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Working in Retirement

Updated: Mar 20, 2020

Did you know that nearly half of all retirees say they either have worked or plan to work during their retirement? This is according to a Merrill Lynch study.

The top motivations for working in retirement are to stay mentally active and for money, according to the study.

So with that in mind, here are some jobs to consider that would pay decently and keep retirees mentally engaged.


As a consultant, companies or individuals will hire you to help them do anything from boosting profitability to developing strategy to reorganizing staff or company structure — and your years of experience and success in your own career can play perfectly into that. Retirees may like that they may get to think through complicated issues and find solutions and interact with a variety of people in the company. Typically, you could earn anywhere from about $25 to over $100 an hour, depending on experience.

Interpreter or translator

Do you speak, read and write another language fluently? If so, make an encore career of being an interpreter or translator -- which often offers a flexible schedule or the option to work from home. Typically one could earn about $20 an hour in these roles. Most hospitals now require a foreign language interpreters to help communicate procedures to their non-English speaking clients. And schools are often looking for interpreters to help students and their families understand tests and school policies. Check with your healthcare provider or local translation services for more information.

Bookkeeper, accountant or tax preparer

Many small businesses need help with basic bookkeeping or more complicated accounting, but don’t need someone on staff full-time. And tax preparers can work just during tax time and then have the rest of the year off to do whatever they please. Bookkeepers earn between $18 and $23 an hour typically, tax preparers about $12 an hour and accountants $23 to $28 an hour.

Adjunct professor

Many retirees love that they can interact with college students and impart their knowledge on the next generation, so this is often the place that retirees find self-fulfillment in their later years. However, the pay is typically not very generous, often $1,000 to $5,000 a class.

In addition, there’s demand for this role as colleges on restricted budgets are increasingly looking for people with years of real-world experience to teach students, without having to pay for benefits.

The best advice when pondering a retirement job, do your homework before you retire! Talk to your own company about part-time work, or the company you might like to work for, or clients that may hire you as a part-time employee. And also, check with your Social Security office about how much money you can make without having your benefits penalized.

However, the best advice is to get ready for retirement, financially. Have you sat down with a financial advisor and discussed your situation? Being prepared is the best plan that anyone can offer.

For more financial strategy advice, contact Swain Consulting LLC at 513-818-1753, ext. 4.



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