Now that you’ve retired, it’s time to decide what type of retirement you want to have. You can keep working, spend more time with family, or take a step in a completely new direction. There are so many opportunities after retiring.
If you’re thinking about going back to work or finding a new job, here are some things that you should know:
- How to Polish Your Resume
Unless you’re just continuing employment into retirement, you’ll probably need to do some interviewing. In that case, it’s time to grab your resume and update it with your latest experiences.
Include the last 10 years of your working experience on your resume. Anything older is less likely to be relevant to the position that you’re applying for.
Don’t be afraid to make your resume tailored to you because employers are looking for a good fit for both the position and the company. This goes beyond the basics criteria of making sure that you have the skills to complete the job. Job-related interests, personal projects, or volunteer work give your interviewer a well-rounded idea of who you are.
- How to Account for Social Security and Medicare Benefits
The two motivations for working through retirement are usually financial need or boredom. If your motivation for working past 65 is purely financial, you need to know how it affects your social security and Medicare benefits.
If you’re retiring earlier than your full retirement age and decide to supplement your side-hustle or other employment income with Social Security benefits, your monthly social security checks might be reduced.
Benefits are reduced depending on your age and how much you earn, so you’ll need to check out resources from the Social Security Administration to make sure that working post-retirement is financially worth it for you.
Working can also affect whether or not you should disenroll from Medicare Part B. While you can keep your private insurance and enroll in Medicare, having both may not be worth it for you.
However, if you’re working at a small company with less than 20 employees, you are not eligible to disenroll from Medicare Part B. If this is the case and you delay Medicare Part B enrollment, you’ll incur fees every year you delay receiving this healthcare benefit.
- How to Fill Time if Full-Time Work Isn’t For You
You may decide with all these variables in mind that working full-time through retirement isn’t for you. If this is the case, consider other methods of earning money, such as part-time work, freelance gigs, or starting your own business.
Volunteering throughout your retirement is also a great way to gain skills and give back to your community. You can continue to enjoy your freedom in retirement and work with local organizations that are important to you..
There are many resources out there to help you decide how to spend your time in your retirement. Most of us decide to go back to work, so you’ll probably need some help brushing up on your job search skills. Check out the visual below for more tips about working after you retire.
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