Many of us are nearing the magical date of retirement. That might mean you’ve accumulated thirty years on the job or have hit “the number” in your retirement accounts. Or perhaps you’re nearing a particular age, such as 60, 62 or 65, when you can begin drawing on various sources of retirement funds.
But it’s difficult to know when you are truly ready to retire. Sometimes it makes sense financially to retire and lock in a pension. But often that’s not enough money to get by, even when combined with your savings. Other times, money isn’t the issue, but you realize that you’ve worked every year of your adult life, and you want to change to some other sort of activity to keep things fresh. You might want to do something more fulfilling, or join an organization that makes you happy to be a part of it.
Most of us know a retiree who, after a year or two, discovered that retirement is not all it’s cracked up to be. Without the driving requirements of their old work-a-day lives, they find themselves bored, out of the loop and lacking fulfillment in their daily life. Sadly, if nothing changes, the retiree often becomes inactive and soon health begins to decline, both mental and physical.
A sense of involvement in a community or organization can help you feel better overall. Taking on work (including volunteer work) in retirement can prevent boredom and help you feel included and like you are doing something meaningful with your time. Here’s how to tell if work would be a valuable addition to your retirement years:
The many benefits of work. Think about why you are considering working in retirement. It might be because you need extra funds for your retirement accounts or living expenses. But work also provides fulfillment, intellectual stimulation, a feeling of being included and even just a reason to get out of the house. These social benefits can be as valuable as a paycheck to many retirees.
Look for flexibility. Retirees might want to include lifestyle considerations in their job search. You could choose to work year round or only seasonally. You might want to work around your plans for traveling. Some companies, such as Home Depot and CVS, allow you to split your job between two different stores. For example, if you want to work for the same company in Wisconsin in the summer and Phoenix in the winter, some companies can make arrangements like this.
Think about your dream job. Try to imagine the best possible work scenario. It may be a job that provides health insurance and retirement benefits, or perhaps you want flexibility of schedule so that you can make it to your grandchildren’s activities. With a goal in mind, it will be easier to think of the possibilities for your retirement job.
Enhance your skills. No matter what type of job you choose, there are a couple of things that you’ll want to make sure you do to prepare yourself. Keep your technology skills up to date. If necessary, take a course at your local community college to update your skills for the intended job. This is especially important if you’ve been out of the job market for a while.
Manage your expectations. Nothing happens as quickly as we envision. Don’t get discouraged if your first forays don’t immediately pan out. Depending upon your job goals, you may need specialized training, and this could take a while to accomplish. The first job you try may not end up being your ideal retirement career.
Learn to network with others. Networking is a learned skill which can be difficult for some folks. But it remains the single best method for finding job opportunities. There are many ways to learn about networking, but eventually you have to just get out there and do it. Start with your current circle of acquaintances, letting them know that you’re looking for opportunities for new experiences. See where it takes you.
A long career in one field doesn’t necessarily mean you should do a similar job in retirement. Retirement can be a time to switch roles into a job that suits your interests and leaves you with ample leisure time. You’ve earned the right to be happy with your work.
Jim Blankenship is a certified financial planner who blogs at Getting Your Financial Ducks in a Row .
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How to Find a Retirement Job originally appeared on usnews.com
