Recently, I had a conversation with a friend's father, who's in his late 60s and has been retired for a handful of years. I was asking him how retirement was going, and his response was pretty lukewarm.
While he was happy to not have to go into work every day, he admitted that he wasn't thrilled with his current routine. And he also said he was toying with the idea of going back to work part-time to have more to do with his days.
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I don't think his experience is unique. And you may want to consider coming out of retirement partially or fully if any of these signs apply to you.
1. You're having a hard time making ends meet
The Federal Reserve puts median retirement savings for Americans 65 and older at $200,000 as of 2022. Even when combined with Social Security, that's not a lot of money to live on.
If you don't have much in the way of long-term savings and you're having a hard time making ends meet because of that, you may want to consider ending your retirement and returning to the workforce. While that might be an adjustment, working a few more years could allow you to boost your savings so you can then enjoy a more comfortable retirement the second time around.
You also don't necessarily need to commit to working full-time or in your former field. If you didn't like your line of work, take the opportunity to try something new.
2. You're bored almost every day
The main issue my friend's father was having with retirement was boredom. He's not broke, and he has the funds to go out and do things to a reasonable degree. But it's not enough stimulation for him.
If you're finding yourself bored day in, day out, that's reason enough to consider ditching retirement and going back to work. Being perpetually bored isn't a mentally healthy way to live.
But again, this is a situation where you don't have to go all-in on work. You could look for a part-time job to anchor your weeks, or start your own business so you have work to keep busy with, but on your own schedule.
3. You're too isolated for your own good
People who are used to office life often struggle when they retire. If you don't have a large social network, you may find yourself lonely and isolated in retirement, which is far from good for your emotional health.
If that's the case, you may want to consider going back to work, and specifically working a job that gives you plenty of interaction with people. That said, you should also take steps to broaden your circle if possible. You may find that you're able to meet more people by volunteering in your area or looking into activities at your local community center.
There's a big misconception that if you decide to come out of retirement, you've failed at it. There's nothing wrong with making a change at any stage of life if you feel you could improve your circumstances. So if any of these signs apply to you, don't hesitate to see what returning to work might do for your finances, health, and outlook.
