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ARE YOU READY TO swap your office chair for a rocking chair? Hold that thought.
Before you dive into the world of endless vacations and gardening, consider that keeping a toe—and perhaps your whole foot—in the workforce might be the secret ingredient to a fulfilling retirement. Don’t believe me? Here are seven compelling reasons to keep working at least part-time.
1. Stay young at heart. Remember the excitement of landing your first job? That thrill doesn’t have to end. Continuing to work, even part-time, keeps your brain active and challenged. It’s like a gym membership for your mind, warding off the cobwebs and keeping you mentally sharp. Learning new skills and adapting to new environments can be the fountain of youth for your brain.
2. Social butterflies keep fluttering. One often-forgotten benefit of work is the social connections. Picture this: engaging conversations by the water cooler, team lunches, and the camaraderie of working toward a common goal. These interactions are invaluable and keep you connected to diverse groups of people, ensuring that your social life remains vibrant and dynamic.
3. Even more financial freedom. Who doesn’t love an extra bit of cash? Continuing to work means more financial breathing room. You can fund those dream vacations, spoil the grandkids or simply enjoy the peace of mind that comes with a steady income. It’s not just about the money. It’s about the freedom and choices that money can provide.
4. Purpose, passion and pride. Work can be a significant source of all three. Whether you’re mentoring younger colleagues, contributing to meaningful projects or just being part of a team, these experiences validate your skills and experience. It’s about feeling valued and knowing you’re making a difference.
5. Keep the doctors at bay. Believe it or not, working can be good for your health. Studies suggest that those who continue working tend to enjoy better mental and physical health. The combination of mental stimulation, social interaction and a sense of purpose creates a powerful health cocktail.
6. Flexibility is the new black. Retirement doesn’t have to be all or nothing. Many retirees find joy in flexible work arrangements like part-time jobs, consulting or freelance gigs. This flexibility allows you to balance work with leisure, family time and hobbies. With the right job, you get to design your golden years exactly how you want them.
7. The joy of lifelong learning. Ever wanted to try a completely different career or learn a new skill? Now’s your chance. Retirement can be the perfect time to explore new interests or passions in a low-pressure environment. Who says you can’t be an intern at age 60 or start a new venture at 70?
Bottom line: It’s your adventure. Retirement is a journey, not a destination. By incorporating work into your retirement plan, you’re not just adding years to your life—you’re adding life to your years. It’s about finding the right balance that makes you jump out of bed each morning, excited for the day ahead. So, what will your retirement adventure look like?
Dan Haylett is a financial planner and head of growth at TFP Financial Planning, a U.K. firm that specializes in modern-day retirement planning. Dan’s “pull back the duvet every morning” purpose is helping clients spend their time and money on what’s truly important to them. A version of the above article first appeared on Dan’s website, where you can also learn about his Humans vs. Retirement podcast. Follow him on X (Twitter) @DanHaylett. Dan’s previous article was The Changes Ahead.
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This article reminds me of the argument to set the retirement age for social security age to an older age. This may be fine for those of us who enjoy our jobs or who do not do hard labor. But for those who do manual labor as part of their work such as construction, police work or firefighting, is it realistic? It is easier for those whose work is mostly heavy thinking instead of heavy lifting to have the luxury of continuing to work and make money.
And there’s no prescription for a toxic boss.
I’m going to retire next year after a 35-year career as a professor. Until recently, I’ve always loved my job, but over the past several years, some toxic university leadership/politics has made it close to unbearable. (I still do love teaching and mentoring students and doing my own writing.)
I won’t need to work after retiring from this job for financial reasons, but lately I find my mind wandering to places where I think it would be fun to work part-time. Trader Joe’s, for example. I’m there several times a week, anyway. As a dog walker because I love both walking and dogs. This past weekend, we went to spring training baseball in Arizona. It seemed like most of the workers at Scottsdale Stadium—shop, concessions, ushers, ticket takers—were my age or older. Lots of retirees in Arizona, and if you love baseball, how fun might that be for the six weeks of the spring training schedule (or the six weeks of the Arizona Fall League)?
I notice that all of these options are about as different from being a university professor as they possibly could be. Clearly I’m burned out and want a change. Chances are I’ll fill up my time with volunteering and social life, though, because I do want the flexibility to travel when and where we want to.
Dr. Lefty,
I feel your pain! I retired in January, 2024 after 15 years as a college professor, which was preceded by 40 years as a financial services professional. Like you, I relished my students and contributing to their growth, both personally and professionally, and I loved my teaching duties.
The rest of it became unbearable. With DEIB being crammed down our throats and leadership with little academic experience, my institution was becoming another bastion of political correctness.
Having saved and invested, especially in my later years, I knew that at my age (73, wife 69) I had guaranteed cashflow of a minimum of $100K a year, for the rest of our live