When you go into retirement, you make the assumption that you are going to stay there. However, you may have decided that it was too early. You may be bored or you may not be in the financial situation you thought you would be.
Now you have a decision to make. Should I return to the workforce? And when you decide to start clocking in again, where exactly do you start?
Figure Out Your Budget
The first thing you have to do is figure out what your budget is. How much money do you actually need to bring in each month? This is going to be an individual calculation because you may have Social Security, 401k, a pension, and various other forms of income coming in.
Once you figure out how much you need to make, you can determine what kind of job you are going to get.
If you worked any kind of government or professional job, you can explore being a contractor. An organization will likely hire you on a contract basis. While you won’t obtain any full-time benefits or be eligible for their 401k, you will be able to make a good living. One of the main benefits to being a contract worker is that you may only be signed on for 3, 6, or 12 months at a time. This gives you the chance to earn money without committing yourself to the job for an extended period of time.
At the end of the contract, you can evaluate your situation again and then decide if you are ready to retire or if you want to sign another contract.
You may have the ability to work as a consultant, depending on what your past work experience consisted of. This is something that you can do on your own, setting your own hours and your own rate. You may have a lot of experience in logistics, financials, accounting, interior design, or something else that can be beneficial to others.
There may be companies willing to pay top dollar for your knowledge and this gives you the chance to enter the workforce again without having to deal with age discrimination or having to fit into a particular work environment.
The Part Time Job
There’s also much to be said about grabbing the part time job where you will only have to work 10 or 20 hours a week. You don’t need a lot of experience and you most likely won’t have to worry about being stressed on the job. While there are plenty of opportunities out there, you have already had your fair share of careers and jobs over the years. Choose a place where you are going to get some fun perks, such as working at one of your favorite stores where you can get a discount.
What you choose to do is entirely up to you. There are options when you decide to come out of retirement, though you have to figure out just how hard you want to work and what you need to be earning.