Erickson Tribune

Seabrook

UPDATED: Friday, December 01, 2006

To work or not to work?

Posted on Monday, November 27, 2006
 

What to consider when making the decision

By Julia Boyle
THE ERICKSON TRIBUNE

“I retired in 1977 and have worked ever since,” Orland Johnson says in what seems like an oxymoron. But it’s not.

Two months after retiring as an executive with the Boy Scouts of America, he began his seven-year employment with a savings and loan company.

Then, Johnson and his wife began volunteering at their daughter’s hearing aid center in Eatontown, but even volunteering was not enough. “I became so interested in the business that I got my hearing aid dispenser’s license and began working at the center,” he says.

Today, Johnson still drives from his Seabrook home to the office every weekday and works from 10 a.m. to 4:30 p.m. “I get bored easily, so this is the perfect outlet for me,” he says.

Staying active and other pros
Johnson is among a growing group of Americans choosing to re-enter the work force because they desire to stay active. But while the majority of people in a recent AARP survey said their definition of retirement includes some form of work, that word’s definition differs for everyone.

At Seabrook, where people participate in the community’s many events, clubs, and programs, volunteering is often defined as work.

Yet, some people prefer the extra income of a job over volunteering. In fact, when AARP asked 2,001 full- or part-time workers between ages 50 and 70 why they do it, the leading response was financial benefits.

Other pros of delaying full retirement include possible health insurance coverage, sense of community, mental activity, and bigger Social Security benefit payments.

Consider the cons
But with pros come cons, and working in retirement has its share.

Age discrimination is one of the most discouraging factors for most people, as claims have risen 40% from 1999 to 2002. Combat this barrier by keeping your skills fresh and up-to-date.


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Your pension is safe if you had chosen a lump-sum payment when you left your job. If you did not choose lump-sum, check with your former employer to avoid penalties when trying to access your fund.

Another shot to your bank account comes from a greater percentage of Social Security benefits being subject to income taxes. So while you may receive larger benefit payments, expect up to 85% of them to be taxed.

Even health coverage can be iffy. Employers may provide group health insurance, but you may have to work longer hours to qualify for it.

Working longer hours also takes away from your free time. And while some people aren’t ready for the leisurely lifestyle, many think of retirement as time to spend with friends and family, travel, or pursue interests they never had time for.

Open options
Whether you are a busy bee who identifies with a work environment or have been looking forward to the traditional retirement lifestyle for several years, it’s important to consider the advantages and disadvantages of both choices.

“If people want to work, it’s great that they have that option and can live here, too,” says Madeline Hogan, Seabrook’s director of marketing.

The right resources make working more of a choice for some people than others. Fortunately for Johnson, living at Seabrook gives him the option to fully retire should he ever want or need to do so.

The resources Seabrook provides all people who live there include Erickson Advantage®, the primary Medicare health insurance plan administered on campus; over 150 clubs, events, and activities; and educational courses to engage the mind.

For people like Johnson, the maintenance-free lifestyle gives them more time for leisure when they are not working. “I don’t have much time for activities, but I go to the Fitness Center here for about 40 minutes, three times a week,” Johnson says.

“It’s the perfect lifestyle for me because I don’t have to cook or do anything like that,” he says.



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