Should You Plan on Working Past Retirement?

Working past retirement may sound contradictory. I mean, it isn't really retirement if you have to work, is it? There are actually some pretty solid reasons to work during your retirement years– at least on a part-time basis.

On one hand, you may simply enjoy your work. But on the other hand, you might have to work.

Why you might need to continue working past retirement

Retirement isn't a magical time when all the cares of life disappear. The unexpected can happen any time in life. There is no shortage of reasons why we may have to work past retirement age. Consider these.

1. Statistics and surveys are indicating that most people don't have enough money saved up to retire. And the future of Social Security is highly uncertain, but we can be pretty sure that benefits will be less than what they are now.

2. A job loss may force you to make early withdrawals from your retirement savings. If you have to tap your saving for an unexpected reason, then obviously you'll have less to sustain you down the road.

3. The financial markets don't always cooperate with our long term plans. There may be a stock market crash just before or during retirement. If your finances are tight, this could derail your retirement.

Types of post-retirement careers

Planning some sort of post-retirement career is one way to develop a back up plan in case any of the above become a negative factor in your overall retirement plans.

You might consider a few of these ideas for self-employment: 1. Start a blog 2. Write e-books 3. Become a virtual assistant 4. start tutoring 5. Become a housesitter

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