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I am not "retired" but I have not held a "real" job in 30 years. That said, as a "consultant" I am attriting away with my consulting biz. Some due to age for I compete in a young person's work. Much due to reduced needs for my services nowadays.
I am on full Social Security, and the few consulting jobs per year I guess are my "extra" $. This must change, as office expenses, insurance, auto expense, professional dues, etc. are too much anymore.
No money in Picking, and my jewelry and metalsmithing production-if I sold it, would likely not even cover the hobby?
brad
Dave used to do contract work ... consulting in safety things like turnarounds, start ups, etc.
You could do consulting in explosives since that's your specialty. Consulting work usually pays better than normal work and you can usually set your own hours.
If I had to make more money, I'd sell my little stuffies that I make and donate. Maybe I'd go back to teaching banjo, beginner only now because of my arthritis. I'm lucky, so far, I don't need a job after retirement.
I retired last year.
What do I do for extra money? Nuthin' (so far). The world I worked in doesn't normally allow for part time work. And any other job would have to be worth it from a monetary (and time) point of view. On the other hand, it will be nice to be in a lower tax bracket.
On the other other hand, I bought a house, sold a house, and have spent goo gobs (that's a technical financial term, ha ha) of money on the new house and property. That phase has largely come to an end - the big/expensive projects are done, and I can take on the small/inexpensive projects as I see fit. Your recent building is an example - you probably didn't really need it, but wanted it, and decided that it was financially doable. We all make those decisions, large and small.
My plan is to max out my Social Security payments (USA resident), so for a few years I'll be living off of my own savings and investments. I could take SS earlier if desired/needed, but that's not the plan for now.
But that's me. That's not you or anyone else. You have to figure out what will work for YOU. And that's not always easy. A good financial planner can help. Look for a fiduciary or RIA (registered investment advisor). Fiduciaries are bound to put your interests above theirs, so they're not allowed to sell you anything that that's unsuitable for you, but which makes them a big commission. I bought a couple of things from my advisor, and while they were paid by the company that issued the products, I paid no fee whatsoever. I also ran both ideas by my sister. She lives in a different state, but she's a financial wiz. She agreed with both moves. That's meant to say that a second trusted opinion is a good thing - just like doctors, car repairs, etc.
You don't have to work with such a person or company, but if you do work with some sort of advisor, be sure to get the right kind, and someone that understands your specific situation.
Fiduciary:
https://www.consumerfinance.gov/ask-cfpb/what-is-a-fiduciary-en-1769/
https://www.investopedia.com/terms/f/fiduciary.asp
RIA:
I used to train sheepdogs. I would only occasionally take one in and kennel it here while it was being trained. What I enjoyed more was to have the owner come for regular lessons then go home with homework for the next time. I figured that way I was teaching the person to train their own dog, and they wouldn't become dependent on me. They'd be able to solve some of their own problems and only contact me once in awhile. I also used to make and sell custom shepherd's whistles (used to give commands when the dog is far away and to keep from shouting). So, yes, the dog had to be taught both verbal and whistle commands, essentially 2 languages. This all went away with the pandemic and the lockdowns.
I was involved with competing in sheepdog trials with my own dogs for many years and won a national championship in 1999, so I did have some cred in doing this. We live in a ranching / ag region, and some local people want to have their dogs help them out with the livestock, so the training isn't always directed to getting the dog trained up for competitions. It could be just for ranch work.
I used to enjoy watching the dogs learn and get better. I also looked at it like I was teaching the dog a trade in a way. It was way more valuable after it was trained than it was beforehand. It had a unique skill that would make it valuable to whoever owned it, and in a way the dog would be able to provide for its own livelihood.
I had a few part time jobs after I retired. The extra money was good I guess, but when it came right down to it, I didn't really need it. It was more a security blanket. But the one thing I came to realize, a part time job comes the same responsibilities as a full time job. You're expected to keep a schedule, be there on time, often times expected to fill in on weekends and while the full timers are off or on vacation, and you get no benefits from it. I guess I'm saying, you are tied down to part time job sometimes more than a full time job.
Anyway, something to think about in the search.
I really enjoy the freedom of being fully retired and free to do as I please without work responsibilities getting in the way.
After commuting to D.C. for 32 years to an office job I retired, then worked for a college part time for 6 years…then I got a real job…restoring and converting two barns on a horse breeding farm ….which was by far the most rewarding. Pay was not nearly comparable but sure was enjoyable to see daily accomplishments!
I recall my mammy using the expression "pin money," but it seems to have fallen from favo(u)r with succeeding generations ...at least in beautiful west-central Man-ee-toe-bah.
Iirc, NHLer Eddie Shack mentioned in his autobiography about selling hats/fedoras/?? while playing junior hockey in order to support himself in the manner to which he wanted to become accustomed. Apparently he wanted "foldin' money," as it was one of the things that separated the men from the boys [who still used coins].
Just an FYI,
Social Security does have an allowance for working part time, up to so many $ or hours a week. You have to check with them as to what the limits are, and probably age based.
I am on SS in Tennessee, with an additional pension for working a State job for 21 years at low pay in exchange for the pension. For me, any work done will be deducted from this pension, so why bother, right? Well it turns out with difficulties hiring enough school personnel in my fair State, my pension does allow a limited working life without deduction, if you work as a school substitute, assistant teacher, or bus driver. I'm not driving a bus, but working for a school (with a BS in Education) is an option. Not sure, but as a sub, you may only need a HS Diploma.
Then there's always the cash option. Anything you can find to do that offers cash may not be a bad idea. There is an app here in my 'hood called "Neighborhood". On there, you can always find neighbors posting who will pay cash for various odd jobs. Usually seniors who cannot work much anymore, and will pay for a helping hand.
Edited by - Elmo_Smiley on 08/13/2024 05:41:41
I wasn't quite ready to retire when the company I had worked at for 27 years let me go. I wasn't sure what I was going to do, but I had a skill and lots of experience in soldering and electronics troubleshooting and repair. I found a really cool job at a company in the entertainment industry. They wanted to hire me as a contractor, so I started an LLC and started contracting. After three months they made me an offer to go full time with benefits, so I hired on at 65 years of age.
Now I have been there for a year. They sent me to school to become a Certified IPC Instructor to train other people to get their certifications in soldering. Now my company wants to send me back to school to get my CIT in J-STD-020A, cables and wiring harnesses. My boss told me he knows I plan on retiring within a couple of years. He told me I have a job as long as I want, and after I retire, I can work as much as I want as a contractor doing training and Certification.
Edited by - MoPac fan on 08/13/2024 07:37:05
I've got a deal with the company I used to work for full time. Enough work each month to pay for 2 theatre or opera tickets and a meal in a decent restaurant. Mostly producing training materials and mentoring. One day soon they'll have emptied my brain and/or there's too much new technology that I don't want to learn and I'll be fully retired. That and a couple of half day volunteering roles are enough work for me.
I always thought that after retiring from the telephone company I would miss the work routing and find something else. I did get one call from an old boss who was trying to find a lacky for one of the contractors. I said 'no thanks'. After that I quit having those silly illusions. I did go busking once with a temporary bluegrass band at a farmer's market. It was cold and raining and I made $6. As of the end of this month I will have been retired for 15 years. My current ambition is to try for an additional 15 years.
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