MANILA, Philippines -- Working while retired has increasingly become an acceptable option for many Filipinos. Recent surveys have shown many of our countrymen are not financially ready to retire or do not have a clear retirement plan.

And even if their retirement plan is on track, it doesn’t mean sticking to just playing golf or going on cruises for the next decade or two.

Here are some options to consider when opting to work during retirement:

Stay the course. If you own your own business or have a professional practice, you can continue working as long as you like. If you particularly love what you do, there’s no point in stopping. You may reduce your work hours in deference to your health, but there is no reason why you should stop working altogether.

If you’re employed, mandatory retirement will require you to quit your job. If you’re a C-level executive, you could accept an offer to join the board of directors. If you’re a regular employee, you could ask your employer for a part-time job, preferably one with a more flexible schedule. Certainly, you bring decades of experience that’s not easily replaceable.

Switch to a new career. Some employees are able to get retirement pay after serving, say, some 10 continuous years in one company. One option is to do something totally different.

It could be the same job but in a different industry, say an HR job from a bank to a call center. Or it could be a different job with the same skill set, e.g., from being a project manager to being a TV producer.

If you’ve hated your old job before retirement, you could take on something that you’ve wanted to do all your life, like switching from being a dentist to a yoga teacher.

Start your own business. This is a popular “answer” for many who are asked what they plan to do after retiring from their jobs. Some buy a franchise and others start from scratch. This is a good route if you really think you can succeed as an entrepreneur.

It’s best if you put up a business related to what you have been doing. If you’re an advertising executive, you could put up your own agency. If you’re a top-notch programmer, you could set up your own software development company.

However, you might end up frustrated since running a start-up business on your own is entirely different from running a department – or even someone else’s company. So before you plunge into this, do your business plan very carefully. Maybe, you’re not really meant for business.

Consult for others. Another logical and popular next-stage career move for retirees is to go into consulting, either for your previous employer or as an independent consultant. It’s similar to starting a related business except you help other companies and organizations with their problems, not create your own by putting up a company.

There’s a lot of flexibility with consulting and it might even pay more than what you used to make as an employee.

Teach others. If you’re already set for life when you retire, perhaps you don’t need the headache of running a business or starting a consulting practice. If you want to give back to your community by helping other people and sharing what you know, consider teaching part- or full-time.

The younger generation could greatly benefit from your real-world expertise. The stress level isn’t high, even if the pay wouldn’t as great. But then again, it shouldn’t matter if money isn’t a factor.

Transform a hobby. Often, we have dream jobs we never seriously pursued because they just wouldn’t pay the bills. Perhaps you love scuba diving. Or the samba. Or tinkering with cars. Whatever passion you’ve relegated as a hobbies or pastime while grinding at your previous daily job, now is the time to go for it -- and earn in the process. You may not receive big bucks, but with a financial cushion, who cares?

Travel while earning. You read that right. Traveling is often an integral part of enjoying retirement. But why not make a little money while at it? Being a travel writer or photographer is an excellent way of seeing the world -- and getting paid (or at least having all your travel expenses paid).

If you don’t have writing or photography skills, there are other things you could do. Try being a tour guide if you’re amiable and interested in cultures. You can even join a cruise ship as an entertainer, nanny, or program host.

Volunteer. A retirement career need not always involve pecuniary compensation. You can devote the rest of your life supporting and volunteering for causes you believe in. Certainly, your experience in the private sector will go a long way in fund raising or promotional events. Non-profit organizations also pay full-time staff and consultants, so you may opt to do this on a full-time basis.

(This article is from MoneySense, the country’s first and only personal finance magazine. Visit www.moneysense.com.ph for more.)