John, good to see you. Today we are talking about the five benefits of working in retirement. Retirees may not be ready to stop working. According to the Bureau of Labor Statistics, just over 30% of 65 to 74-year-olds are employed. That's up from 25% back in 2021. So as boomers age more are viewing retirement as another opportunity instead of an ending. So let's start with reason number one to keep working and that is: There are obvious benefits to your mental health.

Yeah, a lot of people didn't think about, don’t think about this, I didn't think about it, until I got my RMA designation, in retirement planning.

A lot of retirees struggle with mental health out there. And one of the biggest reasons why is because they lose their purpose or their identity from their career, right? They were an important person, they had important work to do and now they're just retired. So, you know, we talked about this in our podcast, we had Larry Jacobson, an expert come in and talk on this. You know if you're kind of feeling that and we've helped clients through this, and we tell them listen, “find something that you're passionate about, that you have purpose for, and either volunteer and do it”, or if it pays you, even better because you're getting paid to do something you love. But you want that purpose and you know, you want that fulfillment in life.

Of course. Alright, reason number two, there are some physical benefits if you're working.

Yeah. So Erin, what does Newton's laws of physics say?

You’re giving me a physics quiz now, an object in motion tends to stay in motion?

Yeah. So an object in motion tends to stay in motion. That is extremely relevant and important to our physical health too. Many health experts will tell you that as soon as you become sedentary, your health starts to deteriorate. And so we want, we encourage our clients to stay physical, stay active, and what better place to do it than volunteering or having a job that you're passionate about that gets you out and moving.

Exactly. Number three, there are obvious financial benefits if you’re still working.

Yeah, and you know, this gives people a lot of flexibility. Because number one is getting paid to do something you love, that can give you an extra 1,000 or maybe even $2,000 a month, which means you don't have to withdraw that money from your assets. It also means you could delay your social security benefits. This is an important topic, right? If you're not at full retirement age, don't work and claim social security at the same time. You need to understand that there’s some limitations to that. And last but not least another huge financial benefit, especially for those people under 65, you know, if they're offering you health care, you know that's a big financial money saver, and health care is extremely expensive for early retirees. So you can take advantage of not only getting paid but potentially get some free health care.

Yeah, really good point. Of course, this one is, they're all tied to each other right, but there are some emotional benefits as well.

Yeah, yeah. You know, and you know, people are meant to be social. So, you're getting out there you're doing something you're passionate about. You're doing something you love, whether it's volunteer work, or you're getting paid and you know, you're obviously interacting with like-minded people. And that has a great social impact on you, right? You're satisfying that fulfillment, that purpose, and you're interacting with other people with like, like-minds.

Yeah, sense of purpose, and that leads us perfectly into reason number five: The social benefits of working.

Yeah, and you know, the sad truth about retirement is you lose friends. Especially here in California. A lot of retirees move and you know, now, you have distance between friendships. And unfortunately, you know, the thing that no one likes to talk about, we're going to lose friends that are going to pass. So, you know, again, going back to the last point, if you're doing something you love, and you're with other people who have that like-minded interests, you know, you're getting out and you're meeting new people and, and having larger circles of friends.

And, John, I know you specialize in helping people reach their work-optional retirement. That's what's great about it. If somebody wants to talk through whether they should or whether it’d be worthwhile for them to work in retirement, what's the best way to reach you?

Yeah, well, you can always visit our website www.gosecurus.com. We have a ton of resources on this, we have a couple of podcasts relating to this exact video. And while you're on the website, you can visit the Contact Us Tab and from there, you can actually schedule a 15-minute phone consultation, or a 60-minute complimentary Vision and Clarity Consultation, or if you'd like to do things the old-fashioned way, give us a call at the office, 858-935-6210. Ask for Emily, and she will get you on my calendar.

Alright great, John, thank you so much.

Thank you, Erin.