Author: Dan Rafter / Source: Wise Bread
You imagined retirement as a long-awaited reward for all those years of work. Maybe you pictured cruises around the globe, lazy days playing tennis, or plenty of time to spend with your grandchildren. But now that it’s finally here, you’re not so happy.
Maybe you’re bored.
Maybe you’re restless. Maybe you’re having trouble paying the bills. Whatever the issue, your retirement isn’t the happy time you expected. The solution? You might need to come out of retirement, at least part-time.Retirement doesn’t work for everyone, at least not the first time around. But you might find happiness, a renewed sense of purpose, or financial relief by coming out of retirement and jumping back into the world of work again. Here are some signs that you need to end your retirement and start working again. (See also: 6 Great Retirement Jobs)
1. You’re struggling to pay the bills
The most important reason to return to work is if you’re struggling to pay your bills each month. Maybe you didn’t save enough money during your first go-round in the working world. Maybe your expenses, such as health care, are higher than you expected. Whatever the reason, if your monthly income is barely enough to pay your bills, it might be time to find a job, even a part-time one, to help cover the costs.
If you’re facing this challenge, know that you’re not alone. According to a 2017 report from the Schwartz Center for Economic Policy Analysis, 35 percent of workers from the ages of 55 to 64 didn’t have any retirement savings in an IRA or 401(k)-type plan.
The median account balance of workers nearing retirement was just $15,000.2. Your retirement savings are dwindling
Maybe you did save for retirement. But now that you’re not working, you’re finding that those retirement savings are disappearing much faster than you expected.
It could be that you’ve spent more than you expected during your after-work years, or…
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