A growing trend shows that many Americans are taking on new jobs after their “official” retirement. For the most part, it’s because they need the extra cash — but some retirees are simply bored. Whatever the reason, an increasing number of seniors are clocking in and bringing home the bacon for many years after retirement.
According to the U.S. Department of Labor, the number of employed Americans between the ages of 65 and 90 has mushroomed in recent years. As a matter of fact, 6.4 percent of Americans aged 75 or older (more than one million seniors) were still working in 2006. That was up from 4.7 percent just 10 years earlier.
So, what exactly are these retirees doing to earn some extra income? Here are eight of the most popular post-retirement jobs.
1. Consultant
If you were an expert in your field during your working years, why not sell that expertise to other companies after you retire? As countless retirees are realizing that their hard-earned skills and knowledge are highly marketable, many of them are jumping into the consulting business.
For example, let’s say you are the most practiced marketing guru in your company. After you retire, you could offer your marketing services to other businesses — or even your old company. And here’s the real kicker: as a part-time consultant, you can charge hourly rates and earn as much or even more than you made when you worked full-time. Plus, as your own boss, you can pick and choose which projects you want to tackle.
2. Caterer
After inhaling your scrumptious homemade lasagna and savoring your mouthwatering caramel apple pie, do family and friends often say things like, “This is delicious … you could sell this!” If so, catering may be the ideal post-retirement career path for you.
Many retirees who are whizzes in the kitchen are starting their own catering businesses. It gives them the opportunity to turn their favorite pastime into a profitable business venture.
Let’s say your 6-year-old granddaughter has more business smarts in her little finger than you do in your entire body. No problem. You don’t have to start your own catering business to earn some extra dough. You can always offer your valuable services to other local catering companies. That way, you can cook and bake until your heart’s content without having to deal with the accounting and marketing headaches a business owner must face.
