There is an old Jewish saying, “Man plans, God laughs.” This is a shorthand way of saying that no matter how well you plan your retirement, something may have gone awry and you may need to earn a living after retirement. This could be because your expenses are higher than you had calculated or you have discovered that your retirement income just isn’t what you thought it would be for some reason.
The good news is that your only choice isn’t just to hand someone a cart and say “Welcome to Walmart.” There are a number of good income opportunities that seniors can choose from. Some even come with the possibility for meeting new friends and learning new skills.
How to get started supplementing your retirement income
First, take a good hard look at what you need in the way of income so you can determine whether you should or full-time or just part-time. You will need to calculate your monthly budget and determine how much extra you would like or need to earn. You can also determine whether or not you can work for yourself, or if it would be better to find an employer — given your needs and financial commitments.
One good alternative is to find ways to make money without actually having a job. You could sell some of your belongings online or at a yard sale. Do you have extra chairs or a sofa stuck away in storage that other people might consider to be retro-chic? Just go through your attic, heck, you’re sure to find stuff you no longer are using that you could sell. There are probably consignment stores somewhere in your area where you could sell outdated clothes (some people might think of them as retro), furniture or that set of dishes you never use anymore.
Sell your skills
You’ve worked a lifetime of jobs and have developed many skills and talents. You should be able to leverage them into a new career. For example, if you were great at market research, preparing taxes, or child care, you should be able to offer these skills for a fee.
How about becoming an online business person? You could sell your own creations on your own personal website. Thousands of people are sitting in front of their computers right now earning good money. In fact, some are earning literally hundreds of thousands of dollars a year. Besides selling your own creations, you can become an affiliate marketer and sell just about anything you can imagine. For example, you can become an affiliate of Amazon.com, the largest retailer on the Internet, and sell its merchandise. Even Walt-Mart has an affiliate program so you could sell all its items. If you have stuff around the house that you think is really valuable, put it up for sale on eBay.
To work for an employer
If you feel your best bet is to get a job with an employer, don’t just look at newspaper classified ads–which have become almost obsolete anyway. Instead, go to online listings and job boards such as monster.com. Also, be sure to check out the websites of temporary employment agencies and even community bulletin boards.
You will need to brush up your resume and aim it specifically at the job for which you are applying. Nothing turns off an employer any faster than a resume full of “boilerplate” that shows no experience or skills that would be relevant to the job being offered. And when it comes to skills, make sure you’re not listing stuff that went out of fashion 10 years ago. If you’re applying for a computer-related job, it might be great that you’re proficient in DOS but who will care? Regardless of what kind of job you’re seeking, you will probably need computer skills of some kind so if you don’t have any, you better find some way to acquire them.
The good news for seniors
When the economy starts to recover and grow again there will actually be a first-ever labor shortage. In fact, companies will soon be looking for skilled workers. Every day, thousands of baby boomers retire. There are 77 million of them and only 44 million of the trailing Gen Xers. This puts older workers in a position to not only get jobs but to set some of the rules. For example, you could stimulate to that prospective employer that you want to telecommute, work only part of the year or work just part of the day.
Finding a job as a Baby Boomer
You may need to talk to a career coach but talking to longtime business contacts and friends might be just as effective a way to find a job. You have reached an age where who you know can be as important as what you know. For that matter, you might reconnect with previous employers. These companies will know your work, your skills and your work ethic. They may be happy to get you back on some part-time or project basis. The AARP also publishes an annual list of the best companies for workers over the age of 50 in its Modern Maturity magazines fall issue.
These are just some possibilities to help you earn a living after you retire to supplement your pension or Social Security. You could also consider moving to a cheaper location. Discover the 10 best places to retire.