Words of Wisdom For Senior Adults 50+ Considering Unretiring
June 2, 2022
by Michael Yublosky
Just yesterday U.S. New & World Report ran an online article entitled “How to Unretire”. It pointed out both some positives as well as some negatives for senior adults 50+ contemplating returning to work. It cautioned you to consider several areas and not aimlessly take the plunge.
Some Of The Reasons People Unretire.
Your financial situation may be a concern in light of rising inflationary pressures. Dipping into your principal savings can be very disheartening and scary. You may decided to cut back and lessen expenses or you may opt to return to work, perhaps just on a part time basis.
Lack of a fixed schedule or hobbies you enjoy may cause you to feel bored from inactivity. Jobs provide structure as well as opportunities to socialize and make new friends.
Undertaking a new career path offers an opportunity to once again feel success. You may even feel a renewed sense of accomplishment in trying a new career. Returning to work can provide a new life’s purpose.
Your Next Steps If You Choose To Unretire
A good place to start your job search is at your previous employer if you’re seriously thinking of returning to work. They may welcome your experience and organizational knowledge.
- If that is not an option, the article advises you to consider some or all of these factors:
- Would you still be able to keep up with the physical demands of a new job?
- Are you willing to learn new technology requirements?
- Can you return to a fixed work schedule?
- Do you prefer in-person or remote work?
The article also led me to an interesting previous post – “10 Tips for Working in Retirement”. It outlined the following in a slide format:
- Gives additional time to save for retirement.
- Delays 401(K) witrhdrawals.
- Allows you to make catch-up contributions to retirement accounts.
- Attain a better balance between work and lifestyle.
- Chance to socialize and provide stimulation, both physical and mental.
The author also advises you to consider implications concerning collecting social security benefits and Medicare coverage.
All things considered, the advice and recommendations are sound if you are considering unretiring.
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