Is a post-retirement job in your future? If you’re thinking that retirement might not be for you because you’re not the kind of person who can sit around doing nothing all day, then it’s time to look at retirement differently.
Retirement is a time to enjoy your second act, try things you haven’t had time to do before, and even try a new job. A post-retirement job is beneficial for many reasons, but here are a few that might help you think of retirement differently.
1. It Will Help You Live More Comfortably
Most people are living into their 80s and beyond these days, but many retire at 65 or 70. You could be living off of your retirement savings for 15 to 20 years or more. According to an article on AARP, “Unless you know you’re in frail health, however, it’s probably best to plan to live 25 years after retirement — to age 90.” That means you’ll need more retirement money and plenty of hobbies to keep you busy. A post-retirement job can solve both of those problems.
2. It Can Help You Save
With a little extra income coming your way every month that supplements social security and/or a pension fund, you’ll have some extra money to continue building your retirement savings. And that money you put into a savings or investment account will earn interest that will also benefit you.
3. It Can Increase Your Social Security Payment
Social security benefits are based on your top 35 earning years. If you continue to work before collecting social security, it can increase the amount you’ll receive each month when you start collecting. Remember that once you start collecting social security, your monthly benefit will not continue to increase based on your work. Check your social security account to determine your monthly payment based on the age you retire and start collecting.
4. It Can Help You Improve Your Medical Benefits
While you can start receiving Medicare at 65, Medicare won’t cover all of your health insurance needs. You’ll also need to purchase Medicare Part A and Part B plans which you will need to pay out-of-pocket. A post-retirement job can not only offer you a way to pay for those plans without touching your savings. Some employers will provide these supplemental plans for employees.
5. It Can Help You Create a Less Stressful Life
While work can be a source of stress, a post-retirement job allows you to do something you enjoy doing without the worry of a “career.” You can choose to do something you love instead of something you have to do. Love playing golf? Become a golf instructor or work in a pro shop. Love animals? Work for a shelter or veterinary office. Teach a class, become a barista, or work at a store you love to shop in. The options are endless. You’ll be able to have fun working and experience less stress and depression from not having anything to do.
There are a number of benefits to a post-retirement job. Find a job that suits you, one you’ll enjoy, and one that takes some of the pressure off of living only on your savings.
I Am Here To Help
Regardless of why you feel you need to look for a new job, I am here to help. If you find yourself in a situation where you need career advice or interview support and want to talk about planning for your future, reach out to me, Rachel Schneider at Career Find, for a free Intro Call. I would love to speak with you to determine if I can help you accomplish your goals.