This question is best asked during your pre-retirement years, so that you can determine how much you'll need and expect to earn, and what skills, training or education you might need to stay employed. The answer can be a challenge because we tend to get locked into the career we've pursued over many years.
How much money will you need?
But remember, besides retirement employment, you'll have Social Security and retirement savings to rely on. So many feel they'll need and want to supplement their retirement income with about 25% of what their pre-retirement income was. Of course, that's a ballpark figure. The point is that you'll need less income from employment in retirement than you did before retirement. That lower employment income requirement opens up a lot of "outside the box" possibilities that can be quite rewarding.
Start by asking yourself what you are good at and what you like doing. If you enjoyed the position at which you ended your full-time career, might there be a role for you with that employer or in that industry as a consultant or part-timer? Did you acquire special knowledge or skills that would allow you to teach at a local community college or vocational school?
Places for retirees to work
AARP has identified several areas that are tailor-made for retirees who want to supplement their income:
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