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Work and Career Tips for Seniors Looking for Extra Income

Work and Career Tips for Seniors Looking for Extra Income

January 05, 2022
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Work and Career Tips for Seniors Looking for Extra Income

In an ideal world, every senior would be able to put aside all financial worries post retirement. For many retirees, however, this is not the case. Many seniors need to find other sources of income to live comfortably. Still, others may have sufficient retirement income but be looking for extra funds to have more opportunities in the way of travel and recreation. Whether you are a retired senior looking for supplemental funds, or a working senior hoping to make more, here are some ideas for you.

How to find work as a senior.

As an older adult, you probably have an extensive network, socially and professionally, so think about how you can communicate with your connections about what you are looking for and ask them for recommendations. Moreover, you likely have numerous skills both from previous employment and from life experience that could be marketable. You may need to emphasize these skills in job interviews with younger managers. But on the other hand, you might have to explain that you are not overqualified for the position if you have an extensive resume. Keep in mind that some older adults are less tech-literate, so be prepared to demonstrate your fluency with technology should this be relevant.

Look for senior-friendly businesses.

Unfortunately, there is a lot of age discrimination in the workforce, and this can pose a challenge for seniors who face prejudice despite their excellent skills and qualifications. There are quite a few businesses and industries that are more welcoming of seniors, however, including some larger companies that are known for being particularly great about hiring older workers. These include the fashion company H&M, the food retailer Wegmans Food Markets, and sports apparel manufacturer Nike. Seniors may also want to look for companies that are hiring remote workers, since there may be less age discrimination involved, and because remote work may be easier to navigate if one is dealing with transportation or accessibility issues.

Some jobs work well for seniors.

Many seniors may be looking for jobs they can do part-time since a forty-hour workweek can be stressful for older working adults – or because they’d like to enjoy some rest, recreation, or family time. Some job opportunities that work well for seniors whether full-time or part-time include customer service, driving services, teaching and tutoring, and childcare. Seniors who are looking for more flexibility may want to consider working as freelancers or consultants, or even starting their own small at-home business.

The benefits of working as a senior.

Not all seniors choose to work after retirement, but for many, the chance to get out and use their skills, as well as to continue to interact with others in the workplace, can be great for both physical and mental health. Other benefits of working as an older adult – aside from the financial advantages – include increased independence, a sense of purpose, and the opportunity to keep growing and developing as an individual.

Tips for health and safety for older working adults.

Sometimes working when you are older has disadvantages, too, especially when it’s not a job you love, or when you’d rather be spending your time on your own terms. So, it’s important to protect yourself from both physical strain and mental stress. Be aware of your own limitations and set boundaries at work. Be careful and safety-conscious when doing work that requires extra physical activity or heavy lifting. If the job you are doing is unappealing or uninspiring, consider whether you might be able to make a career change. Plenty of older adults do successfully switch careers later in life, so don’t feel that your age should be a barrier to seeking a better quality of life.

Reardon Associates understands that everyone is entitled to enjoy their retirement years, whether you opt to work or not. Financial planning services can help you make the most of this time and get the most out of your financial resources.

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