What Makes a Great Retirement Job?

A phrase that's entered the popular vernacular in recent years is "retirement job"-it's becoming increasingly common for people to talk about and plan what they'd like to do for work in their retirement. While it may seem like a paradox, individuals who stay active and productive in their retirement years are actually healthier people. Not to mention that more and more young people anticipate they will need to work longer (if not forever) since retirement as it's been known for the past couple generations will likely be obsolete. But, what makes a great "retirement job"? What should individuals be looking for and thinking of as they look for the perfect retirement job?

For many, the ideal retirement job is something they've always wanted to do, but haven't-either because they stumbled into a more lucrative career, or were trained to do something specific and felt it would be too precarious to make a switch during their peak earning years, or maybe the job didn't even exist when they were choosing and training for a career. Others may have been expected to take on a certain job or work in the family business. Some individuals think of their retirement job as something they can do when they have other income (from retirement accounts or investments) and don't have to worry about supporting themselves or dependents from income made. This could mean working in a field that is lower paying, working fewer hours, starting a business, or some other "risky" job choice.