Let’s face it, if you have been in employment all your life it can become a bit difficult to adjust to life after retirement.
You suddenly find yourself with so many hours to while away, because you were used to of getting up in the morning and going to work. At that age, the children have probably left home and you really have nothing much to do with your time.
For other people, it may be that when they were in employment, they did not put aside anything for the retirement years. Bad investments and not paying attention to things like CRA collections, or keeping a watch on the credit scores lead to a situation that after retirement they have no money to fall back on.
Many senior citizens may, therefore, find themselves needing to back to work. There are many options that you can pursue,for example, become a consultant in your area of expertise.
The reason behind why you are going back to work will be thedeciding factor on what kind of work you’re looking for. If you are going back to work just to get rid of the empty hours, then you may want to consider something along the lines of consultancy.
This will give you a lot of leeway in your timelines, and the best part is that you decide when you want to work. This means that if you want to do a little fishing over the weekday or play some golf you have that flexibility.
If you are going back to work because you need the income, you will find you that you have to take on more hours thus less flexibility. You may even consider going back to a 9 to 5 job just to make some money.
If you are very lucky, some companies can actually retain you but this is largely dependent on what kind of a worker you were and whether your leaving left them without someone to fill in the role.
You can negotiate for less working hours or ask to work remotely,but this depends entirely on the kind of work you were doing and the relationship you have with your employer.
Start your own business.
The other option is to start your own business. This could include consultancy or it could mean starting a whole new line like running a shop or turning your hobby into a money-making venture.
The experience you will bring into the business will give you an advantage.
However, be ready to face stiff competition from younger people who may be more tech-savvy than you are and therefore able to take advantage of different avenues like online platforms.
You will, therefore, need to invest your time in some research to see which areas you need to improve upon in terms of your skills. You can also offer to mentor young people in your area of expertise so that you get a chance to impart your knowledge to younger people.
Retirement does not have to be bleak, find a way to make money so that you continue to feel useful. If you have investments in real estate, you can now move full time into managing your property, so that you do away with the cost of hiring people to do it for you.