Traditional retirement is no longer fit for purpose. The idea that we should retire from life the moment we retire from work just no longer applies when so many of us aged over 50 have so much to give.

It may have been applicable for past generations to take it easy once we reached a certain age. No more!

As of today, as a generation, we’ve never been more healthy, more wealthy, enjoyed so many favourable demographic trends nor faced so few social barriers that stop us from doing exactly what we want.

We’re spoiled for choice about how we use our decades of good health. We can continue to stay in our job past the traditional retirement date; we can start a business, or we can volunteer for our favourite charity.

Another option is to join or create a social enterprise. But what’s a social enterprise?

Justin Hogg from Right Source is here to set us straight. The information he offers in this video is very, very basic, but it’s start for anyone interested and adds social enterprise as one of our Switched ON options.

The first thing for us to know is that the terms ‘social enterprise’ and ‘not-for-profit’ are not interchangeable.

A ‘not-for-profit’ is just one type of social enterprise, but there many other legal structures where the enterprise exists to support a social good.

The most useful part of Justin’s discussion is where he tells us to contact the Australian Taxation Office and the Australian Charities and Not-for-Profits Commission (ACNC) early in our preparations so that we create the correct legal structure for our new venture.

He also warns us about the extra cost and administration we’ll face complying with ACNC rules to maintain our tax-free status, including having to appoint a board of directors.

But these are minor obstacles for anyone with a true passion to use their time and their talents to right social ill or serve a community that needs help.

It’s hard to think of anything more Switched ON than operating a social enterprise.