Chris Schutte has no plans to retire. He’s in his early 60s and the CEO of Astral Foods, one of Southern Africa’s largest poultry producers. ‘I don’t like the idea of it. I see so many people today who are at their peak at 65 – but one day they are worth a lot in terms of experience and the next they are sitting at home.’

Schutte’s view is shared by many older workers around the world who are simply not ready to retire when the company they work for says so. Instead, they want to continue throwing their energy and experience into their work, enjoying the satisfaction it brings and putting retirement plans on the back burner. 

This is of course also particularly relevant in the current economic circumstances, where many people are just not financially ready or able to retire at the ‘normal’ retirement age.

Working after retirement – why do it?

There are a number of good reasons and benefits to continue working after you reach retirement age. Here are five.

#1 It’s easier than ever

‘There are so many more choices for work beyond retirement,’ says Lynda Smith. She is the CEO of 50 Plus-Skills and Refirement Network and helps seniors identify second careers through life coaching. Combined with the growing acceptance of flexi work and freelance contractors, it is very possible to find work to fit your schedule.

In addition, the booming gig economy, which is built on flexible work contracts instead of full-time jobs, and the technology that makes it possible for people to work from almost anywhere, is opening doors that didn’t even exist 10 or 20 years ago.

#2 The need to earn

The reality is many people can’t or don’t save enough towards retirement. Plus, when you add the likelihood of ups and downs in the housing market, poor performance on investments, inflation and rising medical costs, it’s quite possible that retirement will be unaffordable for many.

#3 A financial advantage

By continuing to earn, you will be able to continue adding to your investments or savings to boost your income when you finally retire. Remember to speak to your financial adviser and tax consultant about the tax implications and how best to structure your income.

#4 We love to work

‘All life transitions tend to shake us up and encourage reflection,’ says industrial psychologist Gillian Donà. Start exploring options a year or so before your retirement date so that you know what you want to do on the first day you no longer have to clock in at work. Think what your skills and talents are and how you’d really like to spend the next stage of your life.

#5 It’s good for your health

Work provides so much more than a pay cheque. A study by the UK’s Institute of Economic Affairs found that 40% of retirees suffered clinical depression, while six out of 10 reported a decline in health after retirement

A career after your career

You may want to remain in the field which you know well, but a second career also provides an opportunity to take on a different job that is more fulfilling or requires fewer hours; something entirely new. After a lifetime in finance, you may want to work in a bookshop or create online how-to videos on woodwork, your lifelong hobby.

Smith suggests three factors to consider when thinking about working after retirement – the skills the world needs, how you can use or adapt your skills to meet that need, and whether you will love doing it.

So, what can you do to earn an income after retirement? Here are some home-based post-retirement career ideas to get you started.

Embrace online opportunities

Technology has truly opened up the world. Not only can you rent out a room in your home, privately or through a website like Airbnb, you could bid on quick contract jobs through platforms such as Fiverr.com, or work remotely for employers in other countries. Alternatively, you could put all your years of work experience to use and become an online consultant.

If you need some inspiration, browse free websites like Refine Network and Indeed or sign up with RecruitMyMom or 50 Plus-Skills. Retired teachers can sign up with Education Matters to find tutoring jobs in their area.

Become a coach or mentor

Mentoring goes beyond passing on technical knowledge, which can often be found in manuals. It’s rather about sharing a lifetime’s worth of hard-earned experience, and at the same time learning from the person you are mentoring.

‘Retirees offer so much more than extensive technical or industry-specific skills,’ says Gillian Donà, an industrial psychologist who runs Career Craft, a career-coaching consultancy. ‘They provide a wealth of life experience that can only be acquired through the ups and downs of life.’ Schutte agrees: ‘Our youngsters benefit from all that experience which would otherwise be lost.’
And the best part? You can coach or mentor anyone anywhere in the world.

Work as an au pair or carer

There could also be an opportunity to help out the younger working parents in your neighbourhood with childcare, or chores like getting their kids to and from school.

You could offer house-sitting or dog-walking services to supplement your income and enjoy a change of scenery while doing it.

With many parents struggling to home school their children while balancing a full-time job, there is an opportunity to help facilitate online lessons.

In addition, there are endless opportunities to care for and assist the elderly, both in South Africa and abroad.

This article originally appeared in Today issue 1 2019 magazine.