Basics

There was a time not so long ago when 65 meant life was winding down. But no longer. While many people still retire at or around age 65, nearly half do some type of paid work after retirement. Advances in medicine and technology have extended our life expectancy well beyond 65, and have motivated legions of older adults to pursue second careers.

 

For some older adults, a second career offers a way to add to the financial legacy they'll leave behind. Others may seize the opportunity to launch careers that always interested them but didn't pay enough when they were raising a family. Many people continue working simply because they can't get by on Social Security alone.

 

People choose second careers for other reasons, too:

• A renewed sense of purpose
• The chance to meet people and make friends
• To explore a career path they always wanted to try

 

As eager as you may be to take on a second career, first consider the impact a second income may have on your Social Security payments. If you've retired early, additional income can decrease your monthly benefit – although you'll still earn more than you would from just your Social Security checks. After you reach what's considered your "full retirement age" (65 to 67, depending on when you were born), you can earn as much you like and still receive full benefits.

 

However, if you haven't yet started receiving Social Security payments, your second career may actually boost your eventual benefits. That's because they'll be based on your 35 highest salary years.

 

Choosing your next career

Your options may be broader than you realize. The second time around, older adults often structure their work lives more to their liking. So you can choose the type of job, workload and schedule that suit you. Take these folks, for example:

• After 28 years in restaurant chain management, Steve retired and purchased a franchise of his own. He could now apply what he had learned to his own business.
• Spurred by her daughter's complaints about finding adequate childcare, Susan took a job at a local daycare center. A far cry from her 22-year career as a telephone company executive, the job didn't pay much, but she wasn't doing it for the money. This time around, she knew she was filling an important need. And she liked the daily charge she got from all those lively toddlers.
• Robert quickly grew bored watching TV and taking it easy. Despite 35 years in a day job, he'd always been a night person. So he signed on for part-time work in the wee hours at an all-night pharmacy. He enjoyed both the extra income and the chance to meet neighborhood people he never would have met before.

 

As you consider what you'd like to do, let your thoughts wander far beyond the usual. With the freedom most retirees enjoy, you'll have time to experiment. If something doesn't work out, you can always try another path.

Key Tips

Key Tip 1

Making any kind of change when you've reached retirement age can seem unsettling. You may feel that no one will need or appreciate your skills. But more and more employers are recognizing the wealth of experience and enthusiasm mature workers offer. You bring qualities that are unique to people with your experience, whether your career was centered inside or outside the home:

• Competence – you have years of training and experience
• Productivity – you've got a proven work ethic
• Adaptability – you've been dealing with change and learning new skills for decades
• Responsibility – you understand the importance of dependability

 

Key Tip 2

A second wage can affect your Social Security benefits. More income may help you if you haven't yet started collecting checks. But if you retired before your official retirement age (65 to 67, depending on when you were born) and already receive Social Security, your benefits will likely be reduced.

 

Key Tip 3

If you'd like some help deciding what career is right for you, or how to develop your resume and find a job, try a local college. Many offer career counseling and classes for adults seeking a second career. Besides personal counseling, you can take written tests, such as the Myers Briggs Type Indicator or the Strong Interest Inventory, which can suggest careers that would suit you best.

 

Specifics

Finding the Perfect Match

Remember how wide open the world felt when you were a kid wondering what you were going to be when you grew up? It's that way again. Take yourself back to those dreams – and dream some new ones. Set aside a few hours to brainstorm about these questions (and make sure you record your answers):

• What have you always wanted to do, but haven't?
• What did you like most (and least) in your previous career?
• How would you like your second career to be different?
• What are your strengths?
• If you could do or be anything, what would it be?

 

Indulge your interests.

Would-be chefs might find work with a local catering service. An animal lover might thrive as a vet's assistant, or by offering a dog-walking service.

 

Your answers give you a starting point for your research, which you can do on the Internet, at the library or through a career counselor. You don't have to define a particular job at this point, but try to zero in on a field. Colleges often have counseling centers that will test for your interests, skills and personality.

 

Once you've selected an area of interest, answer these questions:

• What are your financial needs?
• How much time do you want to spend working?
• Do you have the skills, education and experience needed for this job?
• If not, what would it take to acquire them?

Use this second set of questions to narrow your choices: What's realistic for you, physically and mentally? If maximizing your income is a factor, map out a long-range financial plan. Part-time work, if it's financially feasible, may be less stressful. And you'll have more free time to explore new interests.

 

Doing What Comes Naturally

You may prefer to choose a new career that's much like your old one. Using a skill you already have might be the best way to earn a good income. Look for related industries, if you don't want your job to feel too familiar. A librarian might work in a bookstore, for instance. Or you might tap the experiences you've gained through hobbies, choosing to parlay your gardening skills into a job at a botanical garden or local nursery.

 

Landing a Job

Don't hesitate to use existing contacts or visit a career counselor. Networking pays off in the business world, and it can work when you're retired, too. When you apply for a job, make sure your resume shines by consulting a professional, or using Internet resources or the library for advice on how to prepare it.

 

Maybe you want to work for your local hospital, but you're not sure what you'd like to do. Volunteering or taking a temporary position can help you determine whether you're cut out for the pace of the information desk or the intensive care unit.

 

Sharpening Your Skills

If you're not qualified to do your dream job, it's not too late to get the training or degree you need to reach your goal. Most colleges and universities welcome older students, in many cases offering courses free or at reduced rates. Some have lifelong learning programs, organized as in a college format but intended for older adults. College classes, as well as distance-learning programs through books, tapes, or the Internet, offer you a low-risk opportunity to try out new ideas. If designing Web sites has always appealed to you, or you've always wanted to be a marine biologist, take a course in Web design or oceanography and find out what it's like.

 

Feeling technology-challenged?

Local colleges and adult evening classes offer plenty of computer training classes, some of which are tailored to older adults. Even some employment agencies offer free computer training for their clients. In addition, online courses can be a great resource for people who want to sharpen their skills in a variety of areas.

 

Who's the Boss?

Many people dream of starting a business because they've always wanted to be in charge. It's easy to forget that the boss has to do a lot of work, especially when she's self-employed. If that thought doesn't scare you off, the opportunities for a home-based business are vast. You could do consulting work, manage a corps of traveling housecleaners or build birdhouses. If you'd like to offer neighborhood services, check your local paper and online to check out the competition.

 

Franchise opportunities abound, as long as you have money to invest up-front. But remember that operating a fast-food restaurant usually demands far more than a 40-hour workweek.

 

Or let serendipity guide you. One woman delighted friends and family with gift baskets reflecting what she knew about each recipient. The responses she received were so effusive that she went commercial. With a few well-placed newspaper ads, word-of-mouth and a website, her former hobby evolved into a rapidly growing full-time business.

 

Your options are as broad as your interests and skills. Here are just a few more to get your juices stirring:

• Freelance writing about your hobby or expertise
• Home repair, painting or wallpapering
• Delivery or messenger services
• Secretarial and bookkeeping services
• Baking desserts or catering
• Repair or fix-it service
• Interior decorating
• Baby-sitting or pet-sitting
• Shopping for the housebound
• Event and party planning
• Gardening, landscaping or lawn care

 

FAQs

I like the idea of earning some income during retirement, but I'm having trouble finding part-time work. What should I do?

Part-time opportunities are less likely to be advertised. Make a list of places where you'd like to work and call them to ask about openings. Delivery services often hire part-time drivers. Or look for something in your field of interest. Perhaps you could work a few days a week arranging flowers for a floral shop or staffing the pro shop at your golf course. Temporary employment agencies allow you to pick the days and times you work and try a variety of employers.

 

I have to retire from a job I've had for a long time. But I feel great, love my work, and don't want to stop. Won't it be hard for someone my age to find work?

Many businesses don't enforce a retirement age and are eager to hire someone with a lot of experience. Update your resume and seek out such employers. Temporary employment agencies may be the way to get your foot in the door. Employers often offer full-time, permanent employment to someone who successfully fills a temporary position.

 

Your program is here to help you along the journey of life. No situation is too big or too small. When you and your household members need assistance, reach out anytime and we will help get you on the right path to meet your needs.

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