When retirement is not an option - Hustler Daily Thumbs Up - August 12

Hello fellow Encore Hustlers

For some people, their years of planning, hard work, and saving can unravel with one life changing event.  Read this story about Janet Beebe who at 70, continues to be the chief executive officer of a non-profit based in the Atlanta, Georgia area.

Her original plan of retiring at 65 with her husband, was derailed when he was diagnosed with Parkinson's at age 58.  Eventually his condition progressed to the point that required him to be placed in a full time care facility that costs almost $6,000 a month.

The care is not covered by Medicare, but fortunately their combined social security checks and savings are covering the cost for now.  Unfortunately for Janet, her retirement is not option.

But at least, for the moment, she is keeping the leaky ship afloat.

Cheers,
Mr. EH

The Hustle High Five - Hustler News of the Week - April 13

Hello EncoreHustlers.

As promised in my last post I am posting again this week to make up for missing last week.

Before I start with the High Five I would like to give you an update on a previous post on the Job Seeker app.

So far this year I have earned over $210 in Amazon cash using the app to take photos of Help Wanted signs on local businesses.  This has been a nice little micro side hustle but this week Indeed the job search engine that created the app has updated it.  For the better, the app now has a map that shows all the locations that you have snapped photos of in the last 90 days.  The map also shows which locations are eligible for resubmission, which is a handy tool for maximizing your time spent using the app.  On the downside of the update, it appears that the Verify feature of Job Spotter has been removed.  This feature allowed you to earn extra money by verifying the veracity of other users Help Wanted submissions.  If you have any experience using the updated Job Spotter app I would appreciate hearing your comments if the changes have been an improvement.

Now for the High Five.

1)   There are many reasons for making the decision to postpone retirement.  The one most often cited is economic, but read this story that makes the case of continuing to work being a factor can also contribute to continued happiness and a longer, healthier life.  Also read this article about a study from Germany that shows that a lower pension can reduce your lifespan by as much a five years.

2)   If you do make the commitment to work past 65 a common method is a phased retirement that allows you to work fewer hours.  However, as you can see in the article, not all companies will accommodate this plan.  Also you need to read this story about Medicare and working past 65, missing applications deadlines can be costly.  Many licensed professionals such as lawyers also have to consider at what point should they give up their license when they give up their practice.  Read this piece what might be worth considering when making in this decision.

3)   Has it always been your dream to pursue your artistic interests as a second career?  If so, then read these pieces of a retired Sioux City psychotherapist whose art work has been featured in over 40 shows and the former Massachusetts state attorney who has published the first of a planned series of YA (Young Adult) novels.

4)   Another encore career path can be starting a new business.  It is not uncommon for fledging entrepreneurs to launch their business in an incubator environment.  But often these incubators are not designed for encore careers.  However Israel recognized this and has launched an incubator for people 60+.  Read all about it in this piece from NextAvenue.

5)   I would like to end with a sweet story of two sisters who retired with a cool encore career of opening a frozen yogurt store in the Chicago suburb of Elgin.

Well, that wraps up this weeks High Five.

So until next week, enjoy your hustle.

Mr.  EH

The Hustle High Five - Hustler News of the Week - January 11

Hello EncoreHustlers.

It is only the second Hustle High Five post and I am already fudging the numbers.  It is has been such a good week for side hustle stories that I couldn't resist adding a few extra.

1)  Quartz has an interesting report on the benefits of continuing to work after what is typically considered retirement age in the story The Secret of a Secure Retirement is Not Retiring at All.

2)  The New York Times profiled Marc Freedman, the founder of Encore.org, an organization with the mission to "tap the skills and experience of people in midlife and beyond to improve communities".  Read Bringing Older Americans Back Into the Fold.

3)  Check out this story What to do after retirement, about a Senior Job Club being established in Garden City, Kansas to assist retirees who want to return to work.

4)  This is a good article, from the Longview (Texas) News-Journal, stressing the importance of meeting Medicare application deadlines as you approach 65, Working past 65? Here's what to know about Medicare.

5)  Here are two articles about government employees working side hustles while on furlough.  The first about a diplomat writing on-line product reviews and the second about two sisters starting a cheesecake business.

6)  Just to remind everyone that retirees seeking side hustles is not just an American phenomena here are two international stories, the first from Germany, and the second from Singapore.  The interesting aspect of these two stories is that other countries, especially those with strong economies, such as Germany and Singapore have pension systems that leave their elder citizens barely living above the poverty line.