Friday, October 31, 2008

Working for Perks

It's Not the Pay, It's the Perks Robert Strauss in The New York Times writes about part-time jobs for retirees where the perk may exceed the pay. For example, one retiree took a job as a starter at a country club, which allows him to play golf for free. Thus he saves the "five figure" annual fee. Another retiree, who also worked as a starter for a country club, claimed he saved thousands in greens fees each month.

The country club part time jobs were great examples of how perks can be much greater than the pay. Another example was working for an airline and getting free standby flights. In my experience, the perks from other businesses are not quite as lucrative. Typically, the perks are discounts, e.g. purchase when working at retail stores, free viewing of an event, e.g. a play when ushering, or a free product or service of nominal cost, e.g. meal at a restaurant. I don't know of many perks that yield over $10,000 of value, as do the golf or airline part-time jobs.

At this time, it doesn't look like a part-time job at a country club or airline is likely for me. However, the concept of high value perks is appealing and I am collaborating with another early retiree to identify if there are other potential opportunities.

For more on Reaping the Rewards Reflections, check back every Friday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2008 Achievement Catalyst, LLC

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