Why Are So Many Now Working in Retirement?

by Larry Steward, Work In Retirement Coach


There are two main reasons:

#1. Necessity

There are numerous advantages of continuing to work – the main one being that you can continue to build retirement assets while delaying your need to draw on those assets. Also, rising healthcare costs, lack of adequate retirement assets, reduction of pension and retiree health benefits, increasing longevity and rising living expenses mean that many people need to work in retirement.

#2. Desire

Even retirees with solid financial plans often want to continue working because they have a lifetime of experience they want to pay that back to others. Other people will work for their favorite charity because the involvement is so stimulating. They are motivated to contribute to and engage with society through work.

No matter the reason, working in retirement can be an enriching experience. There are so many creative options that can be considered. An important part of finding what you want to do next, is assessing what you have to offer and developing a plan to make it happen.


As a “Work in Retirement” coach, I have followed the growing trend of people finding a way to work in retirement and some deciding to stay at it and never retire. Surveys claim anywhere from 60% to 70% of retirees will work at some point in their retirement years.

It is unfortunate that those of us making the transition to retirement are not provided with more information about what to expect and how to prepare for all the required lifestyle changes that take place. What makes preparing to have a successful and financially sound retirement is the fact that we don’t know how long our life in retirement will be.

It is a fact that we are living longer than generations before us. Some could experience a life of 30 years or more in retirement! It’s understandable why we’re concerned about outliving our savings or if we will remain healthy. Therefore, finding a way to enhance your life in retirement by earning money doing something you love to do while you are still healthy, becomes more a more meaningful - if not a more necessary consideration.

I feel most retirees and those moving towards retirement, should learn the principles and techniques of how to make money in retirement. This isn’t doom and gloom we’re talking about. If done right, you will find yourself doing something you absolutely enjoy and that someone is paying you to do it! Now what can be better than that?

It is also interesting that some people have the means to enjoy a life of leisure in retirement, yet they seek meaningful work that engages them to happily devote their time and energy. They benefit from the structure, the stimulation to contribute and the chance to connect with other like-minded people.

I respect those who have decided not to work any more. That is what retirement is suppose to represent. Times have changed however, and I just hope this group has prepared for the long haul. Trying to put a backup plan into place after you have health problems or run into financial issues is not an easy problem to solve. Why not plan now at least and if necessary later on, take action as required.

Another factor to consider for those not making backup plans, is how realistic is their expectation of retirement. There are so many stories you read about people becoming bored and even depressed because their expectations of living a life of leisure is just not happening. You can reach a point where putting everything into your hobbies day after day can lose its appeal.

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