I talked to a man on the phone this morning who told me he is 67 and collecting three pensions -- all of them from companies in the financial services area. But he can't retire because they don't add up to enough to allow him to live comfortably.
To increase his retirement income, he plans to work for three more years until he turns 70, so he can maximize what he can collect from Social Security. Then he may quit -- or if he feels healthy enough, he says he may stay on the job.
A new survey by online job-search site Career Builder suggests that working longer is becoming an increasingly common retirement planning strategy. Career Builder found that 60 percent of workers age 60 and older plan to look for new employment even after they retire from their current job.
Career Builder also surveyed employers and concluded there are good reasons for older workers to feel optimistic about finding a new position. Some 48 percent of employers told Career Builder they plan to hire workers who are 50 and older this year. And nearly 60 percent said mature employees offer valuable knowledge to an organization and can mentor others.
Career Builder offers these tips for older workers who are job hunting:
- When you are updating your resume, highlight both professional and personal experience that shows you have leadership skills or that you know how to weather a tough economy.
- Keep your skills current. Point out to potential employers that you've taken courses or attended seminars.
- Tell everyone that you are job hunting. Reach out to former colleagues, vendors, clients, both online and off.
- Be flexible about considering part-time or freelance work, even if your goal is working full time.