Retirement isn’t all rest, relaxation and an escape from your job. These days, the retirement age seems obsolete, as more seniors work through their older years.
It’s not necessarily because these seniors are workaholics, though. There are many reasons for and benefits to continuing to work after retirement. In fact, many experts at Columbia’s 2016 Age Boom Academy revealed modern-day retirement often involves work in some capacity.
After spending decades on the job, why would you want to keep working? Discover the advantages for seniors when they work after retirement.
– Boost your cognitive health: There’s increasing evidence that proves work aides in boosting cognitive health among older adults. It may even help stave off dementia. This is largely because work typically keeps people socially connected, mentally challenged and physically active. These are all important factors in warding off cognitive decline.
– Cushion your retirement fund: Longer, healthier lives stemming from modern medical technology have resulted in the need for even more savings to fund retirement. By working into your late 60s and through your 70s, you may enjoy a more financially secure retirement. That’s not to mention the fact that you’ll have access to health insurance through your employer, which also proves beneficial.
– Avoid governmental restraints: The number of adults over the age of 65 is rapidly increasing, especially as Baby Boomers approach retirement. The aging population will put incredible stress on resources and services provided for older adults, such as Medicare, Medicaid and Social Security. Simply put, the government doesn’t have the appropriate funding to support such a vast senior population. Plus, health care and long-term care costs are increasing considerably. All of this means the United States must rethink how it can better serve this subset of the population. In the meantime, working longer may play to your advantage while officials rethink how to care for our aging population.
Not all seniors can work after retirement due to health challenges. Others may find ageism in the workplace a major issue or concern.
Still, there’s no denying the fact that there are certain advantages to work after retirement. Research has even shown that many people’s health declines significantly after they retire. Several residents at The Clare continued working for some time after they moved in, and some continue to work to this day. As a result, their lives have proven more robust and fulfilling than they ever imagined possible in their retirement years.
So whether you’re ready to launch a brand-new career or would like to continue with the passion you’ve fostered your entire life, don’t let retirement deter you. There are plenty of opportunities in store.