Insights

Should You Keep Working After Retirement?

By  Brian Thorp

To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Learn more. Wealthtender is not a client of these financial services providers.
➡️ Find a Local Advisor | 🎯 Find a Specialist Advisor

There are benefits to working after retirement, and not all about the money. Part-time jobs for retirees provide income and life fulfillment.

Retirement is the goal of many a worker. Those just starting out in the workforce often dream of the day they will get to kick back, relax and just do nothing.

That is the dream of retirement, but the reality is often quite different. Some retirees find themselves short of cash, and in the end, they are forced to work part-time in their later years. For others, however, it is not a lack of money but other factors that bring them back to work. Here are four non-financial reasons to keep working after retirement.

1. Retirement Could Last a Long Time

When the Social Security Act was first passed, the average life expectancy was just a year past the agreed-upon retirement age. Those demographic realities may have been good for the financial solvency of the program, but they were definitely not good news for the retirees themselves.

In the intervening decades, things have changed a lot, and these days the average retiree can expect to spend 20 years or more of their life in retirement after their career has ended. That means your own retirement could last a very long time, and that is a lot of time to fill with golf outings and puttering around the house. In the end, working part-time in retirement could be the perfect way to fill those idle hours, even if you don’t need the extra money.

2. Working Can Offer a Sense of Fulfillment

Whether they enjoyed their careers or hated their jobs, many retirees find themselves bored and lonely. They miss the sense of fulfillment and commitment working provided, and they find that again in part-time work.

Working is more than a financial transaction – it is also a form of social interaction. The social and societal aspects of employment do not change upon retirement, and that is why so many retirees choose to return.

3. It Will Help Alleviate a Critical Shortage of Younger Workers

If it seems like the population is getting older, it’s not your imagination. Around the country and across the globe, average ages are increasing as a result of longer life spans, advances in medical care, and a declining birth rate.

Given those demographic realities, future careers are likely to be longer, and older people in the workforce will probably become even more commonplace. By working part-time in retirement, you can earn an extra income, but you will also be helping to alleviate what could soon be a critical shortage of qualified workers.

4. Your Life Experience Could Make You a Valuable Mentor

You learned a lot during your working years, and now it’s time to pass on those lessons to the next generation. High school and college classes can only go so far, and there is no substitute for real-world experience.

By taking on a part-time job in retirement, you get a chance to mentor younger workers, either in an informal capacity or through a formal mentorship program. The lessons you impart could have a profound impact on the skill level and earning capacity of the next generation, and you will have a direct role in providing that better future.

The Bottom Line

Dreaming of retirement is a common part of the workday for many employees. Those workers imagine their post-work lives, and they cannot wait to end their careers and start enjoying their golden years.

In the end, however, the reality of retirement is often quite different. Even well-off retirees may find that they miss the jobs they thought they hated, choosing to return to employment albeit in a more limited capacity. Whether you’re already retired or just dreaming of the day when choosing to work is optional, there are very good reasons to pursue work after retirement, and not all of them are about the money.

Find Your Next Financial Advisor on Wealthtender

📍 Click on a pin in the map view below for a preview of financial advisors who can help you reach your money goals with a personalized plan. Or choose the grid view to search our directory of financial advisors with additional filtering options.

Showing

📍Double-click or pinch pins to view more.

About the Author
A headshot of Brian Thorp, the founder and CEO of Wealthtender

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender. He and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Learn more. Wealthtender is not a client of these financial services providers.
➡️ Find a Local Advisor | 🎯 Find a Specialist Advisor