The newest trend in retirement doesn’t have anything to do with a beach or eccentric hobbies — it’s about getting back into the workforce.
More than half of workers nearing retirement in the next five years plan on returning to work at some point, according to a survey by Home Instead. The phenomenon, referred to as “unretirement,” is redefining how Americans view their senior years. Seniors aren’t heading back to work just for the paycheck — they’re also returning to the workforce to feel fulfilled, give back to the community and keep busy.
But does heading back to work mean giving up Social Security benefits? The answer depends on how old a person is and what their current benefits are.
Here are four key things “unretirees” should consider when it comes to their Social Security benefits before switching back to being a worker.
1. A portion of your Social Security income may be withheld
More than half of workers nearing retirement in the next five years plan on returning to work at some point, according to a survey by Home Instead. The phenomenon, referred to as “unretirement,” is redefining how Americans view their senior years. Seniors aren’t heading back to work just for the paycheck — they’re also returning to the workforce to feel fulfilled, give back to the community and keep busy.
But does heading back to work mean giving up Social Security benefits? The answer depends on how old a person is and what their current benefits are.
Here are four key things “unretirees” should consider when it comes to their Social Security benefits before switching back to being a worker.
1. A portion of your Social Security income may be withheld
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