Wednesday, 12 August 2015

You've officially retired. Perhaps you took time off to travel, and to work around your home and be with your family.

But for many retirees, something's missing—and that something is usually work. According to CareerBuilder's 2015 retirement survey, 54 percent of workers 60 and older say they will work part-time or full-time after their retirement, and lucky for them, 54 percent of employers hired mature workers in 2014—up from 48 percent in 2013. Kerry Hannon, retirement expert and author of "Love Your Job: New Rules for Career Happiness" and "Great Jobs for Everyone 50+,"  says that depression is common in retirees when they haven't found whatever their purpose is. "There's this sense that you need a reason to get up in the morning—they want to be relevant," she says.

Find your niche

Retirement is the perfect time to think hard about what the dream job is, and how to make it work—especially if money isn't an issue. Hannon suggests exploring the following kinds of second careers, which place a premium on experience:

  • Nonprofits
  • Trade associations
  • Startups
  • Small businesses

If your vision of retirement is more about having fun, Hannon recommends:

  • Ushering at sports games
  • Working at National Parks
  • Taking an RV host spot so you can travel and park for free

The other category of jobs Hannon calls "riding the age wave"—jobs for people in their 50s and 60s helping older folks with any specialized services they need, like driving, exercise, home modifications, massage therapy—the list is almost endless. And of course, there's always the option to start your own business—but make sure you know what you're doing before diving in headfirst, Hannon says.

Work on your own terms

Don't expect to make as much as you did when you were working at your old career. But you'll be more likely be able to negotiate your terms, or find a place that better suits what you're looking for. "Most people in this age cohort want to have some ability to telecommute or flextime, work a couple days a week—maybe a longer day if it's an office job or be able to work from home part of the time, just be treated like a grown-up," Hannon says. You can even negotiate more vacation time, or for other little perks that have a lot more value to you in retirement.

Another plus to having a little income on the side is that the longer you can wait to delay your Social Security benefits,  the more you'll get—an 8 percent bump each year from retirement age up to 70.

Freshen up

There are some things that are mandatory for going back to work. First, get your LinkedIn profile current, and make sure your public-facing Twitter, Facebook, and any other accounts are portraying you in your best light. "You want a good photo, you want to show that you're active in LinkedIn groups, that you're an expert in your field, if possible. That's so helpful in job hunting, too," Hannon points out.

If you've been in a field like marketing, advertising, journalism, or communications, it's essential that you have a working knowledge of social media. If you can't find someone to teach you, community colleges generally have courses to help you learn these essentials. In an interview, you may have to prove that you're a team player—and not the old codger who will tell anyone passing by, "Well, in my day, we did it this way?" Though you do bring experience and expertise, you need to show that you're still enthusiastic, willing to listen, and happy to learn new things.

"It all comes down to respect, but you have to be careful in interviews not to date yourself in your language, in your references to something you did three decades ago," says Hannon. "Nobody cares."

However, there's at least one thing that was true fifty years ago and is still true today: First impressions count. "Ageism is alive and well," Hannon says. "Go shopping, get current clothes, get new specs, get your hair cut, whatever you want to do. If you want to dye your hair, by all means, do." She also says you should get physically fit. If you're fit, you'll give off a vibe that demonstrates the kind of energy and enthusiasm they're looking for.

Finally, Hannon recommends the following resources for senior job searchers:

 

 

Securities and Insurance Products are NOT deposits, are NOT FDIC insured, are NOT bank guaranteed, are NOT insured by any federal government agency and may LOSE value.

The content provided is for informational purposes only. Neither BBVA Compass, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial advisor about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA Compass or any of its affiliates.

Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA Compass does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards.