I just turned 54 years old and I have been thinking about what retirement could look like.
Are you planning on retiring soon? Perhaps you’re even thinking about early retirement! As you start to look ahead to your post-working life, it makes sense to start easing yourself into it. Many people look to change their jobs and even careers as they approach retirement, going into a form of semi-retirement in the last few years. It can be a great way for you to wind down, and takes a lot of the stress out of working.
If you’re looking for ways to slow down before you retire, take a look at some of these wind-down career options that could be the perfect solution for you.
Go part-time
Most of my working career has been composed of many part time jobs.
Switching to part-time hours is one of the easiest ways to wind down at work before you retire. Not only will it mean that you get to stay at work and do something that’s familiar to you, but you’ll be able to enjoy a lot less stress in your job. Being part-time will give you the chance to pursue other interests, spend more time at home and enjoy being with your family. You can think of it as a form of semi-retirement to help you ease into the real thing in a couple of years.
There are a lot of benefits that come with working part-time that are worth considering, and if you’re in a position to do so, you might want to think about going part-time much earlier in your career!
Become a consultant
At one time I was a financial advisor. Even after 15 years since I quit my job as a financial advisor, I still get some consulting gigs. Some I do for free, and during some others I charge a premium fee.
Becoming a consultant could be an excellent way to wind down from your career, but remaining in your current field. Being a consultant is great because you get to use your expertise to advise others and have much more flexibility in your work. As a consultant, you’ll likely get to charge a generous daily rate, which could mean you could earn more by doing fewer days or hours.
Try freelancing
Right now, I get many freelancing gigs as a content writer. It keeps my brain sharp and I can earn some extra cash.
Freelancing is another option for gaining more flexibility in your job. Not only does it give you the chance to choose your own working hours, but it also gives you control over who you work with. Freelancing requires a lot of discipline, and you’ll need a home office to work in. After a period of freelancing, you might even decide to continue with it after you retire as a good way to make some extra money as needed.
Teach
I was a dance teacher for over 10 years. Teaching is one of the money making activities which gives me the highest amount of pleasure.
After a long career in your industry, you could use your knowledge and expertise to help others. Teaching is an excellent way to pass on your wisdom while allowing you to still maintain your passion for your field.
Find a less stressful role
I am totally against stressful jobs. It’s not worth it. It’s better to earn less and have more peace of mind.
Many types of jobs are stressful, and over the years your career could start impacting your mental health. Long hours, high demands, and pressure to meet targets are not something you want to be dealing with as you get older, so finding a less stressful role could be the perfect fit for you.
Work in the community
I admit it, I haven’t been too generous with my time. I have done almost no volunteer work. This is something that I will change in the future.
Why not use your pre-retirement years to help make a difference to others? There are a lot of jobs that help people that can be a highly rewarding way of working. By working with others, you can use some of the skills you’ve developed over the years to make a difference and introduce yourself to some wonderful new people. Working in the community can be very satisfying, and a great thing to do after leaving your current job and industry.
Get a side hustle
I know many people who do side hustles. I have done many myself. At one time I was an Uber driver. I used to drive two hours per day.
Side hustles are becoming more popular as people look at ways to grow their income, helping you to find other ways to make money that aren’t always linked to your career. There are many types of side hustle that are perfect for all kinds of experiences and abilities. You could do something that’s related to your field, or you could try something different altogether like investing. Side hustles can give you some additional income after your retirement too, so they’re worth starting now to get you into the habit ready for retirement.
Become a landlord
A great way to make money as you approach retirement is to become a landlord. Investing in a rental property can get you an easy income, with little effort required once your property is complete. Many people invest in real estate to boost their income and wealth, and this could be a fantastic long-term solution for you.
Becoming a landlord is not for every one. For me, it’s too stressful, but for many of my friends it has been a positive experience.
Retire early
Are you in a position to retire early? Perhaps you could be within the next couple of years. A lot of people are looking to retire early to make the most of their free time and do more of the things they love. You could retire early by trying some of the methods above to grow your income. Early retirement isn’t for everyone, but it’s certainly something that you can work towards if you wish.
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