Advantages of Working Longer Before Retirement

There are many reasons to keep working during the retirement years, whether on a full-time or part-time basis:

  • Fewer years of retirement left to finance
  • More years in which to accumulate savings for retirement
  • More years in which to earn Social Security and/or pension benefits, and potentially larger benefits if you delay starting them
  • Staying eligible for health insurance benefits through an employer, which can provide coverage until you reach age 65 and become eligible for Medicare
  • Feeling younger
  • Contributing your skills and experience to society
  • Maintaining or even growing your technical/job skills for current and future employers
  • Avoiding feelings of boredom that can come from having a diminished sense of daily purpose

How long you choose to work in retirement is clearly your own personal decision. Just remember that even though you may want to work full- or part-time, circumstances may prevent it (such as a decline in your health, family caregiving responsibilities, or local jobs simply not being available due to a poor economy). But if you are able to stay employed during your retirement years, the benefits go well beyond extra income.