Downsizing, layoffs, buyouts. Companies are thinning herds all over the country.

The news business, in which I am a part of, is no different. Well, maybe a little different in that it's not just the economy, but technology. 

The internet has changed journalism. Everyone in news knows that they must migrate to the internet, but no one seems to understand how to make money at it.  Just yesterday, (2-23-09) the Philadelphia Inquirer, as well as several other newspapers filed for bankruptcy. Basically, media companies were downsizing before it became the in-thing to do. 

So coming on the heels of a huge buyout that was offered to individuals (at least from my perspective) here at ABC News in Washington, D.C. today,  I found this article on research that was done by the Journal of Consumer Research that will be in their March issue.  

It writes about transition in retirement. Many seniors, the research finds, reinvent themselves after retiring, pursuing a life dream, or new career, similar to a the journey during adolescence.  

So what if those that are laid-off, and fortunate enough to get some sort of buyout or severance, retool or reeducate. Use the time away from work during the down market, to move to a life dream. 

Retirees Are Pursuing Their Life Dreams 

Contrary to the stereotype of grandparents sitting on the porch in rocking chairs, 

retirement can be a time of personal growth and activity, according to new 

research in the Journal of Consumer Research. 

“Our research investigates retirement as a life stage focused on consumption 

where outdated cultural scripts for retirement are challenged,” write authors Hope 

Jensen Schau (University of Arizona), Mary C. Gilly (University of California, 

Irvine), and Mary Wolfinbarger (California State University, Long Beach).  

The researchers embarked on a research project to explore the phenomena called 

“identity renaissance.” They found that in contrast to images of seniors in decline, 

many retirees are using their time and money to pursue lifelong interests they had 

put aside in favor of more immediate obligations prior to retirement. 

Using in-depth interviews with retirees, observation of senior centers and a 

rehabilitation center, and monitoring online forums, the researchers revealed a 

culture of seniors actively engaging in new projects and picking up old ones. 

The study data reveals two categories of identity work among retirees: self- 

expression and affiliation. Self-expression tends to be more about enhancing or 

developing the self, and can involve “self-retrieval,” when people take up past life 

projects that were deferred or continue with life interests in the face of change 

such as illness or disability. Other self-expression projects involve the concept of 

“self-permanence,” or creating a lasting legacy; self-synchronization, which is an 

effort to align oneself with the current state of culture and society, such as buying 

a computer and learning to use the internet; or self-discovery, which entails 

creating new projects, life goals, or memories.  

Affiliation projects are more outward focused and can involve moving closer to 

friends and family; increasing a connection to a place, such as their homeland; or 

volunteering or working to improve the world situation. 

“Our research on retirement as a life transition demonstrates that this later life 

stage need not focus on cognitive or corporeal decline, but rather celebrate the 

vibrant identity projects of retirees,” write the authors. “It is a time of significant 

renewal, when individuals have time to engage in identity work in a way not 

possible since their adolescence.” 

Photo by flickr user Will Foster used under a Creative Commons license