Retiring Soon, But Not Prepared Financially?
by: Kerry Hook
Recent studies show that youre not alone. In a recent poll, at least half of those surveyed reported that they did not have enough money to retire. Thats a lot of people!
There are many ways that this can happen. Maybe, youve spent a lifetime barely making ends meet so there never was any extra money to save. Perhaps you just got busy with life and really never gave retirement much thought then the years just slipped by so fast it made your head spin. It may be that you did your best to save each month, had an employer match so it looked like everything was on track, but you just checked your mutual fund and discovered that it had dropped in value so much, that you now fear you may never be able to retire. Were you just forced into early retirement because the company is downsizing and the most expensive employees (the seniors) were the first to go?
If any of these scenarios describe your situation, the first to do is take a deep breath. Dont panic. There are still work options for you to consider. There will be some people who can work and really want to work outside their home in some reduced capacity. Can you negotiate less pay or fewer hours to help your employer keep you? How about offering your services as a consultant? If this isnt possible, you may want to look for employment in all the places where teens used to work. Many employers now hire retirees for those jobs because liability is an issue for the 16 to 18 year olds. Some employers prefer seniors because of their reliability and work experience.
If you do not want to work outside your home, but still need an income you have still more options. There are many jobs that you can do from the comfort of your own home. You do have to be careful, but with just a bit of effort you can weed out the ones that are clearly scams. These jobs range from customer service representatives to virtual assistants. Try calling local call centers in your area. They sometimes have jobs that they do not advertise. Another way to find jobs like these is to do a quick Internet search or check on Craigslist. As always, do exercise caution. You should never be asked for money and you should never accept an overpayment check. Virtual Assistants.com has a job board and boasts 11 years of scam free service.
You may also want to consider posting your own ad on Craigslist or Sologig. These are great sites to market yourself as a consultant, but dont limit yourself to online contacts. Make sure that you let everyone you know or have ever worked with that you are available for contract work. Network with old colleagues by phone but always follow up with a short note that includes your contact information. And dont forget all the new possibilities that the social networking sites offer to grow your own consulting business. All the social networking sites are easy to sign up for and easy to use so dont be intimidated by any of these new platforms.
The best thing that you can do for yourself is to truly explore your skills and figure out how to market them so that you develop your own source of income. After all, youve spent a lifetime in the workforce and no doubt developed a lot of skills that you take for granted. Dont overlook skills from other areas of your life (e.g., hobbies, volunteer work, language skills, etc.).
Once youve figured out all your skills, you may really get in the grove of things and find other ways to earn money. This is called multiple streams of income and offers the most stability because if income is down in one area, it may well be up in another.
Working for yourself has many advantages over traditional jobs but it isnt always an easy thing to do. But with a positive, optimistic attitude, creative mindset and a lot of persistence will help you find a way to meet the challenges of a retirement that wasnt well funded.
The author invites you to visit: http://www.thefrugalretiree.com
