Many older adults choose to keep working after retirement. Could it be right for you? And what kind of a job would you choose? Would you prefer a paid part-time or full-a time job? Or choose to volunteer or work free-lance? You could also decide to teach or mentor. The work you choose doesn’t have to be long-term or full-time. It could simply be a temporary or part-time job that helps you ease into retirement. It could also be an opportunity to finally pursue a passion in a new field.
Whatever you choose to do, here are some benefits and risks to think about.
Benefits of Working After Retirement: Studies have shown that returning to work after retirement, especially after 60, brings a series of health benefits. These include a lower incidence of various chronic illnesses and a slower cognitive decline
Physical Well Being
Older adults who work part-time after retirement have fewer serious diseases, like:
· High blood pressure
· Diabetes
· Cancer
· Lung disease
· Heart disease
· Stroke
Mental Well Being
· Mental sharpness. When it’s time to retire, consider picking up a part-time job that’s different from what you did during your full-time career. When you stay busy and continue challenging yourself, you’re less likely to get dementia.
· The key is to do something that keeps you busy but doesn’t add extra stress to your life. You may need to pick up some new skills.
Staying social.
· Some people experience a loss of identity or purpose without a job or routine.
· Working a side job after retirement gives you the chance to meet new people. You might make new friends.
Extra money:
· Investing in new or old hobbies
· Bridging the financial gap
· Making your retirement savings go further
Risks of Working After Retirement
· Added stress. If you choose the wrong job, you may feel drained physically and emotionally.
· If you decide to take on a job and end up stressed and fatigued, don’t feel funny about resigning from it. Look for another job that’s a better fit.
· Unintended financial impacts. Before you pick up a job during retirement, talk to a financial advisor to make sure that working won’t hurt you financially by considering your tax implications
· Less free time. Some companies allow more flexibility to retirees, but not all of them do. You may need to request time off in advance.
· If you looked forward to setting your own schedule in retirement, a job may keep you from doing what you want, when you want.
How Will You Get Back into the Workforce?
Once you know your reasons for going back into the workforce, the kind of role you want, and you’re aware of the issues you might face along the way, it’s time to make a plan. Here are some tactics:
Reskilling and Upskilling
If you’re trying to access a completely new profession or continuing with your old one, you may need some degree of additional knowledge. You could try to learn through:
· Industry-specific programs
· Certifications
· E-learning and online courses from a reputable institution or provider
Other useful resources to help you fill gaps in your professional knowledge could include:
· Industry-based newsletters
· Books and publications
· Podcasts
· Webinars
· Thematical YouTube channels
Finally, consider shadowing a colleague or a manager. This can be extremely beneficial to jumping right back into a role. You learn by first observing and, once ready, by actively performing tasks with supervision.
Know Your Value and Learn to Sell it
As an older worker, you are certainly experienced and knowledgeable in your field. You might need to brush-up on new developments, but that’s nothing compared to decades of experience on the job. Being in the same industry for that long, you know how to handle a great variety of situations. Plus, chances are you’ve mastered interpersonal skills since you have spent so long on the job.
When applying to new jobs to return to work after retirement, make sure to highlight all of these during interviews. Use real-life examples and explain how certain skills helped you achieve past goals. Don’t forget to emphasize the soft skills you acquired during your career and pairing it with an eager-to-learn attitude will put you on the right track to success.
Update Your Resume
A new resume is a must when trying to return to working after retirement. Although it might be tempting to list all your past career roles and accomplishments, relevance and simplicity are key here. Follow a reverse chronological order and include the jobs that best align with what you are looking for.
It shouldn’t take up more than one or two pages. Don’t forget to add the time you spent retired, as well. Whether you participated in volunteering activities, cared for your grandkids, or travelled the world, communicate what these experiences taught you.
Use the Power of Networking
Networking is one of the most powerful tools to find a new work gig no matter your age. If working after retirement is your goal, start by letting everyone in your circle know that you’re seeking a new challenge. Talk to family, friends and reconnect with your ex-co-workers and clients if you lost touch. Perfect occasions to do this include meeting for coffee, lunch, or drinks.
You can also attend industry events, so you’ll get to know new people, trends, and projects. Professional social networks are another great way to become acquainted with new professionals. Especially when trying to start a new career, they can help you get your foot in the door and find out about new opportunities, as well.
Above all, if you wish to go back to work after leaving the workforce, make sure to stay positive and let your enthusiasm shine through in your job search. The right opportunity will reach you soon.
- Compiled by Anita Natu
Sources:
https://www.monster.com/career-advice/article/return-to-work-after-retirement
https://www.webmd.com/healthy-aging/working-after-retirement