It’s often assumed that most people are counting the days until they can leave their jobs behind. But many seniors find that working helps them live a happy and fulfilling life and benefits them financially. On top of that, employers often value more mature employees for the unique strengths they bring to the workplace.
Suppose you’re deciding whether or not you want to work later in life. In that case, there are many factors to consider, including your health, financial status, other obligations, and what jobs are available to you. You should also consider how having a job as a senior can also help you live a happier, more vibrant life. Here are some of the benefits of working as a senior.
Supplemental Income
Even if your retirement income is enough to cover your expenses, you may enjoy having extra income to pad your budget. For some, the need is more serious. About 20% of people over 60 years old don’t think they will ever be able to afford to fully retire. Finding a job that is a good fit for your skills and needs is a great way to ease that anxiety, as well as give you extra income to enjoy.
Mental Clarity & Sharpness
Experts agree that two important ways to fend off cognitive decline and help your quality of life are maintaining social connections and learning new information. Starting a new job is an effective way to do both. The challenges of working can help you keep your mind sharp and engaged later in life.
Overall Enjoyment & Social Well-Being
The majority of seniors agree that the right job can help them feel younger. The challenges of work, combined with the camaraderie of your fellow employees, can be energizing. Forming new social connections can be difficult as you age, but working gives you an automatic source of people with whom you have something in common.
Health Insurance
Although people 65 years old and above are eligible for health care coverage through Medicare, that may not be enough for some. Employer-provided health insurance can cover expenses that Medicare doesn’t, such as certain prescriptions and specialty care.
Retirement Savings
Having a job later in life can add to your bottom line in more ways than one. The more years you work, and therefore contribute to Social Security, the more you’re entitled to receive in benefits. On top of that, the longer you can hold off on applying for Social Security, the higher your payment will eventually be. Your Social Security check will go up by 8% every year you work past retirement age until you are 70 years old.
Working later in life can also allow you to avoid dipping into your retirement savings and even continue to contribute. This dual benefit can help your funds go farther in your golden years.
Senior Community Service Employment Program(SCSEP)
If you live in Pennsylvania, are over 55 years old, and are interested in finding a job, we invite you to contact PA CareerLink® Delaware County for information about The Senior Community Service Employment Program (SCSEP). This Federal program provides employment training to people 55 and older who are unemployed and low-income.
SCSEP is designed to help older workers find jobs that are open to hiring seniors. We then help them to apply and be successful at these jobs.
Find the Best Jobs With Help From PA CareerLink Today!
One of the services that we provide at PA CareerLink® Delaware County is helping Pennsylvania seniors to find work that is satisfying and stable. Contact us today for more information about how we can support you today.
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