Top 5 Professional Tips on Building a Successful Second Career as Retirement Approaches

Many of us planning for retirement also start thinking about “what do to next”? Advance planning can not only help you plan for a successful retirement and long-term care but to take something you love into a second career.

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Top 5 Professional Tips on Building a Successful Second Career as Retirement Approaches
3 Min Read December 26th, 2018

There are many valid reasons to seek out a second career right before retirement. Some people opt to take on a little more work to save a little more money. This money allows them to make payments towards their current mortgage or a put a down payment on a downsized home. Tying up financial loose ends is important before retirement.

Other people look for a second part-time career before retirement that they can use to taper themselves off of career life – they’ll stick with the second gig even after they’ve retired from their main career.

There are many important financial moves you should consider before you retire, and pursuing a second career might be one of them. No matter why you’ve chosen to pick up a second career, there are a few smart ways to help you get your foot in the door.

1. Go the Freelance Route

If your career involved a set of skills that can be used in a variety of ways, you can always take to freelancing. If you have decades of experience under your belt, people may be happy to hire you as a consultant. You can also make a freelance career out of proofreading or editing documents specific to the industry you have expertise in. The best part of freelancing is that you set your own rates and your own hours, so if you’re currently working a set schedule with your main career, you won’t need to worry about schedule conflicts.

2. Make Money Doing What You Love

Many people decide to monetize their hobbies in retirement. There are a wealth of ways to monetize hobbies. You can grow and sell herbs, produce, or flowers if you’re a gardener. You can sell woodworking crafts or creations you’ve sewn. It’s easy to set up a marketplace for your handmade goods on the internet. Many websites exist specifically for people who make their own goods to retail them safely and easily.

3. Build Something with Your Family

If you’ve always had a dream of starting your own business, you might feel like you’re running out of time. That feeling is disheartening, especially since retirement might be the only part of your life where you feel as though you’ve had enough freedom to start a business. If you have a family, you still can. You can become a part of launching the business you’ve always dreamed of if your family members are equally committed. After you retire, you can leave things in their capable hands. You can remain a chairperson and still receive income from the business long after you’ve stopped working.

4. Network Through Volunteer Work

The gift economy can create a perfect entryway into a new career opportunity. If you volunteer or give back to your community, you might be able to secure a paid position within the organization that facilitates or accepts that volunteer work. Many retirees find that positions like these are rewarding ways to spend their time after they’ve retired. Starting before retirement and continuing after retirement will keep you seamlessly active and involved in your community.

5. Look for Seasonal Opportunities

Seasonal jobs are excellent for retirees, especially if they don’t want to give up work entirely. It’s easy to find seasonal jobs on job boards. Retail opportunities spring up by the dozens between October and December. While they don’t pay remarkably well, they’re usually fairly simple jobs. If you can help customers complete transactions or stock shelves, you’re likely the perfect candidate for seasonal retail positions.

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About the Author

Anna Ashmore is an avid careers, finance, and self-growth blogger. Interested in unique ways of becoming financially independent, Anna is currently writing on behalf of Brighter Finance, experts in the field of wealth management. She is often found online, sharing her tips and suggestions with others.

LTC News Contributor Anna Ashmore

Anna Ashmore

Contributor since December 26th, 2018

Editor's Note

Thinking about what you will do after retirement is very important. Part of that planning should include addressing the financial costs and burdens that come from aging. Longevity means health issues or frailty. This means there is a good chance you will, at some point, need help with everyday living activities or supervision due to cognitive decline.

The challenges on your family and your savings will add stress and burden on everyone in your family. Caregiving is hard on loved ones and paid care drains savings and adversely impacts income and lifestyle.

Sure, you don’t want to need long-term care services but statistically there is a good chance you will. The better your health just means you will live longer. Long life means a bigger risk of suffering from some type of dementia. If you have some health issues you may also need help with activities of daily living. These are things like bathing, dressing, eating and going to the bathroom, to name a few.

An easy and affordable solution is to include affordable Long-Term Care Insurance to your retirement plan. It is best to do so prior to retirement when you can enjoy much lower premiums and even preferred health discounts.

You might read elsewhere that premiums can be expensive. The fact is these policies are very affordable, especially if you design an appropriate plan with a qualified Long-Term Care Insurance specialist. 45 states offer special policies with extra benefits. These are Long-Term Car Partnership policies which provide additional dollar-for-dollar asset protection.

If you have assets exceeding $1.5 million you may want complete asset protection. There are plans which provide UNLIMITED long-term care benefits. Some even come with death benefits.

Start your online research by finding the current cost of care services in your state and the availability of partnership plans and tax incentives.  Find your state on the LTC NEWS MAP by clicking here.

You can find a recommended Long-Term Care specialist by clicking here.

Long-Term Care insurance is easy. affordable and rate stable come and asset protection. It will give you and your family peace-of-mind as you enter the second phase of life.

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