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Sketch Out a Winning Retirement Gameplan

Sketch Out a Winning Retirement Gameplan

After years of toiling away in the office, you’ve finally decided to enter into your glorious retirement years. You’re probably dreaming of relaxing days, visits with the grandkids, plenty of travel and lots of free time to explore new hobbies. Not so fast—before you clock out for the last time and bid farewell to your co-workers, you’ll need to sketch out a winning retirement gameplan.

As with every other major life change, retirement takes plenty of preparation. Not only do you need to figure out how you’re going to pay the bills—you’ll also want to prepare for the emotional and mental challenges many retirees face after leaving the workforce. Once you’re retired and have more free time, you may find yourself bored, isolated and even depressed.

Here are a few steps you should take to ensure your exit from the working world and entry into retirement is a smooth transition:

· Do your boss a favor: You may be tempted to take off running from the office as soon as you announce your retirement. However, it would be beneficial to both you and your employer if you stick around and help your boss find a suitable replacement. You may even offer to help train your successor. Not only will your boss be forever grateful, but this will help ease your transition into retirement.

· Draw up a retirement budget: Before you jump into retirement, you’ll want to make sure you have enough income to last throughout your lifetime. Sit down and figure out just how much money you’ll need each month for the next 40 years in order to maintain your current lifestyle. If you don’t think you have enough money in your retirement funds to cover these monthly expenses, you may want to rethink your plans. You might consider delaying retirement, exploring an “encore” career or picking up a part-time job.

· Consider health care expenses: Even if your employer offers a retirement health plan, you should set aside plenty of funds to cover the cost of health insurance. A company can take away these retirement health benefits at any time, so you’ll want to make sure you’re covered from every angle.

· Sign up for government aid ahead of time: Sometimes, it can take 90 days or longer for Social Security benefits or Medicare to kick in for eligible retirees. If you’re 65 or older, approaching retirement and want to start receiving benefits as soon as you stop working, you should sign up for benefits a few months before your official retirement. Visit ssa.gov or call 800-772-1213 to register.

· Plan now for retirement hobbies: Boredom is one of the biggest challenges many retirees face. But if you plan ahead to stay active, you’ll be much more likely to enjoy a full, rewarding retirement. Think about some new hobbies you’d like to pursue, sign up for volunteer work, register for some interesting classes or even consider a part-time job. You may also want to find out if your company offers an “alumni group” you could join. Many businesses arrange these groups as a way for retirees to stay in touch with other former colleagues. As long as you continue to take part in meaningful activities and feel like you have a purpose to your life, your retirement will be much more fulfilling and enjoyable.

Going Back to Work? Looking at Popular Post-Retirement Jobs

Going Back to Work? Looking at Popular Post-Retirement Jobs

When you think about retirement, you may imagine clocking out for the final time and telling your boss to take this job and shove it. You may dream about a carefree days at the beach or on the golf course and plenty of long visits with your grandchildren. However, many of today’s seniors are envisioning an entirely different type of retirement: one that involves more work.

A growing trend in the U.S. shows that an increasing number of seniors are working well into their retirement years, taking on new jobs after their “official” retirement. Whether it’s because they need the cash or simply because they’re bored, some of these seniors are staying on the clock for many years after their 65th birthday.

According to the U.S. Department of Labor, the number of employed Americans between the ages of 65 and 90 has skyrocketed in recent years. As a matter of fact, 6.4 percent of Americans age 75 or older (more than 1 million seniors) were still working in 2006. That was up from 4.7 percent just ten years earlier.

But what kind of jobs are these seniors taking on so late in life? Here are a few of the most popular post-retirement jobs:

The Same Ol’ Job:

Many retirees are simply staying put in the same job they’ve held for years. After all, it’s often easier to stick with what you know. Some ask their employers if they can work fewer hours and take on a smaller workload for a reduced salary. For many retirees, this option gives them the best of both worlds: they continue to earn some income, but they also win some extra time to take on new hobbies, travel and relax at home.

Consultant

Many seniors who were an expert in their field during their working years end up selling their expertise to other companies after they retire. For example, let’s say you are the most practiced technical guru in your company. After you retire, you could offer your tech services to other businesses—or even your old company.

Caterer

Many seniors dream of cooking and baking their days away after retirement. So, why not make it into a post-retirement career?

If you’re a regular Martha Stewart in the kitchen, you should consider starting your own catering businesses. If you aren’t quite willing to run an entire business on your own, you could always look for job openings with a local catering company. That way, you can cook and bake to your heart’s content without having to deal with business headaches.

Store greeter

Okay, so it may seem a little cliché, but these welcome wagon positions are still extremely popular with retirees. Not only is greeting a low-stress way to earn some extra income, but it’s also the perfect prescription for bored retirees who want to get out and socialize. Store-greeter positions aren’t just limited to supermarkets anymore. These days, businesses from car dealerships to electronics stores are hiring happy greeters to welcome customers.

Tour guide

You’ve been around long enough to know every historical detail of your hometown. So, why not share some of that knowledge as a tour guide?

If you’re a history buff, you may want to look into job openings at the local museum, a nearby historical monument or a sight-seeing tour. Not only are these part-time tour guide positions flexible and fun, but they’ll also give you an opportunity to socialize with interesting tourists from around the world.

Of course, these are just a few of the countless jobs seniors are taking on after their “official” retirement. From temp work to customer service positions and everything in between, there’s an abundance of jobs available for retirees.