Retirees often find financial and emotional benefits in part-time work after retirement. Continuing to work can supplement Social Security benefits, especially if savings are limited. The Social Security Administration calculates benefits based on the highest 35 years of earnings, and later wages can impact monthly payments. Beyond finances, working can alleviate boredom and enhance social interaction, providing retirees with meaningful engagement in their daily lives.
Your Social Security benefits are calculated based on the amount of income you earn during your 35 highest-paid years of work.
Wages earned later in life could impact Social Security benefits, but that depends on your total income history.
If you're retiring mostly on Social Security and don't have a lot of savings, you might need a paycheck from a part-time job to supplement your benefits.
Working offers social and emotional benefits; it can alleviate boredom and provides an opportunity for interaction.
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