Yes! Retire at 62 and Work Part-Time in Retirement

Work Part Time in Retirement - Rebel Retirement

It’s an excellent idea to work part-time in retirement. It’s an especially sweet deal if you work and also take advantage of collecting Social Security benefits at 62.

Additionally, working part-time in retirement can help you stretch your resources, whether yours are thick or thin.

Furthermore, and perhaps the most rewarding, is that it can help you stay creative at any age.

Many retired people work part-time and it doesn’t necessarily mean they need the money. I know a woman who isn’t concerned with the extra cash who works a day or two a week just to get out of the house!

Regardless of your reason, don’t be dissuaded by naysayers who say you’re not really retired if you work.

Social Security - Rebel Retirement

Collect Social Security. Work part-time. Invest in yourself.

Ya know what? It’s your money. Be shrewd about it. Start collecting Social Security benefits at 62 and work part-time.

Take the money and invest in yourself. It’s similar to a Rich Dad, Poor Dad concept. Let your Social Security benefits work for you!

Brainstorm ways to invest some, or all, of your benefits while collecting a paycheck at the same time.

To clarify, I don’t mean investing in a deceptive stock market where you could wake up one morning and find your retirement savings went poof.

Examples of investing in yourself would be to buy a piece of land where you can retire, start a business, finally write your book, get out of debt, and so on.

Use the money in a way that would improve your circumstances. An enterprise that could potentially create passive income is ideal.  

Yes. Before FRA, there are annual earnings limits to what you can earn before it affects your Social Security benefits. However, it’s not a big deal.

Read: Exceeded Social Security Earnings Limit: Don’t Worry

And the beauty of working part-time and collecting benefits is that while you’re employed, the Social Security taxes deducted from your paycheck are applied to your account which increase your credits. 

When you reach full retirement age, your benefits will likely increase because Social Security recalculates your benefit amount to reflect the years that you worked after you began collecting at 62.

Working part-time in retirement while collecting Social Security has its benefits if you take advantage of it.

Work part-time in retirement to stretch resources.

Once you’ve said goodbye to the job, you’re likely to live an additional 20 years, well into your 80s or possibly 90s.

If you do need the money, and many baby boomers do, working part-time in retirement can give you the extra financial stability that you need.

I know retirees who work seasonal jobs driving shuttle buses in national parks, while others take temporary retail jobs around holidays.

Other entrepreneurial-minded retirees use their expertise to start a business. Plus, it’s not uncommon for retired professionals to offer consulting services.

With that said, even if you’ve planned financially for retirement and think you don’t need any more money, a paycheck from a part-time job can be useful to your overall long-term plan.

Here’s how.

A part-time job can supplement your savings.

In other words, the extra money from a part-time job can help you delay or avoid taking too many withdrawals from your retirement savings.

Even if your nest egg is under your mattress, you can delay touching it while making it grow.

Retire and get creative with part-time work.

It’s well known that staying socially active and using your brain can improve your health and reduce the risk of serious illness.

And one way to exercise your body and mind is to get involved in creative part-time work that challenges you.

Not only that, with a little effort, it’s possible to turn your creative talents into an income stream.

For example, you finally have the time to pursue your joy of painting. Seeing your art sell in a local shop is satisfying and has the extra bonus of bringing in some extra cash.

Perhaps you’re better suited to setting up an Etsy store where you sell your products online. A lifelong hobby can become exciting part-time work.

Youtube offers another excellent outlet for creatives.

I can’t begin to imagine the numbers of baby boomers sharing their experiences on video.

Do a simple search and you’ll find topics on everything from RV retirement lifestyles, to pantry prepping, to how to survive in the woods.

As for me, after years of raising kids and working alongside my husband in business, I work on my online presence, as do countless other older adults.

Takeaway

Many retirees work part-time in retirement. And it’s an especially good idea if you take advantage of collecting Social Security benefits while working part-time because it gives you the opportunity to invest in yourself.

If you need the money, a part-time retirement job can give you the financial security you need. If you don’t need the money, working part-time can help you build a bigger nest egg.

Lastly, working part-time in retirement can help you stay active as you age. Hence, providing the opportunity to focus on maintaining good health while possible providing an income stream.

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