If you’re transitioning into retirement — or want a job during retirement — where should you look?
This is a compelling question if you’re over 60 and want to keep working. You may need to garner some extra income or simply want to stay busy. There seem to be ample opportunities in a healthy economy, which has been supremely challenging this year.
The most encouraging news, according to a recent study by the Center for Retirement Research at Boston College , is that “the jobs potentially open to older workers tend to pay better but are less likely to provide benefits.”
It’s a mixed bag, according to the research. Some employers want older workers for certain jobs, but they are rarely lucrative and may not offer health insurance. They may be best suited for workers gradually moving into retirement who have health coverage elsewhere (perhaps through a spouse or through the Affordable Care Act).
The research surveyed five major sources for job openings and found the highest number of openings for these occupations:
1) Office/Administrative Support
2) Healthcare Support
5) Transportation/Material Moving
What do these jobs pay? It depends on your level of education and skills.
“Many of these heavily represented occupations offer relatively low pay. Looking at full-time annual salaries, the averages in the three most common occupations are $35,800 (office support), $22,900 (healthcare support), and $52,400 (sales); these numbers compare to an economy-wide average wage in 2019 of $51,500,” the researchers found.
“Naturally, occupations requiring more education and skills, such as management, computers, engineering, and health and legal practitioners, offer much higher salaries – over $65,000.”
Of course, many of these positions will open up even more once the economy recovers. We’re in a recession as I write this and most employers are in a painful transition due to COVID.
In any case, keep your eyes open. There may be some interesting positions opening up.