Many older adults find themselves at a loose end after retirement. For one who is used to a lifetime of routine and fixed income, retirement can come as a massive blow. Most of the people do not know what to do with so much extra time. There is often a severe lack of money as compared to when they were working. This makes life more difficult for the elderly as they cannot pursue their passions because of high costs.
However, many companies in India are opening up to the idea of hiring older adults. Also, with the widespread use of the internet, many seniors are also able to work from home to earn an income after retirement. Older adults are becoming more aware of using smartphones and the internet. They can use it to their advantage and earn.
If you are a retired older adult and are wondering what you can do with your time or wish to have an income, here are some ideas you can use.
- Consultation/Freelance – Whatever field you specialize in, you can offer consultation services to potential clients. You can tie-up with other companies or freelance if you wish to work on your own terms. Consulting is a preferred job option for older adults because you have a wealth of knowledge and experience that you can share with others. You can also offer telephonic consultations from the comfort of your home.
- Tax Preparation – If you were an accountant, you must have come across tax preparations quite often at your workplace. Many people, even those in high positions, are unaware of how to prepare their tax statements and how to calculate the correct amount of tax. You can help out these individuals in tax preparation. If you have knowledge of the newly implemented GST, it is even more beneficial because even some smaller and medium companies are not conversant with it.
- Social Media Influencer – Social media influencers are those who give their opinions on brands/products on social media. Some influencers simply talk about their various experiences in life, both past, and present. Some explore new places or follow their hobbies. Social media influencers have a large number of followers and are influenced by these views. You can choose the medium of sharing your views – writing (blogs/Facebook), pictures (Instagram/Facebook), or videos (YouTube/Facebook). If you have big followership, you can earn money from it. You have to be consistent in posting your content. However, you can do it from home as well.
- Homestays – With the millennial generation traveling more in recent years, homestays have become more popular. Homestays are basically homes that are rented out to tourists who prefer absorbing the vibe of the place instead of staying in a hotel room. In fact, many young families traveling with older adults or babies prefer homestays as many of them allow self-cooking facilities. If you have some property that is lying unused or even a part of your home, you can rent it out as a homestay. Airbnb and MakeMyTrip are companies that allow you to advertise your property online. You can list out the facilities and amenities a tourist can expect and also your expectations so that you get the type of visitors you want.
- Tutor – If you have the knack of explaining your point to a person, you can consider taking up tutoring post-retirement. There are many students who need coaching in various subjects. You can offer coaching from home (batch tutoring), home tutoring, or even online tutoring. If you are into aesthetic arts like music and dance, you can tutor children or adults at your convenience. You can even turn into a yoga instructor if you are a yoga lover. Some older adults also take up English-speaking or soft-skills training tuitions for corporate employees.
- Reselling/Marketing – Reselling is selling products directly from the manufacturers to interested buyers at a profit margin to yourself. Though most resellers deal in clothes and household items, there is a huge buyer market for many items like jewellery, cosmetics, bags, shoes, and electronics. On the other hand, if you have a hobby that you think you can market well, you can earn income from that too. Cooking is a hobby that has widespread reach. You can market your cooking services in the form of home-cooked mess or specialized items like sweets and savouries during festivals. If you are fond of craftwork, you will again find a huge audience for your products. Knitting, painting, and baking never go out of fashion. Even if you love gardening, you can work as a part-time landscaping artist. All you need is your local WhatsApp group or Facebook Marketplace to market your products.
- Share marketing – Share marketing is the work where you invest money in company shares and monitor their trends. If you invest wisely and do not make any hasty decisions, there is a huge chance of getting good profits. You can trade online from your home or offline from a broker’s office. You can also buy shares for the short term (called trading) or long term (called investment). Apart from these, there are SIPs (Systematic Investment Plans) and Mutual Funds that you can explore. You can trade in stocks or currency. Share marketing is an interesting way to spend your time and also earn some income. You can decide how much money you want to invest and how much time to devote to it.
- Athletic coach – If you have led an active lifestyle before your retirement, or if you have pursued sports earlier, you can turn into an athletic coach. There are many parents who enroll their children in sports and other athletic activities like gymnastics, swimming, skating, etc. It is a lucrative field that will keep you active and fit as well.
- Senior assistant – Senior assistants are older adults who accompany other older adults on short excursions. Many times, the elderly need a companion to accompany them on trips to the hospital or the bank. Such companions are called senior assistants. They just have to go along with others and get paid by the hour or according to the work done. Many older adults also need someone to just talk with them and hear them out without judgment. Senior assistants are perfect for such work.
- Driver – If you know driving and love traveling, you can opt to work as a driver. Companies like Uber and Ola Cabs are always looking for drivers and cabs. If you have your own car, you can get a permit to use it as a cab. Otherwise, you could rent a cab from someone and drive in it. Cab services are in high demand in tier 1 and tier 2 cities especially during weekends. The best part of being a driver is that you can work as per your convenience and decide which customers you want to pick up, etc.
- Retailing – Another field where there are permanent vacancies are retail shops. Retail shops are almost always short of labour and are looking for experienced and willing workers. Retailing does not require any basic level of education and you just need to have a willingness to learn. As an older adult, you also will inspire the confidence of your customers and can market the products effectively.
- Babysitting/Pet sitting – If you love babies/pets, you can take this up as a career post-retirement. There are many families who wish to go out for a while without taking their babies/pets along (e.g.:- for a movie or to the mall). You can babysit or pet sit for that family for a short time and get paid by the hour. If you are an animal lover, you can also take dogs for daily walks.
How to Apply for a Job Post-Retirement?
There are job portals like Monster.com or Indeed.com that offer plenty of jobs according to your skill sets and preferences. UpWork.com and Freelancer.com work well for freelancing jobs as well. You can also spread your availability and willingness to work through word of mouth. LinkedIn is another platform where you can showcase your skills for free. You can update your LinkedIn profile with your complete experience details and also connect with business owners about jobs.
What to Look before Applying?
Always check the credentials of the company you are applying to. If it is a freelance position, make sure you are paid at least 50% of the amount promised. Go through the requirements of each job carefully and see whether you fit the position. Check the contract thoroughly before signing it and make sure you follow it through. Always keep emails or physical letters as the mode of communication instead of Facebook or WhatsApp messages.
Have you worked after retirement? Do share your stories with us!
Ask a question regarding Careers for Seniors: 12 Jobs That You Can Take Up Post-Retirement for Income