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Working in Retirement?

With companies like GM filing for bankruptcy protection and 401(k) plans dipping because of economic troubles, retirement, particularly for some people, is not what it used to be.  Safeguarding a respectable portfolio with attractive investments, at least at one time, was an almost surefire way of financially solidifying the Golden Years.  Now, with stock market volatility and once stalwart companies folding, maintaining a certain standard of living could be more challenging.   So what do some people do?  They go back to work.

Frankly, certain individuals never planned to completely retire and enjoy the thought of remaining active in the work force.  Still, others were hoping to plan each day independently and do not relish the thought of additional commitments.  The motivation as to why an individual remains working after the customary retirement age (65 or 66) will likely determine how he or she proceeds.  The suggestions below are some employment thoughts if you think you might continue working.

  1. Train for a new career.  Training does not have to take years.  Some colleges offer certificate, credited, and/or non credited courses to seniors at reduced rates (or sometimes even free of charge!).  Perhaps you always had an interest in assisting in the classroom or working in a hospital; training could prepare you for that new job.
  2. Stay with your current position.  People usually move on because they feel they have something more appealing they wish to do.  If you reach retirement and still need an income beyond what Social Security and your pension can offer (and you enjoy working where you do), then consider staying.  Anyhow, it might be difficult to match the income you are already receiving.
  3. Find something you really enjoy.  Some people need only a little extra money in retirement.  If such is the case, then consider doing something personally rewarding.  Maybe you always yearned to assist disabled children or enjoy the festive aspect of amusement parks.  If so, perhaps now is the time?
  4. Hang out your own shingle.  Maybe you are knowledgeable in the financial, technological, educational, or other interesting field.  If so, perhaps start a side business or work as a consultant?  You get to choose the hours (plus bring in an income).

The face of retirement is changing for a number of people.  Some individuals will welcome the new features, and some will not.  Still, the Golden Years are meant to be happy, so at whatever level you retire, enjoy!

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