The Ugly Side of
Retirement Employment
Is retirement employment in your future?
For the millions of Baby Boomers, recession woes have cast a dark shadow over any plans of a leisurely retirement.
More than half expect to continue to work long after their last employment paycheck.
While many retirees are forced, financially, to seek employment, a growing segment of the retiring population is doing so as a matter of lifestyle choice.
The need to stay vibrant, relevant and socially connected is driving more retirees back to work and the traditional vision of retirement is quickly evaporating for an aging population that has seemingly discovered the fountain of youth.
While, working in retirement offers retirees the opportunity to stay active and shore up their finances, there is an ugly side to retirement employment that should be explored as well.
The Ugly Truths About Retirement Employment
You May not Earn What You’re Really Worth
Many retirees can accept the fact that the job market does not favor older workers and they are willing to accept part-time work or lesser salaries.
As the tens of millions of Baby Boomers that are now getting ready to leave full employment converge on the job market, they will find the pickings to be very slim.
And where jobs are available, they may be shocked to learn that their value as productive workers has shrunk in the eyes of employers.
As a whole, employers still prefer to hire younger workers, however, they have discovered the economic benefits of hiring older workers who will accept part-time employment and do so for less income.
Discrimination? Maybe. But it certainly is an economic reality driven by the increasing demand of older workers seeking a shrinking supply of available jobs.
You May not Find What You Want
Not to disparage the fabulous senior citizens who grace the entries of Wal-Mart Stores, but very few people who toiled for a lifetime in order to lead a dignified life as a retiree envisioned themselves as store greeters.
The problem, as many retirees find, is that their skills and expertise don’t always transfer in post-retirement employment.
For the many seniors who are simply looking for reasons to get out of the house, this may not be an issue.
But, for those who are still trying to make a living, it can prove to be very frustrating.
It Still Might not be Enough
Retirees that need to work in order to pay the bills may find that their earnings may not be enough to sustain their needs.
If post-retirement income is a necessity in order to meet basic living needs, the harsh reality for many retirees is that their earning years and ability are likely to be limited due to health issues.
Your Employment Checklist.
- Learn to market your skills and expertise – whether you are an educator or a brick-layer, all skills are marketable and there is always a market for specific skills. Be a networker and a connect with people in your community. Enable others to promote you.
- Learn new skills – It’s never too late to learn new skills or hone the ones you have. Learn where the demand for skills is growing and pursue training and education.
- Start a business – Turn your passion into profits. Elevate your hobby skills into a marketable enterprise. This can be done in conjunction with part-time employment until your business generates the income you need.
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