Problems with working during Retirement

There is no denying the many benefits of working during retirement. This is a good way to stay active, earn extra money, and meet new people. But before you head out and get a full-time or part-time job, you need to consider the potential problems involved with doing so.

  1. Age discrimination. Although you may not want to believe it, many retirees are discriminated against when applying for jobs. Some employers are worried about the ability of an older worker to keep up. Others are afraid that they will hire somebody, just to have them quit soon enough because of the demands of the position. Of course, you should not let this stop you from seeking employment. A few dishonest employers should not ruin the reputation of them all.

  2. Will your pension be affected? In some cases, returning to the workforce after retiring will affect your pension. Make sure you check with your employer to ensure that you will not lose any benefits should you get a job during retirement. This tends to be more of an issue for those who go back to work for the employer who is in charge of their pension. It is better to be safe than sorry. It only takes a few minutes of your time to get the right answers.

  3. Less time for fun, family, and relaxing. Remember this: just because you are working during retirement does not mean that you can slack off. Your employer is still expecting you to complete your job to the best of your ability. If you are not willing to put the proper amount of time and effort into your job, it is better that you stay away from this for the time being. It is not fair to you or your employer if you are not 100 percent dedicated because your mind is elsewhere.

  4. Taxes on social security benefits. Since you will be working your income will be increasing. In turn, there is a chance that a bigger percentage of your social security income will be taxed. You need to weigh this additional amount due in taxes against how much you will be earning.

  5. You don’t want to wear yourself out. While taking on a job can help you stay active, as well as mentally sharp, it can also wear you down if you are not careful. It is important that you take care of your body, first and foremost. If your job is causing unneeded stress and/or health concerns, you need to strongly consider taking a leave or retiring for good.

Do any of the above problems worry you? Before you take on a job during retirement, make sure you are well aware of the potential drawbacks. Once you know the pros and cons of rejoining the workforce you can make an informed, final decision.

Print Friendly

Follow us on Facebook!

Recent Articles on RetireEasy