In the UK, life expectancy has increased dramatically in the last century and, with it, our need to be financially active beyond the current retirement age. But what can we do when we find ourselves retired or redundant with a reduced income or a skinny pension?
Pension worries, the rising cost of care and longer, healthier lives means that working after 50 is becoming an accepted and necessary part of normal life. In fact, recent figures show that in the UK almost 20% of people say they will never be able to retire fully due to insufficient incomes and savings.
Author, thought leader and septuagenarian Tim Drake will be answering all your questions on how to have a second career in your 50s, 60s, 70s and beyond.
His practical new book, Generation Cherry, is published by Red Door and is available online and from all good booksellers.
Please add your questions for Tim to the thread by 12pm Friday 21 July.
DH and I would love to get part time jobs to keep us busy and earn some pocket money. The problem is that we live in a University town and the students get the jobs. The minimum wage is less for youngsters and employers see low cost before they see experience. Any tips?
I've moved to a new area, have no professional contacts and my professional accreditation has lapsed. I'd love to work, part time, but following my professional path is impossible. So, how do I - or anyone almost 70 - begin again when physicality precludes standing for long periods or largely physical work such as that available in the DIY sheds?
Hi Tim ... I really hope the book does well . I retired in the past year , have qualifications that could be used but have moved to a Market Town to escape from London and due to lack of contacts and knowhow I dont know how to start again after years of being employed by others. I would like to work part time to generate extra income and give me an interest out side the home.
Would be very interested in tips. Redundant at 60 and no s/pension for 6 yr. although qualified and get interviews, feedback is inevitably "over experienced" ie too old. Have been job hunting for 2 years now, but not willing to move house/zero hours contract so nothing doing. Really low wages too.
My husband and I have a 10 year age gap that didn't seem to matter all those years ago when we got together. We run our own (struggling) engineering business (employing 5 other people) and planned that he would work until he was 70 (daunting I know) until I was able to retire at 60 when we would both draw our state pensions. We knew that we would have to live a fairly frugal lifestyle but even this is looking impossible as goal posts have been changed dramatically now and it appears that I will be at least 67 before I can draw my pension. Fools that we are, we have ploughed everything we have into the business, downsized our home etc. and exhausted all other options. There is no way on this earth my husband could keep up this level of work until he is 77 years old but we have a mortgage and bills to pay.
I know I am probably asking the impossible but wonder if you can offer any advice whatsoever.
My husband has signed up with various agencies - is this the best way forward? Are there other ways of finding work, please? He has no qualifications, and has really enjoyed caretaking work and being a hospital porter