Working in Retirement
What to consider before starting a post-retirement career
Many baby boomers are interested in working into retirement in an entirely new career that they may have been unable to try their hand at until now. Though it may seem appealing, you have to make sure that you're entering into the new job with the right amount of knowledge to make it a success, according to SmartMoney writer Catey Hill. She recently shared a few tips on how to do just that.
Of course, finances should be your chief concern. Whether you're looking to go back to school, start your own business, or simply take a position you love at a lower-paying job, there is always money to consider. Those looking to start their own businesses should know that most start-ups enter into their operation with $50,000 capital. For those just looking to take a different job, health insurance and other benefits should weigh heavily on your decision.
In addition to ironing out your finances ahead of time, Hill writes that you should be absolutely positive that you like the job you're entering into. Luckily, there are a number of ways to find out, whether through moonlighting or volunteering. Kerry Hannon, who wrote a book on the topic, told the website that even if you're not getting paid for your stint of work, finding out if you really like what you're planning on doing ahead of time is invaluable.
As a final preparation, you should also be sure that you're qualified for whatever job you'd like to pursue. In this case, even if you don't instantly have the skills, there are many ways to acquire them. Going back to school for some classes is always an option, Hill writes, and will also foster an appreciation for lifelong learning.
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