Retirement used to mean leaving the workforce permanently. Nowadays, many retirees get jobs. Going back to work can put more money in your pocket and keep you engaged with other people. In certain situations, however, it may not actually help you financially. Find out if getting a job after retirement is the right choice for you.
Before taking on a job, consider the associated expenses like transportation and work clothing. If you’re caring for another person, you’ll also need to hire help for the time you’re away. Compare these costs to your expected earnings. Will you make enough money to offset the expenses? If so, going back to work may be worth it.
Your age determines whether your earnings will affect your Social Security benefits. Currently, people at full retirement age can earn as much as they want without losing any Social Security benefits. This isn’t true for retirees below full retirement age, though. Their benefit payments decrease when they earn a certain amount of money. To learn exactly how these rules apply to you, talk to a Social Security representative.
Where do you start looking for work? If you enjoyed your last job, try contacting your former employer. The company may have an open position or be willing to hire you for a part-time or casual position.
Have you always wanted to own a business? Put your specialized skills to use. Open a retail shop, work as a freelance tax preparer, take on handyman jobs, or start selling your crafts online. Also, there are always organizations looking for volunteers; volunteering is a great choice if you just want to keep busy and give back to the community.
These are a few ideas to keep in mind as you decide how to spend your retirement. To get more ideas, visit Super Senior Connection, an online community where you can chat with like-minded seniors.
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