Should You Work After Retirement? What Older Adults Need to Know

Retirement is often viewed through the lens of an accountant: When do you want to retire, and how much money will you need to save to do that? Work until you hit that number, then work no more… forever. 

And once you do reach that target age and retire, the popular narrative emphasizes that it’s a time for reinvention or rebirth. Everybody seems to ask, “How on Earth are you going to fill the work-shaped hole in your life?”

You could — in fact — keep working. As many retirees live longer, healthier lives, it’s sometimes more practical to work beyond the traditional retirement age. Plus, continuing to work can offer benefits such as better physical and emotional health and greater financial flexibility. 

As you consider what the next chapter of life might look like, take some time to consider the following: 

Is it OK to not retire?

Of course! In fact, roughly 20% of Americans 65 or older are either actively working or seeking work.

A job can help structure your time while keeping you active and engaged, and following a routine has health benefits. One study conducted by the Centers for Disease Control suggested that, compared with people who retired, people who worked past age 65 were about three times more likely to report being in good health and about half as likely to have serious health problems, such as cancer or heart disease. 

This makes sense, as even a desk job encourages some level of activity. Physical activity greatly reduces the risk of serious falls and health issues such as arthritis. But it’s not just physical health that working can improve.

Finding purpose in retirement

The idea of retirement as an entirely new life can be overwhelming. Rather than framing retirement as a complete reinvention, think of it in terms of steering the current path you are on. Your experiences have shaped who you are, and that’s a great thing that you can build upon.

In addition to retirement income, there are many reasons to continue working. Culturally, work gives many people a sense of purpose. This feeling of community and social inclusion can improve mental health and may help alleviate symptoms of depression. 

A workplace can also offer regular interaction with others, which can maintain mental sharpness and cognitive function. In fact, avoiding isolation is an important part of preventing cognitive decline. 

Some people might be concerned that they will be bored in retirement, and continuing to work is a great way to counter that. Working past the average retirement age certainly keeps you busy and gives you something productive, active, and consistent to do. 

Of course, it doesn’t have to be all or nothing, nor do you have to stay in the workforce to keep busy. Simply taking the time to learn something new can be enough to maintain a sense of structure and purpose. 

What are the best jobs for retirees?

By the time we reach our 60s, we have accumulated decades of work experience and valuable skills. You might continue to work the same job you have always had. Moving to a senior living community doesn’t have to mean stepping away from work. 

Depending on how mentally or physically demanding your career was, you might want to consider low-stress jobs after retirement, or reducing your hours to part-time. The work you choose doesn’t have to be long-term or full-time. It could simply be a temporary job that helps you ease into retirement.

Retirement can be a good opportunity to switch careers and pursue your passions. For example, if you really like the performing arts, a job ushering at a theater could be fulfilling and fun.  

You can also consider getting involved in a volunteer program that aligns with your interests. 

Working in retirement to make more money 

Whether it’s a little extra spending money or a way to bridge a financial gap, you might need the extra income that work provides. 

Inflation, an unexpected financial emergency, or a medical setback might trigger a recalculation in how much money you feel comfortable retiring with. For many, working during retirement is a way to offset some of the financial stress of living on a budget — especially in areas with a high cost of living. 

Medical insurance is another consideration, as Medicare might not cover everything you need. Working for an employer that provides private insurance might better fit your needs. Additionally, Medicare is a personal policy that does not cover dependents. That’s an important consideration if you have to cover your spouse or another dependent, such as a grandchild.

Jobs that don’t offer health or retirement benefits can still help, as they prevent you from dipping into your savings. Full-time or part-time jobs in retirement can supplement retirement funds, providing a little extra “fun money” for going out to dinner or supporting hobbies. The extra financial cushion might allow you to check off some of those bucket list items, like a vacation with family. 

The longer you work, the more you will pay into Social Security, which may increase the benefits you receive later. However, if you haven’t reached full retirement age, your yearly earnings could temporarily reduce your benefits payments. Before starting a new role, it’s worth understanding how continued employment could impact your benefits and overall financial situation. 

Also, the longer you work, the more you will pay into Social Security, which may increase the value of the benefits you receive later.

Finding work flexibility in senior living communities

Communities such as Orchard Cove in Canton, MA, and NewBridge on the Charles in Dedham, MA, offer unique advantages when it comes to working after retirement. Without the need to maintain a house, residents have extra time to focus on personal and professional interests — and moving to a senior living community doesn’t have to mean stepping away from work. 

After moving into Orchard Cove, Claire Marshall continued her career as a bookkeeper until she was ready to retire after 47 years. Another Orchard Cove resident, writer Bryna Paston, dedicated her time to writing her book,  “How to Be the Perfect Grandma,” which sold more than 80,000 copies. Then, with her husband’s help for source material, she wrote a sequel: “How to Be the Perfect Grandpa.” 

Additionally, Hebrew SeniorLife’s communities allow retirees to work while taking advantage of other amenities. Orchard Cove resident Pat Noonan is a clinical pharmacology consultant and founder of a pharmaceutical consulting company. He helps develop and analyze data from clinical studies required for drugs to get approval from the Food and Drug Administration. 

“I’m enjoying it. I’ll do it until it’s no longer fun, and I’m in a good place to be able to do that here at Orchard Cove,” he said. Pat is also involved in Orchard Cove’s fitness programs, participating in both tai chi and fitness classes. Though he has long worked remotely, living at Orchard Cove has encouraged him to engage in a steady exercise routine.

Hebrew SeniorLife’s senior living communities, which include both our continuing care retirement communities and affordable senior housing options, are designed to meet the many needs of seniors regardless of career status.

To learn more about living in our communities, explore our options online today.