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Remaining in the Workforce
Many people are quick to assume older adults are retired, but the fact is, millions of Americans age 65-plus work either full or part-time.
The reasons for remaining in the workforce—or re-entering it—can vary. For many, it’s a matter of necessity, especially in the aftermath of the Great Recession, when many people lost their jobs, homes and retirement savings. For others, it’s a matter of choice to stay active, challenged, and engaged in their communities.
Key Takeaways
- For many people, reaching age 65 means retirement. But for others, working later on in life is necessary to maintain their financial security or to avoid boredom.
- If you do continue to work past age 65, not all jobs are going to be as desirable for you.
- We go through a few of the most popular jobs for older individuals in the workforce.
Popular Jobs If You’re 65-Plus
Most people who work past the age of 65 do so in “bridge” jobs that span the period between leaving a career and leaving the workforce altogether.
Thinking about working after retirement age? Here are six popular jobs for people 65 and older.
Accounting/Bookkeeping
Accounting and bookkeeping clerks use specialized computer accounting software, spreadsheets, and databases to post financial transactions and produce financial reports, such as balance sheets and income statements.
Adjunct Faculty
Part-time faculty (“adjuncts”) accounted for a significant portion of the instructional faculty at nonprofit colleges and universities—and you don’t always need a Ph.D. to snag one of these teaching jobs. While the pay is generally low—perhaps only a few thousand dollars per course—many retirees find the work fulfilling. Plus, once you’ve taught a course a couple of times, you won’t have to devote as many hours to class prep.
Event Coordinator/Planner
Even if you’ve never worked as an event planner, you may have planned (or helped plan) dozens of events over the years: birthday parties, weddings, anniversaries and the like. You can put this experience to work to find a job or start your own business, tapping into your network of friends and family. Job growth between 2019 and 2029 is expected to be 8%, compared to an average of 4% growth across all occupations, and the median pay was $24.33 per hour in 2019, according to the Bureau of Labor Statistics.
Project-Based Consultant
Rather than filling a full-time position, many companies will find a consultant to help with a specific project. This can be an excellent way to put your decades of experience to work without committing to a full-time job. Depending on your skill set and experience, it’s possible to earn upwards of $50 or even $100 an hour.
Retail Sales
Retail salespersons held about 4.3 million jobs in the United States in 2019, according to BLS data—in general merchandise stores (19% of all retail salespersons), clothing stores (16%), building material and supplies dealers (10%), sporting goods, hobby, and musical instrument stores (6%), and automobile dealers (6%). Nearly one in three retail workers was employed part-time in 2020, and the median hourly wage was $12.14 for retail salespersons, as of May 2019. These jobs may have an added perk: employee discounts for the products your store sells.
Teacher's Assistant
Teacher assistants (or aides) work under the supervision of a licensed teacher to give students extra attention and instruction. They may work with an entire class, in small groups or one-on-one in elementary, middle and high schools, preschools, and childcare centers. The BLS estimates job growth of 4% between 2019 and 2029 and the 2019 median pay was $27,920 per year. Many teacher assistants work on a part-time basis, and in most school systems, you’ll get your summers off.
What Are the Best Retirement Jobs?
The best retirement job for any individual will depend on their specific preferences and needs, including schedule, finances, ability, and qualifications.
Recently, the National Bureau of Economic Research published a paper on the rise of age-friendly jobs, prompted by the gradual increase of workers over the age of 50. The most age-friendly occupations typically involved strong interpersonal skills over physically strenuous elements. These include: transportation and reservation agents, receptionists, sales workers, and secretaries, labor relations managers, and proofreaders.
What Is the Best Income When Retired?
Retirement income can be composed of many different elements, depending on how you have socked away funds prior to retiring. Some retirees will draw from their retirement savings and work a second job for additional income.
Retirees who have contributed to Social Security can withdraw benefits, with a boost if they elect to begin doing so later in life. You may also have saved up money through tax-advantaged accounts or employer-sponsored savings programs, such as Roth IRAs, traditional IRAs, or 401(k) accounts. Many who work in public service may also be able to rely on pension payments. There is no single best type of income in retirement, as the most financially advantageous source depends on individual needs and circumstances.
What Percentage of Adults 65 and Older Are Employed?
If you are working after the age of 65, you're far from alone. According to the Pew Research Center, one in five adults over the age of 65 are employed. Older adults aren't just working more, they're also earning more, averaging $22 per hour in 2022 compared to $13 per hour in 1987.
The Bottom Line
More people are working past retirement age for extra cash, to stay active and challenged, or some combination of reasons. Some switch to new jobs within the career fields where they worked for years. For others, however, a retirement job means trying something entirely new.
While the jobs listed here are popular among the 65-plus crowd, there are, of course, many other options for older adults, including working as a member of an event staff team (think: music and sport venues), a tour guide/docent, a patient advocate, or an online or in-person tutor.
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