Retirement jobs are a hot topic. The retirement landscape has been transformed by the re-employment of retirees. And it started even before the first waves of Baby Boomers reached retirement.
There are several reasons for the popularity of retirement jobs:
In this section of Retirement Planning Central we will discuss your options when considering a retirement job.
Volunteering is any voluntary involvement. From a few hours per week at your local church or community center to a full time assignment overseas.
Volunteering does not earn you an income. At best some direct costs are refunded, but in most cases you carry the cost of your involvement.
However, the rewards of volunteering are not monetary. It is the chance to dispense Grace - which you so abundantly received - to others who are less fortunate.
Every developed country in the world has several volunteering programs. One such a venture in the United States of America is Civic Ventures and their Experience Corps program. If you click on the hyperlinks the pages will open in a new window.
Many retirees continue their education or re-qualify for a retirement job or a new and different career.
I recently met a guy, well into his seventies, who is running a thriving construction company. He was a qualified land surveyor and soon after he retired he realized that his retirement provision was not going to last his lifetime. He attended a couple of classes on the basics of brick laying, construction, plumbing, roofing, and decorating.
He started with a small project and soon found that many of his competitors – who had been in the business for decades – took short cuts and didn't apply the basics of their trade in their projects. Word got round and he started to win larger projects. Today he can choose his projects and his construction company is the leading small construction company in his city.
According to a 2006 study by Merrill Lynch the type of work most favored by retirees as a retirement job is consulting. It is also quite logical. Typically your former employer has lost your depth of experience and knowledge when you retired.
However, this type of consulting opportunity lasts only a couple of years at most. If you were a fairly high profile expert in your field then other companies – even former competitors – would hire you on a consulting basis.
A point to note is that according to a study by Cornell University, 75% of all companies surveyed would permit older employees to reduce their hours worked rather than take full retirement. This could be a very viable option that would probably last longer than a mere consulting arrangement with your former employer.
Some of the world's largest and most successful companies are temp agencies. That means that there is a huge demand for temporary employees. Temp jobs pay well and you can structure your availability to suit your retired lifestyle.
Temp jobs are often the easy back-door to those seeking retirement jobs.
There will be one or more temp agencies in the area where you are located. It is estimated that more than 25% of temp jobs turn into full-time employment.
Full time jobs
Full time jobs for seniors are more readily available than at any stage in our life time.
I find it amazing that so many of our friends and former colleagues are still in full time jobs. I recall a time in the early sixties, while I was a student, when the agony was reported of academics, teachers, civil servants, and office workers who had to retire.
If you seek a full time job, the strategy that seems to work best is to register with temp agencies in your area. In this way you get to 'try-out' prospective employers with exposure to staff and management. When you decide to target a particular employer for full time employment, this exposure weighs heavily in your resume.
Per definition self employment is where you have no employees other than a spouse. It is probably the most flexible of all senior jobs.
When our dishwasher broke down, I observed the perfect example of retirement self employment. I checked the Yellow Pages and phoned a number that advertised domestic appliance repairs. A lady took my details and a few hours later a gentleman called back to make an appointment for the next day.
He arrived the next day on time – a well groomed elderly gentleman. His vehicle was a fully equipped workshop. The dishwasher was fixed in no time. He was clearly highly organized.
He explained that he was the service manager for a large appliance distribution group when he retired. After a few months in retirement he grew restless, and started to advertise in the local newspaper. His wife answers the phone and he makes the calls. They limit it to four or five calls per day.
He is enjoying the work, meets new people everyday, and he is earning enough to leave his pension income untouched.
A self employment business is usually run from home. I discuss on a separate page the topic 'Your Business at Home'.
Starting your own business is a very alluring option to retirees. However, in starting such a venture you don't want the business to bring you back to pre-retirement stress levels!
If the business you start is in a field that you know well, your chances for success is high. If not you need to do a lot of research and possibly get some further education.
I observed some friends and former colleagues who bought franchises. I have not observed one success story yet! To the contrary, in several cases it lead to financial ruin.
It is my opinion that Multi Level Marketing, or MLM, ventures are better left alone. Only a few very energetic and hard working souls make a success of it.
Here are more discussions regarding retiree jobs:
An opportunity in retirement is quite real. You just need to look for it! Let me discuss some possibilities to help you find your own opportunity in retirement.
Retirement employment stories never fail to amaze me! The ingenuity of retirees is alive and well.
Your business at home is probably the only retirement job option that makes perfect sense.
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