At some point, most people plan to retire. However, some people reach retirement and find that they are not ready to stop working. This can be due to improper planning, but some people desire to keep working because they are passionate about their fields or because of other aspects of retirement. The following are a few reasons to keep working instead of retiring.
Protect your "nest egg."
You likely have some money invested in your retirement. Some people start saving for retirement later in life, and this can impact the amount of money they have available when they are ready to retire. Perhaps you are concerned about using up the money you have saved. One way to avoid using the money or only using portions of it is to continue working.
Pursue work in a field other than your full-time career path.
Perhaps you have a passion that you have always wanted to pursue. It may not be related to the full-time work you have done most of your life, but it may have the potential to earn you an extra income. Some people decide to pursue these passions and "retire" from their traditional jobs. Others decide to pursue careers that are related to the jobs they have done for the majority of their lives. For example, you might decide to retire from your corporate job and become an independent consultant in the field. This will allow you to earn an income during retirement without having to worry about the restrictive lifestyle and work demands of working in a corporate environment.
Potential to add more to your retirement savings and investment portfolio.
Working beyond retirement is an opportunity for people who are concerned about whether or not they have enough money saved to continue to add to their existing retirement savings. It may be necessary to use a more aggressive savings approach. For example, you may need to consider investing in an option such as crowdfunding to "snowball" some of the money you are earning by working longer.
A retirement planning professional is a good resource to use if you have considered working beyond retirement age. They can offer you tax-saving advice. They can also help you to determine the best approach to working. For example, you might decide that part-time employment is a better option than full-time work because it will allow you to have more free time to enjoy your retirement and earn extra income.