Thursday, April 19, 2007

Part time work for seniors

I gave a talk to 22 participants at a training program organised by the Center for Seniors.

I encourage them to consider the following option, after their retirement from their current jobs:

* take a part time job
* close to the home, to avoid travelling cost and time
* accept the market rate
* contribute well to the employer
* the employer will value their contribution and pay them more or give them a full time job.

The participants agreed on this approach.

They find a rate of $6.50 to be adequate, and that a rate of $10 to be attractive.
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2 comments:

Anonymous said...

Shouldn't seniors be resting, relaxing and going on holidays and learning to retire and live life?

What is this pathetic life that we are encouraging them to live?

April 19, 2007 9:58 AM
Thomas Phua's Blog said...

I would like to retire at 55, and if I do continue to work, I want to enjoy the work.

It is a reality that many are not poised to retired and enjoy life travelling and smell the roses.

Many work to retire, retire to work again.

Ideally, I wish that most elderly can enjoy their old age and not work in McDonald's.

How many can really sit at home and be supported by their own children or even self support?

Financially, one must be able to be independent.

But some work to pass time and not really to earn a living.

Do we have $600k to $1.6 million to retire at 55 to live out another 30 years?

One should start calculating what they need when retired, and I am afraid not many work out the sum and not many saved enough to meet the future needs as well.

Have you drawn a time line chart like what I have drawn in my blog?

Start to plot what are the financial assets one has towards retirement and you will have a rough idea of how well you are poised to retire.

- Thomas Phua

April 19, 2007 9:20 PM

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