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Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work experiences that differ from what comprised a long career. No matter what drives a retiree to stay in, or re-enter, the workplace after beginning to draw Social Security benefits, it’s important to weigh the upside against the downside so that unpleasant surprises can be avoided. The “surprises,” of course, include the Social Security earnings test beneficiaries must face, as well as the potential for additional unplanned tax obligations and implications related to other retirement financial strategies that accompany the additional earnings. For more on this subject, check out a Yahoo!Finance post by Jacob Wade, which you can access here.