Does Working During Retirement Interest You?
August 14, 2023
Your plan during retirement could be to get a job, writes Peter Watson.
The conventional retirement age has been 65 for many decades. However, things have changed. Life expectancy has increased, therefore the number of years spent in retirement could be much longer than in the past.
Continuing to work has many advantages.
If you’re so inclined, you could teach children how to sail in the summer or ski in the winter. Some would consider that more of a hobby than a job.
There are many examples of people who had office jobs who convert to do physical labour including building decks and other light construction projects.
It would provide continued employment income which could be useful given the fact that life expectancy has increased. There are potentially more years ahead to keep paying the bills.
If earning an income is not important, you could consider working for free in a nonprofit that provides services to your community and to those less fortunate. Your compensation would be satisfaction at knowing you are contributing to the well-being of others.
Staying active can be useful because of the mental stimulation. Part of the aging process is having diminished mental ability and the advice given by health professionals is to keep your brain active. This will happen with continued employment challenges.
Throughout your career you might have had different goals and aspirations. As you age you might find these goals and aspirations change. You might not have wanted a full-time volunteer position during midlife but now it might be the ideal solution.
As people enter their 60s, they still have strength, wisdom and much to give. If you have retired or planning on it, then you should consider the benefit to yourself and others if you continue to work.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com