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What To Think About If You’re Coming Out of Retirement

When you’re planning and dreaming of your future retirement, you don’t often think about what it’s like to unretire once you get there. For some people, retirement can be a bit hard to get used to—especially if they loved their career. And for others, the rise in cost of living, inflation, and other financial factors may determine whether or not they’re thinking about coming out of retirement. 

Why Retirees Are Coming Out Of Retirement 

According to a survey by Resume Builder, one out of every five retirees is going to return to work this year.1 In fact, 69% of retirees are planning on coming out of retirement for financial reasons, and almost 24% of retirees would go back to work out of boredom.2,3 After years of raising a family and working towards a rewarding career for so long, it can be hard to get used to the slower pace of life that retirement offers. 

What to Consider Before Unretiring

If you’re considering coming out of retirement, there are a few things you’ll want to think about. Coming out of retirement has more of an impact on your retirement benefits than you might think. Here’s what you should know: 

1. Social Security Benefits 

If you started working within a year of retirement (and you haven’t hit full retirement age), you may have to repay any social security benefits you’ve received. Not only that, depending on your retirement age when you unretire, the Social Security Administration (SSA) will deduct money from what you earn above the annual income limit. To find out exactly how the deductions work, visit their website. Lastly, increasing your income could mean an increase in taxes on your social security benefits. Visit the SSA website to learn more.

2. 401(k) Contributions

One of the benefits of working is the opportunity to contribute to a retirement account like a 401(k). If the company you’re going to be working for provides retirement benefits, you might be able to delay your required minimum distribution (RMD) while you’re working. This will only serve to provide even more financial stability for your future as you build on what you already have.

3. Increased Medicare premiums

Depending on how much you earn from working after retirement, your Medicare plan could be affected. If you have Medicare Plan B and make over $97,000, your monthly premium will increase.4 Visit the Medicare Plan website to learn more about how your coverage will change. 

Coming out of retirement isn’t just about finances, it’s also about your emotional health. If retirement was harder than you thought it would be, that’s okay! Unretiring doesn’t have to mean going back into another full-time job. It can be about providing value in a way that you couldn’t in previous seasons of your life. 

Maybe you’re passionate about a specific charity or cause. Or maybe you want to spend more time impacting your community by working at the local food bank or homeless shelter. No matter what coming out of retirement looks like for you, a financial advisor can help. Contact your SageSpring Wealth Advisor today and we can help make sure your retirement is as financially healthy as possible.

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Jeffrey T. Dobyns


President, SageSpring | Financial Advisor, RJFS 

Jeffrey T. Dobyns

President, SageSpring | Financial Advisor, RJFS

Beyond crunching numbers and investment strategies, at SageSpring, we’re about building relationships. When you encounter Founder & President of SageSpring, Jeff Dobyns, it’s easy to understand why this is at the very heart of who we are as a firm. You won’t find stuffy formalities with Jeff; instead, you can expect to find him sharing a warm smile, communicating a compelling vision, or patiently untangling life’s complex challenges with clients. He believes in truly getting to know clients, understanding their aspirations and priorities, and navigating their financial plans with a tailored, comprehensive approach. Our team members have often been caught taking notes on Jeff’s effortless relationship skills from a distance, and we admire them for striving to learn from one of the best. 

Jeff’s financial expertise and wisdom are the perfect match to his innate people skills. Jeff holds the prestigious CERTIFIED FINANCIAL PLANNERTM certification, Chartered Life Underwriter (CLU®), and Chartered Financial Consultant (ChLU®) designations, and has held executive positions with financial planning firms for more than two decades. 

His dedication extends beyond the office to the boardroom and the local community, where Jeff is passionate about giving back. He serves as Chairman of the Board of Men of Valor, a prison ministry and mentoring program. Jeff also serves on the board of Send Musicians to Prison, which shares hope, healing and restoration with the imprisoned through musicians & artists. Jeff actively supports other initiatives in the community by sitting on the board of The Signatry of Middle Tennessee and the Halftime Institute of Nashville. 

Witnessing his four children, Gracyn, Hunter, Tanner, and Logan, excel on the field is almost just as rewarding, if not more, than celebrating the victories of seeing his clients overcome obstacles and build wealth. Spending weekends boating on the lake, hiking mountain trails, and fishing with his family are the moments Jeff cherishes most. It’s this grounded perspective that reveals the true meaning of wealth for Jeff: not just numbers on a page, but the freedom to create experiences that enrich your life and the lives of those you love. When you choose the Dobyns McMillin Wealth Team, you choose more than financial expertise. You choose a partner who champions your dreams, celebrates your victories, and walks besides you on the path to achieving your unique goals.

**Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER TM, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.