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 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
  • Contributing your skills and experience to society
  • Maintaining or even growing your technical/job skills for current and future employers
  • Avoiding the feelings of boredom that can come from not having the sense of daily purpose that working can provide.

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 say otherwise (such as a decline in your health, 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!