Guest Posts

Benefits of delaying your retirement


Retirement is something that most of us will want to look forward to and when we are approaching the time when we are about to retire, the thought of delaying it for a few more years for most of us will have very little appeal. However an increasing number of seniors are finding they have little choice in the matter because staying on at work past retirement age is unavoidable due to their own financial circumstances. Whilst this is not something that most individuals will enjoy doing, there are tangible benefits of working later on in life…


Lets start with the most obvious one; you will have more money when in retirement if you retire later. Working later helps you in two ways, firstly you are still earning money which means you can build up a larger pension fund. Secondly you are not drawing an income from this money whilst still in work, meaning that when you do eventually retire, you will have more to live off each year you’re in retirement. This is the primary reason why so many seniors are having to work later than they had planned. You can still enjoy some financial benefits even if you are still working, for example in the UK they offer free bus travel to anyone aged over 65. Also you can get enjoy discounts at a number of retail outlets who offer money off to seniors.


Working in general does help you to keep you healthy and active (despite how it may feel at the time).  Of course, this varies from job to job but overall if you are getting up in the morning, commuting to work, conversing with colleagues and generally staying alert this will help you to keep active. Working ensures you have daily interaction which cannot always be guaranteed in retirement, especially if you live on your own.


If you work later you can increase the contributions being made to your pension fund. Not only will you have more money to retire with, you will also be able to get a higher income if you buy an annuity, which will increase in value the older you are.

The future

You cannot be sure what will happen in the future. Once retired of course, it is very difficult to get back into the jobs market should you find you need additional income. The later you work, the more money you can save for any unexpected changes in your circumstances. Also remember that life expectancy is impossible to predict so you will not know in advance how long your retirement will last. Although the concept is not appealing, the truth is that working later gives you the best chance of being more financially secure in retirement.

This article came from Simon who writes for pension website Annuity City.

About the author

Praveen Rajarao

Praveen Rajarao is an Entrepreneur and in his spare time blogs on his website – and His topics range from blogging to technology to affiliate programs and making money online and how-to guides. Daily Morning Coffee is also accepting Guest Posts from Professional Bloggers at this time, take a look at “Write For DMC” page for more details on the same.


Click here to post a comment

CommentLuv badge

This blog uses premium CommentLuv which allows you to put your keywords with your name if you have had 3 approved comments. Use your real name and then @ your keywords (maximum of 2)
  • Jeez, who wants to really retire?
    Even the word itself conjures up the feeling of being old and ending a vibrant life. I’m 54 years young and I intend to maybe take it a bit easier when I’m 65 or so but certainly won’t consider packing up the bags to head off to the Bowls Club 🙂

    Keep alive and keep living, I say.
    Martin Cooney recently posted…Albert Einstein Was A Relationship CounsellorMy Profile

  • 1)Do you think you’ll have enough money for a clomortabfe retirement?Does not apply. I love my career as an artist and hope to die with the tools of the trade in my hands.2) Do you plan on receiving the social security benefits that have been promised to you?Sure, I’m a boomer. I plan to tap in at 62. But my intent is to pass it along every month to someone in one of the following generations. There’s some delicious irony there.3) What % of your income do you save today for retirement?When I work my savings rate is usually around 40-50%. But let me say that life so far has been like a long summer vacation. I have taken as much as a year to enjoy myself and recharge my batteries several times in my adult life. I rarely reject an offer to go river rafting or fishing (which are very low cost and high enjoyment activities). On the financial side, I sold my suburban home four years ago and rent a small farm now. The cash is well invested (I hope) since it has more than doubled in that time. To buy in my locale would cost me at least triple what I now pay in rent. 4) Where would you like to retire?I’m an avid, no, really I’m a compulsive food gardener and tree grower. Soil, water, four real seasons and open spaces blow my skirt up. I’ll stay in the USA and take my chances with the coming times since my tribe is here. 5) How old are you, and what age do you plan on retiring?The answer to part one is that I’m just about to turn 61. For part B see the above.A little rambling: The real goal is to have a good life. Keep it simple and full of heart. Be joyful doing vigorous work. Eat healthy food not poisonous crap. My key to having enough money has been to tighten down the outflow spigot rather than exert myself in the mind numbing quest for big bucks. Oh yeah, exchange goods and services with others because the return is much greater (though a bit difficult to quantify). You have all seen pictures of some ancient and very wrinkled peasant in bib overalls holding a bunch of grapes with a twinkle in his eye and a wise smile on his face. This is not a bad goal. Finally, it is better to die deservedly well loved than rich.

Like DMC on FB

Get your Keurig Starter Kit Today! 50% off coffee makers +25% off beverages + free shipping, Shop Now!

Recent Comments