Jobs to do for Retirees

Seems more and more people are having to look for work after retirement mainly due to their pensions not meeting the needs of a decent income in retirement.

Retirement means different things to people of all ages especially across the generations, early baby boomers who are now in their 70’s now, do not really expect to do much apart from hopefully being able to afford a beer or a cheap breakfast out a few times a week and visiting grandchildren, whereas the average Millennial would expect to be more active and retire earlier than their Boomer counterparts and do more with their time.

Either way a large percentage of either generation have not saved enough for retirement and will have to do extra jobs to realise their dream retirement of having enough and not worrying about money in their twilight years.

The Financial Times reports on analysis from the World Economic Forum which puts the UK pension savings gap at £25trn by 2050 if action is not taken soon.

The pension savings gap is defined as the shortfall between current retirement pots and the amount of money needed to maintain an income of 70 per cent of pre-retirement levels.

So, with this in mind, what job are you going to do when you retire? Sounds like an oxymoron however we must all start to be realistic.

Here are some alternatives:

  • Retail Positions. These jobs don’t pay high salaries, but they do offer flexible schedules. Plus, they exist everywhere.
  • Call Centre Jobs. In a call centre, employees spend most of their time sitting and talking on the phone, which can be great for seniors with low mobility. In fact, a number of companies allow customer service representatives to work from home.
  • Teaching Assistants and Tutors. Retirees who enjoy working with students might enjoy being a teaching assistant or a tutor. Universities sometimes hire teaching assistants for a small hourly wage or a flat fee. Tutors, on the other hand, can be self-employed or work with a larger organization.
  • Childcare Services. Childcare remains a constant need for busy families. You can babysit as needed for friends, family, and neighbours for extra income, or offer daily childcare services in your home.

Online work

You can start a website and sell products, you will have to spend time on seminars and learn about web design and social media and online marketing as a whole, and it does take time and a lot of effort to be seen above the billion plus websites out there, but it beats staring out the window wondering when death will come!

pensions online jobs

Granny having to work

If none of the above alternatives rock your boat and you had dreams of sitting on a beach and taking your grandchildren to Disneyland, well then you had better get your pensions in order now.

Compound interest is your friend

You may think this is a term the Credit Card companies use to ruin your weekend when your statement comes, but it really should be your best friend, if you understand time, growth and patience, then you will see a good return. Exponential growth is another term, a simpler explanation is the snowball:

Remember as a kid your started to roll a small snow ball and it was hard really work and you thought about giving up, then it started to get bigger and bigger as the surface area grew picking up more snow by itself as you rolled it, until it just rolled off by itself and continued to grow enormous, well it did if you had the patience to start it and the tenacity to keep rolling.

Sadly we still do not see financial acumen rolled out to school curriculums, If you are a bit of a conspiracy theorist then you will feel that it is planned because the elite have always gotten  richer of the back of middle class ignorance, and all poor people want to be middle class and all middle class hate the rich as they pay for the majority of all taxation, so if our children were taught to put away some every day from the very first job they ever did and learn how to invest and take counsel with experts and have the gumption and patience to wait for the exponential effect to happen in the last few years, to trust the undeniable science and mathematics of numbers and interest, then they would soon become the elite themselves and change the world order!

If you are an expat or UK resident relying on a state pension or your pension company in UK to have a decent retirement then you need to go out once in a while and speak to people who are ‘surviving on 160 GBP a week, or the thousands of hard honest workers who have trusted UK Blue chip companies like British steel to give them a decent pot of money to draw down on each week and see what they can get for the money they have.

Expat pensions advice

Decent retirement?

If you don’t fancy winters sat around a 2-bar gas fire and cheap bottles of plonk from Aldi, and trudging out to your call centre or shop for work each day in your 70’s with your arthritic knees or posting your comings and goings on Facebook and writing blogs like essays you did at school in the 1950’s then give our residential financial experts a call who are also UK certified and registered in Asia to give sound advice on UK private pension pots.

You would not believe the magic they can do with compound interest and maybe even snowballs!