How to Discover Your Encore Career

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A few four-year colleges are also launching encore career programs, such as Harvard University's Advanced Leadership Initiative. Contact local schools to see what's offered.

"We're at the early stages of developing educational opportunities that address this new retirement reality," says Nelson. Most of the existing retirement education is based on prior generations' expectations for a leisure-based retirement, he says, and focus on how to stay "active" mentally, physically and socially. Now, many people are confident that they'll be relatively healthy at an advanced age, but are more worried about having enough income, he says. "We don't need education that just helps people remain active," he says. "We need education that helps them build and maintain their prosperity, health and happiness."

Rather than trying to fill older people up with new knowledge the way we do with first-graders, Nelson says, we need to draw out the considerable knowledge they already have and connect it to their wealth of experience.

Also, invest time in your pursuit. While it's fine to realize an "Aha" moment at a weekend seminar, people are much more likely to develop and follow through with plans when they commit to a learning experience over time, lasting weeks or months, Nelson says.

Another tip: Make sure to update your computer skills. Older workers who aren't familiar with social networking sites Facebook, LinkedIn, and Twitter "need to learn about them—fast," according to the MetLife Mature Market Institute (MMI) October 2009 study, "Buddy, Can You Spare a Job? The New Realities of the Job Market for Aging Baby Boomers." Warns the MMI study: "Failure to do so not only gives hiring managers another reason to screen out older candidates, but it also supports the argument that 'they' will not fit in the culture."

Be prepared for the realities of the job market

"Older job-seekers who don't recognize that they're viewed differently in the job market are in for a rude awakening," wrote David DeLong, author of the MMI study. Age bias has been found to be a major barrier for older workers seeking jobs, but "being angry does not solve the problem of finding a job," MMI says.

When the job market eventually recovers, demand for highly skilled older technical and scientific talent is likely to pick up again, said Robert Skladany of RetirementJobs.com in the MMI survey. Look for industries that are growing, such as the food industry, transportation, utilities/energy, health care, and accounting, which tend to perform well even in bad times, Skladany said.

Second, find organizations with a workforce culture that respects all workers, advises MMI. Another place to search is small-to-midsize companies, which create the majority of new jobs, MMI notes. Places to start searching include RetirementJobs.com (more than 60 companies pass its "Age Friendly Certification Program," a premium service on the site), as well as AARP's "Best Employers" awards. Retailers and accounting firms typically need seasonal help, MMI says, and may be older-worker friendly.

McCormack is senior producer for BusinessWeek.com's Investing channel.

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