Working in Your Retirement Years: Is it Worth it?
Posted by Donna Mae Scheib on April 11, 2018
Working in Your Retirement Years: Is it Worth it?
What is commonly noted about American culture compared to other cultures around the world is that its citizens have a more ‘live to work’ mentality rather than ‘work to live’. For those over the age of 65 and who have just spent most of their adult years in the workforce, retiring may be a hard lifestyle to adapt! Those at retirement age and beyond should take a moment to consider their current financial situation, retirement savings plan, and how they would like to spend their time during their retirement years.
Reasons Seniors Stay in the Work Force
1.You love what you do- If you have dedicated yourself for a lifetime within your profession, it may not be a difficult question that if you love what you do, you want to continue your work if you are able. Perhaps a good question to consider is if you have other passions or desires in life, that taking on a part-time position in your workplace will allow you more time to commit to things such as spending time with family, travel, and further pursuing hobbies.
2.Financially, it’s a must. Not everyone has a significant amount of retirement savings and a paycheck is important. If you want to obtain more flexibility of hours and location during retirement, consider searching for a work from home position. On average, remote workers are 45 five years and older and with the increasing availability and affordability of technology, remote work is a highly desired commute option among workers. Seeking remote work within your current employment or using a search engine to find work are two easy ways to begin your job hunt.
3.Delay of Social Security Benefits- Social Security has two different options when you reach your full retirement age. You can continue to work (or stop working) and start receiving your full retirement benefits, or you can continue to work while delaying when you will start to receive your retirement benefits and receive credits towards receiving a higher monthly benefit check in the future.
4.Stay Physically and Mentally Active- Staying physically and mentally active the older we get becomes increasingly important because if you don’t use it, you lose it! Without the accountability and paycheck that comes with a work environment, finding ways to keep yourself physically and mentally active during retirement may be difficult for some. It is good to live with a sense of purpose and while it is possible to live with purpose without employment, others may struggle with motivation and keeping a job provides a comfortable framework of staying active.
10 Job Ideas for Seniors
Perhaps you have made the decision to retire from your long-term career but still would like to have a supplemental income to support your retirement or even just a way to volunteer and spend your time. Here is a list of ideas that can be great options for seniors in retirement!
- Childcare: If any family members or neighbors have children that need to be watched for a part of the day or a day of the week, this could be a great option to spend time with family or make some cash.
- Car Sharing Service: If you have a car, you can use it to make money by signing up with a company like Lyft or Uber to give people rides to their destination. This is a good option if you live in a more populated area with events or a bigger airport.
- Use your Hobby for Income: Create a website or use social media to sell products or services that you create such as metal work, sewing, or woodwork.
- Contract Work: This is a great option for someone established in a field. Return to your field with expertise and work for short or long durations of time as a contract worker.
- Customer Service: This field offers a multitude of options that often have flexible hours and makes it easier to take time off.
- Tour Guide: Get involved with your local museums and other city attractions and spend your work hours sharing knowledge with others.
- Park Ranger: Local, state and national parks all need help maintaining on-site locations and directing traffic flow during busy tourist seasons. Serving as a receptionist, park entrance attendant, or working in the gift shop are all a few ideas within this field for seniors.
- Bus Driver- With morning and afternoon hours and weekends off, bus driving for your local school district is another good job for senior citizens.
- Coach- If you have a passion for sports or helping youth programs, consider getting a coaching certificate to coach a seasonal activity.
- Event Worker- Check out your local event center to find temporary work in concessions, the ticketing office, or if you hold a paramedic license, you could work as on-call support for the event.
Is Working Worth it?
Ultimately the decision remains up to you. Many seniors don’t have the option to decide and must continue to create an income while others have more flexibility. There is always the option to try both and see which lifestyle works best for you! Taking a break from the workforce provides a good change and time for reflection, and even gives you a chance to think of any new jobs or activities that you would like to pursue during your retirement years.