Adult Seniors Seek Retirement Income Security

In last Sunday’s paper, I read a nationally syndicated columnist address the issue of part time income in retirement. He confirmed organizations that offer to set you up in business for a small fee are usually scams and should be avoided. The columnist then suggested the solution was to find a part time job doing retail. This solution to part time income was both limited and inane. First of all, retail has been hit hard in the recent economic down turn, so it’s just not a viable option for quick short term money.

Retirees make up a broad group of people with a wide range of skills and talents. As they have watched their savings plummet over the last few months, many retiring baby boomers and persons older are looking for retirement work. Some need to augment their retirement income security. Many active adult seniors are looking for ways to turn activities, hobbies and other interests into ways to increase retirement pay.

Over the next few days, I am going to compile resources so the new senior can generate income through either part time jobs (working for someone else) or starting a part time business. There are amazing activities, seniors have engaged to create new retirement careers. Some have found interesting ways to be of service to others, turn adult homemade crafts into salable products, or shift a passion into a way of making money.

Please share websites, books, experts and examples of how retired people work to increase their income. I’m looking for creative examples; turning hobbies into income, earning money while contributing, income while traveling, project based or part time work. I’m looking for examples of what people can do, not how to get a job or start a business.

Emotional Calculator: Retirement and Money

Last year I started approaching authors whose books I thought would be of interest to my readers at Retirement Life Matters. One of those authors’ was Brenda Hendrickson who wrote a nicely compact book called, How To Be A Frugal Millionaire: Eight Simple Steps to Creating Personal Wealth. Initially, the idea was for me to read the book and then provide a review on the website, in my newsletter and in my blog. Then if Brenda wanted to continue to add articles to RLM, she could do so. In addition, Brenda has a developed a free online series called How To Be A Frugal Millionaire,” which was delivered to my inbox.

Unfortunately, I never fulfilled my end of the bargain, which was to read the book and provide a reivew. At first, I used the excuse that I was busy and didn’t have the time to read the book. As time wore on and I began to feel guilty, I realized there was more to it. When I stopped to analyze the situation, I realized I hate the word frugal. In my mind, frugal means to do without.

Lest you think, I’m a consumption driven boomer who shops at the drop of hat, let me assure I’m not. I would say I’m very conservative financially. In looking up to word frugal, one definition is to ‘avoid waste,’ which I think is wonderful. Somehow I associated frugal with deprivation. So, while I don't want to indulge myself, the idea of being deprived isn't too appealing either.

The reason I share this story with you is twofold. One, I want to tell you about Brenda’s book. She offers some easy, common sense advice to live within your means. Something, we all need to learn how to do better, especially now.

I also want to share how emotionally charged is the discussion around money. Good depression era folks who always told me there wasn’t enough raised me. Even though I have worked on my abundance consciousness, if you will, there is still emotion that I haven’t been able to get passed.

What are you’re emotional issues about money and how do you mask them? Retirement often changes our relationship to money. Retirement costs are not just the dollars and cents but your own peace of mind. Understanding your personally feelings about money will help retirement work for you.

Retirement Work for the Over 55 Community

I’m delighted to report that I am quoted in a recent ABC News article about job search over 50.

Over the last few years, I shifted my focus away from career counseling and job search towards retirement life planning. There is an overlap between them, but it is different. Because of all the lay-offs and change in the economy, I’ve decided to incorporate more job search information in my blog and other writing.

I was reading the comments to the article and one woman lamented she’d been without a job for six years, had applied at ‘every site on the Internet,’ but had only had a handful of interviews.

I know what it’s like to be unemployed, to feel like you’re doing everything you know how to do and keep coming up short. It becomes so easy to feel like a victim under those circumstances. At some point in time, you have to also to evaluate yourself and the situation and say, “Something’s got to change.”

I don’t know this woman’s specific situation, but my first advice would be to focus her job search energy away from the Internet for awhile. She obviously is not conveying what she wants to communicate on her resume. Take it to friends, former colleagues and have them honestly review it. Call or email friends who are employed. Tell them you’re looking for XYZ type of work and to keep their eyes and ears open for suggestions. Be willing to do things differently.

As people get closer to retirement, jobs become harder to find. There are many activities seniors can do to improve their job search. Retired jobs a now very much in demand as retired seniors watch their retirement income security disappear.

We’re going to spend more time exploring what the over 55 community can do to create and find retirement work.

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