Category: The New Rules of Retirement

Jobs For Retired People

Jobs For Retired People

Jobs For Retired People: Supplementing Your Savings to Live Your Best Life + Retire Early?

This article, “Jobs for Retired People” is the second article in our New Series: The New Rules of Retirement.

Jobs for Retired People? Doesn’t retired mean “NOT WORKING?” Maybe, but maybe not! In our Series – The New Rules of Retirement, we are exploring what it means to re-define retirement to fit your needs and lifestyle.

In our last article, we discussed how the “Average American” close to retirement age these days might not have as much saved as they would like. We also did some math to discover what amount of side income might be needed for the majority of Americans to still “retire” when they wanted to.

In our case study, the “Average American” with the most average of savings might need an extra $1,295 a month to live the lifestyle they envisioned in retirement.

Retire Early???

Some of these side gigs might even allow you to quit your job earlier than you thought possible. We have heard stories of people LOVING their side job so much, and actually making good money from it, that they were able to retire from their full-time job early.

Side or Part-Time Jobs for Retired People

The Best Side Jobs for Retired People & People Saving Extra For Retirement

This article will help you to find a fun or creative “Side Job” / “Side Hustle” / “Part-Time Work” or another source of passive income to help you retire or save more for retirement.

A few things to keep in mind:

jobs for retired people
  • First, these are jobs to supplement your retirement savings. They may or may not be HUGE money makers – often they are just a way to make some extra income.
  • Second, they are meant to also be enjoyable and creative! Yes, they are still work, but with a retirement flavor and happy attitude. Some keep you active or challenge you mentally. Others are creative, and some even keep you social!
  • Finally, you can start these jobs before you retire. Use them as a second job to give your retirement savings an extra boost. In addition, many of the passive income generating jobs take some time to develop. That means the earlier you begin them, the more you can sit back and just maintain them later.

Side Job Category One: Jobs that Keep You Active

Pet Sitter / Dog Walker

Listen, retirement is not getting any cheaper or any easier. Everyone thinks they have enough saved for retirement as they near their golden years, however, the truth of the matter is that majority of people have nowhere near enough money saved. This is likely why you’re looking for a side job in retirement. Either that, or you’re just plain bored.

Either way, becoming a pet sitter or dog walker is a great opportunity to make a little extra money. 

Sites such as Wag! or Rover make it easy to do this. You’re probably already going to a morning walk anyway, so why not bring a furry friend with you and get paid to do it. If you’re really feeling adventurous, you could let the furry friend sleep over and get paid even more.

You could earn several hundred dollars a week all by just living as you normally would, but having an awesome four-legged companion with you. (From Austin with TheLogicofMoney.com)

Handy-Person

If you are good at fixing things, there are a lot of people that are not, and they need your help. People all over need help with small house projects and light outdoor work.

Becoming a “handyman” or “handywoman” might be as simple as making some quick business cards and passing them out to everyone you know. It is a great word-of-mouth, referral business, for those with a solid network of friends, family and co-workers. If you need help finding people to help-out and are comfortable online, services like TaskRabbit, can point you towards people looking for help.

Category Two: Jobs that Keep You Social

Vacation House/Room Renter

Tom Blake, from ThisOnlineWorld, suggests Airbnb as a way to stay both active and social in retirement while making extra money. He includes this in his list of “The Best Gig Economy Jobs – Make Extra Money On The Side.”

Airbnb allows you to make your house, or a room in your house available for rent to travelers. You can make decent side-income renting your home if you live in a well traveled area.

Tom mentions Airbnb is a great way “to make use of any extra space you might have in your home (in case you haven’t downsized) as well as meet new people!” Many of our friends have great Airbnb stories from both sides of the service. It’s a unique travel culture that can provide exciting experiences to an otherwise quiet retirement.

Drive for Uber or Lyft

Uber and Lyft are good ways to make a little extra money while interacting with new people. If you are in a touristy town and like to talk up your local hot spots and events, then you will find your happiness with a driving service.

On the other hand, driving services can also work out for people that don’t like to constantly chat (or drive around tipsy people late at night). Everyone needs trips to the airport, especially in the quite early mornings. Moreover, if you really aren’t feeling social, Uber Eats allows you to drive around food instead of people.

Category Three: Jobs that Keep You Creative

Selling Crafts – Online or In-Person

Craft Fairs are still hot! If you like to craft, you can tour your state (and beyond…) selling your creations. Makers Markets, Junk Stocks, Fundraising Craft Fairs, State Fairs and Flea Markets abound and are fun for all involved.

For those of you like enjoy selling online, the popular markets include Etsy, Artfire and Bonanza. If you need help with setting up an online shop, hop onto a site like Fiverr and search for “help with etsy shop” or something similar. You will find freelancers that will help you get started!

Freelance Writer

For those of you that like to write, look into becoming a freelance writer. Online publications (and some local in print ones) are always looking for people to add valuable content to their sites for their readers. We suggest reaching out to the smaller ones you might already read first.

In addition, you can find places to write for by searching for “best sites for freelance writing” or something similar. Here is one article we found to start you off. Insert your specific area of interest to make it more relevant. For example, “best sites for music freelance writing.”

Category Four: Jobs for Retired People that Keep You Busy

Taking Surveys

If you are looking for a way to make money on the side that doesn’t take a whole lot of effort, then taking surveys is a fun way to pass your time. You can sit on the couch, listen to music or the TV, and provide your opinions to people who want them.

Popular online survey sites include Pinecone Research (which I did for a couple years and loved!), Opinion Outpost, Inbox Dollars, and the National Consumer Panel.

If you want to take this one into the “real world,” then look for paid opportunities for participating in Focus Groups and Health Studies.

Category Five: Jobs for Retired People that Keep You Challenged

Start a Blog

Oh boy, if you are up for the challenge, then try starting a blog! People actually do make money from their blogs these days – especially niche blogs. However, there is a steep technology learning curve, if you are not already very comfortable creating online.

Blogging can be a great way to generate passive income. Typically, you can make good money after years of effort, lots and lots of writing, and much search engine optimizing. If you enjoy learning and writing more about a subject you are already passionate about, then you will love blogging. On the other hand, you will also have to find learning about blogging interesting, because half of your time will be devoted to that.

Tutor or Teach

Both in person and online, tutors and teachers are in demand. If you have a field of expertise or passion for helping a certain age, then start there. This is a great business to grow by word-of-mouth if you have a decent network of friends and family to reach out to, but there are also businesses that can bring you students. Tutoring centers exist both online and in physical locations and are always looking for qualified help.

If you have graduate degrees in certain areas, you can look into teaching at your local universities and community colleges as an adjunct professor. Certain fields are always looking for people with Master’s degrees and beyond to teach both online and in person classes.

Jobs for Retired People Conclusions

jobs for retired people

There are so many opportunities to create the kind of retirement and work-life you want in our new economy. The New Rules of Retirement say you have the creative power to shape your life.

You can work and play at the same time with these part-time jobs.

We will be continually adding to this list. We would also love to hear your suggestions and what has worked well for you. Please email us or comment below.

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Minimalist Living

Minimalist Living

Minimalist Living

Minimalist Living, Minimalism, Conscious Consumerism, Simple Living, The Joy of Less, Decluttering, Downsizing… Perhaps you have encountered these words recently and realized this is a movement spreading across America. Minimalist living is nothing new, but weary Americans coming off the consumerism roller-coaster, are discovering it again.

Minimalism Across Generations

Millennial Minimalism

Minimalist Living

Minimalism is appealing across generations, but it seems to be most appealing to the Millennial Generation. The Millennial generation (born 1981-1996) grew up with the high spending of the 1990’s and the bubble bursts of the 2000’s. Exiting school with a poor job market and lots of debt shaped the way Millennials see the world. Moreover, the highlighted effects of climate change from global consumerism are concerning to this generation which will most likely live to see the effects of our changing weather.

According to Forbes, 78% of Millenials would rather spend money of experiences than on stuff. (59% of Baby boomers say the same thing.) Millennials are opting for smaller house, smaller carbon footprints, and sharing cars/tools/etc. They are decluttering and donating the remnants of their early spending, and the mainstream is taking notice.

Baby Boomer Minimalism

The Baby Boomers are noticing too. As we mentioned, over half of the Boomers said they would rather spend money on experiences than things. However, this number is far below the Millennial count, and Boomers have a much more complicated relationship with things.

The Baby Boomers (born 1946-1964) grew up with rapid U.S. economy growth, the rise of the suburbs, and the marketing of the “American Dream.” As a result, Boomers were the generation of accumulation. Generation X (born 1965-1981) was not far behind in picking up where the boomers left off in consumption of stuff.

Now, the Baby Boomers are entering retirement in droves (10,000 Boomers each day reach retirement age) and sometime after this (hopefully a long time after this) they will pass. What happens to all their stuff?

Unloading Your Stuff for Minimalist Living

Here is the new reality: the generations after you do not want your “stuff.” Heirlooms to one generation are now the junk of the next generation. This is not to say that nothing is precious. You might have a few very special objects that can be confidently passed down. However all the china, crystal and large pieces of furniture that were once considered essential and now considered (heavy) burdens.

Step number one will always be – STOP buying more stuff! Once you have accepted this concept as more than theory, it is easier to move on to step two – minimizing your stuff.

Traditional Downsizing and the Rise of Sweedish Death Cleaning

Let’s say you are a Baby Boomer (as an example, this applies to all ages), with a average to above average living space and perhaps even a storage unit. You have accumulated many things in a large amount of categories including clothes, shoes, accessories, kitchen wares, furniture, decor, outdoor tools, camping gear, exercise equipment, beauty supplies, cars, holiday decorations, etc.

How does the responsibility of this amount of stuff make you feel? Moreover, who will inherit this responsibility when you are gone?

There are several ways to look at this situation that fall along the spectrum of minimalist living:

The 4 Phases of Minimalist Living
  • Organizing
  • Decluttering
  • Downsizing
  • Minimalist Living

Let’s look at each step on the journey:

Organizing

Organizing is not minimizing. It is taking what you have, sorting it out and putting into a manageable system so you can use it and enjoy it effectively. It can be helpful to you, and those that have to sort through your stuff later, but it does not take away any of the burden of material things.

Organizing will always have a place in the process of minimizing. You will need to organize what you have at every step in the minimalist journey. In addition, organizing will get easier as you let go of more and purchase less.

Decluttering

Decluttering is the first step in embracing minimalist living. It involves not only a physical shift of letting go, but also a mental shift into what it means to live more with less.

Marie Kondo’s book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing, brought decluttering into the spotlight in 2014. (As did her Netflix special a few years later.) It is still a great book to start you on your journey of letting go and learning to find the joy of living with less. Are you unfamiliar with this book? The premise is to only allow things to exist in you life that “spark joy.”

For example if a pair of shoes does not bring you joy – get rid of them. If you have 10 shirts in your closet, but only 2 shirts make you feel good and look good (i.e. bring you joy) then you have 8 shirts too many. Kondo also has a very effective system of gathering, sorting and deciding what stuff stays and what goes.

Downsizing

Downsizing goes beyond decluttering and challenges us to face our mark on this world and what we might leave behind. In this way, we consider how our current living situation is affecting our own happiness and the happiness of those around us.

For example, consider the size of your living space. How much space you live in affects your comfort level, but it also dictates the amount of responsibility (or burden) you have. Your space size decides how much time you spend cleaning and maintaining and how much money you spend doing these activities. It also affects those around you by the amount of energy you use (your carbon footprint) and the amount of resources you use to maintain your home.

When you pass, your responsibility (burden) for all of your things becomes someone else’s responsibility (burden). The Gentle Art of Swedish Death Cleaning is a very recent book on an old subject. It is dedicated to helping people unload their stuff now, so their loved ones will not have to when they pass.

When done in the Swedish fashion, downsizing and decluttering becomes an act of love. Moreover, it becomes a journey that allows you to share experiences and meanings behind objects and heirlooms, before you part with them.

Minimalist Living

Finally, after you have organized, decluttered, and downsized, you may just be ready to embrace a minimalist life. Minimalism asks you to let go of anything that does not serve you or bring you happiness. It favors quality over quantity, and conservation over consumerism.

More than any of the other step, minimalism is a lifestyle. You get to define what simple living means to you. Maybe it means only owning 30 items of clothing or letting go of a large house or an extra car. Minimalism can free up your cash now that you have stepped off the consumer wheel. Maybe that means you can retire early – or even retire at all!

Above all, minimalism can give you freedom. It is amazing how much stress and pressure comes from our accumulation and maintenance of our stuff. If you are looking for a guide to start you on your path to minimalist living, then I have a few recommendations:

  • The More of Less: Finding the Life You Want Under Everything You Own. This book by Joshua Becker is an excellent starting point for any curious reader. It was one of the first minimalist books I read, and it reached me right where I was at – in my suburban home with a crowded garage.
  • Project 333. For those of you that want to create a minimalist life, but would like to start smaller, Project 333 will help you minimize your wardrobe. This is a website/blog that will challenge you to evaluate what you really need in regards to clothes, shoes and accessories.
  • The Minimalists. This website will lead you to articles, podcasts, movies and other resources that will help you discover more about minimalism and the people that practice it.

Going Forward with Minimalist Living

Whatever stage of life you are in, it is good to know that it is not to late to minimize! It is just going to be a lot harder for some. Starting small with one specific area or project will help. As will understanding that letting go of stuff is a journey. We are never really done, and choosing a minimal lifestyle is an everyday process. However, it is worth is when you consider all the benefits: time freed up, money saved, resources conserved, and stress relieved.

the four phases of minimalist living
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New Rules of Retirement

New Rules of Retirement

The New Rules of Retirement Series

Retirement is changing, whether you like it or not… whether you are prepared for it or not. Let’s lay down the new rules of retirement and how to follow them, bend them and break them for your needs.

This is the introduction article to our New Series: The New Rules of Retirement. The Next Article in the Series is Jobs For Retired People.

Rethinking Retirement

The New Rules of Retirement - for when the old playbook fails you

You have the freedom to define the word “retirement” to best suit you and your needs. Retirement might have been cut and dry for the previous generations, but it is all over the board for those pondering it now.

We all know the old playbook – put in your time at a company – retire after 40 years – receive your pension and social security. This playbook was scrapped for many in the baby boomer generation on. Events beyond our control may have set us back or have caught us off guard.

Depending on if this happens to you later in life or earlier in life, there are still ways to enjoy a “retirement.” Moreover, some might find the new ways of providing for retirement even more fulfilling than the old ways.

A Case Study in The New Rules of Retirement: The “Average American”

Let’s say that you are the “Average American” who is of retirement age. (We are talking – the most average of average.) You decide to retire at 66, the current full age of retirement. Right now, the average Social Security check for the Average American is $1,461 a month.

In addition to Social Security, the “Average American” will have about $172,000 in retirement savings at age 66. This is based on a (median estimate instead of average).

Then, let’s assume you made about $60,000 a year in your last years, and you are about to retire today. You estimate that you will need about 70% of that amount to live in retirement. So, you need $42,000 a year, or $3,500 a month to fund your modest American retirement. (This is all in current dollars, not future money for this example.)

To be reasonably safe, we will assume you will live to about 90 years old and your savings will stay in the stock market with a 5% rate of return in conservative investments.

Just How Screwed/Set are You – The “Average American”?

If you live to 90, for this case study, the math says you will need about $470,000 in savings to compliment your social security (in today’s dollars). However, you only have $172,000. In this scenario (living off of $42,000 a year) you are short $298,000.

You will have $2,205 a month to spend instead of $3,500
= a deficit of $1,295 a month.

This adds up to living off of $26,460 (including social security) instead of $42,000.

Plus… TAXES!

On top of this, we have not even taken into account taxes! Depending on how much you withdraw each year, and where you have your money stashed (401k? Roth?), you may need to pay taxes on your retirement income. Austin, at The Logic of Money, does a good job on quickly breaking down retirement taxes in this article here.

So, What Do You Do?

Many Americans will accept their fate and live on their fixed income, or they may decide to stay in their full-time job longer. However, that does not need to be you! Being retired does not need to be a do nothing sentence.

In Comes the New Rules of Retirement

The New Rules say you can make up the difference by making passive income and participating in side jobs. (This is what the kids call side hustling!) Moreover, you can still maintain your retired status find ways to do things you love (or hopefully come to love).

With your side job, you can showcase your skills/expertise or learn a new skill. You only need to make about $1,300 a month, so there the pressure is revealed to find something that just “pays the bills.” Retirement is a time to spend time doing things you enjoy with people you enjoy. You can tailor your experience to meet your needs with a little bit of planning and initiation.

The new rules of retirement say you have the freedom to define the word “retirement.” You can still be retired and bring in extra income in our new economy.

Passive Income and Side Jobs for Retirement

jobs for retired people

Our next articles in our New Rules of Retirement series will help you explore all the avenues of making extra money. We will explore traditional jobs as well as new jobs available to retirees who need a little extra income.

READ IT HERE: Jobs for Retired People

You can also get a jump start by reading about our favorite retirement money books here.

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Best Near Retirement Money Books

Best Near Retirement Money Books

Here are the best books for when you are at or near retirement

Best Retirement Money Books Pin - Medicare Life Health

For those of you that are near retirement, but not quite there, this is your crunch time. Your money should be working in overtime by the time you are 5 to 10 years away from leaving employment. So, let’s look at some of the best near retirement money books that will give you the most return on your hard earned investments.

Even the busiest of individuals should spend at least a couple hours with each of these books as they have the potential to not just help you save money, but potentially earn thousands of dollars more.

It should be your goal to not only take advantage of your best earning years and best investing years, but to also use this time to set yourself up for the most advantageous tax situation possible. All of this can mean the different between a comfortable retirement and an excellent one.

Don’t want to “read”? Then listen instead!

If you are “not a reader” I would encourage you to consider listening to these books. With an Audible account, you can knock a book out a week on your daily commute. Medicare Life Health readers can get two Audible books free by clicking on this link!

The Power of Zero by David McKnight

The Power of Zero, Revised and Updated: How to Get to the 0% Tax Bracket and Transform Your Retirement by David McKnight is one of the best retirement money books out there. You could even get away with reading it in retirement to take advantage of some of McKnight’s financial recommendations.

McKnight is an expert on putting your money in the right financial accounts to get you to a place where you can keep your taxes as low as possible in retirement. He will even teach you how to structure your savings and withdrawals to keep you in the zero percent tax bracket! Even if you have thousands or millions of dollars saved to enjoy in retirement.

The best parts of this book are:

  • It’s short and to the point – but packed with information.
  • It gives you a game plan that is very doable for the “average retiree.”
  • However, it is a different way of thinking. McKnight teaches a unique solution to how to structure your retirement accounts to keep taxes low.

Bonus Books by David McKnight: Look Before You LIRP: Why All Life Insurance Retirement Plans Are Not Created Equal, and How to Find the Right One for You

This book goes into more detail on one particular retirement finance vehicile: IUL’s or Indexed Universal Life Insurance. We have an article that introduces you to IUL’s as well. They are a good option for people that are looking for another tax advantaged way to save/use money in retirement.

You Can Retire Sooner Than You Think by Wes Moss

I like that this book is one part psychology, one part finance. Wes Moss very much wants you to be HAPPY in retirement. However, no specific amount of money saved up will make you happy. What you can do, to help in the happiness department, is to make lifestyle and money choices now that will ensure a base level of happiness later.

In addition to sharing profiles and attributes of happy retirees, Moss has five helpful money secrets of happy retirees to share with you. He distilled these secrets from his listeners on his popular radio show and also from his clients as is a financial adviser. These secrets are not revolutionary. However, they will give you a great place to start preparing for retirement. This is true especially if you are ten years out or less.

The best parts of this book are:

  • Moss’s two way approach to preparing for retirement – mentally and and financially.
  • The book is full of practical advice and interesting statistics.
  • Moss makes a good case on the side of paying off your mortgage in the debate of mortgage vs. no mortgage.
  • One of Moss’s “Secrets” covers having multiple streams of income in retirement. I think this is one of the most essential parts of retirement in this century. It will only get more important as our social structures continue to change.

Your Money or Your Life by Vicki Robin

I am recommending Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Revised and Updated for the 21st Century by Vicki Robin to those of you that might need a reboot in order to make it to your retirement goals.

This book is usually recommended to younger people that are just starting to save for retirement. However, it is really a book for anybody that wants to reshape their relationship to money and retirement. Everyone should read this book (I have read it more than three times.) In this instance, I want to call out one group of near retirees that need to read this book NOW:

If you are like “most Americans” who have an average of $84,821 saved for retirement, you need to step up your game in these last few years before retirement. This book will help. It will show you how to save more money fast, so you can retire even faster.

What’s the best near retirement money book you’ve read?

We are now in the “New Age of Retirement”. These books will help you in defining what that means to you. Then, they will help you to get there.

Let us know what you would add to the list. What are your best near retirement money books? Please comment below!


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