Working into retirement is becoming a new phase in the career lifecycle according to the Families and Work Institute. For some, working past full retirement age is a necessity, for others it allows them to do the extras such as travel, keep up with hobbies or enjoy special activities. Rumors abound about losing your Social Security benefits if you work. “Starting with the month you reach full retirement age, we will not reduce your benefits, no matter how much you earn,” explains the Social Security Administration.
And not all who are receiving early retirement lose benefits, many receive earned income and their current benefit. According to the U.S. Department of Labor jobs report almost 19 percent of people 65 or older were working at least part-time in 2017. “As a senior citizen, working into retirement gives me income for my bills, home repairs and for things I enjoy such as quilting and travel”, explains Suzi Kay of Home Instead Senior Care.
For caring individuals, new careers that offer flexibility and an opportunity to do good for others are a perfect match with needed extra income. Unlike some sectors of the labor force, the field of direct care welcomes older workers for their reliability, life experience, and ability to relate to their older clients. Part-time employment as a Home Instead Senior Care CAREGiver℠ will boost your income and provide a valuable service. Working 15 to 20 hours a week, providing companionship, meal preparation, and other support may allow you to keep all of your current retirement benefits even if you began taking Social Security before full retirement age.
The Social Security Administration is available by phone at 800-772- 1213 or online at Social Security Administration to verify personal benefits, full retirement age and answer questions about working in retirement.
If you would like more information about this topic, please contact Suzi Kay at 440-257-5800 or email at
suzi.kay@homeinstead.com.
