A perhaps surprising number of retirees end up going back to work, and it’s sometimes for reasons that has nothing to do with money. A U.S. News and World Report article, 8 Benefits of Unretiring in Wausau WI, provides some useful prospective.
Delay Withdrawals
While many people unretire because of a lack of income, the article explains that even if you have a sizable nest egg, returning to work on even a part-time basis may help you push off withdrawals from your retirement accounts, depending on the rules.
It’s important to be careful about what your choice to unretire could mean for your Social Security because you don’t want to put yourself in a position where you unretire, get a job that’s both enjoyable and financially beneficial, only for it all to feel like a fool’s errand because in the end it reduced your Social Security payment.
Healthcare Benefits
The article also explains that unretiring could provide you with some lasting financial benefits. For example, unretiring before you’re eligible for Medicare typically means you’ll need to find healthcare coverage on your own.
And boy, are you going to have some sticker shock once you start shopping around. But if you unretire, you can place a priority on finding an employer that provides excellent healthcare coverage.
The Value Of Socialization
For many retirees, boredom is something they must grapple with, sometimes so much so that it leads them to unretire. But there are also times when the issue runs much deeper than common boredom. If you retire without a spouse or partner, or you don’t have a reliable circle of friends, social isolation is a significant danger.
Unretiring could surround you with new people who have similar interests and who then become friends outside the office. Even if you don’t build significant friendships with your co-workers, you may still find value in the conversations and interactions that occur throughout the workday.
The Reward Of Helping Others
Another possible upside that comes with unretiring is the physical and emotional boost you’ll get by helping other people. If you unretire and take on a new role with a service focus, like working with people who have special needs or helping at a food shelf, you’ll not only enjoy additional income, but you’ll also be serving your community in a way that provides you with a genuine sense of accomplishment
Regardless of what industry you made your living in, there are likely people out there who would benefit greatly from your experience and skills. Put what you learned during your career to work for others!
Embrace Variety
Another possible benefit that comes with unretiring is having an opportunity to try some things that you’ve long been curious about. During our working lives, we often don’t have as much time as we’d like to support causes and organizations we care about.
And we don’t always have ample time to pursue our own interests and curiosities while we’re busily growing our careers.
But if you choose to unretire and pursue a job outside your previous field, it may be the perfect time to follow some of your interests. If you’ve always been fascinated with history, why not a part-time job at a local museum?
Unless your unretirement is due exclusively to financial considerations, the process is something in which you can prioritize your happiness.