5 Benefits of Working in Retirement for MASSMutual Employees

In the past, retirement has been depicted as a conclusion, a grand departure from the workforce. However, the regulations are changing. The labor force participation rate for those aged 65 to 74 is projected to reach 32% by 2022, up from 20% in 2002. (1) As the Baby Boomer generation ages, an increasing number of individuals view retirement as an opportunity to experience the benefits of work in a novel manner. Following are some of the benefits that MASSMutual retirees can look forward to.

1. Mental Benefits

Recent research has shown that working longer can be linked to better cognitive function in old age. According to a study by the National Bureau of Economic Research, individuals who delayed retirement by one year experienced an increase in cognitive performance equivalent to two and a half months of aging.

Continuing to learn new skills during your MASSMutual retirement can help you maintain mental agility. Engaging in productive activity helps create 'mental muscle,' which can reduce the risk of developing dementia and Alzheimer's (2) and delay the onset of senescence.

2.. Physical Benefits

For sustained health, it is essential for MASSMutual retirees to maintain an active lifestyle. Whether you choose to work full-time or volunteer a few days per week, engaging in some form of work will keep your body active and provide opportunities to maintain balance, strength, and health.

3. Financial Benefits

In addition to the apparent additional income, working during your MASSMutual retirement may enable you to delay Social Security benefits. Your Social Security benefits can grow by an average of 8 percent per year for every year you delay receiving them. (3) Finding a successful strategy can be very profitable.

4. Emotional Benefits

According to studies, a sense of purpose increases both lifespan and quality of life.4 During your years or retirement from MASSMutual, working on a project you care about, starting a new business, or mentoring others can prevent depression and provide a healthy sense of fulfillment and direction.

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5. Social Benefits

One of the risks associated with retirement is an increase in social isolation, which has been compared to smoking nearly a carton of cigarettes per day. (5) Working with others mitigates this risk, allowing you to develop relationships and engage in meaningful interactions.

Conclusion

Retirement can be seen as a 'half-time break' during a long and fulfilling career. Just like in sports, it's a chance to rest, recover, and reassess your strategies. However, staying on the bench for too long can lead to a loss of skills and stamina. Continuing to engage in work or productive activities during retirement is like getting back on the field for the second half of the game. It keeps your mind and body in shape, allows you to develop new skills, and provides a sense of purpose and fulfillment. So, if you're looking to make the most of your retirement, consider staying in the game!

Sources

1. AARP.org, February/March 2015