The Business of Delaying Your Retirement


If you run your own home Internet business and you’re not quite ready to call it quits, then you may want to delay your retirement.

Besides, there’s nothing wrong with working a few extra years before beginning the rest and relaxation stage of life.

Here are a few reasons why you might want to delay your retirement:

Later Retirements are on the Rise

Many Americans, especially those who run their own business, are putting off retirement longer. Whether your home Internet business is thriving or you want more time to save, you aren’t alone in delaying your retirement.

In fact, according to a recent report from CBS Money Watch, 82% of U.S. workers age 50 and older say they are likely to keep working past retirement age.

Additionally, 42% of U.S. workers are waiting to claim social security until well after the retirement age of 62.

With the numbers above in mind, you’re probably wondering why so many Americans are postponing retirement.

Pre and Post Retirement Savings

Whether your home Internet business is at the top of its game or not, it’s always a good idea to save as much money as possible before retiring.

In the article “When to Retire? 5 Reasons to Delay Retirement,” saving money is at the top of the list. It’s important to know there are multiple savings benefits of delaying retirement.

For starters, working longer gives you more time to save before retirement. This translates to having more savings during retirement as well as an overall shorter retirement period.

In other words, delaying retirement benefits both your pre and post retirement finances.

Staying Sharp

Retiring later in life also helps keep soon-to-be retirees sharp and active, which is another reason why delayed retirement is a growing trend.

When the work isn’t physically demanding, such as your home internet business, then working past retirement actually helps keep you mentally sharp and goal oriented.

This can help with your long-term mental health and improve your quality of life. Not only that – whether you run a home Internet business or not – working past retirement keeps you on the move; something beneficial to your physical health as well.

Delayed Retirement Credits

If you hold off on your retirement, you could be eligible for delayed retirement credits from the Social Security Administration.

The full retirement age for you depends on your birth year; you are eligible for social security credits until you decide to retire or until you reach the age of 70. Delaying increases your social security benefits with each year you put off retirement.

Peace of Mind

At the end of the day, retirement is all about rest and relaxation.

If retiring at the age of 62 makes you uneasy about your finances or you’re simply not ready to commit, then it might not be worth it.

Postponing your retirement could result in more savings and more time to prepare, which will improve your overall peace of mind.

If retirement is in the near future and you aren’t ready, don’t be afraid to keep your home business going a little while longer.

Photo credit: Image courtesy of Stuart Miles at

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including budgeting and retirement.

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