Revamping your retirement doesn't happen overnight. Here are the first steps you can take toward finding your encore career, according to Hannon:
Do some soul-searching: Think deeply about the abilities you've acquired during your career and how you might be able to use them in your new gig. Do you really want to turn a hobby into your full-time obsession? You should also think about how many hours you want to work. A gig as a consultant might give you more flexibility.
Do a test drive: Volunteer or moonlight in your new job before you make the leap from your current gig.
Network: Get back in touch with your alumni and industry groups and see what kind of work is available. Find people who are already doing the job you'd like to do, and ask them how they prepared themselves.
Research: As you burnish your resume, do your homework on the web. Patina Solutions, HourlyNerd and Upwork connect professionals with companies in search of expertise. Find a post that will let your years of experience shine.
Clean up your finances: You'll feel less constrained during your job search if you don't have large debts hanging over your head. Use your five-year horizon to aggressively pay down credit card balances and reduce housing expenses.
"When you move to these secondary jobs, you have the liberty to be nimble and try jobs you wouldn't have been able to do before retirement because the salary wasn't up to par," Hannon said.
"Debt is a dream killer; financial fitness is really important," she said.