Wiser Worker Blog

Social Security insures families against the loss of income caused by retirement, disability, or death, with nearly universal coverage; Social Security insurance covers 94 percent of workers in paid employment and self-employment. The program has been a success; however, Social Security has a long-term solvency challenge.

Social Security insurance protects all age groups.

Social Security provides a retirement benefit that is guaranteed for life and is adjusted to keep pace with inflation.

Social Security benefits are adequately funded for another 32 years.

Social Security is the principal source of family income for nearly half of older Americans.

Social Security keeps older Americans out of poverty.

Social Security provides critical income support to minorities.

Social Security is crucial for women.

Social Security is the foundation of workers’ retirement security, but it was never intended to be the only source.

Source AARP.org

Over the last few weeks we have talked about how Baby Boomers have changed retirement and because of this there are more “older workers” in the workforce. I thought if might be fun and maybe useful to take a look at jobs that are perfect fit for the older job seeker! If there is career field you would like to know more about send me an email, and I will do my best to give you all the information I know and any information I can FIND.

Did you know that over 65% of truck drivers today are over the age of 50?

I didn’t, this caused me to take a deeper look into truck driving and who is hiring and why? Then finally what you the job seeker would get out of a career in truck driving.  I would venture that truck driving companies have turned their recruitment efforts to focus on the older worker because they have taken a look at the candidates and know they are the best for the job.  Mostly because what they bring to an employer: their work ethic and their loyalty to the job is unmatched.

What I found was pretty interesting, read on and maybe it will spark your interest.  

When thinking about truck driving Schneider National was the first company that came to mind, mostly because I have worked with them in the past and I know they make an effort to recruit older workers. Last year 15% of their recruits were older workers.  I was lucky enough to find a video about a couple who work for Schneider Trucking; it does a great job telling their story. I learned they started their second career truck driving as a way to supplement their retirement, keep insurance, see the country and finally reconnect with their family and each other. They found that truck driving provided and way to achieved all these things.

They have traveled over 200,000 miles in their first year of trucking driving and have seen their family many times in their travels.  Think about it: Many retirees purchase a RV and travel the country seeing family, this couple outfitted their truck be very much like an RV and are getting paid to be retired, drive see the country the only difference is they are also carrying cargo with them and getting PAID.  Talk about the best of both worlds!   

 Does this sound like something that might be of interest to you?  Well if it does check out WiserWorker.com or our sister website Careersingears.com dedicated solely to transportation jobs.  I also learned that over 65% of the CareersinGears.com visitors are over the age of 50. Many people are already driving in retirement! Our websites have many resources you might find useful when researching if a career in truck driving is right to you.   

Wouldn’t it be great if you could determine what kind of social security benefits that you were going to get when you retired? Well if you said yes, you wouldn’t be alone. So the Social Security Administration now has a Retirement Estimator.  Now the SSA does give a disclaimer that the numbers you get will just be estimates because social security benefits change often, inflation and some other variables that may change what you actually do receive.  But still, it’s nice to have an idea. 

You can use the Retirement Estimator if:  

• You are not currently receiving benefits on your own Social Security record;
• You have enough Social Security credits at this time to qualify for benefits and
• You are not eligible for a Pension Based on Work Not Covered By Social Security.

Eileen Ambrose at the Baltimore Sun wrote up a column about this estimator tool.  She gives a preview on what kind of information you have to give:

You will need to plug in your Social Security number and mother’s maiden name. The agency says the site is secure. And when you print out your information, it won’t include these identifying details.

The calculator will ask when you plan to stop working and your average future earnings. It combines these with your earnings history so far.

With the click of the mouse, you can see what your monthly benefit will likely be at 62 - the earliest year to receive benefits - and at other ages. You can, for instance, calculate the difference in benefits by working one more year, something the annual paper estimates don’t tell you. In my case, retiring at 63 instead of 62 would mean an extra $100 a month.

Read: New tool for those debating retiring, Baltimore Sun

Pretty useful tool, I think.  So definitely worth a try and helpful for financial planning. 

Photo by paul goyette