Working Beyond Retirement: The Benefits of Part-Time Jobs
Manage episode 474924095 series 3585390
We explore the financial and emotional benefits of part-time employment during retirement, discussing how it can both extend retirement savings and provide a sense of purpose during this major life transition.
• Part-time work provides social connections and purpose when transitioning from decades of career identity
• Working in retirement can help extend retirement funds by supplementing income and reducing the need to deplete savings
• Delaying Social Security through part-time income can increase benefits by 6-8% per year
• Continuing to earn income allows for ongoing retirement account contributions rather than withdrawals
• Working part-time may help improve Social Security calculations by replacing "zero" years in the 35-year formula
• Popular retirement job options include freelancing, consulting, retail positions, teaching, and tutoring
• Creative options include renting property, selling on Etsy/eBay, blogging, creating online courses, and tutoring
• Choose work aligned with your personal interests and desired lifestyle flexibility
Schedule your complimentary consultation at masterplanretire.com or call us at 770-980-9262 to discuss your retirement strategy.
Have a topic or question you'd like Mark and Evan to address in a future episode? Email us at [email protected] or call 770-980-9262.
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Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants. The aforementioned are affiliated companies.
Chapters
1. Working Beyond Retirement: The Benefits of Part-Time Jobs (00:00:00)
2. Should You Work in Retirement? (00:00:06)
3. Emotional Benefits of Part-Time Work (00:02:21)
4. Financial Advantages and Tax Strategies (00:06:01)
5. Social Security Considerations (00:09:49)
6. Part-Time Job Ideas for Retirees (00:13:09)
7. Online Income Opportunities (00:21:27)
8. Wrap-Up and Contact Information (00:24:01)
83 episodes