Working in Retirement

Working in Retirement

Many people choose to work in retirement for both financial and non-financial reasons. The obvious advantage of working during retirement is that you'll be earning money and relying less on your retirement savings—leaving more to potentially grow for the future, and helping your savings last longer. But many retirees also work for personal fulfillment—to stay mentally and physically active, to enjoy the benefits of working, or to try their hand at something new. 

If you are thinking of working during your retirement, you'll want to make sure that you understand how your continued employment will affect other aspects of your retirement. For example:

  • If you continue to work, will you have access to affordable health care through your employer? If so, this could be an incredibly valuable benefit.
  • Will working in retirement allow you to delay receiving Social Security retirement benefits? If so, your annual benefit when you begin receiving benefits may be higher.
  • If you'll be receiving Social Security benefits while working, do you know how your work income will affect the amount of benefits that you can receive? Additional earnings can increase your benefits in future years.