My cousin has $2 million in retirement savings and is still working at 66. Here’s why.

When one of my cousins ​​retired at 65, we all thought he was set for life. He had always had a good job and I knew from talking to him that he had a lot of money saved.

Recently, he revealed to me that his nest egg was worth about $2 million at the time of his retirement. And because he is manage your savings wiselyhe is not particularly afraid of running out of money.

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Despite all this, my cousin now works almost 20 hours a week. And it’s not because he needs money, it’s because he needs to do something.

When retirement ends up disappointing you

My cousin did everything necessary to prepare for a great retirement. He constantly saved, invested his money wisely, and got rid of major expenses, like his expensive home, when they were no longer necessary.

Despite this, my cousin found himself unhappy as a retiree until he returned to work. And it’s not so surprising.

Many retirees end up having too much time on their hands. And many older adults find themselves struggling with feelings of isolation and loneliness.

My cousin certainly felt the same way, which motivated his decision to return to work even though he is financially stuck between withdrawing his savings and Social security (which he hasn’t started collecting yet, but he knows it’s there for him).

Today, he works as a consultant in his former field. And although he sometimes finds certain tasks boring, overall he is happy with his decision.

Just as important, this work keeps him in touch with former colleagues and associates. Sometimes he goes to someone’s office to discuss a task assigned to him, not because it can’t be done over email, but because he wants to leave the house and have a discussion in person. face-to-face with someone else. And frankly, I’m glad he’s making an effort to stay social, because I know he needs those relationships in his life to stay happy.

Don’t overlook the non-financial benefits of working as a retiree

My cousin accepted the fact that retirement in the classic sense of the term did not suit him. So he is taking steps to make his final years more fulfilling.

If you’ve retired but aren’t happy with your routine, then it’s worth considering returning to work in some capacity, even if money isn’t an issue for you. You may find that working even one day a week gives you something to do with your time that feels meaningful while also providing you with an opportunity for social interaction.

And this work doesn’t have to be in your old field. Just because my cousin took this path doesn’t mean you have to. If you prefer to do something else, go for it, especially if you don’t particularly plan to earn a certain income.

Some retirees have no choice but to work to make ends meet. If you are in a position where you could work for non-financial reasons, even better. But definitely consider adding a job to your retirement calendar. You may find that it does wonders for your overall well-being.