There are benefits to going back to work outside of just money.
For many people, retirement unfortunately ends up coming as a financial shock. A lot of folks expect their expenses to drop dramatically in retirement, but then they realize that’s not the case.
Furthermore, many people end up heavily reliant on Social Security to cover their living costs in retirement. And those without much savings often realize quickly that living largely on Social Security is not the best long-term arrangement.
It’s not so surprising, then, to learn that 44% of current retirees have plans to return to work or are considering a return to a job, according to data from Fidelity & Guaranty Life Insurance Company. And that’s a move you may want to consider, as well.
Benefits aside from money
For many retirees, the primary motivation to return to work is to collect a paycheck. And that’s understandable. But even if money isn’t particularly tight for you in retirement, you may want to consider working in some capacity due to the outside benefits involved.
A degree of structure
Some people thrive on structure. If you’re that type — and there’s absolutely nothing wrong with that — then returning to work might be a good thing for your general outlook and mental health.
It’s easy to lose track of your days when you don’t have somewhere to be on a regular basis. And you may find that that’s not a great way to live. A job could serve as a nice anchor, giving you something to do and filling up hours of your days you might otherwise struggle with.
A way to socialize
Some retirees are lucky enough to have a community of seniors who are available for things like tennis, card tournaments, and sharing meals. But if you don’t have a large social network, you may want to consider a return to work for the ability to have access to people.
Many retirees end up struggling with feelings of loneliness. But if you’re surrounded by co-workers a few days a week, that may not be an issue, even if you tend to spend most of your non-working hours by yourself.
A means of staying fit
When you don’t have a place you specifically need to be during the week, it’s easy enough to get into a routine of staying home, reading, watching TV, and generally not moving around much. But that sort of lifestyle could take a toll on your physical health.
The benefit of returning to work in some form is that you’ll have to get up, leave the house, and move on a regular basis. That could be your ticket to staying strong and potentially avoiding some of the health issues that tend to arise from having too sedentary a lifestyle.
For some people, the idea of retiring and then returning to work in any capacity is just not appealing. And if you’re someone with plenty of money who’s also able to stay nice and busy, that’s fine.
But if money has gotten tight and you’re struggling with feelings of boredom or isolation, it pays to contemplate a return to work. Doing so could be the thing that saves your retirement on different levels.
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