The trend of working part-time in retirement keeps growing, partly because digital and remote work has made it easy for U.S. seniors to log in and make a buck. But it’s not only about technology and geography. More retirees than ever say they need the extra cash in their golden years.
According to the Pew Research Center, 19% of Americans aged 65 and older held some kind of paying gig in retirement in 2023. That’s nearly double the amount in 1987, Pew reports. Their earning power has grown, too: Senior workers earned an average of $22 an hour in 2022, against $13 an hour in 1987.
And research from Northwestern Mutual reveals that around 60% of future retirees expect to need a monthly income that's the same or more as their current monthly income to retire comfortably. That’s mainly because they have insufficient retirement savings, the study notes.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
But retirement and finance experts say these trends are positive ones for retirees, and for multiple reasons.
“Working in retirement can be hugely beneficial, both financially and psychologically,” says Ilir Salihi, founder and senior editor at Income Insider. “Many retirees, like my parents, find that complete leisure gets to be too boring after the initial honeymoon period, and part-time work or volunteering provides structure, social interaction and intellectual stimulation.”
From a financial point of view, even modest income around the minimum wage can significantly extend retirement savings' longevity. “That could delay the need for larger portfolio withdrawals during downturns,” Salihi notes.
Getting ready to work in retirement
U.S. seniors looking to get back into the working world should first take a reality check and then develop a strategy that makes sense for them.
“Before a retiree can decide to work or not after leaving their day job, they have to figure out what they want from the bigger picture,” says Mary Lee Gannon, a Pittsburgh, Pennsylvania-based executive coach who specializes in working with older career professionals. “That takes planning — and not just financial — as seniors reorient themselves to a new way of spending their time.”
If supplementing your retirement income is your highest priority, you should consider the roles that can generate the best pay. In general, the highest-paying side gigs for retirees are those that leverage your professional background, such as serving as a board member or corporate director, or being an instructor or guest speaker/lecturer.
Jordan Mangaliman, owner and adviser at Goldline Wealth Management in Fullerton, California, says: “Any of the above would be a great way to earn extra income while monetizing… expertise.”
There’s one caveat, and it’s a big one. Mangaliman points out that there are tax considerations for retirees working part-time, particularly regarding Social Security.
For retirees who have not yet reached full retirement age, and whose income is more than $23,400, $1 is withheld for every $2 earned, he warns, adding: "Your part-time income also counts towards provisional income, which may make more of your Social Security taxable.”
While full retirement age depends on the year you were born, it's 67 for everyone born after 1960.
The seven top-paying gigs for U.S. retirees
With those important considerations in mind, the next phase of planning is deciding which role would best suit your talents and experience. Here are seven high-paying roles, in order of highest to lowest hourly income:
1. Business and executive coaching
Pay range: $100-$200 an hour.
Retirees with specific corporate experience in talent acquisition and management, or in human resources management, can set themselves up as executive coaches.
“The best-paying side-gigs are professional service-related because there’s no overhead and you’re likely already an expert in a popular career field." Gannon says. “You can coach in your area of expertise and be in demand because most organizations don't have someone on staff with your niche knowledge. You can also be a trainer in corporate America in a specific area of expertise.”
Retirees can also create an online platform for coaching where individuals subscribe to content or pay for your services on a monthly or quarterly basis.
Gannon is living proof of how this can work. An ex-CEO, at age 64, she’s now an executive coach for people in their 50s and 60s, many of them in retirement. “I do this as a side gig,” she says.
2. Data recovery services/IT consulting
Pay range: $30-$40 per hour on the low end, $100-$200 an hour for higher-level gigs.
Chongwei Chen, president and CEO at DataNumen, Inc., a data recovery technologies company in Sheridan, Wyoming, said he’s seeing a big demand for freelance data recovery services.
“I've seen retirees with technical skills successfully offer data recovery services to local businesses and individuals for up to $200 an hour,” Chen says. “We’re also seeing a big demand for technology consulting, which could appeal to retired IT professionals who can offer specialized consulting in data recovery, cybersecurity or system optimization. Many small businesses desperately need this expertise and will pay up to $150 per hour to get it.”
3. Other professional consulting
Pay range: $100+ an hour.
Consulting can be extremely profitable for experienced professionals in retirement.
“My dad was a tax attorney and during tax season could easily pull in $10,000 to $20,000 for seasonal work during retirement,” Salihi says. "I know of a retired real estate agent who still gets $150 per showing if they want to take on a one-off listing."
4. Freelance writing
Pay range: $22 to $74 an hour, depending on experience and subject matter.
While artificial intelligence is an emerging threat to professional writers, businesses, professional organizations and the media still value human-generated content.
Jeremy Merchant is co-owner at Mad Mango Marketing, an SEO agency in St. Petersburg, Florida, that relies heavily on blogs written by experts. Merchant says his best writers are often retirees looking to make good money, simply recapping their knowledge from decades of specific industry experience.
“Seniors looking to find this type of work should try reaching out to SEO agencies online or on freelance writing job sites, in particular, to find a need for quality writing with decent pay per hour,” Merchant advises.
5. Bookkeeping/Financial services
Pay range: $25-$50 an hour.
AI is chewing into back-office functions, too, but companies still need humans with an understanding of business finances to pitch in as bookkeepers or financial data management specialists. “These financial professionals are always in demand, especially for small businesses,” Chen says.
6. Online selling
Pay range: $25-$50 an hour.
Sales jobs will prioritize the ‘hustle’ side of ‘side hustle,’ but if you have a particular set of sales skills or in-depth knowledge of a product, working part-time in retirement as an online seller can generate a decent amount of cash.
E-commerce is projected to be a $7.4 trillion industry in 2025, and established platforms, such as Amazon, eBay and Etsy, offer a good entry point if you're keen on selling handmade arts and crafts or wholesale merchandise.
If you know how to work with trusted suppliers and can build a robust brand, online selling could enable you to add a decent amount to your household budget in retirement, without leaving your home.
7. Teaching and tutoring
Pay range: $26 an hour.
Teaching and tutoring are among the best gigs for retirees. Many younger workers can't take teaching jobs that conflict with their 9-5 hours, or because they're busy with their young children in the evening and at weekends.
“Retirees tend to have grown children and plenty of time to set their own schedule,” says Ian Gardner, director of sales and business development at Sigma Tax Pro in Delray Beach, Florida.
“Parents trust the wisdom that comes with age, and if you're an educational expert on any subject, you can likely find an opportunity to teach it, whether in-person or online.” The average salary for a tutor is $26 an hour, according to Indeed.
If you’re a retiree with no teaching expertise, however, a good option could be teaching English as a second language (ESL) online. “While the rates are lower than high-end teaching gigs, they're well above minimum wage, and teachers can make more money the longer they work, particularly if they find their own clients and teach specific types of ESL, like business English,” Gardner says.
The best-laid plans lead to the best-paid gigs
Once you've identified your motivation for going back to work in retirement — and what compensation you need to make it all worthwhile — then comes the process of actually finding work. And it's not much different than when you looked for work during your career.
“To find the best-paying retirement side gigs, leverage your professional network,” Salihi advises. “Former colleagues often need temporary help or at least know of other opportunities, and LinkedIn remains invaluable for keeping in touch with old colleagues and employers who could point you in the right direction.”
If those options don't work, consider local Facebook groups. “Those tend to have higher success rates for gig work than national job platforms,” he adds.
Retirees should highlight particular workplace expertise and availability.
“That includes updating your LinkedIn profile to reflect that you are currently available for work, especially professional work like consulting, and to leverage referrals from people you already know who can open doors for you,” Mangaliman says.
Excellent places to search for jobs are local chambers of commerce, professional associations, FlexJobs, Retired Brains, Workforce 50 and the AARP Job Board, he adds.
Even more importantly, remember that, as a seasoned professional, you bring a lot to the table — and smart companies know that.
“Companies worldwide are calling on retirees to take on work on a project-by-project basis,” says Dan Zautis, a director at global talent firm Korn Ferry. “It's the strengths retirees provide that are in demand, from their meaningful career experiences and leadership skills, to their flexibility in the workplace.”
Companies also appreciate that most retirees don’t want to work full-time and, along with the passion that they bring to the business, "that's a plus," he says.
Related content
-
Time Is Running Out to Make the Best Tax Moves for 2025Don't wait until January — investors, including those with a high net worth, can snag big tax savings for 2025 (and 2026) with these strategies.
-
4 Smart Ways Retirees Can Give More to CharityFor retirees, tax efficiency and charitable giving should go hand in hand. After all, why not maximize your gifts and minimize the amount that goes to the IRS?
-
If You Do One Boring Task Before Year-End, Make It This OneWho wants to check insurance policies when there's fun to be had? Still, making sure everything is up to date (coverage and deductibles) can save you a ton.
-
Time Is Running Out to Make the Best Moves to Save on Your 2025 Taxes
Don't wait until January — investors, including those with a high net worth, can snag big tax savings for 2025 (and 2026) with these strategies.
-
4 Smart Ways Retirees Can Give More to Charity, From a Financial Adviser
For retirees, tax efficiency and charitable giving should go hand in hand. After all, why not maximize your gifts and minimize the amount that goes to the IRS?
-
I'm an Insurance Pro: If You Do One Boring Task Before the End of the Year, Make It This One (It Could Save You Thousands)
Who wants to check insurance policies when there's fun to be had? Still, making sure everything is up to date (coverage and deductibles) can save you a ton.
-
Should You Tap Your Home Equity Before 2026?As borrowing rates and tax law shifts converge, here's what homeowners need to know before pulling equity out of their home.
-
My Adult Child Was Laid Off. Can We Discuss It Without Ruining the Holidays?We asked mental health and financial experts for advice.
-
3 Year-End Tax Strategies for Retirees With $2 Million to $10 MillionTo avoid the OBBB messing up your whole tax strategy, get your Roth conversions and charitable bunching done by year's end.
-
'Politics' Is a Dirty Word for Some Financial Advisers: 3 Reasons This Financial Planner Vehemently DisagreesYour financial plan should be aligned with your values and your politics. If your adviser refuses to talk about them, it's time to go elsewhere.
-
For a Move Abroad, Choosing a Fiduciary Financial Planner Who Sees Both Sides of the Border Is CriticalWorking with a cross-border financial planner is essential to integrate tax, estate and visa considerations and avoid costly, unexpected liabilities.
