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How to Find a Retirement Job

By U.S. News & World Report

Many of us are nearing the magical date of retirement. That might mean you’ve accumulated thirty years on the job or have hit “the number” in your retirement accounts. Or perhaps you’re nearing a particular age, such as 60, 62 or 65, when you can begin drawing on various sources of retirement funds.

But it’s difficult to know when you are truly ready to retire. Sometimes it makes sense financially to retire and lock in a pension. But often that’s not enough money to get by, even when combined with your savings. Other times, money isn’t the issue, but you realize that you’ve worked every year of your adult life, and you want to change to some other sort of activity to keep things fresh. You might want to do something more fulfilling, or join an organization that makes you happy to be a part of it.

Most of us know a retiree who, after a year or two, discovered that retirement is not all it’s cracked up to be. Without the driving requirements of their old work-a-day lives, they find themselves bored, out of the loop and lacking fulfillment in their daily life. Sadly, if nothing changes, the retiree often becomes inactive and soon health begins to decline, both mental and physical.

A sense of involvement in a community or organization can help you feel better overall. Taking on work (including volunteer work) in retirement can prevent boredom and help you feel included and like you are doing something meaningful with your time. Here’s how to tell if work would be a valuable addition to your retirement years:

The many benefits of work. Think about why you are considering working in retirement. It might be because you need extra funds for your retirement accounts or living expenses. But work also provides fulfillment, intellectual stimulation, a feeling of being included and even just a reason to get out of the house. These social benefits can be as valuable as a paycheck to many retirees.

Look for flexibility. Retirees might want to include lifestyle considerations in their job search. You could choose to work year round or only seasonally. You might want to work around your plans for traveling. Some companies, such as Home Depot and CVS, allow you to split your job between two different stores. For example, if you want to work for the same company in Wisconsin in the summer and Phoenix in the winter, some companies can make arrangements like this.

Think about your dream job. Try to imagine the best possible work scenario. It may be a job that provides health insurance and retirement benefits, or perhaps you want flexibility of schedule so that you can make it to your grandchildren’s activities. With a goal in mind, it will be easier to think of the possibilities for your retirement job.

Enhance your skills. No matter what type of job you choose, there are a couple of things that you’ll want to make sure you do to prepare yourself. Keep your technology skills up to date. If necessary, take a course at your local community college to update your skills for the intended job. This is especially important if you’ve been out of the job market for a while.

Manage your expectations. Nothing happens as quickly as we envision. Don’t get discouraged if your first forays don’t immediately pan out. Depending upon your job goals, you may need specialized training, and this could take a while to accomplish. The first job you try may not end up being your ideal retirement career.

Learn to network with others. Networking is a learned skill which can be difficult for some folks. But it remains the single best method for finding job opportunities. There are many ways to learn about networking, but eventually you have to just get out there and do it. Start with your current circle of acquaintances, letting them know that you’re looking for opportunities for new experiences. See where it takes you.

A long career in one field doesn’t necessarily mean you should do a similar job in retirement. Retirement can be a time to switch roles into a job that suits your interests and leaves you with ample leisure time. You’ve earned the right to be happy with your work.

Jim Blankenship is a certified financial planner who blogs at Getting Your Financial Ducks in a Row .

More from U.S. News

10 Retirement Lifestyles Worth Trying

The High Costs of the Retirement Dream

10 Retirement Rites of Passage

How to Find a Retirement Job originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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