part-time jobs

What to Do if You're Laid Off Before You Retire

Tim Lemke — Fri, 12 Jan 2018 09:30:09 +0000

You had a plan. You were going to work for a few more years, and head gracefully and gleefully into retirement. But your company didn’t cooperate. You’ve found yourself laid off, and wondering what to do next.

The job market is tough for older people, and if you are a few years away from your intended retirement date, you may be unsure of the best next steps. Can you retire early? If not, what jobs are out there for people your age? Do you even want to work full-time anyway?

Everyone’s situation is different, but there are options for older people who find themselves laid off before their planned retirement.

Look for a new full-time job

There’s no question that folks over 50 may have a tough time in the job market. Ageism exists, especially in fields where employers assume young people will have more technical skills. But it’s entirely possible to find a new position, and there are companies that will value the experience and knowledge of an older worker.

The American Association of Retired Persons (AARP) names several great jobs for people over 50, including accountant, personal trainer, landscaper, and interpreter. Just keep in mind that it may take weeks or even months to land a position you want. This is why it’s important to maintain an emergency fund with at least three to six months' worth of living expenses.

Find a fun part-time job

Recently, my family and I went to Pittsburgh and took a tour of the ballpark. Most of the tour guides were older men who appeared excited to be there, and the team seemed to appreciate the knowledge and enthusiasm they brought to the job.

If you feel like you need to work to stay busy and bring in some dollars, but don’t need to work full-time, try to find something that channels your passion. Maybe it’s working outside doing landscaping or lawn care. Perhaps it’s doing home improvement work, or tutoring students in English. If you can find something you enjoy and get paid for it, that may be better than landing a full-time job. (See also: 6 Great Retirement Jobs)

Seek consulting gigs

While companies aren’t always eager to hire older workers on a full-time basis, they have been known to rely on them for expertise on a contract basis. Companies still must rely on older workers who have institutional knowledge and some specific experience. In fact, it’s not unheard of for workers to be laid off only to return as a consultant, doing similar work. (I once met a guy who was brought back and found himself sitting at his same old desk!)

If you do find yourself laid off, consider marketing your services on a contract or as-needed basis. You may be surprised at how lucrative some of these opportunities are, and you will have some job flexibility that may help you phase into retirement for good.

Adjust your budget

The good news about being laid off when you are older is that your living expenses are generally lower. But you’ll still need to reduce your spending if you find yourself without a job. Track all of your expenses and see where you can cut costs. Savings may come from canceling your cable TV subscription, or reducing your food budget. You may save money on gas and other car expenses if you aren’t working. You’d be surprised where you can find ways to cut costs, and you may even find that you will be comfortable with a lower standard of living, allowing you to retire for good. (See also: 6 Ways You Can Cut Costs Right Before You Retire)

Go ahead and retire

Perhaps you planned to stop working at 63, but you were laid off at 59. You may think you need to keep working to hit your retirement savings goal, but you might be much closer than you think. Maybe your savings goal was larger than necessary and you’re actually right on target. Perhaps you only need to make modest adjustments to your standard of living, like reducing your spending for a few years, or adjusting your investment strategy to boost your income now while still growing your nest egg.

You may find yourself retired early, but those few years may not make much of a difference. If you have a financial adviser, talk with them about how to make your money work for you now and last a little longer. Your adviser may also be able to help you avoid any penalties and taxes from withdrawing money from your retirement accounts early. (See also: 5 Ways to Handle a Forced Early Retirement)

Check if you can collect Social Security

Let’s say you find yourself laid off at age 62. The good news is that you are old enough to begin receiving Social Security benefits, though your payments will not be as high as they would be if you waited another five years (until your full retirement age). At age 62, you’ll receive about 70 percent of the maximum monthly benefit.

If you can wait until you are older to collect, you’ll end up receiving more benefits in the long run. But even a partial benefit is better than nothing, and may allow you to retire early. (See also: 5 Questions to Ask Before You Start Claiming Your Social Security Benefits)

Identify passive income sources

If you are unable to find a new job or unsure if you want to return to the workforce, it may be time to get creative in how you make money. It’s entirely possible to earn money without a “real” job, if you know where to look. Adjusting your investment portfolio to earn money from dividend stocks is a popular option among older Americans. With dividends, companies pay a portion of their income to shareholders, and returns can be much higher than interest from the bank.

Real estate can offer a passive income source as well. If you have the funds to buy an investment property, consider renting it out and earning money from tenants. (Just keep in mind there may be some work and expense associated with ownership.)

If you are computer savvy, you may be able to make money from blogging or hosting videos on YouTube. This content can earn you money from advertising long after you’re done producing it.

The job market may be tougher for older citizens, but that doesn’t mean you can’t earn money. And who knows? Some of these sources may be able to continue to bring you income even after you retire for good. (See also: 5 Ways to Make Passive Income Online)

Start a business

Maybe you spent your work life wishing you could be your own boss, but the stars never quite aligned. Perhaps now is the time to take the plunge and become an entrepreneur. There’s obviously some risk in starting a business, but you may be at a point in your life where you have some money saved and relatively low living expenses. You may have years of work experience that you can bring to the table to get the business launched, and you can now set your own work schedule.

Your business doesn’t necessarily have to involve starting the next Amazon.com. It might be something more low key, like a math tutoring business, a small handyman company, or selling handmade items.

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Things You Need to Do if You're Retiring in 2018

Dan Rafter — Wed, 20 Dec 2017 09:30:10 +0000

You’re ready to retire in 2018. A long career is behind you, and you're finally ready to enjoy your golden years after decades of hard work and saving.

But just because retirement is at your doorstep doesn’t mean you don’t still have a few important steps to take. Here are six things you need to do right now to start your 2018 retirement off on the right foot.

1. Calculate your retirement budget

Creating any sort of budget rarely sounds like fun, but when you’re ready to retire, it’s a necessity. Remember, that paycheck you’ve counted on for so long is disappearing. You need to make sure you have enough money coming in each month to support yourself.

First, calculate how much money you’ll have available each month. Include all sources of income, including Social Security benefits, money from the savings you’ve built up, royalties, rents, disability payments, and annuity payments. Then, calculate your fixed expenses that remain the same each month. These would include rent or mortgage payments, car payments, and insurance costs — everything from life and health, to homeowners and auto.

Create reasonable estimates for expenses that might fluctuate each month. This includes costs such as utility bills, the money you spend on groceries, transportation costs, and, always important, the estimated amount of dollars you’ll spend on entertainment, traveling, and eating out.

Once you have these figures, you’ll know if you have enough money to support the retirement lifestyle you want.

2. Make some tweaks

Maybe, after creating this budget, you discover that you don’t have enough incoming dollars to cover all your expenses. This means it’s time to make some changes. If money is tight, you might have to cut back on discretionary expenses like going out to dinner or the movies. You might not be able to take a road trip every month. You might have to put off that cruise.

If you need more dramatic savings, it might be time to consider putting your home on the market. If you sell it and downsize into a smaller residence — maybe a condo or apartment — you might be able to generate enough money, and save enough in monthly mortgage expenses, to afford a more luxurious retirement lifestyle.

You might also consider selling your car, if you’re still making payments on it, and purchasing a more affordable vehicle that might cost hundreds of dollars less each month. (See also: 6 Ways You Can Cut Costs Right Before You Retire)

3. Talk to your partner about your retirement hopes

You don’t want to hit retirement only to discover that you’re happy puttering around the house and reading while your partner is looking forward to traveling the country in an RV.

Partners need to talk about their retirement goals long before they leave the working world. If you haven’t done this yet, and you’re ready to retire in 2018, it’s time to have this conversation.

Retirement brings with it plenty of free time — maybe more than you expected. You might get tired of reading or fishing pretty quickly. It’s best to discuss how you’ll fill these extra hours with your partner or spouse before retirement hits. Doing so will increase the odds that both of you will enjoy a happy retirement together. (See also: 5 Money Conversations Couples Should Have Before Retirement)

4. Consider whether you still want to work

Many retirees take on part-time work after they leave their full-time jobs. Some do this for financial reasons, while others simply enjoy the act of going to work and staying productive.

Take a long look at yourself. If you enjoy the routine of going to work, and find working satisfying, taking a part-time job might be the right decision for you. Or maybe you’ll want to use your retirement years to set up a consulting business or pursue a dream job in the arts.

Just make sure to plan for this move. Share your goals with your partner, so that he or she isn’t blindsided when you announce that you’re going back to work. And if you’re retiring next year, take the time now to make the connections and prep your resume so that you can transition as smoothly as possible to your new job. (See also: 4 Creative Remote Jobs That Can Supplement Your Retirement Income)

5. Explore your community

Again, retirement comes with plenty of free time. If you don’t want to work, maybe you’ll want to volunteer to fill in those hours. Now is the time to explore volunteer opportunities in your community. That way, when you do retire, you’ll already have a plan for how you’ll occupy those long post-work days. (See also: How to Find Your New Identity After Retirement)

6. Get conservative with your investments

If you haven’t already, move your retirement savings out of stocks and into less volatile savings vehicles such as bonds. It’s true that bonds don’t have the same ceiling when it comes to big gains, but you don’t want a dip in the stock market six months before you retire to eat up a big chunk of your retirement savings. Instead, play it safe by moving your savings to retirement vehicles that aren’t as likely to hit a big dip.

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This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Find Your New Identity After Retirement

Sarah Winfrey — Mon, 27 Nov 2017 10:00:06 +0000

Most people work for at least 35 years before they decide to retire. This provides ample time for a person's job to become one of the most stable parts of their identity.

A lot of retirees end up feeling lost once their career is no longer part of their everyday life. Without the identity that their job provided them, they don't know who they are anymore. Some retirees end up going back to work, while others eventually find their way through to a fulfilling second act. If you are retiring or thinking about retiring, here are some ways to make the transition to your new life smoother. (See also: 6 Things You Might Do on Your First Day of Retirement)

1. Volunteer for your favorite nonprofit

Most of us have a nonprofit or two that we support and would love to do more for, if only there were time. Well, guess what? When you retire, you will finally have that time. Why not invest it in an organization that means something to you? You can volunteer at your local animal shelter, church, homeless shelter, or any other organization you've always wanted to offer a helping hand to.

If you think you will miss your job or you have professional skills that you want to continue using, you can almost always find a way to use them in the nonprofit sector. Many retirees end up having a voice on the board of their favorite nonprofit, maintaining the books, or using their interpersonal skills to provide friendship and counsel to vulnerable populations, such as at-risk teens, elderly people, or refugees. If you have the interest, the skill, and the time, you can always find a place that needs what you're offering.

2. Focus on relationships

When life is busy, it can be hard to focus on relationships. As you look toward retirement, think about the relationships you want to invest more time in. Maybe you can finally take your spouse out to dinner every month, like you've wanted to do since you got married. Maybe you want to baby-sit your grandchildren once a week to develop a closer bond with them.

Investing in relationships can be an adjustment at first, especially if the people around you aren't used to you having so much time available. If you persist, though, you may find that you get to know your loved ones better than you ever did before.

3. Find a part-time gig

Retirement is the perfect time to find a part-time job doing something you've always wanted to do. Maybe you adore animals, and now you finally have the time to put in a few hours a week at a boarding facility. If you love plants, you can probably find part-time work at your local nursery. If antiques have always been your hobby, look for work at a shop or auction house.

See this as an opportunity to explore interests that you couldn't explore before. If you're truly interested, willing to learn, and humble, you can find work where you can learn about almost anything. (See also: 6 Cool Jobs for Retirees)

4. Follow your dreams

Most of us have things we've always wanted to do but just couldn't get into because of the time involved. Retirement is the perfect chance to pursue these opportunities. Think about taking up an instrument, learning to paint, or finally getting that degree you've always put off pursuing. You may even want to start a small business or look at selling something that you make on the side.

Remember that you're never too old to start or learn something new. Whatever it is that you have always wanted to know, do, or be, you have the chance to pursue that after retirement, as long as you don't stand in your own way.

5. Look for open doors

One of the best things about being retired is that you can do what you want, when you want. You can also change course at any time if something isn't working out the way you wanted it to. This means that there's no reason not to go after something, even if it doesn't end up working out. Because you have freedom with your time, you can go through any and all of the doors that open to you, since you can always change your mind later.

If you aren't sure what to pursue after retirement, keep an open mind. Try to see everything around you as a potential opportunity. When a door opens or an offer is made, walk through it. If it doesn't work out, something else will come along eventually.

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This article is from Sarah Winfrey of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Fast Ways to Restock an Emergency Fund After an Emergency

Annie Mueller — Wed, 09 Aug 2017 08:00:06 +0000

You worked hard to build up your emergency fund — and then you needed to use it. That's OK! That's why you had an emergency fund in the first place. Now it's time to rebuild that financial safety net (and your peace of mind). Here are six quick ways to replenish the savings.

1. Take on a weekend job

If your regular job is on a Monday-Friday schedule, you could look for a part-time weekend job. Retailers and restaurants are often on the search for dependable staff. You can also look for weekend positions in janitorial work or temp staffing positions. There are often various part-time positions available at any business or service that has to operate 24 hours a day, seven days a week. For example, elderly care homes, emergency services, and gas stations all need part-time help.

You won't make big bucks at most of these jobs, but if you put 100 percent of your weekend paychecks into your emergency fund, you can rebuild it fairly quickly: If you net $150 per weekend, you can save $3,600 in six months of consistent weekend work.

2. Work retail for the holidays

Seasonable businesses depend on the profits they make in the high season, which is sometimes only a few key months out of the year. For example, retailers depend on holiday sales, so they increase their people power accordingly, hiring thousands of additional workers. You could be one of those workers, bringing in a decent hourly rate for all those extended shopping times. If you're willing to put in overtime, you can seriously raise that seasonal paycheck. Working retail during November and December could net you enough to rebuild your emergency fund, and get you a sweet employee discount for doing your own holiday shopping.

3. Work at other seasonal businesses

Other seasonal businesses include landscaping and lawn care companies, which get busiest in the spring and summer months. They often need additional help to do the landscaping work, and may also need help with office jobs, such as answering the phone, responding to customers, scheduling appointments, and handling invoicing and billing.

Seek out the seasonal businesses in your area and apply for a position. If you have experience in any of the work that seasonal businesses need done, negotiate for a higher rate; since it's seasonal work, they don't have a lot of time to spend on training. If you can jump in at full-speed, you're worth a higher salary, which means your emergency fund gets rebuilt even sooner.

4. Clean out and sell

Cleaning out your house, garage, and yard can be a great way to bring in some funds quickly. For higher-value items, such as appliances, furniture, or specialty wear like a wedding dress, list each one individually. Lower-value items, like books and everyday used clothes, can often be bundled for a faster sale and higher profit. (See also: Make Money and Declutter by Selling These 5 Unlikely Treasures)

You can approach selling your items in two different ways.

First, you can do it yourself using online classified services and social media. With this method, you keep all the money but you have to do all the marketing and work yourself.

Second, you can take your items to a resale shop that will take them in on commission or purchase them outright. You'll make less money, but the shop will handle the work of selling.

Here's one important note on selling your stuff: If you have specialty items, such as antique furniture, jewelry, or collectibles, seek out an appraisal from a qualified dealer. General resale shops often won't know the value of specialty items. A dealer, however, can help you set a fair price that reflects the value and may even be able to help set up a sale for a fee.

5. Offer your services

If you have any specialized skills or services, you can make the most of them now to rebuild your savings.

Child care

Parents of young children are often searching for dependable, trustworthy care for their kids. And the hourly rate can be much more than minimum wage, depending on the area you live in. Provide references and make your child care services available through your local network of friends and social media.

Tutoring

Kids in school need tutoring, and adults in continuing education or returning to college often need tutoring as well. You can find a local tutoring service in your area and apply for a position, or work solo. Find a public location (such as a library) to meet for your tutoring sessions. (See also: How to Earn $1,000 a Month or More as an Online Tutor)

Marketing

Local businesses often need help with social media, content marketing, flyer or brochure design, or script-writing for ad or television spots. How can you help? Put together a short list of your services and rates and approach local business owners via email, phone, or at their location.

The list of services you can offer is really only as limited as your capabilities. If you have a hobby, special interest, or any sort of experience in something other people need help with, you've got a service to offer.

6. Cut down to minimums

If you have little time to spare, take a hard look at your budget. Cut down to absolute minimums on all your spending for the next three to six months, and dedicate the difference to rebuilding your emergency fund. While living on a bare-bones budget isn't a lot of fun, it helps to know it's only for a limited time. Once you rebuild your savings, you can revert to your normal budget.

For maximum speed in rebuilding your emergency fund, combine a couple of approaches. For example, if you can sell some high-value items and also pick up seasonal work, you'll move that much faster toward a replenished savings account.

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This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Summer Side Gigs for Grown-Ups

Ashley Marcin — Wed, 14 Jun 2017 09:00:18 +0000

School's out for summer — and if you're looking to earn some extra cash as the temperatures soar, you're in luck, no matter your age. The good weather brings some excellent side-job prospects. Whether you're a teacher who suddenly has free time, a full-time parent looking to amp up your side hustle, or just someone who wants to earn a little extra for your upcoming vacation, check out these options. There really is a gig for everyone.

1. Camp director or counselor

My husband directed a camp at an Ivy League college several years ago. He employed mostly adults to be camp counselors, too. The pay for about a month of work was several thousand dollars. Sure, he was gone for a month — but the cash made it worthwhile. Not only that, but he also really enjoyed the job. He got to plan events and activities, travel to cool U.S. landmarks, and serve as a role model.

Check with your local colleges and universities for jobs near you. If you're up for travel, you may also browse jobs on sites like CampStaff.

2. Seasonal store help

You'll find that many stores offer seasonal employment, and are looking for summer help. Just take a look around for "now hiring" signs or job applications often posted near the entrance. At Target, for example, they're already looking for team members for the upcoming back-to-school rush. It starts earlier in summer than you'd imagine. Perks of working at a store include discounts, competitive pay, and flexible scheduling.

3. Park employee

Whether it's at the ballpark or an amusement park, there are many jobs at parks that pay a competitive hourly rate. Specific jobs include things like concession stand workers, ticket takers, ride operators, and more. As a bonus, you may even earn perks like free tickets to events or rides for your family and friends. Some venues hold job fairs each year. Otherwise, inquire within to see what positions may still be open this year.

4. Farm hand

Our local CSA farmers employ folks each summer to help get crops to market. The work is definitely physical in nature and the days will be hot. Still, if you don't like sitting at a desk, it may be a good option to explore. Many of their workers in the past have even lived on their farm during their employment. According to Glassdoor, farm hands typically make anywhere between $8 and $15 an hour.

Depending on the farm, you may even get perks like free meals or free produce to take home. Find jobs near you by searching your local paper, Craigslist, and sites like BeginningFarmers. You may even want to ask around at your local farmers market. (See also: 12 Great Side Jobs for Outdoorsy Types)

5. Lawn care and other maintenance

With summer vacations on the horizon, many people are looking for help with lawn care this summer. You may even be able to charge between $35 and $50 per lawn if you include all the bells and whistles, like edging, removing tree limbs and other debris, weeding, etc.

There's also a good market for people who want to do house cleaning, painting, moving, and even hauling away. According to HomeAdvisor, most people spent between $50 and $70 in 2017 to have an individual clean their home for two hours. Consider advertising in your local paper, Craigslist, or through word-of-mouth. (See also: 10 Great Side Jobs for Introverts)

6. Pet-sitting or housesitting

If you book a housesitting gig, you can expect your duties to include: checking on the house, taking care of the pool, mowing the lawn, bringing in the mail, and otherwise performing any necessary maintenance on the property. And you may find pet-sitting lumped into housesitting jobs or as a separate gig on its own.

We have a couple of dog sitters who live down the street from us. They have clients who drop off their pooches in the morning and pick them up after work. The dogs get meals, attention, and lots of neighborhood walks. These people do this gig year-round. But you may also find more temporary gigs as families travel more during the summer.

Pay rates for pet-sitting on Glassdoor range from around $7 to $15 an hour, and you can charge even more if you're housesitting as well. Look for jobs on TrustedHousesitters.com. You can find positions locally or even venture into international travel. That's right! You can even turn your housesitting or pet-sitting into a vacation of sorts. (See also: How to Make $400+ a Week as a Pet Sitter)

7. Childcare

You may think baby-sitting is just for teenagers, but you're wrong. We have an adult friend who is a teacher during the school year and provides quality child care during summer. We're fine paying her some extra dollars each hour because she knows lots of age-appropriate activities for kids.

Consider advertising your services on a site like Care.com. That's where most of my friends go if they're looking for responsible, reliable sitters. The average hourly baby-sitting rate these days is around $14, but it can be higher depending on your qualifications and area.

8. AmeriCorps summer staff

Want to chip away at your student loans? I do! Consider becoming an AmeriCorps VISTA summer associate. In this gig, you'll work fully immersed in your project and community for eight to 10 weeks with other year-round VISTA workers. You can apply on the VISTA website and search opportunities in your area of choice.

Payment is either a small cash stipend or a Segal AmeriCorps Education Award of $1,174. It may not seem like a lot, but you also get living expenses — totaling around $2,000 — that apply during your service.

9. Photographer

Summer is the time for weddings, engagements, and other family events. While many people do photography as a job year-round, there's a much higher demand in the summer. The weather is nice, and many people would rather have their photos taken when there are leaves on the trees.

I used to have my own photography side business. I was always very busy in the summers and could charge about $150 per session (which included taking photos for about an hour and then editing the photos).

Getting started is as easy as creating a free Facebook page for your business. I put up a sample gallery of photos I had taken throughout the years, invited my friends to like my page, and slowly I started getting clients. At first, they were mostly people I knew. After a while, though, word spread. The best part? If I couldn't fit a job into my schedule, I could say no or offer an alternative time.

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This article is from Ashley Marcin of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Ways to Handle a Forced Early Retirement

Dan Rafter — Tue, 07 Jun 2016 09:30:33 +0000

You had a plan: You would work until 67, contributing the maximum amount of each paycheck into your company's 401K plan. You would then enjoy a retirement of traveling the world and spending time with your grandchildren.

But then your company changed your plans. They let you go you at age 55 or 60. Finding a new job at this age isn't easy. According to an AARP study released in 2015, 45% of job hunters aged 55 or older were members of the long-term unemployed, those who were out of work for 27 weeks or longer. And when these older job seekers did find new jobs, they tended to earn less money. The same AARP survey found that almost 48% of people 55 or older were earning less on their new jobs than they did at their old ones.

Those are intimidating numbers. But they don't mean that a forced early exit from the workforce will dash your retirement dreams. Here are five steps that you can take after you've been laid off or fired to make your earlier-than-planned retirement a successful one.

1. Assess Your Financial Reality

It's easy to panic when you've lost a job. But your financial situation might not be as dire as you think. To find out, it's time to perform a quick financial assessment.

First, list your monthly expenses. These might be lower if you are no longer paying a mortgage each month. Then list the income you have coming into your household. Maybe your spouse's income means that you can still save enough money each month for a happy retirement. Maybe you'll need an extra income boost from somewhere to still hit those goals.

Depending on how close you are to your official retirement age, you might decide to start receiving your monthly Social Security payments. You'll get less each month if you haven't reached full retirement age, but if you can't hold off on the extra monthly income, receiving your benefits a few years early might be a sound move.

If you were laid off or fired, you probably qualify, too, for unemployment insurance. Make sure to take advantage of this. That extra monthly income could help you stay on track for your retirement goals.

2. Get Realistic About Your Retirement Goals

You might have to scale back your retirement goals should you be forced to exit the workplace earlier than planned. Maybe you planned to take a long trip every year. If you're forced out of work five years early, you might have to scale that back to just three big trips spread out over your entire retirement.

This doesn't mean that your retirement is ruined. But you might have to refocus. Maybe instead of joining that high-priced country club, you'll be taking your golf clubs to public courses throughout your city.

3. Make Sure You Have a Plan for Insurance

You'll need health insurance even after you lose your job. You might qualify for Medicare or Medicaid, though you might not qualify for these government programs depending on your age and income levels.

If you need insurance not offered through the government, you can search for a low-cost plan through the insurance exchange created under the Affordable Care Act.

Letting your health insurance lapse can be a costly mistake.

4. Find Part-Time Work to Fill in the Income Gaps

If you need some extra income each month, consider taking a part-time job. This work, even if it doesn't come with the benefits of a traditional full-time job, could provide you with the extra bit of cash that will keep your retirement dreams alive.

Depending on your field, you might find a part-time job as a consultant. But even if you can't, you can still find enjoyment, and some extra financial security, by taking on a position in a new field.

5. Meet With a Professional

Retirement planning is complicated when everything goes according to plan. When those plans are suddenly changed? It's even more of a challenge to make sure that you have enough dollars saved for your after-work years.

That's why it's important to meet with a financial adviser who can help you determine what financial steps you need to take now. Depending on your income and community, you might even qualify for free financial advice.

A financial planner can help you create a new budget and a new financial plan that fits with your new money reality.

Have you faced early retirement? What steps have you taken?

This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Great Retirement Jobs

Qiana Chavaia — Fri, 22 Apr 2016 09:00:09 +0000

With the cost of living always on the rise, retirees are looking for creative ways to supplement their incomes. And for those living on fixed incomes, finding part-time work can be tricky and sometimes challenging, because they cannot exceed the SSI annual earnings threshold of $15,720, and $41,880 for those in their first full year of retirement. But, if you're looking for ways to supplement your income, here are five great part-time retirement job ideas.

1. Local Tour Guide

The sharing economy is making all sorts of short-term side jobs available, and if you've got a lot of local knowledge, consider setting yourself up as a tour guide on a service like Vayable. Rates range from $50–$85 per person, per tour. If apps and computers are not your thing, check with local tour operators or local tourist attractions about picking up a shift or two. You'll put your wisdom and experience to work — and you'll meet lots of great people, besides.

2. Tutor or Teach

You don't need a background as a teacher in order to help others learn. If you're good at math, English, or any other subjects, consider tutoring or teaching part-time. You can set your own rates, and signing up with a tutoring website like VarsityTutors will pair you with students. And there are so many opportunities to teach, because it goes beyond the classroom these days, as many people prefer the convenience of online courses.

3. Babysitter

Do you have an interest in working with kids? If so, it could be a valuable skill-set. Part-time babysitters can earn as much as $25 per hour, and they work on their own terms. Plus, if you already have experience working with kids, and a flexible schedule, you'll probably find lots of job opportunities.

4. Postpartum Doula

Jackie Prescott, founder of First Bump Then Baby, says becoming a modern-day baby nurse is a great way for older women (and men!) to earn money, because it's essentially about mothering new mothers and helping new parents to quickly feel at ease.

5. Tax Preparer

Some people think of tax preparation services as a seasonal job, but the truth is, many self-employed individuals and businesses deal with tax issues year-round. If this is a skill-set that you possess, it can earn you a sizable penny. But, because it is so lucrative, be careful not to cross the annual earnings threshold if you're receiving SSI.

6. Become an Uber or Lyft Driver

The Uber and Lyft car sharing programs have grown to reach every city, and they're looking for drivers everywhere. Anyone with a valid driver's license and clean criminal record is eligible to become a driver. Drivers are of all ages and professional backgrounds. Many are stay-at-home moms and current and former professionals seeking a way to earn extra income. (See also: How to Earn Extra Money Driving for Uber or Lyft)

What are some other great side jobs for retirees? Share with us in the comments!

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This article is from Qiana Chavaia of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Great Side Jobs for Book Lovers

Brittany Lyte — Mon, 04 Apr 2016 09:30:30 +0000

Bookworms and knowledge seekers, rejoice! You can make money off your insatiable thirst for a good story. No matter your day job, there are lots of ways to earn a little extra side cash by capitalizing on the very things you like to do in your free time — namely, reading. Here are several side gigs that are made for cash-strapped book lovers. (See also: 17 Cool Jobs for Book Lovers)

1. Blogger

Bloggers are a dime a dozen these days. But talented bloggers are actually quite valuable. If you have the foresight and the skill to make sense of life's little intricacies, or the daily happenings in the news — and if you can write about it with gusto, ease, and good grammar — there's a special place for you in the bookmarks bar of countless people perusing the Internet.

Further, if you have something smart and interesting to say, and you're not going to just regurgitate what's already been said, then you can make it. And these very qualities will help you attract a following. That's the hardest part of cracking into the blogosphere business. But once you've cultivated a following with your stellar content, there are several ways to go about making a few extra cents. From ads and affiliate links, to product reviews and targeted social media promotion, you'll be on your way to supplementing your income in no time.

2. Museum Tour Guide

A part-time tour guide gig at your local museum might just be the perfect way to earn an extra chunk of cash while bridging the gap between modern life and the world in your favorite history books.

3. Bookstore Clerk

A sincere love of literature will land you an interview, at the very least, for a job at your local bookstore. If you're up for the challenge of helping customers find a literary adventure that suits their specific interests, and if you think you'd actually enjoy it, then the part-time bookstore clerk gig is made for you. Bonus: A coveted discount on books and other merchandise is a staple perk of the job.

4. Copy Editor

Grammar enthusiasts and punctuation snobs make for astute copy editors. And they're among the first to truly appreciate how important this job of proofreading for spelling, grammar, and content truly is. If you've any doubts, pick up a copy of any local newspaper that has done away with the position due to budgetary restraints. Quite often, copy editor-less content is painfully comical due to spelling and grammar mistakes. Newsletters, newspapers, books, and internal business communications are just a few examples of the kind of copy that needs editing. Look for advertised gigs or advertise your services directly to the folks who run these sort of operations.

5. Writer

To the esteemed reader, writing might feel like a 360-degree role reversal. But if every great writer is a dedicated reader, the saying probably rings just as true for readers who dabble in writing, right? News stories, book reviews, advertising copy, guest blog posts, corporate newsletter content, poetry, short stories — the options for the for-profit freelance writer are endless.

6. Translator

If you are fluent in a language, especially one that's somewhat obscure, you can earn extra income online by seeking out translator jobs. Translatorgigs.com, Fivver, and Freelancer.com are great places to begin your search for gigs.

What other jobs would be perfect for bookworms? Share with us in the comments!

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This article is from Brittany Lyte of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Part-Time Jobs That Offer College Benefits

Ashley Eneriz — Wed, 02 Mar 2016 10:00:04 +0000

Good news, college students. You don't have to wait until you graduate to take full advantage of employee benefits. In fact, many employers offer their part-time employees college benefits, such as tuition reimbursement and scholarships. Picking the right part-time position in your college years could provide you with more than just work experience — it can lead you to lower college debt, too. Here are eight great part-time gigs to check out that offer college benefits.

1. UPS

UPS offers one of the best college tuition reimbursement programs to part-time employees. The company allows employees to earn $5,250 per calendar year towards education costs with its Education Assistance program. Employees can earn up to $25,000 max in college reimbursements. The best part is that eligibility begins on day one, and if you are hired mid-semester, your benefits will be prorated.

2. Starbucks

As if free coffee wasn't a good enough perk, Starbucks has a partnership with Arizona State University (ASU) that provides Starbucks' partners partial tuition reimbursement. The amount of tuition reimbursed varies based on the partner's unique financial situation and needs. The Starbucks College Achievement Plan is open to any Starbucks-owned company employee, regardless of the position title. Partners must also not have a bachelor's degree already.

3. Publix

Publix allows employees to earn up to $3,200 per calendar year (and $12,800 lifetime) for college reimbursement. The company allows $3,400 to be applied towards individual courses, technical college, or community college. Employees must have six months vested in the company and work at least 10 hours per week to qualify.

4. Chick-Fil-A

Chick-Fil-A offers its employees the chance to win a $1,000 Leadership scholarship. Employees are required to have a high school diploma to be eligible. Employees must have also applied for college and show that they have a great work ethic and are active in their communities.

5. Home Depot

For part-time employees, Home Depot allows up to $1,500 in tuition reimbursement per calendar year. Tuition reimbursement is applicable to degrees related to the business of Home Depot, but individuals can use the reimbursement towards an undergraduate degree, graduate degree, or technical degree.

6. Bank of America

As long as your course is job-related, Bank of America will reimburse part-time employees up to $5,250 per calendar year. Certificate and professional development programs do not count for reimbursement. Part-time employees must be with Bank of America for six months and work at least 20 hours per week in order to be considered.

7. McDonald's

Often McDonald's gets a bad rap as a part-time job. However, the educational benefits the company provides crew members and restaurant managers is impressive. McDonald's program, Archways to Opportunity, provides employees with free English as a Second Language (ESL) courses and will cover the complete costs for employees to earn their high school diploma. The company also provides tuition reimbursement for eligible courses and is partnered with select colleges to offer employees a bigger discount on tuition.

Furthermore, McDonald's offers scholarships and management curriculum. The company started Hamburger University in 1961, which allows graduate employees to earn essential management skills and even earn college credit.

8. Walmart and Sam's Club

Part-time associates at either Walmart or Sam's Club can earn a tuition grant that saves them 15% of the cost of college courses. The only catch is that associates must get their degree through American Public University (APU). All degree-seeking undergraduate associates are also eligible for an undergraduate book grant that covers almost all of textbook expenses. This grant can be earned, regardless of the degree being pursued. Though the company does not make it clear if this grant is only for APU students, too. (See also: 8 Ways College Students Can Save Money Before Class Starts)

These are just a sample of great part-time employers that offer college benefits. If you currently work for a smaller or private company, it doesn't hurt to ask if the employer would consider partial tuition reimbursement. Make your case by showing how certain courses or a specific degree would help you become a more valuable asset to the company.

Would you take a part-time position just for the college benefits? Share with us in the comments!

This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

10 Awesome Jobs for People Who Want to Work From Home

POPSUGAR Smart Living — Tue, 22 Jan 2013 21:10:51 +0000

Many people dream of working from home because of perks like not having to commute and being able to work in your pajamas. The good news is we're seeing more and more jobs that give people the privilege of working from home. Although there are stereotypical contract admin or call-center jobs that let you work from home, there are plenty of other at-home jobs that are way more fun. Read on to find out what they are.

Etsy Store Owner

If you love making crafts and personalizing them, Etsy can be a possible career route for you. There are Etsy store owners that are making more than their previous day job and lovin' it! Of course, it's not all about being crafty. You'll also have to invest time into promoting your product on social media sites like Pinterest, taking great pictures, and coming up with search-friendly titles.

It's free to join Etsy, but you have to pay 20 cents to list your item, and the site will take 3.5 percent sales from your listed price. Inc. magazine has a great list of tips on starting your own Etsy store.

Music Teacher

If you have a love for music (and the skills to boot!), teaching other people how to play an instrument or to sing might be a good career choice for you.

What you can expect to make ranges from something in the teens to hundreds per class if you're famous. For example, Seth Riggs, a renowned vocal coach to the stars, charges $300 per session. To earn more money, you can choose to get certification and to build up a good track record.

Consultant or Coach

You can be a consultant on anything as long as you have the right expertise for the topic. One example is a consultant who helps business-school students with applicants. Famous ones charge each applicant $3,000 per business school. Basically, what they do is help students with their résumé, essays, and interviews.

You can also coach people over the phone and the Internet. An example of coaching can be a career as a life coach, in which you advise and guide people to achieve personal goals. According to LifeCoach.com, individual clients can be charged from $200 to $1,000 per month while corporate coaching will net life coaches about $1,000 to $10,000 every month.

You can coach people on pretty much any type of topic, from dating to personal finance.

Graphic Designer

There's a decent demand for graphic designers, especially those in web design. In this field, it's preferable for graphic designers to have some sort of educational training, such as a bachelor's degree, says the Bureau of Labor Statistics.

The median annual wages for graphic designers was $42,400 in May 2008, according to BLS data.

Therapist

Another option for a career is an at-home therapist. There are positives and negatives to seeing patients in your home. Of course, there is always the issue of safety, so you'll have to be cautious with who you decide to take on as a patient. One of the biggest bonuses to seeing patients from home is you'll be saving on the cost of an office, the commute, and parking.

To be a therapist, one must complete an undergraduate degree, preferably in psychology, then go on to earn a master's degree in the field. The median annual salary of an occupational therapist is $84,000, according to Indeed.com.

Artist/Painter/Sculptor

If you've heard of the phrase "starving artist," you know that it's not going to be an easy career path. In fact, while you're busy trying to sell your paintings to a gallery or online, you might have to take on day jobs or sides jobs such as teaching art.

Social Media or Community Manager

Social media and community managers are all the rage right now, and many companies are hiring for that position since they lack the know-how. And how do you gain that knowledge? Simply by being an avid user! There aren't many quality classes on social media right now, so the best way to pick up the skills is to use the platform. Community managers have duties from moderating comments to thinking up ways to grow reader base and engagement. Interested? Well, the average salary of a community manager is $53,000, says Indeed.com.

Writer

A freelance writer or novelist can always work from home. If you have a love of writing, you might want to try this out. Start by writing for small-time magazines or papers to build up your career. It's really important to network in this field because it's much easier to get your piece into an editorial publication if you know the editor. You can always opt for journalism school as a way of getting into the industry.

If you want to write the next great American novel, you can either start on your own or wait for National Novel Writing Month in November to write alongside thousands. If agents aren't biting, you may want to publish your book online as an ebook.

Start-Up Founder

Have a great idea floating around in your head? Perhaps the next Spanx or another social media platform? If you work on your own start-up, you'll have the luxury of working from home. However, you won't have a salary and you'll be living off of your savings when you're starting out. But if it takes off, you may find yourself with a robust income!

Software Engineer

Software engineers have the luxury of working from home and get paid a great salary. Further, they’ll never have to worry about a job since they are always in demand. These techies design and test different kinds of software like computer games and operating systems. The average salary of a software engineer is a hefty $90,000, according to Indeed.com.

It is possible to have a great job working from home — just follow one of these career paths.

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30 Great Side Jobs

Thursday Bram — Wed, 09 Jan 2013 11:36:29 +0000

There are thousands of side jobs out there these days, but they aren’t necessarily created equal. Some are better than others, especially in terms of how much work you have to do compared to how much money you earn. These are a sample of the better side jobs you may be interested in. (See also: 12 Side Jobs for Stay-at-Home Moms and Dads)

1. Tutoring

If you know a particular subject well, you can find many opportunities to tutor, both through employers and on your own. The best-paid tutors often specialize in helping with test preparation, particularly for graduate and professional exams.

2. Medical Testing

While there can be some serious side effects that can go along with being a medical test subject, there can also be some decent money. Do your research before agreeing to a particular trial and make sure that it won’t interfere with your other obligations before signing the paperwork.

3. Pet Sitting

Not all pet owners prefer to put their pets in a kennel when they travel — some prefer that their pets get to stay home. Some pet owners even need someone to handle pet sitting duties (like walking the dog) when they’re home. If you’re fond of furry friends, such a side job could be a good fit.

4. Landscaping

Mowing lawns and handling other landscaping tasks is hard work, but if you just do it for a few people on the side, it can be a manageable workload. For anyone willing to do gardening, landscape design, or other specialized work, there’s more money available.

5. Teaching

For anyone with a skill or an area of expertise, teaching can be a decent option. Don’t just look at colleges for adjunct positions, though. Many different types of organizations will bring in a teacher to offer a specific class.

6. Bartending

Food service jobs in general are often suggested for side jobs, but bartending jobs are the cream of the crop. There are usually better tips, at the very least.

7. Catering

You don’t have to start a catering company of your own to land a side job with one. Many catering companies rely on part-time and seasonal help to staff events as needed. From waiting tables to cooking the food, caterers need lots of help.

8. Party Planning

If you’ve got the knack for putting on a great event, you may do well as a party planner. You can plan parties on your own, as well as check into companies that are hiring part-time help.

9. Photography

While it can take a while to build up a successful photography practice, especially if you want to get into a competitive field like wedding photography, many photographers bring in assistants to help with specific shoots on a routine basis. You can work your way up to establishing yourself on your own and earn some money along the way.

10. Virtual Assisting

For those of you with a background in business administration, you can offer your skills up to small businesses that need help. If you can do it online — and there are few business tasks you can’t do online these days — someone will pay you to do it.

11. Performing

It’s tough to make a living as a musician, but there can be some surprisingly lucrative gigs, particularly if you aren’t trying to put your own music out there. There are plenty of events where the organizer wants live music, and if you can perform their favorite pieces, you can get paid.

12. Consulting

For professionals who have been in the game for a while, consulting on your area of expertise with different companies can be a great source of income. If you are currently working in the same field, though, double check to make sure that moonlighting doesn’t violate your contract.

13. Advertising

There are all sorts of opportunities to make money, provided you don’t mind being associated with the company doing the advertising. Some companies will pay people to put ads on their cars or wear specific T-shirts, while others are looking for sign spinners. As long as you’re comfortable with the product, it can be a good opportunity.

14. House Sitting

You have to be absolutely trusted by anyone who will hand over the keys to their house and head to the airport. House sitting can be a good opportunity, although there aren’t always big dollar signs attached to the job, but there are often other perks.

15. Transcribing

Despite what those ads for medical transcriptionists claim, there is skill required to become a transcriptionist. But it’s a side job that you can train for in your spare time and, once you’re up to speed, there are a lot of opportunities out there, especially if you specialize in medical or legal transcription.

16. Altering or Tailoring Clothes

There used to be plenty of places where you could get clothes altered to fit better. There’s still a serious demand for such skills, especially during a time when people want to get as much wear out of their clothing as they can.

17. Providing Customer Service

Many companies rely on part-time customer service reps to handle phone calls, either from a call center or from their own homes. It may not be the most fun side job, but the work is steady.

18. Selling Cosmetics (or Other Products)

Selling Avon make up has been a way to make money on the side for years, and there are plenty of other companies that use the same methods to move their products. Serious salespeople can make a lot of money by selling these products, though it’s not a good fit for everyone.

19. Caring for Children

From babysitting up to providing daycare, there are plenty of different opportunities out there for offering child care.

20. Freelancing

For a lot of creative professionals, freelancing is a logical way to make money on the side. There are many different types of freelancers, from writers to graphic designers to social media specialists.

21. Guiding Tours

Even if you don’t live in a place known as a tourist destination, there are lots of opportunities to lead tours, especially if you’re willing to do the research to put them together yourself. Think about variations, like ghost tours or tasting tours, to expand your opportunities.

22. Providing Beauty Services

There are lots of part-time jobs in the beauty industry, especially if you have a knack for making other people look good. Just in hair care, different people can handle cutting, dying, braiding and more. In some places, some or all beauty-related jobs require licenses, so do your homework.

23. Delivering Items

Many different types of companies need delivery drivers, from pizza to furniture. It’s just a question of finding a job that fits into your schedule.

24. Cleaning

While typical cleaning gigs don’t pay as much as one might like, many specialized types of cleaning can pay much more. Using organic cleaners, tackling pet stains, or washing curtains — it’s just a question of finding a niche.

25. Repairing Furniture

If you have the skills to restore a piece of broken furniture to its former glory, there are plenty of people who will pay you to do it. Some will even pay you to build custom original furniture, if that’s more your thing.

26. Computer Troubleshooting

Technical skills are in great demand, especially among people who need occasional help with problems that seem too trivial to take to the store. If you’re willing to provide some basic IT support, you can wind up with a lot of customers.

27. Personal Shopping

There are plenty of people who will happily pay someone to shop for them, both for everyday purchases like groceries, and for bigger things.

28. Crafting

The rising demand for handmade items has made it easy to make money from a variety of skills. You can sell everything from scrapbooking skills to scarves — and there are even some companies that will now hire you directly so they can sell your work.

29. Cooking

There are a variety of cooking jobs these days that don’t require you to ever set foot inside a restaurant. You can work as a personal chef, cooking up a week’s worth of meals and delivering them to a customer, for instance.

30. Providing Handyman Help

Everyone needs a little help around the house sometimes, if only for those jobs that take two people. If you’ve got the skills to take care of a building, you can find a lot of work.

Have you ever held a side job? What was it?

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This article is from Thursday Bram of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Part-Time Jobs That Can Get You Serious Discounts

Mikey Rox — Tue, 01 Jan 2013 11:00:31 +0000

Part-time jobs are great for supplementing income, but there are other things to consider — like, what kind of perks do they offer? If you’ve got to put in a few extra hours a week, you might as well reap the benefits, right? To help you narrow your list, I’ve highlighted several types of part-time jobs and the bonuses associated with them. Take a look. (See also: 9 Ways to Earn Extra Cash When Money Is Tight)

Retail Sales (Clothing)

I took a job at the Gap in high school because it was a fun environment, it gave me the weekend spending cash I needed, and it offered a hefty discount on the inventory since employees were encouraged to wear the brand’s clothes.

I worked at several retail establishments during my high school and college days actually, including Britches, Abercrombie & Fitch, and Hollister. All of these companies provided me with anywhere between 20 and 60% off my new duds. This was perfect for me since I like to buy new clothes, but the discount was even handier around the holidays, so I could save on gifts.

Retail Sales (Non-Clothing)

If you’re not a clothes horse but find yourself buying other items — like electronics, furniture, or appliances — there’s still room for you in the part-time retail workforce. Many companies offer amazing discounts to employees. For instance, Williams-Sonoma, although its items tend to be a bit higher-end to begin with, offers 40% off merchandise, while hardware store Lowe’s provides 10% to its employees. The trick here is to find that part-time job where the steep discount is most in line with what you most need to save money on.

Restaurants

Consider the cost the meal that restaurant employees generally get for free during their shift, and you’re looking at more than $1,000 worth of food savings over the course of a year. Even when you’re off the clock, many restaurants offer an employee discount, so you can treat your friends to lunch on the cheap.

Coffee Shops

Coffee lovers may want to consider a part-time gig as a barista. Coffee shops like Starbucks give its employees free drinks while they’re working — gotta stay alert — and a free pound of coffee to take home each week.

Airline Industry

You don’t have to be a flight attendant to work in the airline industry — there are plenty of jobs that handle pre-flight details.

Airlines are rather generous to their employees in terms of discounts, with many offering free flights. Southwest, for instance, offers employees unlimited free flights to wherever it flies so long as there’s room on the plane. Airlines also tend to have inside deals with competitors to help you save on travel outside of your employer’s network.

Grocery Stores

We all have to eat, which is why it makes sense to pick up a few hours at your local supermarket if you’re strapped for cash. Most supermarkets offer about 10% off their employees’ grocery bills — savings that really adds up over time. And, yes, you can still use your coupons, too. It also wouldn't hurt to befriend the people in the deli and bakery who might throw a few freebies your way from time to time.

Movie Theaters

Fancy frequent trips to the movies? To save a bundle on new releases, work a couple nights at your local multiplex. Employees are graciously granted access to any flick they want to watch, whenever they want to watch it, so long as the show isn’t sold out. Depending on your appetite for movies, you can save several hundred dollars per year on your entertainment bill.

Day Care Centers

If you’re a parent seeking part-time employment, look into helping out a local day care center several days a week. What better way to bring in extra income and make sure that your child is well taken care of during the day? You may not get the service completely free, but your employer will likely give you a discount on the overall cost.

What other part-time jobs can you think of that offer great discounts? Let me know in the comments below.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: