Unfortunately, a lot of pensioners who don’t want to continue working need to do so for financial reasons. Most people employed post-retirement say financial issues are the reason they continue to be in the employment. The pension they receive is not enough to cover their living expenses, let a lone trying to do more fun stuff they have been hoping to do when they retire and have more time.
Some of the financial reasons which make people work during retirement:
Their Savings Aren’t Substantial
Saving for retirement can be a daunting task, and many people merely have nothing set aside. If you have reached your retirement age without any significant savings, continuing to work or getting another position may be the only choice you have.
Did not have a pension fund
The volatility of the stock marketplace can harmfully affect many individuals depending on investments to gain or retain value. If you have lost finances due to the poor performance of stocks or the slope in the housing market, you may be put in a pretty bad financial standing. Thus, necessitating for a person to work during their retirement days.
Living expenses are way more than expected
Not a home owner
Lack of financial education in a education system are failing us. Most people don’t now where to start when it come to thinking about retirement fund, what questions to ask. Due to lack of this education many think its very complicated and very risky, and don’t do anything about it. This education does not need to be complicated and difficult. No matter what your age you can understand the principles and the steps that you can take to build a better future for yourself and your family. Its more easy than you think and you can pass on the knowledge to your younger generation so they can build a strong foundation