How to Go Back to Work After Retirement

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There are a lot of different reasons people may decide to go back to work after retirement. It could be because they didn’t save enough. Or it could be that their financial situation changed. Perhaps it’s due to sheer boredom.

No matter what the reason, though, many people do find they must return to the workforce even though they have already retired. If you are one of them, here is how to go back to work after retirement.

1. Accept It

If you retired but need to go back to work for whatever reason, you may be feeling robbed. You may have thought you would be able to relax and enjoy life now that you are getting older but find you must go back to the grind of employment instead.

Older workers who re-enter the workforce can feel depressed, frustrated, angry and, as if that is not enough already, discriminated against due to their age.

But accepting what must be and looking at it from a positive angle helps. For instance, consider entering a line of work you always wanted to do but never pursued in the past. Don’t just look for a job, but a career that you are passionate about and will make you happy.

2. Get Inspired

Being a retired worker can leave you feeling insignificant and unmotivated. However, you should keep in mind that going back to work now that you are older allows you to keep your mind and skills sharp and your body active.

To combat feelings of being unappreciated, look for a meaningful job that allows you to contribute in a way that makes you feel good about coming out of retirement. Look for work that plays to your strengths or helps you feel inspired about getting up and going to a job each day.

Changing how you feel about going back to work allows you to be open to what could be a new and exciting career.

3. Update Your Image

These days, just updating your resume is not enough when you go back to work after retirement. You must also keep your skills up to date, create an online presence and maybe even a personal brand.

To do this you should polish your resume which may mean having an expert rework it to make it more modern. Furthermore, you could utilize a professional networking site to help you connect with other business people and expand your options.

Your personal image is also important. Dress modern and in current styles. Get physically fit and take care of your appearance. All of these things can help you appear more desirable to potential employers.

4. Begin Your Job Search

Did you know that older workers are often actually more productive than younger ones? Although some employers do tend to hire younger workers, this is not the case will all of them. There are some vocations where having more experience is helpful and employers will appreciate your knowledge, age, and skill set.

Other areas you may excel in and should showcase to potential employers are leadership skills, management, organization, writing skills, and problem-solving. Believe it or not, it can actually be an asset for you to understand both old and new technology when you are an older worker in a tech job.

As an older worker, you must sell these strengths and abilities when you are applying and interviewing for a potential job. Your talent and experience may just land you the job of your dreams as you go back to work after retirement.

5. Consider Your Options

Figuring out where you fit in as you consider re-employment is not always easy. But with age comes the experience and wisdom some employers may find desirable.

Customer service, retail, and elder care are a couple of areas where being an older worker can be an asset. A few other choices include working for a non-profit organization, substitute teaching, becoming a consultant, or running a rental business of your own.

If you are great at multitasking and handling interruptions, a busy medical office or other fast-paced occupation might be a good fit for you.

Depending on your skills and interests, there are lots of different jobs you could do well at as an older worker going back to work after retirement.

It is possible to go back to work after retirement and be happy and productive as well. Use some of these tips to help you re-enter the workforce and enjoy this stage in life to its fullest.

Have you left the workforce to retire and found the need to go back to work?

Jeanne is a married mother of 2 grown children who works a full-time job, has two side hustles, and also helps out occasionally on the farm she and her husband own together. Her background is finance and medical office management, and she hopes to help others improve their finances and change their futures.

3 Essential Tenant Insurance Tips for Students

When joining college, the last thing that parents and students think about is renter’s insurance. At first, it might not seem important. Until your laptop gets lost or a fire occurs. In this case, your expensive possessions, entertainment systems, TV, clothing, and other electronics, are at risk. You want to invest in some form of insurance before you move in. But how much do you know about tenant insurance for college students?

Well, this post is going to enlighten you on some of the essential tips for insurance. Read on to learn more.

1. Where You Live Matters

If you live in on-campus housing or at home, your parent’s renters insurance policy will cover you. But you might want to learn more about living in on-campus housing. The Association of Insurance Commissioners (NAIC) says that students aged below 26 years can only use their parent’s tenant insurance if they live in a dorm.

In this case, you want to know more about the insurance’s property limit. For example, if your parent’s home insurance company offer off-premise coverage, be sure to know what percentage is allocated to it. The insurer can limit the coverage to 10 percent of your parent’s renters insurance. This coverage can also have limits on items, such as laptops.

If the policy has limits, your parents will need to add a floater (personal property coverage) to their plan to cover all your valuables while at school. All schools have recommendations for safety and protection of personal belongings. Be sure to get this information from your college in advance.

2. Off-Campus Housing

Some students enjoy the freedom of living off campus. Therefore, they’ll consider renting a house with a roommate to co-share the costs. This certainly comes with various financial obligations, including the tenant insurance cover. How exactly are you going to handle this?

For an off-campus living, your parents’ insurance won’t extend to your house and belongings. You’ll need to get a tenant insurance policy to cover your possessions from any possible loss. The policy will also provide liability coverage to protect anyone who get’s injured in your house or any accidental damage to the property.

You’ll need to ask your agent about the policy’s limit. Some plans may also require additional coverage for specific valuable items. Also, remember to keep an inventory of your possessions as this might help when filing claims.

3. Things to Keep in Mind

Without insurance, you’re personally liable for all damages to the building that are caused by your actions. You’ll also be responsible for any person who is injured in your place. Landlords have few legal obligations when it comes to compensating tenants for any loss they may experience on their property.

In fact, some landlords usually require new tenants to have a renter’s insurance before renting a house. With the rise of theft on campuses, having a contents insurance is something you can’t just ignore. If you’re unfamiliar with these insurance providers, squareoneinsurance.com for example, could be a perfect site for getting to know all the basics.

A personalized insurance plan allows you to protect your favorite items and only pay for what you need. You can also get protection for critical cases, such as break-ins, fires, burst pipes, and sewer backups.

Get Covered!

Joining college for the first time is usually quite exciting. There are many things to learn and new people to meet. With that in mind, don’t overlook the importance of insurance to cover your personal belongings. Talk to your parents about getting student’s insurance before you leave for college. Be sure to work with an insurance company that has excellent customer service and handles claims professionally.

A Parent’s Financial Advice

child-1073638_640When you’re just 18 and itching to leave their house, you don’t really want to listen to what your parents have to say. There’s a big, wide world out there to explore, and you can’t let their nagging hold you back. Now that you’re older and thinking about becoming a parent yourself, things have changed. Now your parents have advice you want to hear.

Don’t worry about the past. Your parents went through the same growing pains as you did, and your children will likely act the same. The important part is that you’ve realized what a great resource you have at your disposal. All you have to pick up the phone or drop in and hear what they have to say. Moms and dads know how to pinch some pennies. In honour of that skill, let’s take a look at the best financial advice parents can give us.

Rely on a Budget

Spending money without prejudice can run you into deep trouble. Having a financial plan can keep your spending in check and help you put aside savings so you can do things that you’ve always wanted to do, like travel the world or go back to school.

Just make sure you’re in possession of the right facts before you table yours. Spend the time to learn all of your fixed and variable expenses in the average month. You can do this by going through your bank account and focusing on your withdrawals over the past 6 months. Separate them into categories, like rent, clothes, food, and gas money, then average their costs. You’ll have a better understanding of how you spend your money, and which habits you can cut out to increase savings.

Start Saving Right Away

Chances are mom and dad have told you how they wish they started saving when they were your age, so why wait? Start talking to your bank about RRSPs, GICs, TFSAs, and mutual funds. Don’t worry if you’re already confused by all of the acronyms. A financial advisor can explain which options work best with your salary.

Until you book an appointment, you should be setting aside a portion of each paycheque into a savings account. Some experts suggest as much as 20% of your income goes towards savings, but there’s no hard number that you have to hit. As long as you’re putting some money away, even if it’s just a handful of toonies each week, you’re in a better position than if you weren’t!

Don’t Worry About Needing a Loan

In today’s economy, it’s normal to rely on loans to get what you need. You’ll need a loan for most big purchases, like buying your first home or leasing a new car. You may even need a little help covering an unexpected bill or two, especially if you haven’t had time to let those saved toonies to accrue interest.

Mom and dad would recommend getting a loan to help you, as long as you’re smart about it. Take the time to research a payday lender like GoDay and compare them to conventional lenders like the nation’s top banks. When you need fast access to cash, a quick payday loan may be your only option if you want to pay your bill on time. As a direct lender of payday loans, GoDay offers quick and convenient assistance — in some cases you can get the money you need in as little as one hour after you’re approved.

Mom and dad have always been there for you. When you were a kid, they taught you how to drive and saved you from every monster under the bed. Now that you’re older, they’re still helpful — just in other ways. They’re a great resource from when you have questions about your finances, so pick up the phone and get their opinion. They might just have a great idea up their sleeves.

You Need Life Insurance

Many millennials realize they need life insurance when they have children. You want to protect this new human you’ve brought into the world, and that means financial protection, too. Another reason millennials consider life insurance is student loan debt. You’d hate to pass on that debt to your kids if you should die. A life insurance policy will waive that debt as long as you didn’t have a cosigner on your student loans.

Insurance rates go up when you hit age 35; young people have the lowest health risks, so unless you engage in high-risk health behavior, you’re likely to lock in a low life insurance rate. That’s why you should go for life insurance as a young millennial if you’re thinking about having kids. Do it now, even if those kids are far in the future. List your parents or a sibling as your beneficiary if you’re young and unmarried. If you’ve already got a spouse, then that person is the perfect beneficiary. You can change it to your kids when they come along.

Good news if you’re a woman: you’re considered a lower risk than men the same age as you. So, if it’s between you or your husband getting life insurance and you’re on a tight budget, you might be the best option. You’ve got a lot to think about before getting your life insurance policy. Make sure you don’t believe any myths about life insurance. Up your knowledge by taking the Health IQ Quiz and learning about the benefits of getting insurance young.