Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

5 Compelling Reasons to Consider Retiring Later Than Planned

October 6, 2020 · Retirement Life

You will be richer

It might sound ridiculous, but you could boost your retirement income by as much as if you had saved an extra 1% a year for 30 years just by retiring three to six months later than your expected retirement date.  At least that’s what the authors of “The Power of Working Longer,” of the National Bureau of Economic Research, concluded in their study. Where does the extra money come from? According to the researchers, the extra working months will increase your Social Security benefits, boosting your prospects for a secure financial future in retirement.

Continuing to work will also help you have longer access to annual matching employer contributions in your 401(k) plan. More than that, the longer you work, the longer you receive your salary, which can only be a good thing in the long run.

Obviously, you could sabotage everything by recklessly spending all the extra money you earn. To make sure you don’t make this mistake,  check out 15 Reckless Things You Should Never Do with Your Money.

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A warm mid-century gouache illustration of an older couple happily planning a trip to Europe with a colorful map on their kitchen table. The Cheapest Months to Fly to the Most Popular European Destinations
  • An older woman smiling and laughing while talking on her phone at a sunlit kitchen table with a mug of tea. Telephone Reassurance Programs: Getting Paid to Chat With Seniors
  • An older woman at her sunlit dining table organizing paperwork and folders. Supplemental Security Income: Do You Qualify for Extra Help?
  • An older man happily restoring a wooden chair in his sunlit home workshop, symbolizing flexible and rewarding part-time work. 8 Flexible Part-Time Work That Won't Affect Your SS Benefits
  • A retired woman sits thoughtfully at her sunlit kitchen table, reviewing papers and bills with a warm mug of tea nearby. 16 Things Retirees Often Overpay For Without Realizing
  • An older couple stands on their porch during sunset, looking at a moving truck parked in their driveway. Retirees Regret Choosing These 5 States (Based on Cost and Lifestyle)
  • An older couple sitting at a wooden kitchen table reviewing organized tax documents in warm morning light, representing tax planning. 5 Tax Breaks You Can Claim Without Itemizing in 2026
  • An editorial illustration of a retired couple rolling back a rug to reveal hidden wealth and resources beneath their floorboards. The Retirement Benefits Beyond Traditional Checks - Find Them Here!
  • An editorial gouache illustration showing a stylized Social Security card sliced at the top, revealing gold coins inside. Could Social Security Taxes Change Again?
  • An editorial gouache illustration showing stylized hands adjusting a large monthly benefit check with a ruler and compass. The Benefit Rule That Could Affect Your Monthly Check

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

A retired couple stands in their empty, sunlit living room next to a moving box, looking out at a sold sign in the yard.

8 Reasons Retirees Regret Moving Too Close To Family

Discover the hidden financial, social, and emotional costs of relocating to be near adult children…

Read More →
A panoramic watercolor illustration showing a transition from green mountains to red deserts and blue lakes.

11 Nature-Filled Destinations Perfect After 60

Discover 11 beautiful, nature-filled retirement destinations that perfectly balance scenic outdoor living with healthcare access…

Read More →

Be Careful! 5 Dangerous Scams Targeting Retirees

Instagram scams The internet is a scary place filled with even scarier people. As much…

Read More →

Did You Know About These 11 Medicare Essential Tips?

Wrapped in a cozy blanket, a smiling woman enjoys her porch with reliable Medigap protection.…

Read More →

Top 13 Retirement Destinations of 2020

1. Montana The monthly costs of healthcare in Montana are $321 while taxes can range…

Read More →

17 Retirement Lies We Still Tell Ourselves

I’ll be able to retire when I reach retirement age We tell ourselves this lie…

Read More →
A retired couple in their 60s sits on a sunlit terrace in Portugal overlooking the ocean, looking at a map and tablet together.

The Truth About Retiring Abroad: What Americans 60+ Really Experience

Discover the financial, legal, and healthcare realities of retiring abroad so you can confidently plan…

Read More →

6 Golden Rules to Generate Passive Income from Real Estate Investments

Pick your strategy Who wouldn’t like to bring in a little extra money on the…

Read More →

Here’s the No. 1 Reason Seniors Work Well into Retirement

A recent poll has looked at the retirement situation in America, bringing to light some…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.