Working after retiring is something that in our youth as
newcomers to the working world, we would have never considered.
By Eric Heckman
Working after retiring is something that in our youth as newcomers to the working world, we would have never considered. The fact is, however, many are finding it harder to live off of their Social Security income, pension and even their other investments during retirement. According to a survey done by Merrill Lynch, 75 percent of American Baby Boomers think they will end up working during retirement. Research has shown that those who cycle through work, rest and recreation and education have a better chance of fulfilling their financial objectives, than those who don’t.
If you are considering joining this group, focus your search on a job that will match up to your hour, financial and intellectual interest requirements. The process of finding a job after retirement can be intimidating and frustrating. This is why John Doe, president of John Doe and Associates, has developed a list of seven steps people can follow to ease into the process.
1) Evaluate if working will penalize your Social Security. If it will affect your Social Security, it might make more sense to wait until you turn 65.
2) Evaluate if working will affect your pension.
3) Decide what type of job you would like to pursue. Your new job should be an enjoyable and fulfilling experience.
4) Make sure you have an idea of your expectations. Do you want something to keep yourself busy forty hours a week or do you want to work part-time with the flexibility to enjoy grandchildren, hobbies and the freedom to travel?
5) Prepare for your interview. Research the company and the person who is interviewing you. Take it just as seriously as you would an interview for a career job.
6) Decide why you want to go back to work. Is it because you need extra income fast? If so, consulting for the field you worked in previously can be project-based and pay well. Are you working to keep yourself busy? Find a fun working environment with social individuals. Are you considering a philanthropic endeavor? Think about volunteering. A great Web site to check out is www.idealist.org.
7) Be wary of age discrimination. According to an AARP study, 30 percent of respondents said that age discrimination is a reality. According to Susan Allan of Senior Employment Resources, small business and non-profits are known to hire retirees even in tough economic times.
No matter what your reasons for working during retirement, remember you have come a long way to get where you are now. Demand respect and dignity. Follow these tips and you should be on your way to a new job in no time!
Eric Heckman is president of Heckman Financial & Ins. Contact him at www.WealthCreator.com or 297-9800.
