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Reasons to work after retirement

Studies conducted by AARP reveal that more than half of seniors are working well into his or 70s and beyond. The financial reasons for working beyond retirement years are significant. However, many seniors are finding jobs in retirement to be a source of both vitality and fun.

There are several different reasons people return to work after retirement. The first reason is they are more likely to live a long life. Today’s retirees are more likely to live along life, 85 or older. If you retire at 65 this could lead to you being out of work and living off savings for 20 years.

A second reason is lack of retirement plans. Many households have not planned for retirement. Many households do not include long-term care, rising medical costs, and inflation when they plan for retirement. A third reason for returning to work is medical benefits.

Many people who retiree are nor prepared for the high cost of medical care and many are no longer part of a company health insurance. Many believe Medicare will cover all or most expenses when in reality Medicare will only cover a small percentage of their medical bills. Therefore, working after retirement will positively impact your medical benefits.

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