Retirement Entrepreneurs Blog

Comments, rants and tips on baby boomer small business ideas
and working after retirement.

Author: Ingvar - Retiree In Training  

Working after retirement

You might consider a part-time job or self-employment after retirement.

A recent study of over 2,000 50-70 year olds who work part or full time (or are self-employed) why they do it. The need for money was definitely the primary answer. But the need to stay mentally active was also important to many. The study also shows that people intend to work a lot longer than ever before. Some people still work at 75 (I know a couple right here in Vancouver). That's amazing.

Aside from those two motivating factors, there are other considerations you should keep in mind.

The sense of community can be important after leaving a people-full job. Many find it very hard to leave the social part of working. Health insurance can play into it if you get a part-time job with benefits.

On the negative side, there are some cons in working after retirement. Age discrimination is one that comes to mind. Some employers might be biased against people that might have been out of the workforce for a while, or is seeking employment outside their career field. They might thing that it would be harder for an older person to get up to speed.

Less leisure time is a big factor that you should consider. I guess it's a balance between wanting/needing the extra money and losing some leisure time. But with some good planning it is desired to do both! You can make some extra money and have the time to spend it.

It is very likely that your new job won't carry the same status, pay and prestige as the job you left.

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