The benefits of working beyond retirement years

A study conducted by Bankrate, an American-based company that helps you find and compare rates on financial products, reveals that 70% of Americans plan to work as long as they can. In Australia, an FSC-CBA Older Australians Report in 2015 revealed that around 71% of workers over the age of 50 felt optimistic about staying in the workforce. This is a trend we anticipate seeing in South Africa, and therefore have taken a look at some of the perks of working a little over your retirement age.

Maintaining independence

Independence at Shoreline Sibaya is vital and it is proved that staying within the workforce beyond your retirement age can assist in maintaining your independence, financially and emotionally.

Mentally and socially active

Shoreline Sibaya provides an environment where residents can live active lifestyles, however being around people within a work environment helps boost your health, mentally and socially. It assists in elevating depression and loneliness, as well as maintains your cognitive ability. The workforce encourages retirees to stay up-to-date with technology and ultimately provides a purpose for individuals. Retirees are highly skilled and by remaining active in work, allows them to share their wisdom, valuable experience and skills they have honed in on over the years.

Create a schedule that suits you

When working beyond your retirement years, you can easily reduce the amount of hours you are working and create a more manageable schedule. You have the option of working half day, occasionally throughout the week or freelance. Some retirees might want to start a new venture and make their hobbies a business or offer up their skills to a broader network and become an independent contractor. The options are endless and at the end of the day, you are in control.

Continued savings

It is estimated that only 6% of the South African population will be able to comfortably retire. By working beyond your retirement years, you will assist in generating more savings for when you are fully retired or merely make each month more comfortable.

The location of Shoreline Sibaya works in your favour, whether or not you choose to continue to work. You are not only able to work from home, if you need to get to your work’s office, you will be able to gain quick access to the major highways and get to work quickly and effortlessly. You will live close enough to KZN’s economic hub, Umhlanga, as well as be in the middle of Sibaya Coastal Precinct where you will find commercial nodes all around.