Second Career after Retirement - Part 1 of 2

If you’re getting ready to retire and plannning a second career, the following tips will help you.

• "Avoid using an old-looking resume", says Deborah Russell of AARP, "by using language that shows you’re flexible, eager to learn, have new ideas and can work in a team environment."
• Understand tax laws that govern your IRA or qualified retirement plan distributions.
• You may want to review your estate plan to find strategies for reducing taxes as extra income may subject you to a higher tax rate.
• Life insurance and long-term care insurance may help protect your income flow once you start working.
• If you’re planning to retire early, make sure you have enough money to maintain your lifestyle. This includes financing any education you need for your second career, capitol to start a new business and activities you want to pursue.

Source: King, E. (1999, March/April). Tips for planning a second career in retirement. The Correspondent, 97, 14.

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