement marks a cultural revolution. It’s not about resisting age—it’s about redefining it. “Work is about balance, not escape,” Farrell writes, hinting at the idea that leisure and labor can coexist. This balance gives older workers renewed dignity and helps rethink what productivity looks like when measured across a full lifetime.

If unretirement is the movement, encore careers are its beating heart. Farrell introduces Marc Freedman—founder of Encore.org—as the visionary who turned the idea of purposeful second careers into a national conversation. Freedman’s organization celebrates people in the second half of life who combine income with impact, earning money while tackling social issues like education, poverty, and healthcare.

Defining the Encore Career

An encore career isn’t a hobby or a temporary volunteer stint. It’s a deliberate reinvention where experienced professionals repurpose their skills for meaning. Freedman’s annual Purpose Prize honors people like Susan Burton, who founded a program to help women reenter society after prison, and Wanjiru Kamau, who supports African immigrants. Farrell uses these stories to show that thousands of boomers are finding satisfaction in merging competence with compassion.

He argues that this movement is reshaping what aging looks like. You’re not simply winding down; you’re leveling up, using decades of insight to serve broader causes. For many, that means leaving high-paying corporate positions for nonprofit leadership, teaching, community organizing, or entrepreneurship in social ventures. Meaning becomes the new currency.

Networks and Mentorship

Farrell highlights the power of conversation and networking in navigating encore transitions. Whether through formal programs like SHiFT in Minneapolis or informal coffee chats, older adults find clarity and encouragement by connecting with peers. These networks become incubators for ideas—a place, as Farrell puts it, “to connect the disconnected.”

When boomers talk to one another about shared challenges—identity, finances, health—they build parallel support systems to traditional workplaces. This community aspect transforms aging from solitude into collaboration, echoing the ethos of the “us generation.”

The Ripple Effect

Beyond individual satisfaction, Farrell sees encore careers as a lever for social change. He compares them to earlier civic movements—the Peace Corps, women’s liberation, civil rights—but now led by elders. Their knowledge and resilience become strategic assets for rebuilding communities and mentoring younger citizens. Economically, these roles often extend workforce participation while filling leadership gaps in local nonprofits and schools.

“Vision isn’t enough,” Marc Freedman says. “We need to invent.” That line becomes a rallying cry for Farrell’s readers: a reminder that unretirement isn’t passive—it's creative action.

Unretirement thrives, Farrell concludes, when people stop asking “What do I retire from?” and start asking “What do I contribute to?” In that shift lies the blueprint for purpose, longevity, and joy.

Farrell dedicates an entire section to the rise of “third-age entrepreneurs”—men and women starting businesses later in life. While media attention centers on young innovators like Mark Zuckerberg, the data tells a different story: Americans aged fifty-five to sixty-four launch businesses at higher rates than any other group. In fact, they now account for nearly a quarter of new startups.

This trend, according to Farrell, stems from experience, networks, and a desire for autonomy. For many aging professionals, self-employment offers flexibility and creative control that traditional jobs lack. The examples he provides—from Detroit’s TechTown incubator to small-town coffee shops—show how older entrepreneurs pair seasoned judgment with youthful daring.

Lessons from the Field

Pat Harris, who opened the Bottom Line Coffee House with her family, represents the courage and adaptability Farrell celebrates. After two decades in human resources, she wanted to try something new and revitalize her hometown. “You’ve got to go for it,” she told him, embracing risk with enthusiasm. Similarly, Milton Roye, a former automotive executive, founded ENRG Power Systems to improve truck fuel efficiency. Though funding and customers were uncertain, he saw entrepreneurship as the logical extension of a lifetime of problem-solving.

Farrell shows how these ventures draw on deep networks. Older founders often succeed because they can call on decades of professional relationships and reputational capital—advantages younger entrepreneurs lack. They also tend to balance ambition with practicality, studying markets carefully and launching businesses that match realistic goals.

The Economics of Lifelong Risk

Drawing from Kauffman Foundation research, Farrell argues that entrepreneurial risk-taking doesn’t fade with age—it matures. He invokes Henry David Thoreau’s question, “What are you waiting for?” and Peter Bernstein’s definition of risk as “to dare.” For older adults, financial caution coexists with creative daring. They think through downside scenarios but refuse to settle for irrelevance.

Farrell also introduces micro-scale entrepreneurship: selling crafts online, writing books, teaching yoga, or joining co-working spaces. Technology has lowered startup costs and expanded access to customers. As consultant William Zinke notes, “You can start a business without a great deal of money these days.” For retirees, these ventures are often part-time, supplementing income and satisfying curiosity.

From Individual Risk to Collective Opportunity

Beyond personal success, Farrell sees an emerging ecosystem supporting older founders: incubators, mentoring networks, angel investors, and social enterprises that value life experience. Groups like Senior Entrepreneurship Works and Aging2.0 are creating networks for late-career innovation. He compares this moment to the early days of financial planning in the 1970s—disorganized but full of promise. The difference, he says, is that unretirement is democratic, inviting ordinary citizens into the game of creation.

“Don’t let money stop you,” Pat Harris tells fellow entrepreneurs. “It’s really being passionate about what you believe in.”

In celebrating third-age entrepreneurship, Farrell reminds readers that the hunger to build—to make, teach, and innovate—doesn’t vanish with age. It simply gains wisdom.

Throughout Unretirement, Farrell emphasizes conversation as the hidden fuel of reinvention. He discovers again and again that transitions rarely happen in isolation—they happen over coffee, through mentors, and inside networks that help people think through options and trade-offs. Half of all jobs, research shows, come through personal connections rather than online ads. And those hired through networks also report greater job satisfaction.

Building the 'Us Generation'

Tom Wolfe once branded boomers the “me generation,” but Farrell insists their later years are transforming them into the “us generation.” Decades of professional experience have given them rich social capital—friends, colleagues, alumni networks, and civic ties. These networks become tools for rebuilding identity after layoffs or retirement. For many, they offer emotional fuel in the dark weeks of doubt that accompany big transitions.

Cris Siebenlist, a retired special education teacher, illustrates how networks truly function. After leaving her job, she was hired for part-time positions—a teaching assignment at a community college and a sustainability program at the local YWCA—thanks to friends who recommended her. She calls networking “essential,” adding, “Whether you want to volunteer or work, the network is how we find jobs.”

Organizations and Local Innovation

New nonprofits and business networks are springing up across the country to help older adults connect. Farrell profiles SHiFT in Minnesota, Discovering What’s Next in Boston, and Life by Design NW in Portland. These groups combine education, career coaching, and community building. They exist because, as Doug Dickson of Discovering What’s Next puts it, “Nobody’s quite figured it out yet… there’s a lot of experimentation going on.”

These experiments suggest an emerging industry—a mix of nonprofit guides, government programs, and tech tools—aimed at helping people plan their encore careers. Business partners like AARP’s Life Reimagined for Work and Encore.org complement local networks, turning what used to be a personal challenge into a shared social movement.

Staying Local: The Value of Community Roots

Farrell argues that community networks deserve the same respect as professional ones. While earlier generations often moved south for retirement, most elders today prefer to age in place—to remain near friends and family. Staying local helps sustain those invisible ties that create opportunity. Leaving for a distant retirement community, he warns, can mean losing your entire social capital overnight.

Farrell’s advice? Invest time in community life. Join local boards, attend events, mentor younger workers, and treat conversation as currency. In isolation, aging feels like diminishment. In connection, it becomes renewal.

Farrell insists that successful unretirement requires both imagination and planning. Throughout Chapter 13, he contrasts despairing narratives about retirement poverty with data showing most Americans are doing better than they think. He dismantles alarmist forecasts predicting that half of retirees will live on “five dollars a day.” While acknowledging inequality, he finds evidence that many households have recovered from economic shocks and can sustain reasonable living standards—especially if they work longer.

The Real Numbers

Farrell cites research by economists Alan Gustman and Thomas Steinmeier showing that early boomers lost only 2.8 percent of wealth during the Great Recession—a small drop compared to doomsday projections. Another study using the Survey of Consumer Finances found net wealth among boomer cohorts relatively stable, with younger retirees often better educated and prepared. His conclusion: “Not much happened” to derail their financial security. The supposed crisis, he says, is more perception than reality.

Still, your financial decisions matter. Working past sixty-two multiplies Social Security income, and modest savings additions compound over time. Farrell offers common-sense guidelines: don’t drain retirement accounts for startups, keep emergency funds, and seek affordable health coverage.

The Frugal Mindset

Beyond numbers, Farrell introduces a rediscovered virtue—thrift. Drawing on early twentieth-century writers like Simon Wilson Straus and David Starr Jordan, he redefines thrift as “matching money with values,” not stinginess. True frugality, he explains, means choosing experiences over possessions. Many older Americans are embracing voluntary simplicity, trading consumer abundance for personal freedom. “Freedom,” says designer Harry West, “is low overhead”—a mantra Farrell champions.

This shift from consumption to experience also echoes Richard Florida’s vision of a “great reset” toward flexibility and sustainability after the Great Recession. Farrell argues that living frugally on your own terms brings psychological and social wealth, not deprivation.

Planning the Next Chapter

Farrell offers practical steps for planning an encore life. Network early, explore passions before leaving your main job, and treat career change as learning rather than loss. He quotes retirees from Next Chapter Kansas City: “You need to plan. It takes commitment to figure it out.” Intentionality transforms uncertainty into discovery.

Farrell sums it up best: “Put your savings on autopilot. Spend your time creating opportunities for income and meaning.”

Unretirement planning means treating your life as an investment portfolio—diversify work, relationships, learning, and joy. The return, Farrell promises, will “dwarf anything you get from picking a good mutual fund.”

Farrell closes Unretirement with macro-scale optimism: aging isn’t an economic burden but an opportunity for innovation. The fifty-plus population represents a $3 trillion market in the United States alone. Yet, industries still stereotype older consumers as frail or technologically inept. Farrell sees untapped potential for design, technology, and policy to serve this expanding demographic with dignity and creativity.

The Aging Market

He notes how companies like Apple and Oxo demonstrate “universal design”—products usable across ages. The Aeron chair, initially invented for the elderly, became an icon of youthful creativity. Farrell argues that this aesthetic crossover—design for comfort and beauty—signals how aging can inspire better innovation for everyone. Gianfranco Zaccai of Continuum puts it simply: “Make things easier to use but make them pleasurable.”

He warns against the dark side of profiteering—the costly and false promises of the anti-aging industry. Scholars at the Gerontological Society of America criticize companies selling “youth that doesn’t exist.” Farrell champions science that truly improves quality of life, not cosmetic illusions.

Global Aging and Economic Renewal

Unretirement isn’t just an American phenomenon. Farrell compares international responses to demographic change, from Japan’s Silver Human Resources program to Europe’s raised retirement ages. Worldwide, nations are learning that keeping elders employed fuels growth. “The times are a changin’ in Europe,” laughs activist Jan Hively, after witnessing business executives revise their assumptions about aging workers.

Farrell concludes that global longevity will require cultural adaptation, not fear. Productivity and engagement remain endless resources. Business schools, governments, and cities that foster creative aging will gain competitive advantage. Without innovation, societies risk economic stagnation—but with it, they gain renewal across generations.

Prosperity through Purpose

In the end, Farrell returns to Keynes’s vision in “Economic Possibilities for our Grandchildren.” As technology, aging, and purpose converge, abundance may triumph over anxiety. Older workers bring wisdom, creativity, and empathy—the social capital essential for sustainable prosperity. Farrell urges you to see yourself not as obsolete, but as indispensable.

“We are suffering not from the rheumatics of old age,” Keynes wrote, “but from the growing pains of change.” Farrell echoes that line, declaring that the age revolution is not decline—it’s progression.

In this vision, unretirement becomes a cornerstone of economic innovation. As Farrell promises, the future of work for grandparents will look more entrepreneurial, inclusive, and imaginative than ever before.