Coming to a halt in life when spending decade after decade working can come as quite a shock. After spending so many years working long hours for five days a week, it can be a little bit unsettling trying to make the transition to a life of leisure.
If you’re the type of person who feels as though they need to keep busy after retirement – and it’s perfectly natural to do so – then you might want to consider some part time employment once you hit preservation age.
Not only will this help to supplement your retirement income, but it will also give you something to do with your spare time.
what are your options?
Getting a job after you reach retirement age doesn’t necessarily mean embarking on a new career and working nine to five everyday! Instead, you may want to start up your own business, help out a friend, or take on a role that you have always wanted.
In fact, starting your own business after retirement will give you the freedom to work the hours that you want, wherever you want – maybe even poolside at your home, or while you’re travelling abroad.
Being your own boss means that you can take off as many days you feel you might need – although your business might suffer from extended absences!
And if you have a child or family member that needs your help and expertise with their business then you can be a very valuable asset to them!
get financial advice
Before you think about taking on work after you reach preservation age, you might want to consider seeking financial advice from a financial planner first. This is important, as any pay that you get from a job may possibly have an impact on your retirement income.
Currently, the federal government has a Work Bonus scheme available to those retirees that continue to work. This allows you to keep more of your income from your work with little or no impact on your pension.
Alternatively, you could consider using the transition to retirement grant, which will allow you to gradually ease into retirement life.
we can help
If you are thinking about planning retirement, we can help. Why not get in touch by calling 1800 626 881 or by using the ‘contact us’ tool on our website.