For some people, the glory days of retirement aren’t all they’re cracked up to be. Some may find their income to be too limited, while others may simply be bored with all the hours in the day they have to fill. If either one of those situations applies to you, there’s always the possibility of returning to work post-retirement.
Your other retired friends may call you crazy, but if you’re really committed to going back to work, here are some things to keep in mind.
Crunch the numbers.
If you’re receiving a retirement income from your national system, going back to work may affect the amount you receive from that national program – not to mention increasing your income and putting you at risk of being in a higher tax bracket. That’s why it’s a good idea to talk to your tax advisor or to a financial planner about the implications of your return to work. They’ll help you crunch the numbers and figure out what your income and tax liability will be with things like retirement and pension incomes, taxes and all other items factored in.
Consider part-time instead of full-time.
Working on a limited basis can be a good solution for those who want to supplement their incomes without dealing with increased tax liability or lost incomes from retirement pensions. What’s more, working part-time will allow you to continue spending time with family and friends, and won’t be as physically taxing as full-time work. If your career involved working in a highly specialized field, look into part-time consulting work in the field, as well as taking on teaching or mentoring roles.
Make fitness a goal.
Like it or not, older workers are still discriminated against in the hiring process. If you’ve “let yourself go” since retiring, you’re not going to make a great impression on hiring managers. Many employers will be willing to hire an older worker, but they’ll want a sense that you’ll be physically and mentally fit for the work. Having a regular fitness routine will not only help you improve your appearance; it can also give you the stamina it can take to make it through the work day.
Modernize your image.
And speaking of improving your appearance, you may have to pay more attention to your online presence than you did when you were on the job market in the past. If you’re aiming for a professional position, be sure to have a LinkedIn profile that presents information about your background. Not having any online presence at all is going to set off red flags – or at least leave your prospective employers wondering.
Consider a skills-based résumé.
Skills-based résumés, as their name suggests, place the focus on your skills and abilities instead of on the exact dates of employment. For someone with gaps in employment, they can play down the fact that you’ve been off the job market for a while, and instead highlight why you’re great for the job. Skills-based résumés will still list your former employers, but that information will be positioned under a larger section that discusses your strongest skills and how they apply to the job at hand. If you need help, consider hiring a professional résumé writer to craft this innovative document for you.
Going back to work after retirement can give you back some of that day-to-day excitement, as well as supplementing your income, but be sure you’re ready for all the eventualities that this big change will bring about.