What to Consider Before Working in Retirement
However, there are important considerations before deciding to work in retirement.
Why do many continue to work in retirement?
- Financial necessity - Some individuals may need additional income to support their lifestyle or cover unexpected expenses.
- Purpose and engagement - Work often provides a sense of identity, purpose, and engagement. In retirement, continuing to work can help maintain these feelings and promote overall well-being.
- Remaining socially connected - Workplaces often offer a social network and opportunities for interaction that some retirees might miss.
- Pursuing passions - Retirement can be an opportunity to explore work that aligns more closely with personal interests, often in part-time or freelance roles.
- Earnings test - If one is below full retirement age and earns more than certain yearly limits, the Social Security Earnings Test may reduce benefits.
- Tax implications - If one’s combined income – which includes adjusted gross income (AGI), nontaxable interest, and half of one’s Social Security benefits – crosses a certain threshold, taxes may be due on a portion of Social Security benefits.
- Potential increase in benefits - Although working may initially reduce benefits, it can help increase benefits in the long run if it replaces a year of lower earnings in one's work history.
Remaining active – both physically and mentally – is crucial in retirement. Here's how continuing to work does just that:
Physical activity - While physical activity largely depends on the specifics of the job, work can keep retirees physically active, serving as a form of exercise.
Mental engagement - Work can provide cognitive challenges that stimulate the mind, potentially warding off cognitive decline.
Social interaction - Regular work often involves interaction with colleagues and clients, providing valuable social links and preventing isolation.
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While planning for singles presents certain challenges, it also offers opportunities for autonomy and personalized management. Through effective budgeting, careful planning, and thorough estate planning, singles can navigate their future with confidence. As with any financial decision, it's beneficial to seek guidance from a financial professional to determine an appropriate path forward.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
This material was prepared by Fresh Finance for the Investment Service Center’s use.
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Equity analysts usually start the year grumpy from the holiday hangover. Over the past 15 years, they’ve revised their EPS estimates down by an average of 2% between January and April. But, as this week’s chart shows, 2026 is a different story. Despite a more challenging macro backdrop, analysts have reversed course and revised their estimates up by 4%. AI, not an early bedtime, is behind this newfound optimism.
Tech companies* have driven 84% of the upward revision, and they’re expected to contribute 67% of this year’s earnings growth, including 21% from Nvidia alone. Memory is the second largest contributor as the AI infrastructure frenzy continues to squeeze supply. On the other hand, estimates for the industrials and consumer sectors have edged down as analysts incorporate the drag from gasoline prices, which are up 32% since the start of the conflict. Airlines are facing higher fuel prices, and retailers could see softer demand. Still, gasoline accounts for just 3% of total expenditures, making it a painful but manageable hit for most consumers. Analysts are also expecting any weakness to be more than offset by the direct boost to the energy sector itself, which has driven 30% of the upward revision versus a combined -8% drag from the industrials and consumer sectors.
All in all, markets have set a very high bar for 2026 earnings. Even if estimates followed the average downward path from 2011 to 2025, EPS growth would still hit double digits. But, at elevated valuations, returns might not be as forgiving.
Chart of the Week: Source: FactSet, Standard & Poor's, J.P. Morgan Asset Management. Data are as of April 16, 2026.
Thought of the Week: Source: FactSet, Standard & Poor's, J.P. Morgan Asset Management. *Reflects the information technology sector plus AMZN and META. Data are as of April 16, 2026.
Abbreviations: Cons. Sent.: University of Michigan Consumer Sentiment Index; CPI: Consumer Price Index; EIA: Energy Information Agency; FHFA HPI: - Federal Housing Finance Authority House Price Index; FOMC: Federal Open Market Committee; GDP: gross domestic product; HPI: Home Price Index; HMI: Housing Market Index; ISM Mfg. Index: Institute for Supply Management Manufacturing Index; PCE: Personal consumption expenditures; Philly Fed Survey: Philadelphia Fed Business Outlook Survey; PMI: Purchasing Managers' Manufacturing Index; PPI: Producer Price Index; SAAR: Seasonally Adjusted Annual Rate
Index: Institute for Supply Management Manufacturing Index; PCE: Personal consumption expenditures; Philly Fed Survey: Philadelphia Fed Business Outlook Survey; PMI: Purchasing Managers' Manufacturing Index; PPI: Producer Price Index; SAAR: Seasonally
Adjusted Annual Rate
MSCI EAFE is a Morgan Stanley Capital International Index that is designed to measure the performance of the developed stock markets of Europe, Australasia, and the Far East.
Bond Returns: All returns represent total return. Index: Bloomberg US Aggregate; provided by: Bloomberg Capital. Index: Bloomberg Investment Grade Credit; provided by: Bloomberg Capital. Index: Bloomberg Municipal Bond 10 Yr; provided by: Blomberg Capital. Index: Bloomberg Capital High Yield Index; provided by: Bloomberg Capital.
Key Interest Rates: 2 Year Treasury, FactSet; 10 Year Treasury, FactSet; 30 Year Treasury, FactSet; 10 Year German Bund, FactSet. 3 Month LIBOR, British Bankers’ Association; 3 Month EURIBOR, European Banking Federation; 6 Month CD, Federal Reserve; 30 Year Mortgage, Mortgage Bankers Association (MBA); Prime Rate: Federal Reserve.
Commodities: Gold, FactSet; Crude Oil (WTI), FactSet; Gasoline, FactSet; Natural Gas, FactSet; Silver, FactSet; Copper, FactSet; Corn, FactSet. Bloomberg Commodity Index (BBG Idx), Bloomberg Finance L.P.
information from FactSet's Pricing database as provided by MSCI. Russell 1000 Value Index,
Style Returns: Style box returns based on Russell Indexes with the exception of the Large-Cap Blend box, which reflects the S&P 500 Index. All values are cumulative total return for stated period including the reinvestment of dividends. The Index used from L to R,
top to bottomare: Russell 1000 Value Index (Measures the performance of those Russell 1000 companies with lower price-to book ratios and lower forecasted growth values), S&P 500 Index (Index represents the 500 Large Cap portion of the stockmarket, and
is comprised of 500 stocks as selected by the S&P Index Committee), Russell 1000 Growth Index (Measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values), Russell Mid Cap Value Index (Measures
the performance of those Russell Mid Cap companies with lower price-to-book ratios and lower forecasted growth values), Russell Mid Cap Index (The Russell Midcap Index includes the smallest 800 securities in the Russell 1000), Russell Mid Cap Growth Index (Measures the performance of those Russell Mid Cap companies with higher price-to-book ratios and higher forecasted growth values), Russell 2000 Value Index (Measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values), Russell 2000 Index (The Russell 2000 includes the smallest 2000 securities in the Russell 3000), Russell 2000 Growth Index (Measures the performance of those Russell
2000 companies with higher price-to-book ratios and higher forecasted growth values).
Past performance does not guarantee future results.
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Unless otherwise stated, all data is as of April 21, 2026 or as of most recently available.
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