5 Reasons You Should Never Retire

Americans spend decades working and saving money to enjoy their golden years in retirement. But while retirement may seem like an idyllic goal, it’s not always the best course of action. Though it might seem counterproductive to dreams of relaxing on a beach or sleeping in, continuing to work late in life has a lot of benefits, including mental and physical health, increased financial gain, and a better social life. Read on to learn five reasons you should never retire.

Cultivate a Sense of Fulfillment

Without deadlines or work goals, you might need to find new ways to occupy your time in retirement. While this is a great time to prioritize personal hobbies and interests, you might also continue working to cultivate your sense of fulfillment. Consider slowing down instead of completely stopping. You don’t need to maintain a full-time job — a part-time gig or consulting role will ensure you have consistent goals to work toward without becoming overwhelmed.

Continue Leading an Active Lifestyle

People in retirement are more likely to live a sedentary lifestyle unless they put effort into getting up and being active. That’s why working can be beneficial for both the body and mind. Commuting to the office gets you up and out for part of the day, and if you work in an active office environment, moving and walking each day encourages continued cardiovascular health. You can also reap mental benefits from interacting with other employees and solving tasks, keeping the mind active and sharp.

Keep Learning New Skills

The phrase “You can’t teach an old dog new tricks” couldn’t be further from the truth. As we age, learning new skills is a great way to challenge ourselves and develop positive cognitive benefits — and there are few better places to build those talents than in a work setting. Work trends are constantly changing to keep up with the latest technology. By staying immersed in an office environment, you’ll continue to pick up new skills as you grow older. 

Earn More Social Security

Many Americans are eligible to accept Social Security payments at age 62, but if you can afford to do so, waiting until age 70 will get you added financial benefits. If you keep working past your 60s, you can earn a regular paycheck and let your Social Security grow. By waiting to claim Social Security until you hit 70, you’ll receive 124% of your entitled benefits. If you can’t wait until 70, try to remain employed until you turn 67, which is considered the “full retirement age,” and you’ll receive 100% of your benefits.

Continue to Grow Your Investments

The longer you work, the more you can take advantage of your retirement account. Retirement funds, such as a 401(k) or an IRA, can grow into significant savings if you keep working to fund them. Many Americans are first eligible to claim penalty-free withdrawals from their retirement accounts at age 59. Still, if you can afford to keep working until 72, you can max out the contributions to your retirement accounts. This can result in a huge windfall of cash in your later years. 

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