In this article, we will look at 25 part-time retirement jobs that pay well. We will further explore the emerging trends around retirement in the US, examine reasons why it’s considered a good idea to work part-time after retirement and the ways retirees can earn some extra money. If you want to skip our detailed analysis, you can go directly to 10 Part-Time Retirement Jobs That Pay Well.
Retirement marks a significant milestone in one’s life and thus, it is often followed by a well-deserved transition from the traditional workforce. However, for many retirees, the desire to remain active and financially independent continues to burn brightly. Part-time jobs offer a promising solution that not only allows retirees to unlock new opportunities but also utilize their skills, and undertake journeys that align with their passions.
The COVID-19 pandemic prompted a wave of early retirements among older Americans, raising concerns about long-term workforce changes. However, recent data suggest a positive shift, with approximately 1.5 million retirees reentering the U.S labor market in 2021, helping to compensate for the pandemic-induced labor shortage.
Is It Good to Work Part-Time in Retirement?
Reduced COVID-19 concerns, along with flexible work culture and rising inflation that strain fixed incomes, have motivated retirees to seek employment opportunities. Moreover, the tight labor market, accompanied by more job openings than the number of unemployed people, has led employers to target retirees by offering part-time or remote work options.
It’s important to note that financial constraints, rather than voluntary choices, often drive retirees back into the workforce. However, some retirees, including those with higher socioeconomic status, opt to work after retirement because they find it fulfilling and enjoyable. Some believe that remaining employed can have positive effects on retirees’ well-being that provides them with an overall structure to their day to day life, socialization opportunity, and cognitive stimulation.
Moreover, semi-retirees are increasingly seeking flexible roles that offer purpose and opportunities for learning that allow them to pursue their passions or somehow reduce their working hours. While historically limited, the availability of flexible jobs for retirees has improved due to the current tight labor market, remote work options, and the push for shorter work weeks.
This shift in retirement trends reflects a rise in labor-force participation rates among older adults, while younger generations are experiencing a decrease. Although financial necessity is the driving force for some retirees, it is the desire for personal fulfillment that mainly contributes to their decision to remain in the workforce.
In 2022, over 50 million Americans left their jobs, seeking less demanding and more fulfilling careers. However, as inflation places pressure on retired seniors, many are reentering the workforce, particularly in the service industry. Cashiers, retail associates, and restaurant hosts are among the positions filled by seniors, as the additional income helps offset the hardships of inflation. Older workers bring valuable interpersonal skills and are often more dependable, punctual, and less likely to switch jobs frequently compared to their younger counterparts.
As health concerns ease, a growing number of individuals are seeking customer-facing jobs, leading to an increase in part-time employment. From February 2020 to February 2021, the number of Americans working part-time rose from about 17 million to over 21 million.
So, How Can a Retired Person Make Extra Money?
Firstly, retirees have various avenues to capitalize on their expertise and experience, including freelance services, or leveraging the gig economy. Barbara ‘Grammy’ Pry, a 90-year-old grandmother from New Jersey, is a prime example of retirees embracing these opportunities. Despite being in retirement, Pry works part-time as her church’s secretary, showcasing how freelancing can provide flexible work options. AARP’s study reveals that 26% of adults aged 50 and older engage in freelance or contract jobs.
Platforms like Upwork Inc (NASDAQ:UPWK) connect retirees with remote or project-based work opportunities in diverse fields. Another option is Uber Technologies Inc (NYSE:UBER), a leading player in the gig economy, where retirees can leverage the platform to work as part-time drivers. Uber Technologies Inc (NYSE:UBER) allows retirees to enjoy the flexibility to set their own schedule while earning income based on their availability.
Secondly, retired individuals who own property, such as a second home or investment property, can generate additional income by renting it out. This can be done through long-term leasing or by listing the property on vacation rental platforms like Airbnb Inc (NASDAQ:ABNB). Renting out a portion of their primary residence, such as a spare room, can also be a viable option.
Thirdly, retirement can be an ideal time for retirees to pursue their passions or hobbies by starting a small business. This allows them to do something they love while potentially earning income. Whether it’s selling handmade crafts, providing gardening services, or offering specialized tours, there are numerous possibilities to explore.
According to a survey, nearly two-thirds of Americans plan to open a small business in retirement, with 65% expressing their desire to do so. Retirees are motivated to build a business and implement strategies that can lead their enterprises to success by leveraging their experience, capital, and time. In fact, you can check out some of the businesses that have high profitability but low initial costs. We covered them in our list of the most profitable businesses with low startup costs.
The survey also revealed that 54% of retirees are excited about the idea of succeeding and taking pride in their business. However, concerns about financial security, financial commitment, and fear of failure are seen as potential obstacles.
Lastly, the Internet offers a plethora of opportunities for retirees to earn extra money. They can consider activities such as blogging, creating and selling products online on platforms like Amazon.com Inc (NASDAQ:AMZN), tutoring or teaching online, participating in online surveys or market research, or even becoming a virtual assistant. These options allow retirees to work from the comfort of their own homes and set their own hours.
Copyright: halfpoint / 123RF Stock Photo
Methodology
For our list of part-time retirement jobs that pay well, extensive research was conducted using reliable sources including US News. We also sifted through multiple subreddits on jobs for our selection. The chosen jobs were based on consensus found across our sources. Average hourly salaries were derived from ZipRecruiter, ensuring accurate and up-to-date information. Thus, the jobs are ranked in ascending order of high average per-hour salaries in the US.
Here is a list of 25 part time retirement jobs that pay well:
25. Bookkeeper
Average Salary per Hour: $20.57
With a focus on financial record management, retirees can leverage their meticulous attention to detail to ensure accuracy and compliance. The job offers flexibility in working hours and competitive wages that makes it an appealing choice for those looking to maintain financial engagement and contribute their expertise in a part-time capacity.
24. Community College Instructor
Average Salary per Hour: $22.40
For retirees seeking to share their knowledge and passion for a specific subject, becoming a part-time community college instructor can be an excellent choice. It is also one of the most well-paying part time jobs for seniors over 65. As an instructor, retirees can engage with students and facilitate learning in a supportive and inclusive environment. This role allows retirees to stay intellectually stimulated while imparting their knowledge to the young.
23. Paralegal
Average Salary per Hour: $23.81
Pursuing the role of a paralegal holds immense value as it is an excellent part time job for seniors over 65. With part-time jobs specifically tailored for seniors, becoming a paralegal allows retirees to utilize their skills and experience in legal research, document preparation, and case management.
22. Personal Chef
Average Salary per Hour: $24.39
The job of a personal chef can allow retirees to showcase their culinary expertise alongwith enjoying a flexible work schedule and the satisfaction of creating something valuable, and of course, delicious, for clients. With competitive compensation and the joy of sharing their love for cooking, being a part-time personal chef can be a rewarding and enjoyable post-retirement choice.
21. Group Fitness Instructor
Average Salary per Hour: $24.91
For retired athletes or individuals with a physically active background, transitioning into the role of a group fitness instructor can offer a seamless and fruitful career path. Hence, becoming a group fitness instructor would certainly allow them to continue sharing their passion for fitness and inspire others on their fitness journeys.
20. Electrician
Average Salary per Hour: $25.20
Retirees with a background in electrical work can find a rewarding part-time career as an electrician. Drawing upon their extensive knowledge and experience, they can provide valuable services in troubleshooting, repairs, and installations. As part-time electricians, retirees can enjoy the flexibility to choose projects that suit their preferences and availability. This make this position one of the most excellent choices for part time retirement jobs that pay well.
19. Virtual Travel Agent
Average Salary per Hour: $26.13
Virtual travel agents can assist clients in planning and booking trips, providing destination recommendations, and ensuring smooth travel experiences. With the flexibility of part-time hours, retirees can balance their newfound freedom with the thrill of helping others explore the world. Platforms like Upwork Inc (NASDAW:UPWK) can connect retirees with clients looking for virtual travel agent services, and offer a convenient avenue to showcase their skills and building a client base.
18. Insurance Sales Agent
Average Salary per Hour: $26.64
For retirees searching for a part-time job with potential for financial growth, becoming an insurance sales agent can be a lucrative choice. As an insurance sales agent, retirees can capitalize on their interpersonal skills to sell insurance policies, provide personalized guidance to clients, and build lasting relationships.
17. Librarian
Average Salary per Hour: $26.82
Part-time librarian positions are often available at local libraries, educational institutions, or even online platforms. These opportunities allow retirees to stay connected with their love for books, share their knowledge, and cherish a sense of community.
16. Nutritionist
Average Salary per Hour: $27.23
Retirees who are passionate about health and wellness can find a rewarding part-time career as nutritionists, provided a background in the field. As nutritionists, they can provide valuable guidance and expertise in creating personalized meal plans, offer dietary recommendations, and help promote healthy lifestyles. It is a highly sought after low stress job after retirement for fitness-conscious seniors.
15. Online Course Creator
Average Salary per Hour: $28.13
Retirees can leverage their prior experience or skillset in teaching and related fields to design engaging course materials, record video lectures, and facilitate interactive learning experiences. It’s a popular choice when it comes to part time jobs for seniors over 65. Retirees can continue to make a meaningful impact by empowering others to acquire new skills and knowledge, all while enjoying the flexibility and satisfaction of part-time work as online course creators.
14. Home Inspector
Average Salary per Hour: $29.16
Home inspection is one of the most well-paying part time jobs in retirement. With their wealth of knowledge and expertise, retirees can conduct comprehensive inspections of residential properties, identifying potential issues related to the structure, electrical systems, plumbing, and more. As part-time home inspectors, retirees can independently offer their services or join established home inspection companies.
13. Plumber
Average Salary per Hour: $29.34
By drawing upon their expertise in plumbing systems, retirees can offer valuable services in troubleshooting, repairs, and installations. Part-time plumbers have the flexibility to choose projects that align with their availability and preferences. Given lucrative salaries and the lack of a steep learning curve, plumbing can be one of the most profitable part-time jobs in retirement.
12. Truck Driver
Average Salary per Hour: $30.00
Retirees with experience in driving and a passion for the open road can consider part-time jobs as truck drivers. They can transport goods and materials across different locations, contributing to the supply chain and logistics industry.
If a retiree has an authorized carrier with a CLD (commercial driver’s license), they should consider joining and working at Uber Technologies Inc (NYSE:UBER) Freight services as it offers competitive salaries and flexible working hours.
11. Executive Administrative Assistant
Average Salary per Hour: $30.84
In this role, retirees can provide support to executives, handling tasks such as managing schedules, coordinating meetings, preparing documents, and maintaining efficient office operations.
Click here to see 10 Part-Time Retirement Jobs that Pay Well.
Suggested Articles:
- 12 Questions to Ask Before Early Retirement
- 15 Biggest Retirement Mistakes You Will Regret Forever
- 21 Best Places to Retire in U.S in 2023
Disclosure: None. 25 Part-Time Retirement Jobs that Pay Well is originally published on Insider Monkey.