If you work after retirement, you may be able to save more money in your 401(k) or other accounts so it continues to earn interest. However, your Social Security benefits may decrease if you earn more than the $45,350 limit up to your full retirement age.
You can start collecting Social Security benefits at age 62, but your benefits increase if you put them off until your full retirement age. This age depends on when you were born. The Social Security Administration offers a chart to help you determine your full retirement age and calculate benefits before that.
Basically, it’s up to each individual to weigh the pros and cons of retirement businesses or jobs based on their own situation. If you could benefit from preserving or adding to your retirement accounts for several more years, it’s likely worthwhile. If you care more about maximizing your benefits, a traditional job may not be worthwhile.
Of course, there are other benefits to consider as well. If you enjoy working, it’s probably more worthwhile for you to do it. If you’d rather focus on other hobbies and don’t need the money, working or starting a business may not be for you.