Retirement used to mean saying goodbye to the workforce and enjoying a well-earned rest. But for an increasing number of retirees, it now means continuing to work – either because they need the money or because they enjoy staying active and engaged.
There are many reasons why more and more retirees are choosing to work. Here are just a few:
- Rising costs of living
The cost of living keeps rising, but pension incomes often don’t keep pace. This means that many retirees are finding it necessary to supplement their pensions with earnings from part-time or casual work.
- Improved health and longevity
People are living longer and staying healthier for longer. This means that retirees are often able to continue working well into their 60s, 70s, and even 80s.
- The need for social interaction
For many people, work provides valuable social interaction and a sense of purpose. Retirees who find themselves feeling isolated and lonely may choose to work part-time to combat these feelings.
- The desire to stay active and engaged
Work can be a great way to stay active, both mentally and physically. Jobs for Retirees who want to avoid the boredom and stagnation that can come with retirement may find that working even on a part-time basishelps them to stay sharp and engaged.
- The challenge of retirement
For some people, retirement simply isn’t all it’s cracked up to be. They may miss the structure and routine of work, or they may find that they have too much time on their hands. Working even if it’s just a few hours a week can help to alleviate these feelings.
- Financial security
In these uncertain economic times, many retirees are finding that they can’t rely on their savings and investments to provide the level of financial security they need. Working even if it’s just a few hours a week can help to top up their incomes and give them the peace of mind that comes with knowing they have a little extra money coming in.
- The need to stay mentally sharp
For many people, work provides an important mental challenge. Retirees who want to keep their minds active and prevent the onset of dementia may find that working even on a part-time basis helps them to achieve this goal.
- The desire to give back
Many retirees find that they have a lot of time on their hands and a desire to give back to the community. Volunteering for a local organization or charity can be a great way to do this, but some retirees also choose to work part-time to earn a wage that they can then donate to their chosen cause.