Second Acts: The Maltese Boomer Boom

Imagine this: you’re 58, you’ve just been made redundant, but you’re not ready to hang up your boots just yet. This isn’t a distant scenario for many Maltese boomers. According to the National Statistics Office, the over-55s unemployment rate has been climbing steadily. But instead of calling it a day, many are choosing to rewrite their scripts.

Malta’s Silver Surge

Meet Joe, a former IT manager from Msida. He was made redundant last year, but he’s not ready to retire. “I’ve enough money to retire comfortably,” he says, “but I don’t want to. I still have so much to offer.” Joe is part of a growing trend of Maltese boomers who are choosing to stay in the workforce, either by finding new jobs or starting their own ventures.

This trend is being driven by a combination of factors. The island’s economic boom has created new opportunities, while the rising cost of living means many can’t afford to retire. But it’s also about attitude. “We’re seeing a shift in mindset,” says Dr. Maria Attard, a senior lecturer in sociology at the University of Malta. “Boomers are more active, healthier, and they’re not ready to stop learning and contributing.”

New Careers, New Challenges

For some, like Antoinette, a former HR manager from Birkirkara, it’s about finding a new career path. She’s now studying to become a life coach. “I’ve always been interested in personal development,” she says. “Now I have the time to pursue it.” But it’s not all smooth sailing. “It’s challenging,” she admits. “I’m learning new skills, making new contacts, and it’s daunting at times. But it’s also exciting.”

Others are choosing to start their own businesses. Michael, a former marketing manager from Sliema, started a digital marketing agency last year. “I saw an opportunity,” he says. “I have the skills and experience, and I knew I could make a success of it.” But he warns, “It’s not easy. You have to be prepared to work harder than you ever have before.”

Supporting the Silver Surge

While many boomers are embracing this new chapter, they’re also facing challenges. “Ageism is a big issue,” says Dr. Attard. “Many find it hard to get back into the workforce, or they’re offered lower-paying jobs.” But there are initiatives aimed at supporting them. The Employment Agency offers training and job placement services for older workers. Meanwhile, the Malta Business Centre provides support for new entrepreneurs.

But more can be done. “We need to challenge ageist attitudes,” says Dr. Attard. “We need to celebrate and support our older workers and entrepreneurs. They have so much to offer, and they’re a vital part of our economy and society.”

So, what’s next for Joe? “I’m looking at opportunities in the tech sector,” he says. “I’m not ready to stop learning, growing, and contributing. I’ve still got a lot to give.” And he’s not alone. Malta’s boomers are writing their own scripts, and they’re just getting started.