After working for decades, you may have been looking forward to retiring.
But what if you decide to “reverse” your retirement?
You could rejoin the workforce to help pay for living expenses, but you also might miss the social interactions with co-workers, or simply desire more purpose or stimulation in your life.
In any case, you’ll want to consider the advantages and possible drawbacks of going back to work.
As for the advantages, you’ll be increasing your cash flow, which can allow you to do more of what you enjoy, such as traveling.
You also might be able to pay down debts.
The added income might allow you to withdraw less money from your 401(k) or IRA.
And you might be eligible for your employer’s group medical insurance.
Regarding the possible disadvantages, your earned income could cause you to lose some Social Security benefits temporarily if you go back to work before your full retirement age.
Also, the extra income could increase your Medicare premiums or even push you into a higher income tax bracket.
Ultimately, if it seems the advantages outweigh the disadvantages, you may well enjoy embarking on your “second act” in the working world.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson and Hawes Dickerson. Members SIPC.
