Continue Working

The younger your retirement, the more likely you will consider some type of employment. If you retire at 55, you will need significantly more money than if you retired at 65. You may have more expenses such as making payments on a mortgage or supporting children still living at home, or helping parents who need emotional and monetary support.

If you plan well, you can make ongoing work a preference rather than a necessity. If you choose to work during retirement, you might be interested to know you’re in good company. The trend toward early retirement has come to an abrupt end according to the National Council for the Aging, citing a new report from the Employee Benefit Research Institute (EBRI). Many Americans are leaving the workforce gradually, moving from full-time work to “bridge jobs” before withdrawing fully from the workforce. The EBRI study found that one-third to one-half of older full-time workers hold a part-time job or short-term job before retiring completely. The continued desire to work appears to reflect people’s preference to stay active and to maintain a vital social network and an income stream at the same time.

It has also become more commonplace today for a person to retire on a Friday and return to work on Monday as a consultant, commanding good fees and working on a more flexible schedule. It seems that companies are finally beginning to realize that despite many initials after their names and high academic accomplishments, young up-and-comers aren’t always ready with all the answers.