What will you do when you retire?

People are living longer, more active lives. Will you choose a slow, steady decline into senility or will you make a valuable contribution to family and society?

To be comfortable in retirement you need an income equal to 70% of your pre-retirement earnings. The US government provides an on-line retirement planner covering:

Go to http://www.ssa.gov/retire2/

To find out what benefits apply in other countries enter "social security" at http://www.google.com

Working part-time after retirement can supplement your retirement benefits and provide new opportunities for meaningful social interaction and intellectual stimulation.

If you do not need additional income, voluntary work is plentiful and a valuable and integral part of maintaining our community.

Supporting people in need, protecting the environment, preserving history, and advocating human rights are just some of the causes requiring skilled and unskilled workers to ensure the continued viability of not-for-profit and charitable organizations.

Check with your local and state government authorities for charitable and not-for-profit organizations operating in your local area.

Choose one that aligns with your values and volunteer your time and skills. The intrinsic rewards you receive will be limitless.

To supplement your retirement income there are a variety of options:

1. Minimum wage in the service industry. The least attractive of options, these jobs are none-the-less a means to meet the day-to-day bills if your income is very low.

2. Working in the industry you retired from. As the population ages, business is developing a new respect for older workers. Flexibility of working hours and part-time work are now being offered by many companies to attract and retain older workers.

3. Consulting to industry. Your many years of valuable experience and ability to complete short term projects without supervision is a marketable commodity.

4. Mentoring and coaching. Many young people starting out in their careers recognize the value of having a mentor. Your experience can assist them in avoiding common pitfalls and accelerating their career.

5. Franchising in the home services sector. Franchisers provide the business model and support for you to commence your own successful part-time business. With many more people working full-time the demand for household services is growing. Garden and household maintenance, ironing and even dog washing are common in this growth area.

6. Produce income from your hobby. Do you paint, draw or make handicrafts? There is a market for original designs and creations. Do you grow fresh fruit or vegetables? Environmental awareness has resulted in a niche market for local, organic produce.

Traditional jobs with shorter hours can be found through traditional channels. Recruitment agencies and employment classifieds in the media and online contain current available vacancies. Business and financial media will contain information on companies targeting older workers. Some recruitment agencies are beginning to specialize in placing older workers.

Both consulting and mentoring opportunities are most often realized through networks. Use your contacts developed over your years in the workforce to get the word out regarding your availability. Attend business and industry functions, join committees. The wider your networks, the more opportunities will present themselves.

Available franchises are advertised online and in franchise industry magazines. As franchising requires an initial investment make sure you have the prospect vetted by both your financial adviser and legal representative.

There are a number of outlets for your creations or produce. Stalls at local markets can be purchased cheaply. Ads in local papers or product specific magazines will target your market and can work well. The Internet is a great place to take your goods to a much wider market at relatively low cost.

Whatever your choice take care to avoid unscrupulous operators.

If you are asked to make payment for recruitment services, walk away. Reputable recruiters obtain their payment from employers, not prospective employees.

Some advertised home-based business opportunities are not real. The advertisers make money by selling you an idea. Unlike legitimate franchises, no business support model or client list is provided. Do not part with any money until you have obtained professional advice.

Remember the old adage: If it sounds too good to be true, it probably is.

Compared to youth and middle age retirement gives us more freedom to direct our energy to people and activities we care about. Part-time work can be a rewarding and fulfilling part of the experience of life in the third age. Start planning yours today.