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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 lives….minimum. That made it a lot easier to submit my “intent to retire” paperwork 6 months in advance. I only waited until January, vs. December, to enable an additional $19,000 to be contributed to our Roth IRAs for tax year 2024.
I have been content to go to the gym 3-4 days a week and attack my to do list around the homestead. (We live on 6 wooded acres in NC.). I thought I would miss it, at least a little, but honesty, I am glad to be free and clear of the toxicity that is academia today. I will look for other things t do over the next 6-12 months, but first some travel and then some evaluating where do we want to retire to? FL, GA, TN, SC, PA, W VA, or stay in NC.
Wherever it is, it will be a conservative area in a conservative leaning state. I have had all the left-leaning, anti-American, politically correct a-holes I can tolerate for the rest of my days.
Enjoy your retirement.
With that, don’t retire to Hawaii.
Aloha.
From someone who stood on their feet for 30 plus years and had physical demanding work, the post retirement work does not interest me. I find enjoyment in just helping my neighbors or friends with small projects or just having conversations with them over a cup of coffee. What some people wouldn’t call volunteering, I donate plasma and platelets on an average of twice if not three times a month at the local nonprofit blood bank. It takes an average of two to two and a half hours each time. Also had volunteered in an overnight program with my church for many years.As one of the frequent contributors here Dave Gartland(sp) mentioned a while back about volunteering is like paid work. You don’t get a paycheck for it. Not that you should.Remember when my father volunteered to drive the coach at a retirement community where the CEO made $250,000 plus if not more, couldn’t afford to pay someone to drive it. Bunco! Some of these volunteering opportunities actually take away paid work for someone. I understand one can have new experiences and opportunities. I realize many contributors here have the gifts and talents to continue providing their expertise and such in their related fields in volunteering, yet some of us are just tired of work and want to hang it up for an non-work/volunteer retirement. I finally been able to catch up on my skiing and traveling in retirement.
P.S Jonathan, reading and following your suggestions since you wrote at WSJ given my wife and I a comfortable start in retirement. Thank you
Glad things have worked out well!
I’ll put in another huge plug for volunteering! (Bold and Underlined:) I have volunteered for various non-profits most of my life, but retirement allowed me to expand those commitments. Trust me, there are plenty of (all) organizations that would welcome your time and expertise.
I’ve never read an article here that I agree with more — with one qualifier, from my perspective. All the joys that I derive from my continued consulting gig is achievable because I work from home. If I had to get in the car (or on the ferryboat, in my case) to commute to a job, all those joys would be muted or lost altogether. I get plenty of social interaction from Zoom and conference calls — no need to gather around a table.
I’m also fortunate to be able to continue to learn new things within the context of my job, which is media relations for medical device companies. I am constantly learning about exciting new medical technologies, which are plenty challenging for my shrinking intellect!
Yes to all of those thoughts. But, it doesn’t have to be paid work. I don’t need any more money but I get all seven of those other benefits from chairing a college board, a hospital board and a foundation board and mentoring engineering students, plus a few other volunteering gigs. Travel and continuing education are also part of those.
Maybe this is a future HD article for me. I planned to retire at 67 after 20 years with the same company. I enjoyed my work, I especially enjoyed almost all my coworkers. In my last six months of employment (I did not tell them I planned to retire), I had three different managers – all with three different business goals. On top of that, the entire desktop infrastructure was undergoing massive changes. It was an easy decision to leave. The nature of my work did not support a part-time engagement, and I didn’t want to do that anyway. Within weeks I was in a woodworking class, exercising more, eating better, and engaging with my social circle. I&#