What is a good second career after retirement?
If you are considering working after your retirement, you are not alone.
Yes, it is quite common for people who are older than 55-60 to go back to work for various reasons and also for companies to hire them.
Well, many employers believe that senior workers have qualities like loyalty, richer work experience, and a strong work ethic that younger workers may lack.
According to studies, one in four workers will be older than 55 by the year 2024, which is double the stats compared to 1994.
Plus, in 2018 alone, almost half of the new job vacancies were filled by professionals of 55 years and older in the US.
So, what jobs are good for retirees?
Read on to learn more about the same and other related FAQs like the following:
- What are the best jobs for retirees?
- What are some part-time jobs for senior citizens?
- How to find jobs for retired people?
- What are some factors to consider before looking for jobs after retirement?
Also read: How to write a resume for a career change?
5 Best Retirement Jobs for Senior Citizens
Depending on your reasons for wanting to work after retirement, you can find plenty of job opportunities that are not constricted by a certain age limit.
So, before you decide on your choice, consider your reasons.
Do you want to continue working to stay occupied but wish to work from home? Or do you want to continue working to meet new people and travel?
Once you answer that for yourself, you can make a more suitable choice that meets your needs.
Meanwhile, the following are the top 5 jobs for retired people that not only pays well but also allows you to meet new people and travel:
Becoming an ESL (English as a Second Language) teacher is not only a great way to meet new people from different walks of life, but is also a lucrative second career that pays the bills.
ESL teachers teach English to students and individuals who are learning English as a second language.
Although not mandatory, you can consider taking up Teaching English as a Foreign Language (TEFL) certification courses to improve your chances of getting hired.
ESL teachers have the option to travel and teach English overseas or to work in local institutions and even provide private tuition.
The average hourly wage earned by ESL teachers is around $28.36 in the US.
Also read: How to write a resume for teachers?
Since more than 25% of federal workers are over 55, federal government jobs are a good option for retired people.
You can find job listings for various federal agencies through sites like USAJobs wherein certain programs are specifically designated for senior workers.
Federal government jobs offer competitive salaries and their requirements can vary widely based on different job profiles.
If you are good with numbers, becoming a bookkeeper is one of the best jobs for retired people, as it does not require manual labor.
Bookkeepers are responsible for tracking a company’s financial transactions, including managing invoices, paychecks, accounts payable & receivable, and other monetary data.
Their average hourly pay stands at $20.56 in the US.
If you are an expert in a particular field and possess rich work experience in the industry, you can become a consultant.
Depending on the industry you choose, your duties can differ widely.
However, the general responsibility of a consultant is to provide expert data-backed recommendations and suggestions to companies for increasing revenue, streamlining operations, and the overall growth of the organization.
In the US, consultants earn an average hourly wage of $24.52.
Got a master’s degree or a Ph.D. degree in hand? You can make use of the same and choose to become a lecturer or a professor as a retired professional.
In case you don’t want to commit to a full-time role as a professor, you can also work as a guest faculty and teach university and college students.
However, one of the other requirements to become a lecturer or a professor is that you must have teaching experience.
If you meet these criteria, you can earn about $33.86 per hour in the US as a professor.
Apart from these listed full-time jobs for retired people, there are also ample opportunities offering home-based and part-time jobs for seniors.
- Retail Salesperson
- Financial Advisor
Also read: Guide to the best job search sites in the US
Tips for Finding Good Jobs for Retirees
While there is no shortage of jobs for retired people, bagging one can be challenging if you're not prepared.
Plus, given the fact that there are no separate sections in job listing sites for “retired people” or “senior citizens”, you will be competing for jobs with people from all age groups.
With that being said, here are some tips that will streamline the process of finding and bagging the best jobs for retired people:
Use Your Connections and Start Networking
While most people apply for jobs through job listings, smart people use their networking skills and their connections to grab job vacancies before it even gets posted.
If you have been a working professional half of your life, leverage all the connections you’ve made and network for jobs.
Consider contacting past coworkers and working friends to see if they might have a reference for you.
Also read: How to connect with people on LinkedIn?
Polish or Acquire New Skills
Learning a new skill will always give you an edge while finding jobs for retired people and will let recruiters know that you can very well keep up with the current industry requirements.
Consider taking up certification courses to acquire new skills and get certified.
You can also listen to podcasts from industry experts or read informative books that will give you invaluable insight on the latest industry trends and standards.
Update Your Resume
Yes, along with your skills, updating your resume is a vital factor that can determine your candidacy for retired people's jobs.
Since the majority of employers now use the Applicant Tracking Software (ATS) to filter the most suitable resumes for job vacancies, your resume needs to be ATS-friendly.
So, how can you ensure that your resume is ATS-friendly?
You can do so by including industry-related keywords throughout your resume.
To identify these keywords, you must do ample research on the job profile you are targeting, and pick up keywords from the job listing.
Also read: How to write an ATS-friendly resume?
Write a Compelling Cover Letter
While you cannot be sure if the recruiter will read your cover letter, it can definitely make a difference if they do read it.
That is if your cover letter is thoughtful and well-written.
To ensure that your cover letter hits the mark, you must personalize it with the hiring manager’s name and write it with a particular employer in mind.
Your cover letter must show the recruiters how your experiences and skills are aligned with the company’s requirements.
Also read: How to write an impressive cover letter?
Factors to Assess Before Considering Second Careers for Retired Individuals
Now before you go ahead with your decision to opt for jobs after retirement, you must consider certain factors that may affect you when you go back to work.
Social Security Benefits and Taxes
Just like how people take professional help to sort out their finances before retirement, you need to seek help from a financial advisor to see how going back to work will affect your social security benefits, health coverage, pension, and taxes.
In 2022, you can earn about $19,560 without compromising your benefits before the full retirement age, which is 66+.
But if you surpass that amount, your social security check will go down $1 for every $2 earned.
However, when you reach your full retirement age, the cap on your income will cease and you will also be able to increase your social security benefits in some cases.
As for the taxes, you will still be liable to pay social security taxes on your paycheck for each additional year you work unless your overall individual income is less than $25,000.
In case you are receiving a pension check every month, your plan may be reduced when you go back to work because generally pension plans are based on the salary you received before your first retirement.
For instance, if your current retirement check is based on the full-time salary you were earning before retirement, but you go decide to go back to work part-time, this may drastically decrease your pension amount.
Having said that, different pension plans have different terms and conditions. Thus, it is best to consult a professional who manages pension for your previous employer.
Since senior citizens in the US are eligible for Medicare only after the age of 65, it's important to find a retirement job that covers your medical expenses.
If you don't have health insurance, you will be penalized by an annual excise tax which can increase every year.
Besides, having additional medical coverage either from your employer or individually will help you cover expenses that Medicare may not cover after 65.
Also read: How to find a job you love?
Key Points from the Blog
- Studies show that one in four workers will be older than 55 by the year 2024 and in 2018 alone, almost half of the new job vacancies were filled by 55 and older workers in the US.
- Depending on your motivation and reasons, you can find plenty of job opportunities that are not constricted by a certain age limit and suits your interests.
- ESL teachers, federal government employees, bookkeepers, consultants, and lecturers are some of the best jobs for retired people.
- Ensure to prepare well while applying for jobs after retirement by updating your skills, knowledge, and resume.
- Leverage your connections and start networking to find the best jobs for retired people.
- Include a compelling cover letter in your application to boost your chances of getting hired for jobs after retirement.