Working After Retirement: By Choice or Force?

Working after retirement...

Retirement is something many people look forward to during their working life.

After working for so many years paying mortgages, college tuitions and a steady stream of monthly bills, the idea of not having to work every day is like a dream come true for many.

However, more and more people are choosing to work after retirement.

The once-upon-a-time dream of having enough Social Security benefits to live happily ever after has become almost a nightmare for many with the high cost of living and steadily increasing costs.

Although many people have pensions and retirement plans, not everyone is so lucky and discover they need to continue working after retirement age.

Many individuals continue working after "retiring" so they can continue to live in the style they've become accustomed. Even those that don't need to continue working after retirement often choose to do so for something to do each day.

After getting up and going to work for forty years or more, many senior citizens aren't quite sure what to do with themselves with suddenly nothing to do and nowhere to go each day. Rest and relaxation can only last so long!

Retiring gives you the opportunity to spend more time with your family and finally do the many things you never had time to do. In spite of all this extra time, many individuals find themselves becoming bored and restless very quickly and decide to work after retiring.

Continuing to earn a paycheck is another major factor in their decision to work. If they don't have an adequate pension plan they're going to have to rely solely on Social Security for their income...which often falls short...as well as being much smaller than their paycheck was from working.

So they choose to continue working after retirement to allow their Social Security benefit amount to become the maximum amount.

The individuals that do have pensions and retirement plans often reinvest them in stocks, bonds and other financial options to earn more money until they're actually ready to relax and enjoy a full retirement.

Statistics indicate that almost 2/3 of all Americans plan to continue working for money after retirement. If you're in this category of individuals that wish to continue working after retirement, there are some factors you need to consider before making your final decision.

Even while on Social Security you're still entitled to work but you can only earn a certain amount of income. This amount will vary depending on what your benefits will be upon retiring. Make sure you check with the Social Security Administration before you begin working so you'll know where you stand or will stand financially.

If you have a pension coming upon retirement, make sure that this will not be affected by your working. These important factors should all be looked into before you begin your job hunting.

Knowing the answers to these questions will help you determine what type of job you want and how many hours you want to work each week. Check this all out before you begin working after retirement.

The above information really gets to the crux of this website. Let's be real...the 66.6% of people who still work after their so-called "retirement" aren't doing so because they really want to. Their lack of planning or lack of personal goals/personal growth aspirations are the reasons for their predicament.

If you want to actually retire in a manner where you call the shots every day then you need to plan to make that happen. Wishing for the ability to choose your destiny (in retirement or simply life itself) is the best way to realize misery and lack.

Working after retirement should be by choice, not force. In order to make your retirement one of choice, stop counting on a corrupt and broke government to bail you out.

Act as if you will never receive Social Security benefits or something from your employer, IRA, etc. Act as if you must fund your entire retirement all on your own (if you're on the younger side, you will!) Begin investigating small business avenues where you can create multiple streams of incomes.

Real estate can provide you solid income during retirement that is much higher than working at the local Walmart. You could buy investment properties now while working, pay them off and then use the rent for income after "retiring". You could also sell some of them for big windfalls later in life. You could invest in tax liens. Real estate offers multiple ways to bring in income.

You could learn to build websites around your personal interests/hobbies. Each small website could bring you $250, $500, $1000 or more per month in income. How many such websites would you need to realize your dream monthly income? Figure it out now.

For those who reach retirement and get bored, it's because they have given up on the growth process that life has to offer. If you see yourself retiring to the easy chair and 10 hours of TV every day, pick up a book such as "See You at the Top", by Zig Ziglar and open yourself to the magic of life!

No matter your current age, you must always take an interest in growing as a person. If you don't you're destined for misery, no matter your financial situation.

Remember, you're either growing or dying. Make sure you become one of the happy people where working after retirement is all about choice and doing what you love until the day you leave this crazy place called Earth.