Working retirees are taking the economy by storm.
In fact, 54.7% of those between the ages of 60 to 64, and 31.2% between 65 to 69 years old, worked at least part time in 2017.*
Choosing to work again after leaving the mundane nine to five does have its benefits. Here are some possible incentives to working after retirement.
You can stay physically fit and mentally healthy.
You now have the opportunity to balance work life with enjoyable activities. Working can keep you socially active, preventing loneliness and isolation. It's a great way to stay engaged and busy, which can lead to better health overall.
You can work part-time instead of full time.
As a retiree, you now have the opportunity to work a part-time job that offers more flexibility and free time. You can also choose what line of work you want to try, and it doesn't necessarily need to come with a large income. Consider getting a part-time job at your local library or supermarket!
You can earn additional income.
Retirement doesn't always unfold as planned, especially when it comes to your income. If your retirement savings is not where you want it to be, going back to work can help bring stability to your finances.
You can have a second career.
Encore careers are growing in popularity with seniors. It can give you a chance to use your life experiences, skills and network to take on a new professional challenge or start a small business. In fact, studies show that if you are 55 or older, you are twice as likely to succeed as an entrepreneur than those who are under the age of 35!
*According to the Bureau of Labor Statistics
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