Should you Work after Retirement

Whether one should work after retirement really depends on one’s financial position and general disposition.

Apparently the vast majority of people do not make provision for themselves and their families when they are young, and find poverty facing them unless they continue to work into old age. Indeed even the thrifty who have been responsible enough to save or subscribe to a pension for most of their working lives might still find their final pension not enough to live on.

Continuing to work after the official state retirement age may be relatively painless if you are an accountant or office worker. However, if you’re a manual labourer or car mechanic continuing to work into one’s seventies it may be an unwelcome struggle at a time when most people would be happy to put their tools down and take life easy.

Pension schemes are mostly linked to the stock market and they are failing or under-performing. Some future pensioners are looking bleak times ahead. For many it isn’t a matter of should one work into retirement but will be forced to work beyond their normal retirement age.

It is worth noting at this point that some people review the prospect of retirement with fear as they love their jobs or are worried they will feel disenfranchised after they give up their jobs and feel no longer useful or contributing to society.

Others might have their own businesses and are worried to pass the business on to their children or managers. Having one’s own business can be a way of life and not an easy thing to give up just because one has got older.  

On the reverse side of the coin others may feel they have worked long enough and it is time to give up work and take it easy. Some may find retirement a challenge and take up new hobbies and interests they did not have time for when in employment. Others may see retirement as a time to travel and spend with their grandchildren.

There is no right or wrong about retirement, it is down to one’s personal circumstances. Unfortunately for many people retirement may not be an option at and they may be forced to continue to work to survive.

It is certainly true if too many potential pensioners continue to work well into retirement it could alter employment trends and there may be less work available and might as a consequence prevent young people entering the workplace.