The Pros and Cons of Working in Retirement

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Not long ago, the phrase “working in retirement” was an oxymoron, much like “bittersweet” or “act naturally.” After all, if you’re working, you’re by definition not retired.

But that was then. These days, working at least part-time while retired is increasingly common. According to one survey, 27% of pre-retirees said they planned to work part-time in retirement and among recent retirees, 19% work part-time.

Why so much working during retirement? More likely than not, because of money. As we explain in articles like “8 Reasons Your Parents Had an Easier Retirement Than You Will,” pensions are rapidly disappearing, replaced by much less reliable accounts like IRAs and 401(k)s. And as retiree income is falling, costs are rising.

On the plus side, however, while more retirees may be forced back into the workplace to make ends meet, there are more ways than ever to bring in a bit of extra bacon.

In short, in my parent’s generation, retirement meant not working at all. But for us boomers, retirement is morphing into something different. It’s not about doing nothing. Hopefully, it’s about being productive and making money, but by doing what you want to do, rather than what you have to do.

What kind of work will today’s (or tomorrow’s) retiree look forward to doing? Will it be easy to find pleasant, lucrative work? Should we start long before we retire?

In this week’s “Money” podcast, we’re going to find answers to these questions, as well as many more. Our guest is author and super-popular podcaster Paula Pant from Afford Anything. She’s smart, funny and knowledgeable — you’ll have a good time listening to her.

As usual, my co-host will be financial journalist Miranda Marquit, and we’re joined by our producer and sound effects guy, Aaron Freeman.

Sit back, relax and listen to this week’s “Money” podcast!

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Show notes

Want more information? Check out these resources:

• “7 Tips for Getting a Great Part-Time Job in Retirement“
• “10 Stats About Working in Retirement“
• “This Job Board Specializes in Remote Work and Flexible Gigs“
• “5 Reasons You Should Work for as Long as You Live“
• “15 Jobs for Retirees That Can Be Done From Home“
• “8 Signs That It’s Time for You to Unretire“
• AARP: Job Search Resources for 50+
• Subscribe to the Money Talks News newsletter
• Take our The Only Retirement Guide You’ll Ever Need course
• Take our Money Made Simple course

About me

I founded Money Talks News in 1991. I’m a CPA, and have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.