This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Second Careers for Baby Boomers

The generation that once declared it would never grow up is now refusing to conform to the stereotype of grandma and grandpa spending their retirement years in rocking chairs.

According to research from the AARP, 40% of baby boomers feel they will not have enough money to maintain their standard of living for retirement, and even if they do feel they will have sufficient funds for retirement, an AARP poll shows that 50% of boomers want to continue working or even start businesses.

It's more important than ever for boomers to plan for a second career that matches their skills and lifestyle. Jobs in animal care will be in high demand through 2018.

According to research conducted at Boston College for the Census Bureau, the average age for retirement is rising. Since the 1990s, the average retirement age for men has risen to 64 from 62 and to 62 from 60 for women. That is only expected to rise, as the AARP poll shows that the 50% of boomers who want to continue working plan on doing it well into their 70s and beyond.

Boomers don't want to just keep working, the studies reveal, they want to do something that promotes a life-long passion or that can make a difference in the world. We looked at some of the best options for boomers, along with the average expected starting salary for each.

Medical careers
According to the Bureau of Labor Statistics, many jobs in the medical field are in high demand and will continue to be through 2018. These jobs include aides in physical therapy, home health care and personal care aides. Aides can expect to earn around $20,000, and the job may require only a few weeks or months of schooling and on-the-job training.

For a more involved position, consider a job as a technician in a medical or veterinarian office. Both require an associate's degree and some on-the-job training. People entering these fields can expect to earn $30,000 and above. The dental field also needs trained assistants and hygienists, who can earn $32,000 to $68,000. An associate's degree is required for both.

Franchises
This particular career choice typically requires a wad of upfront cash to buy a franchise and get it running, but boomers with the entrepreneurial spirit can choose franchise ownership as opposed to building a business from the ground up thanks to the support they get from the corporate office, as well as having a brand with a proven track record.

Boomers can choose many different franchise options, from auto service companies to restaurants and lawn care services. Robin Lipton, a former speech pathologist in San Diego, recognized the need for in-home care services in her area and opened FirstLight Homecare this past July. According to the BLS, the average salary varies greatly depending on the type of business you choose, as well as the ultimate success of the franchise.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $130.54 0.20%
FB $80.29 1.39%
GOOG $533.99 0.35%
TSLA $249.45 -0.54%
YHOO $43.35 0.97%

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs