No matter what everyone say about when the right retirement age should be (in terms of when they should start receiving retirement benefits), majority would agree that there is no “official” retirement age anymore. Due to the changing times, retirement is looked at so differently than decades ago. Though some would still want to retire the traditional way – - – travel, pick a hobby, watch their grandchildren – - – In today’s modern world, retirement could mean very different things to each person.

Trend shows an increasing number or retirees joining the workforce, or at least staying on it. Many are now postponing their retirement, for different individual reasons. Even if you can stash away enough cash, do you want to completely leave the working world? Employment, too, has rewards beyond the financial.

For some older workers, of course, retirement of any sort is not an option because of financial necessity. Whether stuck in low-paying jobs with little or no retirement plans or through poor planning or other financial hardships, these folks need jobs just to survive.

But there are many more reasons why working is good for you. When one is working, one has a daily structure, one engages in more physical activity, including work providing financial resources, social context, opportunities to interact, including the learning of new skills. Working is also good for self-esteem and nurturing a sense of identity.

Whether you need money, want to stay mentally active or just like working and never plan to retire, there are benefits in wanting to work past the traditional retirement age of 65.

Financial Rewards. If you delay retirement, think of it as another year you won’t have to tap your nest egg and more time to rebuild a 401(k) or qualified retirement plan wrecked by the recent bear market. The extra money Terry makes pays for leisure activities, such as traveling. The couple haven’t had to tap their retirement savings yet, so it continues to accrue interest for their later years. They pay their bills with their Social Security income.

Health insurance. Of course, not every retiree rejoins the work world merely for creative fulfillment. Many stay on the job to take pressure off retirement savings and ease their financial and insurance worries. Remember that there’s the benefit of employer-provided insurance. Medicare doesn’t kick in until you’re 65. If you stop working earlier, you and a spouse or other dependents probably will have to find your own insurance.

Mental activity and Health Benefits. Working during what traditionally are seen as retirement years offers people a chance to continue their mental development, learn new things and contribute to society. A study claims that it is better to continue to work after retiring, as it helps in having fewer diseases and fewer functional limitations than those who quit work completely. With physical and mental health before retirement, including age, sex, education level, and total financial wealth were also taken into account by researchers, the study, which is published in the October issue of the Journal of Occupational Health Psychology shows, a part-time job or self-employment or ‘bridge employment’ is generally good for health after retiring officially.

Community. Many people say their workplace is like their family away from home. Working in retirement allows individuals to be around other people and feel like they are part of a community. Studies have also shown that senior citizens with strong social networks and a general feeling that they have an important role in this world generally live longer and are emotionally healthier than those who don’t.

Social security benefits. Because Social Security benefit payments are based on your top 35 earning years, you could rack up bigger monthly checks by staying on the job longer. And thanks to changes in the law, workers age 65 or older can claim full benefits even if they continue to work full-time.