Many recent retirees are choosing to “unretire” because of inflation or the desire to reengage with the working world.
If you, too, are thinking of rejoining the workforce, what opportunities might be available to you?
And how will your renewed employment affect your financial outlook?
If you enjoyed the work you did for your former employer, you might want to see if you could go back on a part-time basis.
Or you could use your skills to join the “gig” economy by doing some consulting or freelance work in your former industry.
Going back to work, even part-time, can improve your cash flow.
Furthermore, the added income can possibly help you delay or reduce withdrawals from your retirement accounts — and it’s important to increase the longevity of these accounts.
Keep in mind, though, that if you go back to work before your full retirement age, which will likely be between 66 and 67, your earnings could affect your Social Security benefits.
Returning to work can be rewarding, financially and emotionally.
But you may get more from the experience when you’re aware of the issues involved.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.
