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 32 percent by 2022, up from just 20 percent in 2002.1 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. AARP.org, February/March 2015

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills. Staying engaged in work helps build "mental muscle," which can lessen the risk of developing dementia and Alzheimers2 and ward off the signs of aging.


2. Forbes, 2017

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, your benefits can increase by an average of 8 percent annually.3 Finding a strategy that works for you can truly pay off.


3. Social Security Administration, 2017

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 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. Association for Psychological Science, 2017

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 32 percent by 2022, up from just 20 percent in 2002.1 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. AARP.org, February/March 2015

Mental Benefits

Working during retirement helps maintain mental agility as you learn new skills. Staying engaged in work helps build "mental muscle," which can lessen the risk of developing dementia and Alzheimers2 and ward off the signs of aging.


2. Forbes, 2017

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, your benefits can increase by an average of 8 percent annually.3 Finding a strategy that works for you can truly pay off.


3. Social Security Administration, 2017

Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 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. Association for Psychological Science, 2017

Share |
 

Related Content

Perception vs. Reality

Perception vs. Reality

There’s an alarming difference between perception and reality for current and future retirees.

Is a Variable Annuity Right for Me?

Is a Variable Annuity Right for Me?

Pundits go on and on about how “terrible” or “wonderful” annuities are, but they never talk about whether annuities are right

Investment Strategies for Retirement

Investment Strategies for Retirement

Investment tools and strategies that can enable you to pursue your retirement goals.

 

Have A Question About This Topic?







Thank you! Oops!

The Cost of Procrastination

Don't let procrastination keep you from pursuing your financial dreams and goals.

Social Security: The $64,000 Question

One of the most common questions people ask about Social Security is when they should start taking benefits.

Does Your Portfolio Fit Your Retirement Lifestyle?

Lifestyle considerations in creating your retirement portfolio.

View all articles

Self-Employed Retirement Plans

Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP.

Annuity Comparison

This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.

Estimate Your RMD

Help determine the required minimum distribution from an IRA or other qualified retirement plan.

View all calculators

An Inside Look at Retirement Living

A number of questions and concerns need to be addressed to help you better prepare for retirement living.

Investment Strategies for Retirement

Investment tools and strategies that can enable you to pursue your retirement goals.

Retirement Plan Distributions

There are a number of ways to withdraw money from a qualified retirement plan.

View all presentations

Retirement Redefined

Around the country, attitudes about retirement are shifting.

Women and Retirement

Women must be ready to spend, on average, more years in retirement than men.

The Power of Tax-Deferred Growth

Why are 401(k) plans, annuities, and IRAs so popular?

View all videos