For many people, retirement is the time when they can finally relax and enjoy life without having to worry about work. However, some people may find that they still want or need to work even after they retire. Bill Schantz of Mid Atlantic Financial LLC says that there are a few things to consider if you’re thinking about working in retirement:
● Do you really need the money?
If you’re retired, chances are you’re living on a fixed income. Working can help supplement your income and give you a little extra spending money. But if you don’t need the money, you may want to consider other options, such as volunteering or pursuing a hobby.
● Are you physically able to work?
As we age, our physical ability to do certain things declines. If you’re thinking about working in retirement, make sure you’re physically able to do the job you’re considering.
● Do you have the skills and experience for the job?
Employers are often looking for people with specific skills and experience. If you don’t have the right skills or experience for the job you’re interested in, you may want to consider taking some classes or getting some training before applying for the job.
● Do you really want to work?
Just because you can work doesn’t mean you should. Retirement is a time to enjoy your hobbies, spend time with family and friends, and do the things you love. If working is going to take away from that, you may want to reconsider.
According to Bill Schantz, there’s no right or wrong answer when it comes to working in retirement. It’s a personal decision that you’ll need to make based on your own circumstances. But if you do decide to work, there are a few things to keep in mind. Make sure you’re physically able to do the job, you have the right skills and experience, and you really want to work. Otherwise, you may find that retirement isn’t quite what you expected.
Bill Schantz Shares the Pros and Cons of Working in Retirement
One of the pros of working in retirement is that it can help keep you mentally sharp. A study by the Stanford Center on Longevity found that retirees who stay active and engaged in work or other activities have a lower risk of developing dementia.
Another pro of working in retirement is that it can provide a sense of purpose and satisfaction. Many retirees find that they enjoy the social interaction and sense of accomplishment that comes with working.
There are also some potential downsides to working in retirement. For example, it can be challenging to balance work with other activities and commitments. It’s also important to make sure that you’re choosing a job or activity that you enjoy and that won’t add too much stress to your life.
Ultimately, the decision of whether or not to work in retirement is a personal one. According to Bill Schantz there are pros and cons to consider, but it’s ultimately up to you to decide what’s best for you.