The Benefits of Delaying Retirement Beyond 65
For many people, retirement at 65 has long been the goal. But what if continuing to work past 65 could actually bring some surprising advantages? For residents in senior living Lakewood , choosing to delay retirement can provide both financial and emotional benefits, giving life a fulfilling new rhythm. Why Consider Delaying Retirement? Retiring later isn’t just about earning a paycheck for a little longer—it’s about finding purpose, staying active, and reaping benefits you may not have considered before. 3 Financial Perks of Delaying Retirement 1. Boost Your Social Security Benefits If you delay collecting Social Security past full retirement age (typically 66 or 67), your benefits increase by about 8% per year until you reach 70. That’s a significant bump in your monthly income! 2. Longer Savings Growth Working a few extra years allows your retirement savings to grow, especially if you’re still contributing to accounts like a 401(k) or IRA. 3. Employer Health Insurance Staying employ...