The best prevention of expiring too early is retiring early. Most people dream of working hard in their youth and retiring as soon as possible. This keeps a lot of individuals brainstorming on what could be the Best careers for early retirement. While some people are lucky to retire early in life, several others work throughout their lives to make ends meet.
Best Careers for Early Retirement : Early Retirement Planning Guide
It is important that if you desire early retirement, you need to understand that from the onset, you need an elaborate early retirement planning guide. Early retirement may seem fancy on paper but without a well-implemented early retirement planning guide, you risk working way past your intended retirement time.
Sometimes early retirement could be a matter of personal choice and passion and not that such individuals can’t survive without working. Several veterans of different fields have retired to their country homes where some engage in jobs like landscaping or even fishing. Early retirement here doesn’t mean doing nothing at all, it means doing what you love doing just because you love doing it.
Whether you wish to retire early because you want to spend more time with family, traveling, and exploring the world, CareerGists has brought you this list of the Best careers for early retirement. It would be immense luck if you came across this post as a young person still pondering on what career to go for that can guarantee a stable future where you don’t necessarily need to continue working past your prime to survive. But for whichever motivation you seek early retirement, an early retirement planning guide is an essential aspect of the process.
What is an early retirement planning guide?
An early retirement planning guide is an outline of how you intend to attain your early retirement desire without incurring many unforeseen negative consequences. An early retirement planning guide has to be very versatile because you are preparing for an uncharted territory. Your future is an uncharted territory, you haven’t been there, and no one has been into your future so you are planning for something you have no idea how it will turn out.
The first step towards making an early retirement planning guide is to consider what career path would guarantee a successful implementation and accomplishment of your early retirement objective. Your early retirement planning guide has to draw inspiration by answering the question of what the best careers for early retirement are.
It can be disheartening sometimes to see several aged individuals of the last generation struggling to earn a living. Several career mistakes could have contributed to such misfortune. Some career paths are more likely to guarantee not just an early retirement but sufficient provisions throughout life. This is why it is important to fashion your early retirement planning guide.
Early Retirement vs Resignation
It is nearly impossible for one to retire while still alive; life itself is a career in progress. But examining early retirement vs resignation creates the question, is early retirement the same as resignation? No, they are two different things, retirement often signals an end to active engagement in a duty or career path while resignation on the other hand may have individuals who resigned from their job looking for a job elsewhere.
When we look at these Best careers for early retirement, we are paying attention to active engagements in such careers; this is because some individuals have retired from one job just to pick up another but in such cases, would it still be retirement or resignation?
In understanding early retirement vs resignation, we need to realize that sometimes these two terms are used interchangeably but they are two different ball games.
Is early retirement worth it?
Sometimes you could be wishing for early retirement but all you may need is an interesting lifetime career thereby raising the question, is early retirement worth it? Most of the time, while individuals dream of early success to gain early retirement, it is not exactly the case.
Success can be complicated and most successful people would rather stick with their enterprise through life than retire early. This experience leads us to ponder further on early retirement vs resignation, to attain such early retirement, most individuals resign from their jobs.
As one gets older, it can come with the reality that the best things to live for are those things one has given everything for. Even now you dream of early retirement, you could make the success, even more than enough to see you through the rest of your life without needing to work yet you may realize later that the purpose of life is the passionate empire you have built.
Outline for Best Careers for Early Retirement
There’s no guarantee that after finding the Best careers for early retirement and making enough success you would want to retire early. Most people get attached to the pursuit of their youth which would then hold a majority of their passionate memories. With these views in mind, we have listed a few career paths that can guarantee an easier part towards early retirement if one desires. These include:
- Running a Personal Business
- Entertainment (Hollywood or the American Music Industry):
- Sports
- Real Estate Investment and Landed Properties
- Military Service
- Tech Career
1. Running a Personal Business
Running a personal business has remained the surest way to economic freedom. Individuals who own their businesses are at liberty as to when to open or close their businesses. At the same time, they are at liberty to decide when to retire.
Several successful businessmen and women can secure assets that could see them through early retirement.
2. Entertainment (Hollywood or the American Music Industry)
It is a bit hard to prove whether entertainers simply retire or just expire. Entertainers have a shelf life, and Hollywood has a timeline when actors and actresses are in their prime.
Also, the Hollywood lifestyle can endanger aging stars. It could become tough to maintain the celebrity status and lifestyle that usually comes with Hollywood in the prime times.
Anyone who desires Hollywood as an early retirement option must be intentional. While it may seem like Hollywood and even the American music industry may look like an ideal mention when considering the Best careers for early retirement, it can be dicey.
Several people retire from the big entertainment scene to oblivion and penury. As stated earlier, if you want Hollywood or the music industry to be your early retirement ticket, you have to be very intentional and avoid the pressure and ostentatious life of the stars, if not even retirement to a peaceful and calm life can prove complex after a successful Hollywood or music stardom.
3. Sports
Sports careers are some of the highest paying in the world, to make it even much better most sports from boxing to football, swimming, wrestling, and other athletic sports are dominated by young people. Those who are lucky to make it to fame and wealth can retire relatively early if they desire. At 40, Instead of beginning to peak your career, A footballer or athlete has retired from active service in the art.
4. Real Estate Investment and Landed Properties
A successful real estate career can put one in the part of financial security for a lifetime. In most cases, real estate and land values continue to appreciate.
Often even without putting such real estate ventures up for sale, investors can lease or rent such properties for periodic revenue. This can ensure a lifetime of financial security. With a successful real estate investment career, such an investor can choose to retire early.
5. Military Service
Because of the youthful need for the armed forces, officers can legitimately retire earlier than other careers. Also, the United States armed forces have a considerably amazing salary structure.
Savvy military veterans can have a decent retirement when other post-retirement benefits are put into light. A good career in the military can secure a decent living afterward. The majority of the early military retirement doesn’t afford the kind of retirement most young people dream of but the majority can certainly afford a decent and relaxing time worthy of the service and sacrifices.
If you are aiming for a luxurious retirement, unless you reach the top echelon, the ideal military retirement benefit is designed to afford military veterans a decent and not extravagant retirement. However considering Best careers for early retirement, the military service isn’t left out in this.
6. Tech Career
Several tech Geniuses have built apps, and sold them, and now swimming in money; keeping a relatively low profile. Well, the truth is that not everyone desires early retirement; apps like Instagram, WhatsApp, and even Twitter were built, and at some point sold by their founders.
Such founders can call it a retirement if they so desire. The most important thing is that if they choose to retire and manage their wealth well, they will be fine for the rest of their life.
Several other people in the tech space can go on retirement at any point they choose, success has a way of making people forget retirement; maybe that’s why people like Jeff Bezos, Mark Zuckerberg, and Larry Page are not thinking about early retirement but gearing up towards achieving more for humanity.
Best Jobs for After Retirement
Like every phase in life, new challenges await, this is applicable to retirement. The burden of life doesn’t get any easier because of retirement, in several cases; retirement can leave one, getting old, idle, and jobless. This is why we put together this list of best jobs for after retirement. This is aimed at engaging our disengaged veterans. Although most people understand that at a certain age and stage in their career path, they will retire, the majority of retirees often find themselves unprepared.
Several people find themselves retiring, yet the critical reality of a world that’s constantly outpacing the elderly brings an urgent need for retirees to find something to do for the sustainment of life. Minimum retirement pension in the USA may not afford a comfortable living for adults or elderly individuals potentially living with dependents in present-day United States.
Minimum Retirement Pension in the USA and Social Security Benefits
Most retired individuals rely on two retirement benefits for survival: pensions or social security benefits. Depending on the kind of work a particular retiree did during his time of active service and how long they stayed in active service, retirement benefits may not be enough to sustain an aging individual in the present economic reality. Looking at the minimum retirement benefits in countries like USA, one may be tempted to ask, but what is the minimum retirement pension like?
Depending on the area where retirees observed active days, retirement benefits may be as low as $100 a month, this is applicable to social security benefits as well, and in several cases, this can be less. Now putting a minimum retirement pension in the USA or even social security benefits at about $100 per month, one can see that in the majority of cases, this amount is grossly inadequate.
Note that both pensions and social security benefits can be way more than the minimum benefits. However one can see that the minimum benefits are most likely insufficient which explains why pensioners have never had it so good.
Why pensioners have never had it so good
When you understand the mechanism of pension or social security benefits, you will realize why pensioners have never had it so good. The pension mechanism is one whereby a fraction of a worker’s earnings is set aside to be regained at some other time mostly during retirement.
Now that you realize that pensions are actually part of a worker’s earnings during the active years; in most cases, you would realize why pensions don’t always come in huge because it is a little fraction set aside for future use.
Now we can see why in most cases, pensions are not enough. This brings the need for retired individuals to find other sources of income.
List of 7 of the Best Jobs for After Retirement.
Such jobs include:
Writing
As a retiree, your work days and other life experiences must have come with loads of things to write about. Today it is easier to earn money through independent publishing and freelancing. Such retirees can write books and distribute them through different eBooks stores. If such a retiree is lucky, such a person may find a publisher who may print hard copies of works. Still, platforms like Amazon use print-on-demand services to distribute print versions. These options create opportunities for retirees with a passion for writing.
Counseling and Public Speaking:
Similar to writing, counseling is another aspect of life that requires the wealth of experience and wisdom that often comes with age. Retirees may find a decent career providing counseling and advice to individuals of different spheres of life in exchange for a decent earning.
Join Politics
Even as a retiree, you are not too old for politics, running for office is not going to be a bad idea as your ideas, knowledge, and experiences may be needed in the political space to usher positive reforms. Perhaps you worked in a strategic industry; your wealth of experience may be crucial in transforming your community.
Teaching
Depending on the sectors where you passed your active career days, your knowledge may be needed in schools. It may be a nice idea to try teaching if your earlier career path or your expertise can foster a transfer of your accumulated knowledge.
Start a Business
Several individuals retire below the age of 70 years. Several septuagenarians can still run some businesses effectively. In fact, a great percentage of the world’s biggest business moguls are above the age of sixty years. Retirement time would be a great moment to pursue a new business career. In several cases, the experience gathered during active working days could make for success when appropriately applied in the business environment.
Childcare and Nanny (Baby Sitting)
Several retired individuals especially women can find another meaningful source of income by becoming babysitters. This entails taking care of children whose parents are busy at work or absent given other reasons. Caring for children requires patience, understanding, and love. Often these virtues are present in abundance in several women of retirement age.
Become a driver
Retired individuals especially males can find a profitable source of income by driving school buses or even taxis. Since on several occasions, driving needs adequate knowledge of the locality, retired individuals who have lived in such locality for years have grown familiar with the terrain as such become good candidates for driving roles.
Conclusion
Some careers are more likely to bring early success which may make early retirement possible. Choosing from these best careers for early retirement or some other careers not listed here is a personal choice that can materialize with success. Success on the other hand can be addictive. This makes early retirement decisions sometimes unpredictable. Most people may prefer to keep going if the going is good.
Even if such a person has plans for early retirement, they may jettison such plans and continue pushing for success. The most important takeaway from this Best Careers for Early Retirement outline is that it can make aspirants work harder. Note that early retirement is not exactly a career thing it is a personal desire but some careers are more likely than others to make the early retirement dream a reality.
The retirement stage is a very crucial point in a worker’s life. The salary stops coming and the benefits are way less than previous earnings. Given that most retired individuals could even have more responsibilities than in their active days, finding another source of income is important.
With the understanding that the majority of individuals facing retirement are either weakened by age or active service, we put up these best jobs for after retirement and best career for early retirement with consideration of those limitations. Apart from these jobs, several other jobs suitable for retirees abound. Retirees need to find a means of sustenance rather than be abandoned in penury.