Kapok Aging and Caregiver Resources: Working in Older Age – The Benefits and Drawbacks
This article is excerpted with permission from Kapok Aging and Caregiver Resources. You can listen to my conversation with Angelica here. – Mark/Editor
By Angelica Herrera Venson,DrPH, MPH
A question that often weighs heavily on the minds of a growing number of seniors is whether they need work in their old age. For some people, retirement cannot come soon enough, especially if they have a stressful or physical job. But, for others, retirement may be less attractive.
So, should you continue to work as you age?
The answer strongly depends on who you are and what you are looking for. With that in mind, this post is going to show you the benefits and drawbacks of working in older age, along with key considerations that you need to make.
Benefits of Continuing to Work
The most obvious benefit of working in older age is financial, especially when you’re retirement savings are meager and Social Security is modest.
So, if you continue to work full-time, rather than retire, you can continue to augment your Social Security. This means that when you do use social security, you will have to stretch it out over fewer years. Doing so makes things easier financially and much less stressful.
For that matter, many people already choose to push out retirement because they feel they cannot afford to retire earlier. This is true in the United States and also in many other countries.
Even if you’re not planning on working full time, continuing to work part-time can bring in enough extra cash and to stay on top of medical bills and utilities. In turn, this can lead to less stress and more flexibility.
For example, extra money may mean that you can go out to dinner more often, go to the theater or buy more presents for the grandkids.
But, the benefits of continuing to work aren’t just financial. For that matter, finances aren’t always the driving factor in why people continue to work or why they reenter the workforce.
For many, working offers a sense of independence. It means that they’re not relying on other people and are still able to contribute to society.
Working is also an important form of social connection. As a result, it can significantly reduce isolation and in doing so may also help promote good mental health.
Indeed, the amount of social interaction that you get at work is higher than most people realize. This is somewhat job dependent but in most cases, you do get a considerable amount of social connection this way.
Now, there are other options for social connection. For example, many seniors choose to join groups or clubs based on their interests or activities. Likewise, many senior centers offer programs that provide social interaction.
But, there is still something enjoyable about socializing via work. If nothing else, this may offer seniors the chance to connect with a wider range of individuals and the context is also very different.