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Biddle Law Estate Planning Blog

Saturday, October 31, 2020

Should You Consider Coming Out of Retirement?

For many of us, retirement is the ultimate goal of working. Though we’d all love to retire early, most of us aren’t able to retire until after we reach the age of 65. However, while many people can’t wait for retirement, others find a real sense of purpose in their work. And sometimes, individuals who retire decide that they want to go back to working after all. So how do you know if coming out of retirement is right for you? Here are some signs that it may be in your best interest.

You Spend Too Much Time on the Couch

According to numerous studies, individuals who are more satisfied with their jobs may find themselves in better health as well. This may be due to the fact that when you’re up and moving around you aren’t as likely to become sick as when you are sitting on the couch all day.

You Don’t Have Enough Income to Sustain Your Lifestyle

Most of us spend our entire working life trying to save enough money to retire comfortably. But what if between your Social Security benefits and your savings you lack the income to maintain your desired lifestyle? This is one situation in which it may be in your best interest to return to work. For every year you spend in the workforce, it’s one less year that you’ll have to depend on your savings.

You’re Often Bored, Unhappy, and/or Lonely

Although some people find hobbies during retirement, such as traveling, that they enjoy, others find themselves extremely unhappy without their regular work schedule. Many people find themselves lonely without daily contact with co-workers.

You Loved Your Job

For some people, they could not get enough of their job; working gave them a great sense of accomplishment. Others don’t realize just how much they enjoyed their jobs until they’ve retired. If you realize that you loved what you did, it may make sense to return to work.

You Want to Follow Your Passion…Finally.

For many people, following their passions and dreams has never been an option due to the lack of job or financial security that would have come with it. But once you have retired with a secure amount of investments, a pension, savings, and/or Social Security benefits, you have the financial freedom to take the risks you never could before. If this is the case for you, you may consider finally pursuing a passion-driven career opportunity.

Biddle Law Can Help with the Creation of a Comprehensive Estate Plan

No matter how old – or young – you may be it is extremely important that you ensure the existence of a comprehensive estate plan, which includes a plan for your retirement. In order to achieve this, you should consult with a knowledgeable and experienced estate planning attorney who can answer any questions you may have and walk you through everything. At Biddle Law, we care about your future and want to assist you in protecting it. To learn more or to schedule a consultation, contact us today!


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