Oct 8, 2024
Many older Americans enjoy being retired, but some are left seeking fulfillment. A survey conducted by MedicareFAQ found close to a quarter of retirees struggle to find meaning in their lives after saying goodbye to their jobs, while 22% reported the transition to retirement was more difficult than they anticipated.
For some retirees, going back to work may seem like the best solution. According to an analysis by LinkedIn, the share of baby boomers that exited retirement last year was 13.2% — a five-year high. And, as many as 1-in-4 retired Americans plan to remain gainfully employed during their golden years, according to MedicareFAQ.
Advertisement
The only problem, however, is that finding meaningful work at an advanced age can be difficult — especially if there's a gap in your resume.
If you're finding it difficult to get hired, you still have some options.
Work for yourself
If you're more interested in working as a retiree to find purpose rather than to get a paycheck, this may be a good time to explore entrepreneurship. When you aren't dependent on wages to support your family, you can take more time to become profitable and can work in a field you're passionate about even if the pay isn't great.
Try to find a low-cost business opportunity that plays to your skills. Consider things like babysitting, serving as a personal chef, freelance writing, dog walking, pet sitting or tutoring. These opportunities could provide a good work-life balance, as well as the chance to turn hobbies you enjoy into a paying gig.
There are lots of online apps you can sign up for to jumpstart your efforts — or you can learn to create a basic website and advertise in some local groups to find customers.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
- Vanguard reveals what could be coming for U.S. stocks, and it’s raising alarm bells for retirees. Here’s why and how to protect yourself
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Volunteer your time
Volunteering is another way to fill your time and potentially get your foot in the door at organizations that might hire you.
You could meet other professionals while doing volunteer work that may know of opportunities for you. Some charitable organization also offer paid positions, and depending on the type of work you do, they may be willing to bring you on if there's an opening.
If that doesn't pan out, volunteer work would still help you bring your resume up to date if you have a job gap after retiring. And, you may just decide you prefer to give your time for free for a cause you care about rather than joining the corporate grind — especially if you have plenty of retirement savings.
Build your network
Finding employment might be easier if you expand your network of contacts. If you're familiar with a person or company that's hiring, you may have a better shot at landing a paid position.
Online tools like LinkedIn can help, or you can find out if any professional groups operate in your area. You can also reach out to past employers or old co-workers to see if they have any leads.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Know the law
Finally, you should know the laws. Age discrimination is prohibited under The Age Discrimination in Employment Act (ADEA). If you're aged 40 and up and a company treats you in a discriminatory way due to your age, you may be able to file a charge.
By following these tips, hopefully you can find something that gives meaning and purpose to your days. After all, you only get one retirement and you deserve to enjoy it.
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she’s getting slammed for it. Which option would you pick?
- Warren Buffett used these 8 repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Christy Bieber has 15 years of experience as a personal finance and legal writer. She has written for many publications including Forbes, Kilplinger, CNN, WSJ, Credit Karma, Insurify and more.
