Retirement

5 Benefits of Working in Retirement

5 Benefits of Working in Retirement

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 33.2 percent by 2029, up from just 25.6 percent in 2009. As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits.1


1. BLS.gov, September 1, 2020

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills, which can help improve your thinking ability. People who pursue meaningful activities say they feel happier and healthier.2


2. NIH.gov, October 1, 2021

Physical Benefits

Staying active during retirement years is crucial for continued health. Whether you choose to work full time, or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.


Financial Benefits

Besides the obvious extra income, working during retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security past your full retirement age (up until age 70), your benefits can increase by 8 percent annually. Finding a strategy that works for you can truly pay off.3


3. SSA.gov, 2021

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life. Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your later years.4


4. TheHealthy.com, March 25, 2021

5 Benefits of Working in Retirement

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 33.2 percent by 2029, up from just 25.6 percent in 2009. As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits.1


1. BLS.gov, September 1, 2020

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills, which can help improve your thinking ability. People who pursue meaningful activities say they feel happier and healthier.2


2. NIH.gov, October 1, 2021

Physical Benefits

Staying active during retirement years is crucial for continued health. Whether you choose to work full time, or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.


Financial Benefits

Besides the obvious extra income, working during retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security past your full retirement age (up until age 70), your benefits can increase by 8 percent annually. Finding a strategy that works for you can truly pay off.3


3. SSA.gov, 2021

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life. Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your later years.4


4. TheHealthy.com, March 25, 2021

Share |
 

Related Content

Tax-Advantaged Retirement Planning

Tax-Advantaged Retirement Planning

Reduce your tax liability in retirement.

Four Steps to Valuing an Estate

Four Steps to Valuing an Estate

Determining the value of your estate, or for someone who has passed away, can be a complex undertaking.

Be My Beneficiary

Be My Beneficiary

Financial planning for couples.

 

Have A Question About This Topic?







Thank you! Oops!

Tax-Advantaged Retirement Planning

Reduce your tax liability in retirement.

Infographic: Risks at Retirement

Make a plan to take these risks off the table.

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.

View all articles

What Is My Risk Tolerance?

This questionnaire will help determine your tolerance for investment risk.

Historical Inflation

This calculator shows how inflation over the years has impacted purchasing power.

Tax Freedom Day

Assess how many days you'll work to pay your federal tax liability.

View all calculators

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

Managing Your Lifestyle

Using smart management to get more of what you want and free up assets to invest.

5 Smart Investing Strategies

There are some smart strategies that may help you pursue your investment objectives

View all presentations

The Fed and How It Got That Way

Here is a quick history of the Federal Reserve and an overview of what it does.

Investments

You’ve made investments your whole life. Work with us to help make the most of them.

The Cycle of Investing

Understanding the cycle of investing may help you avoid easy pitfalls.

View all videos