Here’s another great article from Harry Cline of New Care Giver
Returning to Work in Retirement:
6 Part-Time Jobs for Working Seniors
After a few years in retirement, you’re realizing that your nest egg isn’t going to last. You could tighten the purse strings and try to make it work, but if you have unexpected medical or long-term care costs, you’ll end up in a tight spot. For most seniors in their 60s, heading back to work is a better option. However, the prospect can be intimidating.
Getting a job in your career field is difficult when you’re older, especially if you only want to work part-time. Employers don’t want to take a risk on someone who might not be committed to the company long-term, but you don’t have the energy or the will to rejoin a high-stress work environment.
The good news is there are plenty of jobs that are ideal for seniors. Babyboomers Attic offers the following recommendations.
Great Part-Time Jobs for Seniors
If you only need to boost your retirement income a little, there are better options for working in retirement. Whether you want to follow a passion or just earn a little money at a low-pressure job, one of these senior-friendly part-time jobs could be for you.
Customer Service Representative: Whether you work at a big-box store like Costco or staff the counter at your local garden center, you’ll get to enjoy interactions with guests in a dynamic work environment. Keep in mind that many customer service jobs require working on your feet.
Event Worker: Event staffing is an ideal fit if you only want occasional work or prefer a seasonal job. Greeters, servers, bartenders, ushers, and valets are just a few of the staffers that make big events like weddings and conventions run smoothly.
Teacher’s Aide or Substitute Teacher: Seniors who enjoy working with children should consider becoming a teacher’s aide or substitute teacher. This is an especially good fit for seniors with backgrounds in education. If you haven’t worked in education, you may need to complete a certificate program or school district training to work in a classroom.
Home-Based Businesses for Seniors
Some seniors aren’t keen on the idea of working for someone else, especially if they were self-employed in their previous career. If you want to be your own boss but are wary of the risk and investment involved in a brick-and-mortar business, consider a home-based business instead. These are three businesses you can run from your home on a part-time basis:
Ecommerce with dropshipping: Are you an expert in a niche hobby? Selling parts, gadgets, or gifts related to your hobby through an online store can boost your retirement income while requiring minimal startup investment. While you’ll need to set up an ecommerce website and market your business, dropshipping makes it so you don’t have to purchase or store physical inventory to fulfill orders.
Remote bookkeeping: If you’re detail-oriented and good with numbers, a remote bookkeeping business could be a good fit. You don’t need to be an accountant to run a bookkeeping business, and you can set your own workload by taking on as few or as many clients as you’d like.
Consulting: Are you missing your old career? If you want to get back in the game — just not full-time — start a home-based consulting business. Many consultants with experience and a good reputation in their field find that, once they put themselves out there, the work comes to them. Remember to charge higher rates as a consultant, as you’re responsible for paying your own employment taxes and benefits.
Keep in mind that things will get a little more complicated with your home-based business if you start to hire employees to help you out. If you’re a payroll novice or you simply want to handle this task off to someone else, there are options. Payroll software, for example, can keep track of your employee’s time, allow you to build and publish work schedules, and even file and pay your payroll taxes. Some even offer direct deposits for your employees. And as a little peace of mind, tax penalty protection is provided in the event that you get a penalty.
There’s one more major consideration seniors have to make before returning to work: Social Security. It’s true that going back to work reduces your Social Security benefits if you haven’t reached full retirement age. However, you can earn up to $17,640 before benefits are impacted. Even if you earn over the limit, you’ll be paid back with higher benefits in the future. All in all, heading back to work is a win for your retirement finances.
This article is for informational purposes only.
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