It's a common notion to see the older adults as retired citizens; but the reality paints a different picture. Millions of US citizens aged 65 or over are choosing to work, be it on a full-time or part-time basis. Age is merely a number for this demographic who remain actively engaged in the workforce due to various reasons. For a majority of these individuals, the 2008 financial crisis had a major impact, leading to loss of employment, homes, and retirement savings. Whereas, for others, the decision to continue working is driven by a desire to stay socially active, mentally stimulated and maintain a sense of purpose within their communities.
Most seniors choose a "bridge job", a term denoting a transition from career-oriented employment to ultimate retirement, post the retirement age, which is 65 as per the U.S. Census Bureau. The common job profiles deviated to, for those contemplating an employment post retirement are:
Accounting and Bookkeeping Clerks: They use specialized accounting software, spreadsheets, and databases to record transactions and create financial reports like balance sheets or income statements.
Part-time College Faculty: Also known as "adjuncts", they account for a significant portion of teaching personnel in non-profit colleges. Though the income may be low, many retirees find the work fulfilling. Plus, once you’ve taught a course on multiple occasions, less time is needed for class prep.
Event Planner: Retirees often step into event planning roles, using their years of personal event organizing experiences. Expected job growth is 8% for 2019-2029, higher than the 4% average across all jobs. In 2019, median pay was $24.33 per hour, as per the Bureau of Labor Statistics.
Consultants: Companies often hire consultants for specific projects, which is a perfect opportunity for seniors to capitalize on their years of experience and expertise without a full-time commitment. The hourly remuneration can range from $50 to even $100.
Retail Salespersons: As of 2019, approximately 4.3 million jobs existed in the retail sector in the USA. 33% of total retail workers were part-time employees in 2020 and the median wage was $12.14 per hour in May 2019.
Teacher Assistants: They work under a licensed teacher, providing students with increased attention and guidance. Growth is expected to be 4% for 2019-2029 with a recorded median pay of $27,920 per year in 2019.
The increasing trend of working after retirement isn't just about securing extra cash. Staying active, challenged, and engaged in their communities often motivates many retirees. While the jobs mentioned above see interest from those aged 65-plus, there are also several other possibilities including working as an event staff member, a museum guide, a patient advocate, or an online or personal tutor.