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Financial • 4 minute read

Working Part-Time After Retirement

Working Part-Time After Retirement
By Kristina James
Published by Ruby

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The “Great Exhale”.

That wonderful day finally arrives – that day when you bid farewell to the 9-to-5 grind and get ready to settle into retirement.

The idea of spending countless hours on the golf course or visiting grandchildren is appealing, but, after a few months, you may realize all that free time isn’t what it’s cracked up to be.

Maybe you miss a certain structure to your week or the relationships that a workplace brings.

Here’s the good news: Working is not all or nothing.

You can work part-time and pick and choose exactly what you want to do and when you want to do it.

You’re not alone.

Almost 75 percent of employed Americans plan to keep working after they retire, according to a 2017 Gallup poll. But 63 percent of them don’t want a full-time job. Work is less stressful when you aren’t required to be there 40 hours a week.

Different strokes…

Older workers choose part-time jobs for a variety of reasons. For some, a little extra money helps with monthly expenses or allows them to sock away a little extra cash for travel. Others might just need a reason to get out of bed in the morning – a place to go and a routine that helps bring order to their life. And there is freedom in just deciding to quit a part-time job if you’re not happy. Working now is really all about you.


Four reasons to consider a part-time job:


1) Working keeps you physically healthy.

A National Health Interview Study found seniors who work are in better health than those who don’t.


2) You love your career.

You’ve enjoyed your career and want to continue working in your field, just not on a full-time basis. Often you can take on a new job in the same field that lets you use your skills on a less structured basis.

3) You want to experiment with a new line of work.

Now that you don’t have to depend on a regular paycheck, you can try something you love that you wouldn’t have pursued during your full-time working life. Maybe you love to cook and can try work at a kitchen store or with a caterer. Or you love animals and want to start a pet sitting or walking service.

Think out of the box!

Always wanted to spend time in the great outdoors? Every year, the National Park Service and state parks hire temporary rangers for the busy summer season. Are you a crafter? Turn your hobby into a business selling at local crafts fairs or online.


4) Every Penny Helps.

Even jobs that don’t have a huge financial return can help the bottom line of your retirement plan.

A regular paycheck means you don’t have to withdraw as much from your savings every month, and that will allow your nest egg to grow and your savings to last longer.


Let’s talks numbers.

Say you need to have $5,000 a month to live on. Your Social Security provides $2,000 and your part-time job yields $1,000. That means you’re only taking $2,000 a month out of your retirement account.

Just keep in mind that if you are taking your full Social Security benefit you cannot earn more than $17,640 without it impacting your monthly check. The amount changes yearly so keep track of that figure.


Fun money.

Some retirees work specifically to pay for something they love to do – whether it’s travel, paying for gifts for loved ones, or a season ticket to watch a favorite team. When you know that your paycheck is funding something that brings you joy, it makes going to work way more enjoyable!


You have so much to give.

Whatever your reasons for working part-time after retirement, know that it’s not just you that is benefitting. Employers and co-workers gain experience, wisdom, friendship and more from having older colleagues.

Never underestimate your value!

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