Why Volunteering After Retirement Can Boost Happiness

For many ex-CEOs and founders, swapping 60-hour weeks for leisurely days sounds good until the novelty wears off. Even though golf, travel and downtime are fun, they don’t seem to have the same sense of purpose as their careers. After all, retirement can feel quiet after decades of managing teams and solving high-risk problems.

It’s for this reason that a growing number of retired entrepreneurs are finding unexpected fulfillment in soup kitchens, classrooms, nonprofit boards and grassroots missions. Giving back isn’t just noble — it’s also deeply satisfying and surprisingly energizing.

Let’s explore why charitable work is more rewarding than retirement clichés and provide steps to make the next chapter of your life worthwhile.

The identity crisis no one warns you about

Retirement can feel disorienting if you’re used to being in charge, constantly making decisions, and chasing goals. A sudden drop in urgency and feedback can result in an identity crisis, leading you to ask, What am I without my business? What’s my purpose now?

It’s been found that retirees with strong ties to their previous careers are more likely to suffer from diminished mental health after retirement. Moreover, struggling to adjust to retirement undermines one’s ability to establish effective financial goals to maintain and improve financial security.

Volunteering bridges that gap. It taps into your leadership, problem-solving, and passion for impact — just in a different setting. It doesn’t matter if you mentor young entrepreneurs or build homes for families in need; you’re still using your gifts to make a difference.

As a result, former CEOs may find that volunteerism rekindles their passion, but without the pressure.

Why giving back feels so good

According to a research paper co-authored by Harvard Business School Assistant Professor Ashley Whillans and Canadian researchers Lara Aknin and Elizabeth Dunn, “prosocial spending” — spending on others — can increase happiness.

For entrepreneurs and CEOs, though, giving back has the following advantages;

• Pressure is replaced by purpose: Although the boardroom may be behind you, the desire to contribute never wanes. By volunteering, you can accomplish meaningful work without having to deal with quarterly earnings reports or payroll stress. Rather than showing up because you have to, you show up because you want to.
• It’s like solving problems, but it’s for people who really need it: Your insights can transform a nonprofit or first-generation college student, whether you’re working with a nonprofit or mentoring first-gen students. Often, organizations lack the strategic minds they need, yet they cannot afford them. On a human scale, you become a difference-maker.
• Engages your mind and emotions: Relaxation, not numbness, should be the goal of retirement. Volunteering offers new challenges, fresh perspectives, and emotional rewards. It has been shown that older adults who volunteer report greater life satisfaction, lower depression rates, and even improved cognitive abilities.
• Community and connection are built through it: In most cases, leaving your company means leaving behind daily interactions, problem-solving banter, and shared goals.

The skills you spent decades building are invaluable

It’s important to remember that most nonprofits don’t need more money as much as they need leadership. Understaffed and stretched thin, many are struggling to survive. As such, in your field of expertise, budgeting, marketing, operations or strategic planning can make a difference in a way that few others can.

Take a moment to consider how your decades of wisdom and experience could benefit:

• Logistics are a problem for a food pantry. By implementing an effective inventory management system, you could reduce waste and ensure timely deliveries. Utilizing your network to secure donated transportation or negotiate better bulk purchasing agreements will enable the pantry to feed more people with less effort.
• An inefficient workflow plagues a local animal shelter. You might suggest ways to digitize records, automate volunteer scheduling or build a more seamless flow for animal care and public interaction, based on an analysis of the shelter’s intake and adoption processes. As a result, staff can spend more time on animal welfare instead of paperwork.
• Scaling up a youth mentoring program. You can help the program develop a scalable curriculum, establish a robust mentor training program or establish clear metrics for success. Using your growth strategy experience could help them reach more young people.
• Branding or fundraising assistance for a startup nonprofit. In addition to helping them develop a resonant brand story, you could also provide advice on digital marketing strategies or help them structure their fundraising appeals to attract major donors. The insight you can provide into market positioning and investment pitches would be invaluable.

Ultimately, you can help organizations avoid mistakes you made in your early years and empower them to grow sustainably.

How to start giving back (without overcommitting)

Volunteering is often resisted by driven professionals who worry it will consume their time or feel like busywork. Here’s how to avoid it”

Start with your “why”: What causes are most important to you? What type of work energizes you? Would you like to use your business skills or try something completely different? When you clarify your why, you’re not just filling your time; you’re aligned with your purpose.

• Test the waters before diving in: If you’re interested in joining a board long-term, consider starting with a short-term project or advisory session. Many nonprofits welcome trial contributions. By doing so, you can gauge whether you’re a good fit for the company’s culture.
• Use your network: Most likely, you know someone who is involved in a nonprofit or civic organization. So, don’t be afraid to ask around.
• Look for the right fit: Look for organizations that respect your time and value your expertise. If someone just wants your name on a letterhead or hopes you’ll write a big check, stay away from them.
• Stay in your zone of genius: Unless you want to, you don’t need to reinvent yourself. Consider streamlining systems if you have experience in operations. Put what you already know to good use.

High-impact ways to contribute

There are many ways retired entrepreneurs can give back, each with varying degrees of involvement. The following are some popular ways you can give back:

• Mentorship
• Nonprofit board work
• Skilled volunteering
• Direct service
• Micro-volunteering

Whether you have prior nonprofit experience or not, you can still put your strengths to work. In return, here’s what you’ll get;

• A renewed sense of purpose
• Deep emotional satisfaction
• Continued personal growth
• A new circle of peers and friends
• A meaningful legacy

In the end, many entrepreneurs find that giving back fills a more profound need than a round of golf or a vacation to the beach. As a result, it becomes a second act — not just in life, but in impact.

Final thought: From success to significance

You don’t have to fade into the background when you retire. Throughout your career, you built something that mattered. Now, you can apply that same drive to something even more meaningful: helping others.

Volunteering isn’t just about giving your time away. It’s about investing it where it counts.

So if you’re feeling restless when you retire, maybe it’s time to hang up the clubs for a bit and ask a new question: Where can I make a difference today?

Quick resources to get started

• VolunteerMatch.org — Find causes that match your interests and skills
• Score.org — Supporting small businesses and startups
• Local community foundations or United Way chapters
• Incubators or nonprofits focused on specific industries

For many ex-CEOs and founders, swapping 60-hour weeks for leisurely days sounds good until the novelty wears off. Even though golf, travel and downtime are fun, they don’t seem to have the same sense of purpose as their careers. After all, retirement can feel quiet after decades of managing teams and solving high-risk problems.

It’s for this reason that a growing number of retired entrepreneurs are finding unexpected fulfillment in soup kitchens, classrooms, nonprofit boards and grassroots missions. Giving back isn’t just noble — it’s also deeply satisfying and surprisingly energizing.