Unretiring is becoming a trend among seniors. It used to be that when you hit retirement age, you left the workforce without looking back, but now many seniors are returning to the labor market. With more Americans worried about outliving their savings, as per a recent report by the Transamerica Institute, 48% of retirees who are working felt the need to due to financial reasons, according to a T. Rowe Price Retirement Saving & Spending Study.
As the older population decides to work longer, here are five part-time jobs to consider for supplementing income while maintaining a flexible schedule.
Airbnb Host
Staying social and active can be difficult during retirement, but hosting an Airbnb can be an ideal way to meet new people while supplementing income without leaving your home.
“If you have extra space in your home or a vacation property, renting it out is a great way to generate extra income,” said Kerrie Carden, financial planner and founder of Equip Advisory. “Plus, you can control the rates,” she said, and how often you have guests.
How much you can make depends on several factors, such as location, amenities, property type and whether you charge a high cleaning fee.
Career Coach
Use your connections and insight to coach others and help people find a job in your field of expertise.
“Retirees tend to have a lot of experience in at least one domain, if not many,” said Brian Pulliam, founder of Refactor Coaching.
The semi-retired career coach spends his time helping younger generations navigate their way through their job search.
“There are a lot of employees in their 30s who would love to have someone outside of their employer to use as a sounding board, help them with blind spots, and avoid the common pitfalls you know to watch out for,” he stated. “I love the flexibility it offers. It’s also a great way to build social connections and find a sense of purpose, which is something that can be a challenge for retirees.”
According to ZipRecruiter, the average hourly rate for a career coach is $22.
Library Greeter
If you love reading and chatting about books, a library greeter is an exciting way to spend an afternoon.
“It’s a good option as it lets you stay happy while working,” Carden said. “For library workers, the job is relaxing enough but also gives back to the community; it also doesn’t require heavy physical work.”
According to Indeed, library greeters earn an average of $14.87 an hour.
Substitute Teaching
For retirees searching for a meaningful way to spend their time while making extra money, substitute teaching is flexible and provides several options.
“In my experience working with school professionals, I’ve seen retirees pick up one-day or long-term assignments at schools ranging from kindergarten to high school — there is plenty of variety, and you get to decide when and where you want to jump in,” said Kayla Norflus, senior recruitment marketing specialist with The TemPositions Group of Companies.
“I’ve had retirees tell me that subbing wasn’t just a way to earn some extra cash — it gave them a whole new sense of purpose. Plus, the kids love having someone with real-world stories to share. It’s a win all around,” she said.
The average hourly rate for a substitute teacher is $20, according to ZipRecruiter.
Tutoring
Another great way to use your skills in a fulfilling way is to tutor. Tutoring is a great part-time job, whether your talent is teaching a language, music or helping someone get ahead with math, science or English.
“The sessions are tailored to each retiree’s needs, and retirees can work as much or as little as they choose,” said Mason Farmani, intuitive persona and corporate life coach. “The opportunity for continued learning keeps retirees’ brains sharp because tutoring builds critical thinking and problem-solving abilities. Also, tutoring is rewarding emotionally because retirees can see how their students develop and excel, making a difference in their lives.”
Retirees can work with students online, out of their homes or in schools, so there are various ways to earn extra money as tutors while keeping a flexible schedule. According to Indeed, the average hourly rate for a tutor is $24.12.
