3 Essential Career Moves For Older Professionals Behind On Retirement
Career Moves For Older Professionals are more important than ever, as nearly 3 million more Americans over 65 are working compared to a decade ago. It’s a sign that many are behind on retirement savings. Motley Fool estimates that only 28% of Boomers aged 60 to 67 have the recommended savings, and over 10% of older Gen X and young Boomer workers have taken a pay cut to stay employed. If you’re an older professional concerned about retirement, there’s still time to implement strategic changes. Here are three smart career moves you can make today to catch up.
1. Target High-Paying & Senior-Friendly Jobs
One of the most effective Career Moves For Older Professionals is aiming for roles that value deep experience while offering strong compensation. Resume Genius has identified 10 high-paying jobs particularly friendly to older professionals. These roles generally offer positive job growth and do not require intense physical labor, making them ideal targets.
Here are some of those top-paying roles (based on hourly median wage):
- Sales Manager: $66.38
- Computer Systems Analyst: $49.90
- Management Analyst: $48.65
- Accountant And Auditor: $39.27
- Social And Community Service Manager: $37.61
How to Pivot Your Career Into These High-Paying Roles
As an experienced professional, your extensive network is your greatest asset. Leverage your strong relationships to identify and influence the decision-makers in your target field. This targeted approach is often far more effective than submitting a generic, unsolicited application.
If your network is deep in B2B or consumer sales, focus on one of the four sales roles listed. Alternatively, if your years in the workforce have equipped you with diverse managerial skills, target one of the three management positions. Your experience is your advantage—use it to your full benefit.
2. Work to Develop Multiple Streams of Income
Relying on a single employer leaves your retirement savings vulnerable to unexpected restructuring or layoffs. The wealthy understand the power of diversification through multiple streams of income—a strategy you should adopt too. Developing additional income is a crucial one of the Career Moves For Older Professionals.
Translate Your Body of Work Into a Consulting Practice
Your hard-won expertise makes you a valuable advisor to others in your industry. Consider working as a consultant, even while actively searching for a full-time role. Temporary contract work can even convert into a permanent job or, at the very least, acts as a resume builder and income source.
Identify Income Streams Unrelated to Your Profession
A personal passion can quickly become a profitable side gig. For example, your dedication to fitness could lead to work as a side-gig trainer. Expertise gained from personal passions, like real estate, travel, or art, can be monetized as a landlord, travel writer, or course creator. If starting a new business is too much, utilize gig platforms like Upwork or Fiverr, or specialty sites like Rover or Care.
3. Consider Relocation to Supercharge Your Savings
If you currently reside in a high-cost-of-living area, moving to a more affordable location can dramatically stretch your savings. This geographic shift is one of the most powerful Career Moves For Older Professionals looking for immediate financial relief.
Target Work From Home Jobs
Use job sites like LinkedIn and Indeed to filter specifically for fully remote opportunities. Specialty platforms like FlexJobs can also help you find location-independent roles. Be sure to tailor your resume and cover letter to highlight your independence and experience working remotely, assuring employers you will be productive from day one.
Identify Smart Relocation Targets
Even if moving isn’t your first choice, considering a different geography is a useful creativity challenge. Look into the least expensive countries for expats to stretch your comfort zone internationally. Domestically, some states even offer financial bonuses to lure new residents—a worthwhile perk to consider when planning your next move.
Credit: Forbes.com
