One of the things about retirement that has always somewhat bothered me is the idea of doing nothing. To me, the idea of sitting around without working doesn't hold any sort of appeal. Which is why I plan a sort of “working” retirement. I plan to continue writing, even when I am retired. Retirement doesn't have to mean sitting on your front porch, waiting for the grandkids to show up (unless you want to mean that, of course). You can still do something you love — and possibly make money at it.
Why Income Is A Good Idea In Retirement
Planning some sort of income for retirement is a good idea for just about anyone. While you can withdraw money from a nest egg and count that as income, it isn't always best to rely on your retirement account — as many found out in late 2008 and early 2009. A market crash can take its toll on your nest egg, and you don't actually know what will happen with Social Security in the future. This means that it can be a good idea to find other sources of income that can help you in retirement.
If you have another source of income, you won't need to take the same distributions from your retirement account, and that will ultimately help it last longer. Plan a “working” retirement, and you will be more firmly in control of your financial destiny, rather than being at the mercy of the market, or a collapsing Social Security system.
What You Can Do To Enjoy A Working Retirement
As I mentioned already, I plan to continue writing, even in “retirement.” I probably won't write as much. Or I will write from some fabulous and exotic locale, enjoying myself when I'm not writing. There are other jobs conducive to a semi-retirement lifestyle. Some of these include:
- Marketing and public relations (including social media marketing)
- Other freelance options, such as graphic design, programming, and editing
- Teaching (especially adjunct teaching at a local college)
- Investing (building up an income portfolio)
- Monetizing a web empire
Not only can these options provide you with a steady stream of income, but they can also ensure that you have something engaging to do. You will keep yourself busy and engaged, and probably enjoy your time more. Semi-retirement is all about doing something you enjoy, while still earning a little bit of money. This creates a situation that allows you to be more financially secure during retirement, while at the same time remaining active.
Helping Others During Retirement
Of course, it is still possible to be busy during semi-retirement and not do something that brings in money. Many people choose to devote their retirement years to service. There are a number of volunteer opportunities in your community and around the world. If you have some sort of expertise, you can use it help others, giving of your time and talents to make the world a better place. This can be a great way to use your retirement funds to enjoy this part of your life — while making a real difference. What your retirement looks like should largely depend on your financial priorities.
What do you want to do during retirement?