Are you close to retirement and wondering what you’ll do once you reach this milestone?
While it’s common for retired workers to decide to remain retired and leave the workforce permanently, many older workers either want or need to continue working so they can supplement their income. However, finding a job as a worker aged 65 and up isn’t always easy.
Let’s explore how to find a job after retirement, how to overcome common job search challenges for older workers, and look at some of the best career options for retirees looking for more work.
When you reach retirement age, social security will provide you with income. That’s because you pay social security taxes during your years in the American workforce.
By paying those taxes, you gather credits so that you can become eligible for social security benefits when it’s your turn to retire. You’re considered retired when you start receiving your social security benefits or when you decide to retire at an earlier age with your own source of income.
Currently, the retirement age in the United States is 67 for those born on January 2, 1960, or later. That means you’ll only be eligible to receive your social security benefits once you hit the age of 67 if you were born in 1960 or later.
If you worked for a company that provides retirement pensions, you’d be eligible to receive those benefits in addition to your social security benefits. Many companies offer pension plans for employees who spend a minimum number of years working for them (for example, 20 years or more).
You can also use your retirement funds to supplement your income. Some examples of retirement accounts include 401(k) plans and IRA plans. Employers typically sponsor 401(k) accounts.
You’ve worked hard and paid your taxes to reach retirement age — so why should you consider getting another job once you’ve finally retired?
If your finances allow it, you can always retire. But there are several reasons Americans choose to get full-time or part-time jobs after retirement.
A study on the outlook of US workers for retirement shows how Americans are prepared for retirement. 53% of workers expect self-funded savings to be the main provider of income after they retire. Self-funded savings can include an individual retirement account (IRA) or employer-sponsored retirement funds, like a 401(k). Many people also have a portfolio of investments that provides them with dividends.
But not everyone can afford to put money aside in an investment portfolio or IRA account, and not all employees have employer-sponsored retirement benefits. This study shows that only three in four workers have access to these types of plans.
Additionally, 34% of workers have dipped into their retirement savings before retirement, which can severely impact their ability to retire comfortably. So even those who do have a retirement fund may not be able to rely on it to live comfortably without a job.
48% of workers agree that they don’t have enough income to save for retirement.
This is one of the main reasons 57% of workers plan to work during retirement. However, money isn’t the only reason retirees want to find new jobs.
54% of workers who plan to continue to work after retirement say they’re doing it because they want to stay active. Other reasons for working after retirement cited by workers in the study include:
Keeping their brains alert
Enjoying their work
Maintaining social connections
It’s important to remember that working after retirement will affect what you can withdraw from social security if you retire before your full retirement age. This affects people under 67 years old and who were born in 1960 or later.
If you’re at full retirement age or older, you can work and keep all your benefits. But if you’re younger, you’ll lose $1 of your social security benefits for each $2 you earn over $19,560.
You’ll also receive more social security benefits if you make more money during your later years of retirement. So if you receive a raise when you’re 62, that raise will have an impact on your benefits when you retire. That’s because you’ll be paying more in social security taxes.
If you’ve decided that working past the age of retirement is the best choice for you, here’s how you can increase your chances of getting a job after retirement.
Retirement is your chance to do something new with your career. Because you’ve retired from your previous job, you have a chance to go in a different direction.
Think about what you want for your post-retirement career. For instance, do you want to work full-time or part-time? Would you prefer to work alongside your colleagues and commute to work, or would you rather keep it more relaxed by working from home? Do you want to keep working in the same field, or are you excited about making a career change?
Once you know the answer to these questions, you’ll be better equipped to start your job search. With all the possibilities available to workers, it can be difficult to focus when you don’t know what you want yet.
So now you’ve decided what you want to do. Do you have skill gaps for the work you want to undertake?
If so, consider developing those skills to give yourself an edge as a job candidate. If you’re already retired, you can take free online certifications or ask someone you know who may have these skills. If you’re starting a new trade, consider enrolling in a trade school.
If you’re not retired yet, find some ways to develop those skills at your current job. You can ask your manager for more responsibilities or express your interest in developing these skills.
Another option is to contact colleagues who have these skills and ask them to mentor you. Many people are proud of the work they do and will be happy to show you the ropes.
If you’ve worked throughout your entire life, you likely know several people from your previous jobs. One of the advantages of reaching retirement age is having a strong network.
Reach out to the people you know to let them know you’ve retired but are still looking for a new opportunity to put your skills to work.
You can also invite old connections to catch up over lunch or coffee and bring those old connections back to life. Avoid asking them for a job while you rekindle. Instead, keep the conversation natural and simply use this time to find out what’s been going on with them. You can mention your intention to work after retirement when they ask about what’s new with you.
You can find job listings near you by using the Jobcase job searching tool.
Go to jobcase.com and click on the “Jobs” tab at the top of the page. Once you’re on the Jobs page, search for the job title or keyword and hit “Search.”
Look through the listings to see if anything catches your eye. Make sure to bookmark any listings that interest you.
While in the search results, you can even choose remote-only options if you want to work from home.
You don’t have to list your entire work history on your resume. If you do, you may face age discrimination from potential employers.
However, you can age-proof your resume by only adding the past 15-20 years of work history. You can also remove the dates on your education history.
But what if your very first job is the most relevant for the new opportunity you’re applying for? If that’s the case, consider instead removing employment dates and specifying how many years you worked at that company. You can specify the employment dates once you land an interview.
If you’re at retirement age or older and attend a job interview, hiring managers will probably ask you if you intend to retire.
Think about your future and how long you see yourself working. Do you intend to work for an undetermined amount of time, or do you only want to work for the next five years?
Let recruiters know you still want to work for many years if that’s what you intend to do. If they assumed you’d stay around only for a year or two, this will correct their assumptions.
Do you need inspiration for what to do after retirement? Here are seven low-stress jobs that you can do on a part-time or full-time basis:
Tutoring is a great gig if you want to be self-employed. You can use your lifelong skills and pass them along to someone else.
As a tutor, you can work online or in person. You can also make your own hours and create your own schedule.
Tutors make $20.09 per hour on average.
The amount of income you can make with ridesharing or delivery apps varies significantly depending on several factors, including:
For which city you’ll provide the services
What type of vehicle you have (a car that consumes less gas will allow you to make more money for the same amount of time worked)
What times you’ll provide the services (many apps have surge fares during times of high demand)
How often you provide the services
Ridesharing or delivery services allow you to work at your own pace and decide when you’ll work as you go. So, if you’re having a difficult day, you can skip work.
If you have a passion for history and know your area well, you can work as a tour guide. You may need to take additional training depending on what type of tour guide you become.
Tour guides make an average of $15.96 per hour.
Many retail stores employ greeters to welcome customers. This is a great option if you enjoy working around other people and interacting with the public.
Greeters are a type of retail worker, and retail workers make a median wage of $14.03 per hour.
Becoming a pet sitter or dog walker is another great option if you want to be self-employed, especially if you like dogs. You can stay active by walking people’s dogs or offering boarding services.
Pet sitting involves more responsibilities than dog walking, but it can be more lucrative. However, if you only need a bit of side cash and don’t want to get too involved, dog walking is a great option.
People who work in the animal care and service industry make a median wage of $13.81 per hour.
Don’t want a job that’s too active or physically demanding? Becoming a library clerk is ideal if you love books and want to work in a quiet environment.
To become a librarian, you usually need a Master’s degree in library science. But you can still work in the library as a front desk clerk or assistant and make an average wage of $15.62 per hour.
Work with kids and teens at your local school as a sports coach! This part-time gig is ideal if you have a passion for a specific sport, like football or basketball.
Full-time coaches make an average of $50,550 per year, which is equivalent to $24.30 per hour.
If you want (or need) to work after retirement, you have plenty of options available to you. You’ll find more job opportunities by connecting with like-minded workers and retirees to learn from their experience, which you can do by joining Jobcase. Create your free account to start building your network and looking for your ideal retirement job today.