For those retiring Boomers who can put together a number of sources of income to pay the bills, working "on the side" may be an attractive option. It offers flexibility to do other things in retirement.
This creative way of thinking about part-time employment focuses on generating what I call "gravy income" -- income that is not absolutely essential but subsidizes other income. It's even better if working on the side offers the opportunity to pursue gigs, freelancing or contract work (whatever you want to call it) using skills from your past full-time working life. This can be both gratifying and stimulating.
If that sounds like something for you, take a look at "The Retiree's Guide to Starting a Side Hustle," published by The Balance. Writer Sarah Szczypinski first discusses the steps to "side hustling," including how to coordinate it with Social Security, create an online presence and use your skills. She then provides descriptions of and links to various professional websites that act as entry points to potential work, some of which can be done entirely online. Opportunities include paid mentoring, consulting and all types of contract work. An additional consideration, she says, is to rent out a room or a second home with a service such as Airbnb which can substantially bolster a retiree's income.
Szczypinski writes, "The gig economy isn’t going away, and there’s a sea of opportunity (and income!) available for those who search. Take advantage of flexibility in retirement and dive in. A side hustle can lessen the financial burdens of aging."
Working only when you want on a flexible schedule and generating gravy income sounds like a pretty good post-full-time employment life, doesn't it?
HappilyRewired.com is a Top 75 Baby Boomer Blog.