‘Take the jump!’ Man, 70, encourages retirees to ‘keep busy’ and bring in extra cash

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Working into retirement may not be right for everyone, however, it could be a great way to bring in some extra cash. The financial benefits are not the only good thing about this, and Britons could also gain in other ways. Express.co.uk spoke exclusively to Derek Myers, a 70-year-old man living in Cornwall, who set up his own consultancy and works through his retirement.

Mr Myers was primarily motivated by a desire to transition out of the full-time work he was used to, and into a part-time role working from home.

He explained: “I didn’t want to be going to the office – it was a three hour drive, and I wanted to work from home. 

“That was the main reason I became self-employed, simply because it works well for me.

“It keeps me busy, gives me something to do. It’s not every day of the week and it isn’t full on.

READ MORE: State pension age rise forces lower earners to work longer

“That’s the good thing with all of this. I could decide next year that I just want to pack it all in and go on holiday.

“If you’ve got that open-ended window, you can decide exactly what you want to do.

“Once the pandemic is over, things will get easier, and then people will be able to do some of the things they love again.

“A part of me thinks I won’t stop, but then I will get to the point where I’ll want to go on holiday and have that luxury.

“This is the same for a lot of people. Once you start with self-employment, you have a bit of extra cash. That might mean that instead of going on two holidays, you might say go on four instead.

“The flexibility to it is the positive thing.”

Some individuals may feel averse to self-employment due to the perceived financial instability of this method of work.

But according to Mr Myers, there can be benefits to working this way, especially as people age.

He added: “Many people who decide to go self-employed are worried about the first couple of months when they don’t have any income necessarily coming in.

“But if you have a pension, then you know you’re going to have something to fall back on. You might not have to budget as much and it could be easier for you to get into.

“People are frightened to take that big jump, especially if they don’t have something to fall back on.

“But there are loads of people out there who are self-employed, and earning a good living! If someone takes the jump, they could do it too.”

There have, however, been challenges to navigate in self-employment, especially during the pandemic.

In Mr Myers’ line of work – export sales – not being able to travel has been a difficult prospect to reckon with. However, he has remained optimistic about the future.

He concluded: “It has been a bit more difficult as a self-employed person recently, especially in my line of work with travelling.

“It’s all well and good with the Government removing restrictions, but once you get to the other end, countries have their own set of rules.

“For the last two years it’s been hard having to put up with the pandemic and looking after yourself, but keeping in contact with clients. But there are plenty of ways to talk to people, and we can get over certain logistical issues.

“When things open back up again, and they will eventually, it will be a lot easier.”



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