While some retirees have no choice but to keep working past the state pension age of 66 due to financial worries, others prefer to keep their brains active by still working but choosing to do fewer hours. Two thirds of pensioners due to retire in 2022 said they wouldn’t be givng up work completely – an increase of a third compared to 2020 – according to research by abdrn. But what are the best part-time jobs or side hustles for pensioners?
‘Flexiretirment’ or working part-time has become the norm among pensioners who find themselves unable to give up work completely due to rising inflation.
More than 22 million older Britons said their personal financial outlook worsened due to rocketing inflation last year, according to LV research, a figure that could be even higher now that inflation has soared since.
A popular option when it comes to part-time work for people over state pension age is to continue doing what one has always done – but to do less of it.
Going part-time before retiring completely may be the best of all possible part-time retirement jobs, claims New Retirement.
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Another good idea is to turn a hobby into a money-making business – whether its playing piano, making jewellry or gardening – older people could teach others how to do this and get paid in the process.
Alternatively, pensioners could make a decent income by becoming a consultant or freelance in the industry they have been specialising in.
“After years working in an industry, you’re probably filled with valuable knowledge and lots of experience to go with it,” New Retirement says. “But just because you retire, that doesn’t mean you have to stop working in your industry altogether.
“As a new retiree, your combination of talent and fundamental understanding of the job can help teach new people entering the industry. Start a consulting business and you could still work doing what you love, but with part-time hours. And if there’s work that could be done from home, don’t discount the possibility of freelancing.”
Consulting jobs pay an average salary of £79,899 according to LinkedIn, dependant of course on industry and years of experience.
Consulting and coaching — which are flexible, interesting, and often high-prestige — are ideal second careers for retired professionals, according to Harvard Business Review.
It states: “As a seasoned professional, you may have an advantage that your younger colleagues don’t: a network you’ve spent decades building, including other senior leaders who can hire you.”
While consultancy is well paid, competition is fierce, however many roles should allow retirees to work flexibly from anywhere around the world.
New Retirement claims the 20 best part-time jobs for retirees are:
1. Doing what you’ve always done, just less of it
2. Turning a hobby into a teaching opportunity
3. Becoming a tutor
4. Hitting the golf range and speak to contacts
5. Focusing on passive income
6. Offer consulting or freelance work
9. Pet sitting or walk
10. Working in a shop
11. Substitute teaching
13. Becoming a driver
14. Caring for the elderly
15. Trying seasonal work
16. Coaching a team
17. Becoming event staff
18. Getting a job on a cruise ship
19. Working on a campsite or holiday camp
20. Starting your own business.